The initial public offering of IT solutions company CSM Technologies will hit the primary market on June 24. The issue, which will conclude on June 29, has set a price band of ₹107 to ₹113 per share.
The ₹145.78 crore initial share sale is a fresh issuance of 1,29,01,000 shares. There is no offer for sale (OFS) component.
The net proceeds will be utilised for working capital requirements, repayment of certain outstanding borrowings, inorganic growth through unidentified acquisitions and general corporate purposes.
"We expect to achieve the benefit of listing of our equity shares on the stock exchanges and enhancement of our company's visibility and brand image and creation of a public market for our equity shares in India," the company said in its red herring prospectus.
CSM Technologies IPO: Lot size
The minimum investment for a retail investor is 132 shares and in multiples thereafter. Half of the net issue is reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors (NIIs).
CSM Technologies IPO: Allotment and listing date
| Event | Date |
|---|---|
| Subscription period | June 24 to June 29 |
| Basis of allotment | June 30 |
| Initiation of Refunds | July 1 |
| Credit of Shares to Demat | July 1 |
| Listing date | July 2 |
Keynote Financial Services is the issue's sole book-running lead manager, while KFin Technologies serves as the registrar.
CSM Technologies is amongst the few information technology solutions companies which have delivered first-of-its-kind projects for private as well as government sectors. It specialises in offering GovTech solutions and digital transformation services, offering technology solutions across sectors like government & public services, mining and allied services, industry and trade facilitation, agriculture and allied services, healthcare, tourism and education.
It also offers consulting and advisory services and provides self-service technologies that allow government organisations and corporate clients to automate, migrate and manage customer-facing business processes through self-service channels. It has presence in 12 countries, including India, Kenya, Ethiopia, Gambia, Rwanda, Canada and the United States of America.