CSM Technologies IPO

About the company

Incorporated in 1998, CSM Technologies is an IT solutions company having experience in designing, developing, and implementing e-governance platforms and digital infrastructure. The company specialises in GovTech solutions and digital transformation services and operates as a long-term technology partner to government agencies across sectors, which include mining and allied services, government and public services, agriculture and allied services, industry and trade facilitation, education, healthcare, and tourism. It delivers end-to-end technology services ranging from consulting and development to operations and maintenance, using technologies such as AI, IoT, cloud computing, and data analytics. The company also provides self-service technologies that enable government organisations and corporate clients to migrate, automate, and manage customer-facing business processes through digital channels. It has presence in 14 countries and within India, it has executed projects across 20 cities across states, including Odisha, Bihar, New Delhi, Uttar Pradesh, and Jharkhand. Odisha was the dominant revenue geography, which contributed 62.56% of revenue from operations in 9MFY26. Globally, the company has executed projects across Africa and has recently expanded into North America, with early-stage presence in Canada and parts of the USA. CSM Technologies has a diversified client base that includes central and state government departments, PSUs, development agencies, and private enterprises. Government clients accounted for 63.45% of revenue in 9MFY26, compared to 74.15% in FY25 and 77.13% in FY23. Top 10 customers include the Department of Steel and Mines (Odisha), Chhattisgarh Infotech Promotion Society, Inspira Enterprise India Limited, Spatial Planning and Analysis Research Centre Private Limited, and Odisha Bridge and Construction Corporation Limited. The Government and Public Services were the largest segment, which contributed 31.51% of revenue, followed by Mining and Allied Services at 24.65%, Agriculture and Allied Services at 14.56%, and Industry and Trade Facilitation at 12.99% in 9MFY26. As of March 31, 2026, the outstanding order book stood at ₹357.63 crore. The order book as of 9MFY26 was ₹376.39 crore, out of which non-government clients (including PSUs) accounted for 57.81% of the total. Agriculture and allied services from non-government clients was the single largest order book component at 27.04%. The company has completed several first-time projects in both the government and private domains. Digital mineral management system has been implemented in three states (Odisha, Jharkhand, Chhattisgarh), constituting over 80% of the country’s mineral output. It has also implemented world's first paddy analytics system for the state of Odisha (using satellite and remote sensing for crop classification using GIS), the Biju Kalyan Swasthya Yojana platform for the state of Odisha to help in administration of the healthcare scheme, World Bank supported school mapping system for Ethiopia, and a timber traceability system in Gabon using RFID-based electronic tracking of timber from forest produce to processing. Existing customers accounted for 95.71% of revenue from operations in 9MFY26, and 95.01% in FY25, while new customers contributed the remaining 4 to 5%. The Indian e-governance and digital transformation in the public sector is expected to grow at 4.8% CAGR to $178 million (₹1,632 crore) by FY31. Government IT and digital expenditure in India is expected to grow at a CAGR of 7.2% from FY26-FY31 to $1,738 million (₹15,935 crore). Among the new-age technologies in government IT, spending on data analytics is expected to register the highest CAGR of 25.6%, while investments in artificial intelligence and cloud infrastructure are expected to rise at a CAGR of 21.7% and 18.5%, respectively, by FY31. Globally, the IT and IT-enabled services (IT-ITeS) market was $5,285 billion (₹4,845.32 crore) by the end of FY25 and is projected to rise at a CAGR of 4.7% until FY30. CSM Tech’s strategy for growth has three key focus areas: (i) enhancing and scaling technology infrastructure (hardware and cybersecurity upgrades),, (ii) strengthening AI and ML capabilities for developing client solutions and for enhancing internal productivity, and (iii) expanding into new geographies via judicious strategic mergers, acquisitions and partnerships in the areas of cybersecurity, CRM, AI/ML. The company also aims to consolidate its market share in North America and Africa and will capitalise on government policy incentives like its 100% EOU status under the STPI scheme. Now, CSM Technologies Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹145.78 crore only. Its shares will be listed on the NSE and BSE. ### **How to pre-apply for CSM Technologies IPO?** You can pre-apply for CSM Technologies IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘CSM Technologies IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Pre-Apply’ - Accept the mandate on your UPI app ### **How to apply for CSM Technologies IPO?** If you are interested in this investment opportunity but unsure how to apply for CSM Technologies IPO, here are the steps that you need to follow. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for CSM Technologies IPO on Upstox: - Log in to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘CSM Technologies IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app ### **How to check the CSM Technologies IPO allotment status? ** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes. Here’s a step-by-step guide on how to check the CSM Technologies IPO allotment status: - Login to your Upstox account, using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ page, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, you will find the ‘View all’ option - Once you click on ‘View all’, you will be directed to the ‘IPO’ tab - In the ‘IPO’ tab, click on ‘My applications’ - In ‘My applications’, under the History section, your CSM Technologies IPO allotment status will be mentioned.

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   24 Jun 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   29 Jun 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   30 Jun 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   01 Jul 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   01 Jul 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   02 Jul 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.