CSM Technologies IPO: Flat Debut, Shares Hit Lower Circuit
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IT solutions provider CSM Technologies saw a flat market debut, listing at Rs 113. Shares later declined 5% to Rs 107.35 after its fully subscribed IPO.
New Delhi, Jul 2 (PTI) Shares of IT solutions provider CSM Technologies on Thursday made a flat market debut on Thursday, listing at par with the issue price of Rs 113.
In a lacklustre debut, the stock began trading at Rs 113 on both the BSE and NSE, which was at par with the issue price.
Later, it declined 5 per cent to hit a lower circuit of Rs 107.35 on both the stock exchanges.
The company's market valuation stood at Rs 553.96 crore on the BSE.
The initial public offering of CSM Technologies 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 had 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.
In a lacklustre debut, the stock began trading at Rs 113 on both the BSE and NSE, which was at par with the issue price.
Later, it declined 5 per cent to hit a lower circuit of Rs 107.35 on both the stock exchanges.
The company's market valuation stood at Rs 553.96 crore on the BSE.
The initial public offering of CSM Technologies 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 had 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.
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