CSM Technologies

** Shares of India's CSM Technologies CSMT.NS rise 4.9% to 106.08 rupees

** IT solutions provider said on Wednesday its unit CSM Tech won a 32.1 million-rupee ($333,264.12) contract funded by World Bank from Malawi's Public Private Partnership Commission

** Adds, contract is for consultancy services to design and commission an electronic auction platform

** Stock down 1.2% since listing on July 2

($1 = 96.3200 Indian rupees)

(Reporting by Payel Das in Bengaluru)

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CSM Technologies’ wholly owned Kenyan subsidiary, CSM Tech Limited, has been awarded a World Bank‑funded contract by Malawi’s Public Private Partnership Commission to design and deploy an Electronic Auctioning Platform. The assignment, valued at INR 32.08 million, is part of the Digital Malawi Acceleration Project under the International Development Association’s Inclusive Digitalization in Eastern and Southern Africa programme. The platform will automate and digitise Malawi’s public procurement auctions, introducing online bid submission, real‑time evaluation, bidder anonymity and electronic publication of results. The 12‑month project includes requirements assessment, development, system integration, cybersecurity hardening, training and post‑deployment support. CSM Technologies believes the engagement highlights growing global confidence in India’s digital public infrastructure capabilities.

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July 15 (Reuters) - CSM Technologies Ltd CSMT.NS:

• CSM TECHNOLOGIES - AWARDED WORLD BANK-FUNDED PROJECT VALUED AT 32.08 MILLION RUPEES

Source text: ID:nNSE9lzxJs

Further company coverage: CSMT.NS

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** Shares of CSM Technologies CSMT.NS fall 5% to hit lower limit of exchange-mandated trading band of 107.35 rupees in trading debut, valuing co at 5.54 bln rupees ($58.2 mln)

** Stock opened at 113 rupees, same as the IPO issue price of 113 rupees

** IT solutions co's 1.46-bln-rupee IPO, which comprised entirely fresh shares issue, was subscribed 1.36x

** Proceeds from IPO to be used for funding working capital requirements, repayment of certain outstanding borrowings, inorganic growth through acquisitions, and general corporate purposes

** "While the co has shown steady revenue growth, earnings remain volatile and the IPO was priced at a premium valuation of 31x P/E compared to peers," said Shivani Nyati, Head of Wealth at Swastika Investmart

($1 = 95.2225 Indian rupees)

(Reporting by Vijay Malkar)

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