CSM Technologies IPO Day 2: GMP, subscription status, price band, review, other key details. Should you subscribe?

CSM Technologies IPO entered its second day with 34 percent subscription, with retail investors at 55 percent and NIIs at 63 percent, while QIBs had not placed any bids. The company aims to raise around Rs 145.78 crore at the upper price band of Rs 113 per share through a fresh issue of 1.29 crore equity shares. The grey market premium is muted at Rs 4, indicating an estimated listing gain of about 3.54 percent, though Anand Rathi recommends subscribing for long-term gains citing fair valuation at about 41.6x P/E on FY25 earnings.