CSM Technologies IPO Day 2 update: Subscribed 32%, GMP at 4%. Should you subscribe?

CSM Technologies' IPO is seeing a subdued response on its second day, with only 32% subscription. Retail investors show more interest, subscribing to 53% of their quota. The grey market premium is a modest 4%, suggesting limited listing gains. The company, a digital transformation and GovTech solutions provider, aims to raise ₹145.78 crore. Analysts advise caution due to premium valuation and reliance on government contracts.