CSM Technologies files draft IPO papers with Sebi

NEW DELHI: (Sep 28) CSM Technologies, a digital transformation, GovTech, and IT consulting services provider, has filed its preliminary papers with markets regulator Sebi to raise funds through an initial public offering (IPO).

The Bhubaneswar-based company’s proposed IPO comprises entirely a fresh issue of 1.29 crore equity shares, with no offer-for-sale (OFS) component.

Proceeds from the issue will be utilised towards funding growth initiatives, strengthening technological infrastructure, payment of debt and general corporate purposes, according to the draft red herring prospectus (DRHP) filed on Thursday.