The IPO market continues to remain active, and now IT company CSM Technologies is preparing to launch its public issue.
The Bhubaneswar-based technology firm has announced the price band for its IPO, which aims to raise nearly Rs 146 crore.
The issue is expected to open for subscription next week, while the company’s shares are likely to be listed on the stock exchanges in early July.
If you’re planning to invest in upcoming IPOs, here are the key details you should know about CSM Technologies.
IPO Size and Price Band
CSM Technologies plans to raise Rs 145.78 crore through a fresh issue of 1.29 crore equity shares.
The company has fixed the price band at Rs 107 to Rs 113 per share.
Since the IPO consists entirely of fresh shares, the funds raised will go directly to the company.
The proceeds will be used for working capital requirements, debt repayment and future business expansion through acquisitions.
Keynote Financial Services is the book-running lead manager for the issue, while KFin Technologies has been appointed as the registrar.
Important IPO Dates
The anchor investor portion of the IPO will open on June 23.
Public subscription will begin on June 24 and remain open until June 29.
According to the tentative schedule, the share allotment process is expected to be completed by June 30.
Successful investors may receive shares in their demat accounts on July 1, while refunds for unsuccessful applicants are also likely to be processed on the same day.
The company is expected to make its stock market debut on the NSE and BSE on July 2.
How Much Money Do Retail Investors Need?
Retail investors will have to apply for at least one lot, which consists of 132 shares.
At the upper price band of Rs 113 per share, the minimum investment amount comes to Rs 14,916.
For Small Non-Institutional Investors (sNII), the minimum application size is 14 lots or 1,848 shares, requiring an investment of Rs 2,08,824.
Large Non-Institutional Investors (bNII) must apply for at least 68 lots, which equals 8,976 shares and an investment of Rs 10,14,288.
What Does CSM Technologies Do?
CSM Technologies is an Indian IT company that focuses on developing technology solutions for governments and public sector organizations.
The company is known for its work in e-governance and digital transformation projects.
Its services cover several sectors, including mining, agriculture, healthcare, tourism, public services and other industries.
By helping governments digitize processes and improve service delivery, the company has built a strong presence in the government technology space.
Should Investors Track This IPO?
CSM Technologies operates in the growing e-governance and digital services sector, which has seen increasing demand in recent years.
With the company planning to use the IPO proceeds for expansion, debt reduction and working capital needs, investors may want to keep an eye on the issue.
As with any IPO investment, it is important to review the company’s financial performance, valuation and future growth prospects before making a decision.
