CSM Technologies IPO: Issue receives tepid response on Day 01, subscribed 0.26x; GMP signals flat listing

CSM Technologies IPO opened on June 24 and was subscribed 0.26 times on Day 1, with retail portion at 0.42x and NII at 0.53x, while QIB bidding is yet to open. The ₹146 crore issue is entirely a fresh issue priced at the upper band of ₹113, implying a post-issue market valuation of around ₹583 crore. Grey market premium stood at ₹4, signalling a likely listing around ₹117 (3.6% above issue price), with shares scheduled to list on BSE and NSE on July 2.