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Merritronix IPO
Price Band
₹141.0–149.0
Issue Size
₹70.03 Cr
Lot Size
1,000 shares
Min Investment
₹298,000
2 LOTS MIN
GMP
+₹68.0 (45.64%)
Issue Price
₹149.0
Merritronix IPO AI Summary
- Merritronix IPO is listed on BSE SME in the Industrial Products sector.
- Price band: ₹141.0–₹149.0 per share, lot size 1,000 shares (min. investment ₹298,000, 2 lots minimum).
- Subscription window: 01 Jun–03 Jun 2026, listing on 08 Jun 2026.
- Current GMP is +₹68.0 (45.64%), an estimated listing price of ₹217 — unofficial and can change daily.
Merritronix Limited is set to go public with an IPO priced at ₹149.0 per share, aiming to raise ₹70.03 Cr. The company has shown strong revenue and profit growth over the past few years, supported by its extensive experience in the defence and aerospace sectors. Investors should consider the company's fundamentals and market conditions when evaluating this investment opportunity.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Merritronix IPO Grey Market Premium (GMP) Today
GMP
+₹68.0
GMP %
+45.64%
Est. Listing
₹217.0
Updated: 14 Jul 2026 15:51
About the Company
Merritronix Limited operates as an Electronics Systems Design and Manufacturing (ESDM) company focused on producing high-reliability and mission-critical electronic assemblies for sectors such as defence, aerospace, telecommunications, and industrial electronics. The company provides end-to-end B2B manufacturing solutions that include component procurement, PCB assembly, system integration, testing, box-build assembly, and delivery of fully assembled electronic products compliant with Indian defence and aerospace quality requirements. As of December 31, 2025, Merritronix’s manufacturing facility had an annual installed production capacity of: 7,65,000 boards for Surface Mount Technology (SMT) assembly 6,00,000 boards for Through-Hole Technology (THT) assembly 4,20,000 units for product assembly and box-build operations This results in a combined installed capacity of 17,85,000 production units per annum. The company has obtained EN 9100:2018 certification for manufacturing PCBAs for aerospace and defence applications. This certification is aligned with AS 9100D and JISQ 9100:2016 standards and also incorporates ISO 9001:2015 quality standards. Key Competitive Advantages More than three decades of experience in mission-critical defence and aerospace electronics Proven execution track record in specialised defence and aerospace programs Expertise in obsolescence management and lifecycle support solutions Advanced SMT infrastructure with IPC-A-610 Class 3 assembly capability Healthy order book ensuring strong revenue visibility Experienced promoters and senior leadership team
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 154.40 | 74.18 | 68.44 |
| Total Income | 156.25 | 114.04 | 86.01 |
| Profit After Tax | 16.10 | 8.66 | 3.05 |
| EBITDA | 27.22 | 15.18 | 6.73 |
| NET Worth | 52.52 | 16.23 | 7.58 |
| Reserves and Surplus | 40.34 | 15.39 | 6.73 |
| Total Borrowing | 43.20 | 18.57 | 15.82 |
Key Ratios
EPS
₹12.60
NAV
₹41.56
ROE
46.03%
ROCE
45.26%
RoNW
30.66%
P/B Value
3.59
P/E Ratio
11.83
Market Cap
₹260.52 Cr
PAT Margin
10.33%
Debt/Equity
0.81
Promoters
Dovari Yesudas, Dovari Amarnath, Vanaja D, Darsy Kethan Chandra and Dovari Thaman
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 Capital expenditure towards purchase of Machinery and equipment 21.36 2 Funding working capital requirements 21.95 3 Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the Company 12.72 4 General corporate purposes 7.91 5 Issue expenses 6.09 Total 70.03
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹86.01 Cr in 31 Mar 2024, rising to ₹114.04 Cr by 31 Mar 2025, and further increasing to ₹156.25 Cr by 31 Mar 2026. This demonstrates a consistent upward trend in revenue over the periods.
Profit Trend
Profit After Tax was ₹3.05 Cr in 31 Mar 2024, increasing to ₹8.66 Cr by 31 Mar 2025, and further rising to ₹16.10 Cr by 31 Mar 2026. This indicates a strong growth in profitability across the reported periods.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the difference between the issue price and the expected market price on the listing day. A higher GMP suggests strong demand for the IPO, while a lower GMP indicates weaker interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's fundamentals, market conditions, and sector performance before making a decision.
Who May Want to Wait
Investors with a low-risk appetite or those seeking immediate returns may want to avoid IPOs like this, as they can be subject to market fluctuations and may not provide instant liquidity.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on June 1, 2026, and closes on June 3, 2026. Allotment of shares will be announced on June 4, 2026, with the listing date set for June 8, 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may see a surge in price due to initial demand, others can decline based on market sentiment or broader economic conditions. It's essential to assess the underlying business fundamentals rather than relying solely on listing-day performance.
This evaluation is generated from Merritronix'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 Merritronix IPO GMP today?
Merritronix IPO GMP today is +₹68.0 (45.64%), indicating an estimated listing price of ₹217. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Merritronix IPO?
The price band of Merritronix IPO is ₹141.0–₹149.0 per share.
When does Merritronix IPO open and close?
Merritronix IPO opens on 01 June 2026 and closes on 03 June 2026.
When does Merritronix IPO list on the stock exchange?
Merritronix IPO listed on 08 June 2026 at ₹217.0.
What is the lot size for Merritronix IPO?
The lot size for Merritronix IPO is 1000 shares, requiring a minimum investment of ₹298,000 (2 lots).
What is the price band for the Merritronix IPO?
The price band for the Merritronix IPO is ₹141.0 to ₹149.0.
What is the minimum investment required?
The minimum investment required is ₹298,000, which corresponds to one lot of 1000 shares.
When does the IPO open and close?
The IPO opens on June 1, 2026, and closes on June 3, 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
When will the shares be listed?
The shares are expected to be listed on June 8, 2026.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
01 Jun 2026
Close
03 Jun 2026
Allotment
04 Jun 2026
Listing
08 Jun 2026
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