IT firm CSM Technologies has announced the price band of its issue worth nearly Rs 146 crore. The Bhubaneswar headquartered firm is all set to open its offer for bidding next week and is expected to list on bourses in early July.
The IPO is entirely a fresh issue and the company will utilize the raised proceeds towards funding its working capital requirements, re-paying its debt, and expanding growth through acquisitions. Here are the 3 major things you should know about the issue:
#1 CSM Technologies IPO: Issue Size and BRLMs
The IT company will raise Rs 145.78 crore via the issuance of 1.29 crore fresh equity shares, each of face value Rs 10. The IPO is being handled by Keynote Financial Services and KFin Technologies is the registrar to the offer. The share price band for the issue is fixed at Rs 107 to Rs 113.
#2 CSM Technologies IPO: Subscription timeline
CSM Technologies IPO will open for anchor bidding on Tuesday, June 23, and public bidding will start from Wednesday, June 24. It will be open for three days and close on Monday, June 29.
Share allotment is expected to be finalised by Tuesday, June 30, and investors will receive shares and requisite refunds by Wednesday, July 1. Tentatively, CSM Technologies will list on NSE and BSE by Thursday, July 2.
#3 CSM Technologies IPO: Lot Size
Retail applicants are required to bid for one lot comprising 132 shares aggregating to an investment of Rs 14,916, based on the upper end of the price band. Meanwhile small non-institutional investors are required to bid for a minimum of 14 lots comprising 1,848 shares equating to Rs 2,08,824.
For big NII the lot size is 68 equating to 8,976 shares amounting to Rs 10,14,288.
CSM Technologies: Company details
CSM Technologies is an Indian IT firm primarily engaged in the development of government technology and e-governance platforms. The company provides services across sectors like mining and allied industries, and spans across verticals such as public services, agriculture, healthcare, tourism and many more.
