CSM Technologies Set to Raise Rs 150 Crore Via IPO

CSM Technologies, a Bhubaneswar-based GovTech and IT consulting firm, plans to raise Rs 150 crore through an IPO. The IPO will be a fresh issue of 1.29 crore equity shares. The funds will be used for growth, technology upgrades, debt repayment, and corporate purposes.

CSM Technologies, a leader in digital transformation and GovTech solutions, has submitted preliminary documents for a Rs 150 crore initial public offering (IPO) with the Securities and Exchange Board of India (Sebi).

The IPO will consist entirely of a fresh issue of 1.29 crore equity shares, with no offer-for-sale component included, as per the draft red herring prospectus filed last week.

Founded in 1998 and rebranded in 2014, CSM Technologies operates globally with subsidiaries in several countries including the USA and UAE, providing comprehensive IT solutions to governments and public enterprises. Proceeds from the IPO will support growth initiatives, tech infrastructure reinforcement, and debt repayment.

(With inputs from agencies.)