CSM Technologies

The Ticker Tales take

An entirely fresh issue (no offer-for-sale), so all the money raised goes into the company. —— How we built the call: at the 2 PM lock on closing day (29 Jun) our predicted listing pop was about +3.5%, split as GMP +3.5% (₹4 grey-market premium) + demand 0 (1.36× subscribed reads as on-track, not strong) + Anil Singhvi 0 (no clear call). That sits inside our ±5% dead-band, so the call locked at Neutral — always a fundamentals call, not a listing-pop play. GMP then faded to flat by listing eve. —— Prediction vs reality: we forecast ~+3.5%; the stock listed flat at the ₹113 issue price on both NSE and BSE, then slipped ~5% intraday to the lower circuit at ₹107.35. So the model ran ~3–4 points too optimistic on debut, but the Neutral call was the right read — there was no listing edge, exactly as flagged. Final call — locked at close on 29 Jun.