BHUBANESWAR: Odisha-based IT and GovTech major CSM Technologies Ltd, with footprints across 20 Indian cities and 14 countries, is set to launch its initial public offering (IPO) on Wednesday, with a price band of Rs 107-Rs 113 per equity share.
The public issue comprising a fresh issue of up to 12.9 million equity shares will close on June 29. The company aims to raise about Rs 146 crore from the issue. Investors can bid for a minimum of 132 equity shares and in multiples thereof.
According to the company, proceeds from the fresh issue will be used to fund working capital requirements, repay or prepay certain borrowings, pursue inorganic growth opportunities through acquisitions and strategic initiatives, and meet general corporate purposes.
Founded in 1998, CSM Technologies has pioneered GovTech solutions in the country across sectors such as mining, agriculture, public services, trade facilitation, education, healthcare and tourism. The company has executed several digital public infrastructure and model e-governance projects in India and overseas.
For the nine months ended December 31, 2025, the company reported revenue from operations of Rs 165.5 crore with net profit of Rs 14.7 crore. For FY25, revenue stood at Rs 199.24 crore compared with Rs 196.71 crore in FY24, while net profit rose to Rs 14.08 crore from Rs 12.54 crore a year earlier.
The company’s shares are proposed to be listed on the BSE and the NSE.