India's CSM Technologies hits lower circuit in trading debut

CSM Technologies

02/07/2026 07:19

** Shares of CSM Technologies CSMT.NS fall 5% to hit lower limit of exchange-mandated trading band of 107.35 rupees in trading debut, valuing co at 5.54 bln rupees ($58.2 mln)
** Stock opened at 113 rupees, same as the IPO issue price of 113 rupees
** IT solutions co's 1.46-bln-rupee IPO, which comprised entirely fresh shares issue, was subscribed 1.36x
** Proceeds from IPO to be used for funding working capital requirements, repayment of certain outstanding borrowings, inorganic growth through acquisitions, and general corporate purposes
** "While the co has shown steady revenue growth, earnings remain volatile and the IPO was priced at a premium valuation of 31x P/E compared to peers," said Shivani Nyati, Head of Wealth at Swastika Investmart

($1 = 95.2225 Indian rupees)

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))