SM Technologies Limited is a leading GovTech and digital transformation company with over 27 years of experience in designing, developing, and implementing e-governance platforms and digital infrastructure solutions. The company is among the few IT solution providers in India that have successfully delivered large-scale technology projects for both government and private sector clients.
CSM specializes in providing technology solutions across sectors such as government & public services, mining, agriculture, industry & trade facilitation, education, healthcare, tourism, and social welfare. Its solutions help organizations improve operational efficiency, enable data-driven decision-making, enhance transparency, and deliver citizen-centric services.
The company offers a wide range of services including software development, system integration, cloud solutions, data analytics, artificial intelligence (AI), machine learning (ML), cybersecurity, consulting, advisory services, and self-service technologies. These solutions enable governments and enterprises to automate processes, streamline operations, and improve service delivery.
Key Projects:
- Agriculture: CSM has developed farmer-centric platforms such as KRUSHAK Odisha, SAFAL, GO SUGAM, and international agriculture solutions in Kenya and Ethiopia.
- Education: CSM has built platforms such as SAMS Odisha, OFSS Bihar, eSikshakosh, and the Unified Scholarship Portal for digital admissions and scholarship management.
- Governance & Citizen Services: CSM has developed platforms such as Mo Sarkar and other citizen feedback systems to enhance grievance redressal, service monitoring, and governance analytics.
- Industry & Trade Facilitation: CSM has developed solutions such as the Digital Logistics Management System for JSW Steel and single-window platforms for business approvals and trade facilitation.
- Urban Development: CSM has developed ILMIS, Property Tax Management Systems, and municipal governance platforms to support urban administration and smart city operations.
- Social Protection: CSM has developed the Social Protection Delivery Platform (SPDP) and beneficiary management systems to support welfare program delivery in India, Ethiopia, and Gambia.
- Investor Facilitation: CSM has developed GO-SWIFT Odisha, AURIC, and other single-window clearance platforms to simplify investor approvals and business setup processes.
- Analytics & Dashboards: CSM has developed real-time monitoring dashboards and decision-support systems for governments to track performance and improve governance outcomes.
- Donor Aid Management: CSM has developed digital platforms in Rwanda and Mozambique to manage and monitor grants, aid programs, and development funding.
As of June 30, 2025, the company had an order book of ₹317.33 crore, providing strong revenue visibility for the coming years.
Its market presence spans across 12 countries, including India, Ethiopia, Kenya, Rwanda, Gambia, Gabon, the USA, and Canada. Its customer base comprises governments, PSUs, development agencies, and enterprises.
CSM Technologies IPO – Details
| IPO Opening Date | 24 June 2026 |
| IPO Closing Date | 29 June 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,29,01,000 Shares Worth ₹145.78 Crore Fresh Issue: 1,29,01,000 Shares Worth ₹145.78 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹107 – ₹113 per share |
| Market Lot | 132 Shares |
| Min Order | 132 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
CSM Technologies IPO – Date Schedule
| IPO Open Date | 24 June 2026 |
| IPO Close Date | 29 June 2026 |
| Basis of Allotment | 30 June 2026 |
| Initiation of Refund | 01 July 2026 |
| Credit of Shares to Demat Account | 01 July 2026 |
| IPO Listing Date | 02 July 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 29, 2026 |
CSM Technologies IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 132 | ₹14,916 |
| Retail (Max) | 13 | 1716 | ₹1,93,908 |
| S-HNI (Min) | 14 | 1848 | ₹2,08,824 |
| S-HNI (Max) | 67 | 8844 | ₹9,99,372 |
| B-HNI (Min) | 68 | 8976 | ₹10,14,288 |
Competitive Strength
- Deep sectoral expertise across a diversified spectrum of industries.
- Proprietary technology driven innovations and patented technology developed in-house.
- Extensive geographic footprint with scalable operations across key markets.
- Established presence in a high-entry-barrier industry.
- Experienced Promoters and Senior Management team, having domain knowledge.
- Track record of healthy financial performance.
Company Promoters
- Priyadarshi Pany
- Lagna Panda
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹161.50 Cr | ₹138.88 Cr | ₹15.82 Cr | ₹5.55 Cr |
| 31 March 2024 | ₹198.65 Cr | ₹180.83 Cr | ₹12.55 Cr | ₹30.04 Cr |
| 31 March 2025 | ₹200.63 Cr | ₹180.19 Cr | ₹14.09 Cr | ₹32.17 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2025) |
|---|---|
| ROE | – |
| ROCE | – |
| RoNW | – |
| PAT Margin | – |
| EBITDA Margin | – |
| Pre IPO | Post IPO | |
| EPS (₹) | – | – |
| P/E (x) | – | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding working capital requirements of the Company. | ₹53.00 |
| Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company. | ₹25.88 |
| Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. |
CSM Technologies IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Trigyn Technologies Limited | 19.42 |
| 2 | 5 | Allied Digital Service Limited | 33.79 |
| 3 | 2 | Dev Information Technology Limited | 6.29 |
| 4 | 10 | Silver Touch Technologies Limited | 41.47 |
✅Strengths
- 27+ years of GovTech experience.
- Strong presence across multiple sectors and geographies.
- Proven track record in large-scale digital transformation projects.
- Global operations across 12 countries.
⚠️Risks
- High dependence on government contracts.
- Revenue concentration among key customers.
- Business depends on winning new tenders.
- Exposure to cybersecurity and data security risks.
CSM Technologies IPO Promoter Holding
| Pre-Issue Share Holding | 94.90% |
| Post Issue Share Holding | 71.18% |
CSM Technologies IPO Prospectus
- CSM Technologies IPO DRHP
- CSM Technologies IPO RHP
Company Contact Information
| CSM Technologies Ltd. Plot No – E/56, Infocity-1 Chandrasekharpur, Dist.: Khurda, Khordha, Bhubaneshwar, Odisha, 751024 Phone: +0674 6635900 Email: secretarial@csm.tech Website: https://www.csm.tech/ |
CSM Technologies IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: csmtechnologies.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
CSM Technologies IPO Lead Manager(s)
| 1. Keynote Financial Services Ltd. |
CSM Technologies IPO FAQs
| What is the CSM Technologies IPO? CSM Technologies IPO is a main-board IPO. The issue is priced at ₹107 to ₹113 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the CSM Technologies IPO open? The IPO is to open on 30 June 2026 for QIB, NII, and Retail Investors. |
| What is CSM Technologies IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the CSM Technologies IPO Size? CSM Technologies IPO size is ₹145.78 Crore. |
| What is the CSM Technologies IPO Minimum and maximum lot sizes for Retail? The minimum bid is 132 Shares with ₹14,916, while the maximum bid is 1716 Shares with ₹1,93,908. |
| What is the CSM Technologies IPO Allotment Date? CSM Technologies IPO allotment date is 30 June 2026. |
| What is the CSM Technologies IPO Listing Date? CSM Technologies IPO listing date is 02 July 2026. The IPO is to be listed on the BSE and the NSE. |
