CSM Tech IPO Fully Subscribed 1.36x on Closing Day

New Delhi, Jun 29 (PTI) The initial public offer of IT solutions provider CSM Technologies Ltd was fully subscribed on the closing day of bidding on Monday, with a subscription of 1.36 times.

The Rs 145.78-crore public offering received bids for 1,51,27,068 shares against 1,11,30,880 shares on offer, translating into 1.36 times subscription, according to NSE data.

The category for retail investors fetched 1.62 times subscription, while the quota for non-institutional investors was subscribed 1.54 times. The portion for Qualified Institutional Buyers (QIBs) received 1.02 times subscription.

CSM Technologies mopped up Rs 20 crore from anchor investors on Tuesday.


The IPO has a price band of Rs 107-113 per share.

The proceeds from the fresh issue will be utilised to fund working capital requirements and repay debt, with the remainder allocated towards achieving inorganic growth.

Shares of the company will be listed on the BSE and NSE.

Keynote Financial Services Ltd is the book-running lead manager to the offering.