CSM Tech IPO receives 66 pc subscription on day 2

New Delhi, Jun 25 (PTI) The initial share sale of CSM Technologies Ltd, an IT solutions provider, received 66 per cent subscription on the second day of bidding on Thursday.

The initial public offer (IPO) fetched bids for 73,23,096 shares against 1,11,30,880 shares on offer, as per NSE data.

The category for non-institutional investors attracted 1.09 times subscription. The quota for retail investors got subscribed 75 per cent, while the portion meant for Qualified Institutional Buyers (QIBs) received 38 per cent subscription.

CSM Technologies mopped up Rs 20 crore from anchor investors on Tuesday.

The Rs 145.78-crore IPO has a price band of Rs 107-113 per share. The initial public offering will conclude on June 29. Stock markets would be closed

on Friday for Muharram.

The proceeds from the fresh issue will be utilised to fund working capital requirements and repay debt, with the remainder allocated towards achieving inorganic growth.

Shares of the company will be listed on the BSE and NSE.

Keynote Financial Services Ltd is the book running lead manager to the offering. PTI SUM SUM ANU ANU