CSM Technologies Files for Rs 150 Crore IPO to Fuel Expansion and Tech Infrastructure
Bhubaneswar-based CSM Technologies, a digital transformation and GovTech services provider, has filed for an IPO with SEBI. The IPO consists of a fresh issue of 1.29 crore equity shares, aiming to raise Rs 150 crore. Funds will be used for growth initiatives, strengthening technological infrastructure, debt repayment, and general corporate purposes. The company, founded in 1998, operates globally with subsidiaries in multiple countries. CSM Technologies reported revenue of Rs 199.24 crore and profit after tax of Rs 14.09 crore. Keynote Financial Services is the sole book-running lead manager for the IPO.
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Bhubaneswar-based CSM Technologies, a digital transformation and GovTech services provider, has taken a significant step towards public listing by filing preliminary papers with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) worth Rs 150 crore.
IPO Details
The proposed IPO consists entirely of a fresh issue of 1.29 crore equity shares, with no offer-for-sale component. This structure suggests that the company is primarily focused on raising new capital rather than providing an exit for existing investors.
Utilization of Funds
According to the filing, CSM Technologies plans to allocate the IPO proceeds towards several key areas:
- Growth initiatives
- Strengthening technological infrastructure
- Debt repayment
- General corporate purposes
Company Background
Founded in 1998 as Cybertech Software & Multimedia, the company rebranded to CSM Technologies in 2014. It later converted to a public company, marking a significant milestone in its corporate journey.
CSM Technologies has established itself as a global GovTech company with an international presence. The firm operates subsidiaries in several countries:
- United States
- United Arab Emirates
- Canada
- Kenya
- Rwanda
Additionally, the company has an Indian subsidiary named Kwantify Solutions.
Financial Performance
CSM Technologies reported the following financial results:
| Metric | Amount |
|---|---|
| Revenue | Rs 199.24 crore |
| Profit After Tax | Rs 14.09 crore |
These figures demonstrate the company's financial position and growth trajectory.
IPO Management
Keynote Financial Services has been appointed as the sole book-running lead manager for the IPO, overseeing the entire listing process.
The IPO filing by CSM Technologies marks a significant step for the Bhubaneswar-based firm as it seeks to capitalize on the growing demand for digital transformation and GovTech services. As the company progresses through the regulatory process, potential investors and market watchers will likely keep a close eye on further developments and the eventual pricing of the issue.
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