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Marushika Technology IPO
Price Band
₹111.0–117.0
Issue Size
₹26.97 Cr
Lot Size
1,200 shares
Min Investment
₹280,800
2 LOTS MIN
GMP
+₹2.0 (1.71%)
Issue Price
₹117.0
Marushika Technology IPO AI Summary
- Marushika Technology IPO is listed on NSE SME in the Computers Hardware & Equipments sector.
- Price band: ₹111.0–₹117.0 per share, lot size 1,200 shares (min. investment ₹280,800, 2 lots minimum).
- Subscription window: 12 Feb–16 Feb 2026, listing on 19 Feb 2026.
- Current GMP is +₹2.0 (1.71%), an estimated listing price of ₹119 — unofficial and can change daily.
Marushika Technology Limited is an SME engaged in IT and telecom infrastructure, with a strong project execution track record. The IPO offers a chance to invest in a company with diverse offerings and established relationships in the sector.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Marushika Technology IPO Grey Market Premium (GMP) Today
GMP
+₹2.0
GMP %
+1.71%
Est. Listing
₹119.0
Updated: 14 Jul 2026 15:52
About the Company
Marushika Technology Limited is engaged in the distribution and implementation of IT and telecom infrastructure products. The company offers a broad portfolio of IT solutions and services, including data center setup, networking, telecom systems, surveillance solutions, cybersecurity, and power management. In addition to supply and installation, it provides maintenance, consultancy, and smart technology solutions such as access control systems, smart parking, intelligent lighting, and waste management solutions. Business Verticals IT & Telecom Infrastructure Solutions:Data center IT infrastructure, servers and IP-based solutions, video wall display systems, power solutions, and active networking. Auto-Tech Solutions for Defence:Repair and refurbishment services, reverse engineering, control panels, and related solutions. Smart Solutions Marushika Technology Limited primarily operates under Business-to-Business (B2B) and Business-to-Government (B2G) models. The company serves several government and public sector organizations, including Bharat Electronics Limited (BEL), Central Electronics Limited (CEL), Delhi Metro Rail Corporation (DMRC), and the National Security Guard (NSG). Over the years, the company has successfully executed more than 150 projects. As of July 31, 2025, it had ongoing projects valued at approximately ₹2,835.42 lakhs. Competitive Strengths Wide range and diversified IT solutions and offerings Established strong relationship with Original Equipment Manufacturer (OEMs) Experienced and Qualified management team Presence in multiple industry verticals with long-standing customer relationships Demonstrated track record of financial performance
Company Financials (₹ Cr)
As of 2025-09-30
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 62.68 | 53.94 | 48.37 |
| Total Income | 48.71 | 85.63 | 60.83 |
| Profit After Tax | 3.14 | 6.29 | 3.14 |
| EBITDA | 5.64 | 10.47 | 5.67 |
| NET Worth | 18.51 | 15.37 | 8.45 |
| Reserves and Surplus | 12.28 | 9.14 | 7.58 |
| Total Borrowing | 18.92 | 21.37 | 19.64 |
Key Ratios
EPS
₹10.09
NAV
₹24.67
ROE
52.77%
ROCE
26.88%
RoNW
52.77%
P/B Value
4.74
P/E Ratio
11.6
Market Cap
₹99.88 Cr
PAT Margin
7.37%
Debt/Equity
1.39
Promoters
Monicca Agarwaal, Jai Prakash Pandey and Sonika Aggarwal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment and/ or pre-payment, in part or full, of certain borrowings availed by Company 5.00 2 Funding of Working Capital Requirement 14.68 3 General Corporate Purposes 3.29 4 Issue Expenses 4.00 Total 26.97
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹60.83 Cr in the year ending 31 Mar 2024, increasing to ₹85.63 Cr by 31 Mar 2025. However, the most recent figure of ₹48.71 Cr as of 30 Sep 2025 is a 9-month figure and not directly comparable to the previous full year.
Profit Trend
Profit After Tax was ₹3.14 Cr in the year ending 31 Mar 2024, rising to ₹6.29 Cr by 31 Mar 2025. The most recent figure of ₹3.14 Cr as of 30 Sep 2025 is also a 9-month figure, making it not directly comparable to the previous full year.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading in the grey market. A positive GMP suggests that the stock may list at a premium to the issue price, while a negative GMP may indicate a potential discount.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall portfolio strategy and risk tolerance.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid this IPO, as it operates in a sector that can be subject to rapid changes and competition.
IPO Timeline, Explained
The IPO is set to open on February 12, 2026, and will close on February 16, 2026. Allotment of shares will occur on February 17, 2026, with the listing date scheduled for February 19, 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may see a surge in price on their first day of trading, others may not perform as well, and investors should be prepared for potential volatility.
This evaluation is generated from Marushika Technology's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Marushika Technology IPO GMP today?
Marushika Technology IPO GMP today is +₹2.0 (1.71%), indicating an estimated listing price of ₹119. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Marushika Technology IPO?
The price band of Marushika Technology IPO is ₹111.0–₹117.0 per share.
When does Marushika Technology IPO open and close?
Marushika Technology IPO opens on 12 February 2026 and closes on 16 February 2026.
When does Marushika Technology IPO list on the stock exchange?
Marushika Technology IPO listed on 19 February 2026 at ₹119.0.
What is the lot size for Marushika Technology IPO?
The lot size for Marushika Technology IPO is 1200 shares, requiring a minimum investment of ₹280,800 (2 lots).
What is the price band for the Marushika Technology IPO?
The price band for the Marushika Technology IPO is ₹111.0 to ₹117.0.
What is the minimum investment required?
The minimum investment required is ₹280,800.
What is the lot size for this IPO?
The lot size for the Marushika Technology IPO is 1200 shares.
When is the listing date for the IPO?
The listing date for the IPO is February 19, 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which the stock may list compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
12 Feb 2026
Close
16 Feb 2026
Allotment
17 Feb 2026
Listing
19 Feb 2026
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