CSM Technologies IPO allotment today: GMP ₹4 in 2026

Allotment expected on June 30

The basis of allotment for the CSM Technologies IPO is expected to be finalised on June 30, 2026, as per the timelines cited in market reports. The issue drew attention mainly for its muted subscription and mixed grey market signals going into the allotment day. With the allotment process due, applicants are watching for updates on final subscription numbers, category-wise demand, and the implied listing expectations.

Market tracking also remained focused on the unofficial market, where the grey market premium (GMP) is often used as a rough indicator of demand. At the same time, analysts and market observers reiterated that grey market trades are unregulated, and GMP should not be treated as the only measure for likely listing performance.

Listing date set for July 2 on BSE and NSE

CSM Technologies shares are scheduled to list on both the BSE and NSE on Thursday, July 2, 2026. Multiple updates around the IPO timeline have reiterated the same listing date. That places the allotment and refunds process in a narrow window, typical for mainboard issues.

Ahead of listing, attention is split between (1) how strongly the issue closed on the final day of bidding and (2) whether grey market pricing holds up into the listing week. Reports described the likely listing as “lacklustre” based on prevailing unofficial signals, even as other trackers flagged modest gains.

Issue size, structure, and key terms

The public issue size was reported at ₹145.78 crore. It was described as an entirely fresh issue of 1.29 crore equity shares, with no offer-for-sale (OFS) component. The IPO was priced in a band of ₹107 to ₹113 per share, with a lot size of 132 shares.

Because the issue is a pure fresh issue, proceeds are expected to go to the company rather than existing shareholders, although the specific use of proceeds was not detailed in the provided information. For investors, the absence of an OFS keeps the focus on the business fundamentals and post-listing execution.

Subscription: modest overall demand, QIB lag visible

The three-day subscription window was reported to close on June 29, 2026, after opening on June 24. As of 2:09 pm on June 29, NSE data showed bids for 1,13,52,792 shares against 1,11,30,880 shares on offer, translating into an overall subscription of 1.02 times. This snapshot suggested the issue reached full subscription during the day.

Category data in the same update showed non-institutional investors (NIIs) and retail individual investors (RIIs) oversubscribing their quotas by 1.37 times and 1.33 times, respectively. Qualified institutional buyers (QIBs) were reported at 56% subscription at that point, indicating comparatively softer institutional participation.

Separate trackers also cited “Total Subscription Times: 1.36x” as on June 29, 2026 at 13:30 IST. Taken together, the figures indicate demand improved into the close, but overall subscription remained modest compared with stronger IPOs.

Earlier bidding trend: Day 1 and Day 2 checkpoints

Earlier during the offer period, demand was described as muted. One update said that on Day 1, the issue was subscribed 0.26 times, and investors were closely watching QIB participation over the next sessions. Another update said that on the second day (June 25, 2026), the IPO was subscribed 54% based on bids for 60,04,680 shares against 1,11,30,880 shares on offer.

That Day 2 snapshot also showed the non-institutional portion at 99% subscription and the retail portion at 70%, while QIB participation was reported at 19% at the time of that report. These mid-issue checkpoints broadly aligned with the narrative of retail and NII demand being steadier than institutional demand.

Grey market premium: flat at ₹113 in one check, ₹4 in another

Grey market indicators were mixed across reports in the run-up to allotment. One update said unlisted shares were trading flat at ₹113 per share, implying the GMP was nil as of Tuesday, June 30. That reading supported expectations of a muted listing, with observers describing the grey market trend as subdued.

At the same time, multiple other updates reported a GMP of around ₹4 per share. Based on the upper end of the price band at ₹113, a ₹4 GMP implies an estimated listing price of about ₹117 per share, or roughly 3.54% above the issue price. Market observers also described the grey market mood as “cautiously optimistic” and pointed to “around 4%” GMP as an indicator of modest but positive listing expectations.

GMP range reported: ₹0 to ₹4, and also ₹4 to ₹4

GMP range commentary also differed across sources. One set of updates said the lowest GMP recorded over recent sessions was ₹0.00, while the highest was ₹4. Another line stated that the minimum GMP recorded was ₹4 and the maximum was also ₹4. The common takeaway across these references was that the premium, when present, remained small.

Market trackers also reiterated what GMP represents: the amount investors are willing to pay in the unofficial market over the issue price. But because grey markets are unregulated, observers advised caution in interpreting GMP as a definitive predictor.

Broker and analyst stance: broadly neutral

Broker commentary in the provided updates leaned neutral. SBI Securities was cited as preferring to track post-listing performance over a few quarters, rather than focusing only on the listing-day move. Swastika Investmart was cited as suggesting moderate participation for long-term investors, noting the company’s dividend-paying nature.

This positioning aligns with the broader picture: a fully subscribed issue with modest demand signals, alongside a grey market premium that suggests limited upside expectations on debut based on unofficial cues.

Key IPO facts at a glance

What this means for investors

Based on the information available, the IPO’s demand profile was steady but not strong, with retail and NII participation ahead of QIB participation in key snapshots. Grey market indicators, where they showed a premium, pointed to a modest expected listing price near ₹117 versus the ₹113 upper band. But one check also indicated a flat grey market at ₹113 and a nil premium.

The consistent caution across reports is that grey market pricing is unofficial and unregulated, so investors should treat it as one input rather than a conclusion. With allotment expected on June 30 and listing scheduled for July 2, the next confirmed milestone will be the final basis of allotment and, subsequently, the debut trading on the exchanges.