CSM Technologies Ltd has authorized its Key Managerial Personnel (KMP) to determine the materiality of events and information for disclosures to stock exchanges. The company communicated this decision to BSE Limited and the National Stock Exchange of India Limited on July 02, 2026. This authorization is pursuant to Regulation 30(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the company's Policy on Determination and Reporting of Materiality of Events/Information (Materiality Policy).

The authorization empowers specific senior executives to assess materiality, ensuring timely and compliant disclosures. The designated officers are authorized severally, meaning they can act individually to determine materiality and make necessary disclosures to the exchanges.

Authorized Key Managerial Personnel

The following KMPs have been vested with the authority to determine materiality:

The filing was submitted by Shweta Janardhan Sharma, the Company Secretary & Compliance Officer, on behalf of CSM Technologies Limited. The company is registered at its office in Bhubaneswar, Odisha, and trades under the symbol CSM on the NSE and scrip code 544806 on the BSE.

CSM Technologies Limited is set to open its initial public offering (IPO) on June 24, 2026, seeking to raise ₹78.63 crore through a fresh issue to support its working capital needs and reduce debt. The Bhubaneswar-based IT solutions provider, specializing in e-governance platforms, has scheduled the issue to close on June 29, with allotment expected on June 30 and listing on July 2. The offering comes as the company navigates a working capital-intensive business model and seeks to strengthen its balance sheet.

Financial Performance

The company has demonstrated consistent revenue growth over the past two fiscal years, with revenue from operations rising from ₹160.44 crore in FY2023 to ₹199.24 crore in FY2025. However, growth decelerated significantly in FY2025, increasing by only 1.29% compared to the 22.60% growth recorded in the previous year. Profitability also experienced fluctuations, with Profit After Tax (PAT) declining from ₹15.82 crore in FY2023 to ₹12.55 crore in FY2024 before recovering to ₹14.09 crore in FY2025.

Objects of the Issue

The net proceeds from the fresh issue will be allocated towards specific corporate objectives. The largest tranche, amounting to ₹56.00 crore, is designated for funding working capital requirements, which represented 60.98% of revenue from operations for the nine months ended December 31, 2025. Additionally, ₹22.63 crore will be used for the prepayment or repayment of outstanding borrowings to improve the company's debt-equity ratio. A portion of the funds is also earmarked for inorganic growth and general corporate purposes, though the specific amount for this tranche was not disclosed in the Draft Red Herring Prospectus (DRHP).

Business Profile and Risks

CSM Technologies operates across ten verticals, including mining, governance, agriculture, and healthcare, with a presence in 14 countries. The company holds CMMI Level-5 and SOC 2 Type II certifications. Promoter Priyadarshi Pany holds 93.60% of the pre-issue equity share capital. Despite its operational footprint, the company faces material risks, including heavy dependence on government tenders, which account for 63.45%–77.13% of revenue, and geographic concentration in eastern India, which contributes 62.56%–83.95% of revenue. Statutory auditors have also expressed substantial doubt about the ability of certain subsidiaries to continue as a going concern due to negative net worth and accumulated losses.