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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Funding working capital requirements
Meeting the company's incremental working capital needs.
Prepayment or repayment of borrowings
Reducing certain outstanding debt of the company.
Acquisitions, strategic initiatives and general corporate purposes
Funding inorganic growth through acquisitions and strategic initiatives, together with general corporate purposes.
(₹ in Crore)
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CSM Technologies Limited is an information technology company that builds digital transformation and e-governance solutions for public sector bodies and private enterprises. Its work spans custom software development, system integration, cloud services, data and analytics, cybersecurity and technology consulting, with a particular emphasis on designing and running large public digital platforms. Founded in 1998 and headquartered in Bhubaneswar, Odisha, the company has built more than two and a half decades of delivery experience. It has executed projects across a broad set of domains including agriculture, mining, education, healthcare, trade, tourism and citizen services, and has taken its work beyond India into international markets in Africa and North America. Ahead of the issue the company reported an order book of roughly 357 crore rupees. A large share of CSM's revenue comes from government and quasi-government mandates, many of them won through competitive bidding, which gives it recurring multi-year engagements but also links its growth to public technology spending. The company positions itself as a specialist GovTech provider that pairs domain knowledge with scalable platform engineering, and it plans to use the net proceeds of the fresh issue to fund working capital, reduce borrowings and pursue acquisitions and other strategic initiatives.
The company raised close to 20 crore rupees from anchor investors on 23 June 2026, allotting 17,70,120 equity shares at 113 rupees each. The anchor book was taken up by two funds in equal measure, Nova Global Opportunities Fund PCC (Touchstone) and Zeal Global Opportunities Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 8 July 2026, 5:30 AM
Long operating track record
More than two and a half decades of delivering e-governance and digital transformation projects since 1998.
GovTech domain depth
Established expertise in public sector technology across agriculture, mining, education, healthcare and other sectors.
Anchored government and enterprise relationships
Long standing engagements with government agencies and enterprise customers that support repeat business.
International presence
Delivery footprint beyond India, including markets in Africa and North America.
Broad service portfolio
Capabilities across software development, system integration, cloud, cybersecurity and consulting reduce reliance on any single service line.
Reliance on government contracts
A significant part of revenue depends on public sector projects awarded through competitive bidding, which can be lumpy and price sensitive.
Contract win and execution risk
Failure to win new mandates or to complete projects on schedule could weigh on performance.
Competitive intensity
The company faces strong competition from other IT services and technology solution providers.
CSM Technologies Limited
Plot No. E/56, Infocity-1, Chandrasekharpur, Dist. Khurda, Bhubaneswar, Odisha - 751024
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Technology change
Rapid shifts in technology require continuous investment in innovation to stay relevant.
Regulatory compliance
Non compliance with IT, cybersecurity, accessibility or procurement rules could disrupt public sector work.