CSM Technologies Limited has secured a World Bank-funded digital procurement project in Malawi through its wholly owned subsidiary, CSM Tech Limited. Valued at INR 32.08 million, the contract involves the design, development, and commissioning of an Electronic Auctioning Platform (EAP) under the Digital Malawi Acceleration Project (DMAP). This engagement strengthens the company's global footprint in the GovTech sector and supports India's expanding role in enabling Digital Public Infrastructure (DPI) across developing nations.

Project Overview

The project is funded by the World Bank through the International Development Association (IDA) and awarded by the Public Private Partnership Commission (PPPC) of Malawi. The EAP aims to replace manual, paper-based processes with a secure, transparent, and fully auditable digital mechanism for conducting competitive auctions. The platform will facilitate online bid submission, real-time evaluation, bidder anonymity, automated ranking, and electronic publication of results.

Strategic Impact

The 12-month assignment forms part of the six-year Digital Malawi Acceleration Project under the World Bank-supported Inclusive Digitalization in Eastern and Southern Africa (IDEA) programme. It targets benefits for over 75 lakh broadband users and aims to connect 2,500 public institutions, including 2,000 schools and 500 government offices. Additionally, the project seeks 50 lakh successful digital authentications for service delivery and intends to reduce retail data prices as a percentage of GNI per capita from 9.4% to 4%.

CSM Tech Limited will manage the complete project lifecycle, including business requirements assessment, platform architecture, cybersecurity hardening, penetration testing, and post-deployment warranty support. Priyadarshi Pany, Chairman, Managing Director & CEO of CSM Technologies Limited, highlighted that the engagement reflects global confidence in India's DPI capabilities and the company's commitment to delivering mission-critical GovTech solutions.

CSM Technologies Limited has adopted a Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) to ensure timely and uniform dissemination of material information. The code, approved by the Board of Directors on August 12, 2025, is effective from the same date and aligns with Regulation 8(2) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. This framework aims to maintain transparency and fairness in dealing with stakeholders by preventing the misuse of unpublished price sensitive information.

The policy defines UPSI as information not generally available that could materially affect the price of securities, including financial results, dividends, changes in capital structure, mergers, and key managerial personnel changes. CSM Technologies Limited has designated the Chief Financial Officer as the Chief Investor Relations Officer (CIRO), responsible for disseminating UPSI to stock exchanges and the company website. The CIRO must ensure that disclosures are made promptly, with any inadvertently disclosed UPSI communicated to exchanges within 48 hours of becoming aware of the leak.

Dissemination and Third Party Dealings

The code mandates that UPSI be shared universally to avoid selective disclosure. Information shared with analysts and research personnel must not be UPSI. Meetings with analysts or investor relations conferences must be transcribed or recorded, with audio or video recordings made available on the website within 24 hours of the call's conclusion. Transcripts must be disseminated to stock exchanges within five working days.

The company has also formulated a Policy for Determination of Legitimate Purposes, permitting the sharing of UPSI in the ordinary course of business with partners, lenders, legal advisors, and auditors. A structured digital database will be maintained to record the nature of UPSI shared and the identities of recipients, preserved for at least eight years.

The code includes provisions for handling leaks of UPSI, requiring the Compliance Officer to inform the Audit Committee Chairman and the stock exchanges promptly. It also outlines disclosure requirements for trading by insiders, including initial and continual disclosures for key managerial personnel and directors.