Marushika Technology IPO
Open SmeCurrent GMP
₹2 (+1.71%)
Price Band
₹ 111 – 117
Lot Size
1200
Issue Size
₹27 Cr
Minimum Investment
₹280800 (2400 Shares)
Listing Date
19 February 2026
Subscription
18.01x
About the Company
Marushika Technology Limited is a provider of IT and telecom infrastructure products and solutions. The company delivers a comprehensive range of IT products and services, including data center setup, networking solutions, telecom systems, surveillance systems, cybersecurity, and power management solutions. In addition, it offers end-to-end services such as installation, maintenance, technical support, and consultancy.
The company also delivers smart technology solutions, including access control systems, intelligent parking solutions, smart lighting, and waste management systems, helping organizations improve operational efficiency and security.
Business Verticals
1. IT & Telecom Infrastructure Solutions
- Data Center IT Infrastructure
- Servers and Internet Protocol (IP) Solutions
- Video Wall Display Solutions
- Power Solutions
- Active Networking Solutions
2. Auto-Tech Solutions for Defence
- Repair and Refurbishment Services
- Reverse Engineering
- Control Panel Design and Development
3. Smart Solutions
- Access Control Systems
- Smart Parking Solutions
- Intelligent Lighting Systems
- Smart Waste Management Solutions
Business Model and Clients
Marushika Technology Limited primarily operates under Business-to-Business (B2B) and Business-to-Government (B2G) models. The company serves various 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).
Project Track Record
Over the years, Marushika Technology Limited has successfully completed more than 150 projects across its business verticals. As of July 31, 2025, the company had ongoing projects valued at approximately ₹2,835.42 lakhs, reflecting a strong and growing order book.
Promoters
- Ms. Monicca Agarwaal
- Mr. Jai Prakash Pandey
- Ms. Sonika Aggarwal
Promoters Holding
Holding Pre Issue
79.71%
Holding Post Issue
58.19%
Objects of the Issue
The Company Marushika Technology IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Repayment and/ or pre-payment, in part or full, of certain borrowings availed by our Company
- Funding of working capital requirement
- General Corporate Purposes
Address / Contact Info
Marushika Technology Ltd.
Shop No. 5 Acharya Niketan,
Mayur Vihar,
East Delhi, New Delhi, 110091
Phone: 0120-4290383
Email: Info@marushika.in
Website: http://www.marushika.in/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Thursday, 12 February 2026
IPO Close Date
Monday, 16 February 2026
Basis of Allotment
Tuesday, 17 February 2026
Initiation of Refunds
Wednesday, 18 February 2026
Credit of Shares to Demat
Wednesday, 18 February 2026
Listing Date
Thursday, 19 February 2026 — NSE & BSE
Important Dates
Open Date
12 February 2026
Close Date
16 February 2026
Basis Of Allotment
17 February 2026
Listing Date
19 February 2026
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 62.68 | 53.94 | 48.37 |
| Revenue | 48.71 | 85.63 | 60.83 |
| Profit After Tax | 3.14 | 6.29 | 3.14 |
| Net Worth | 18.51 | 15.37 | 8.45 |
| Reserve & Surplus | 12.28 | 9.14 | 7.58 |
| Total Borrowings | 18.92 | 21.37 | 19.64 |
EPS Pre
10.09%
EPS Post
7.35%
P/E Pre
11.60
P/E (Post Issue)
15.91x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 18.52 | 52.77 | 25.63 | 11.16 |
| ROCE % | 13.89 | 26.88 | 18.63 | 9.92 |
| Debt / Equity | 1.02 | 1.39 | 2.32 | 2.57 |
| RoNW % | 18.52 | 52.77 | 25.63 | 11.16 |
| PbW | 0 | 0 | 0 | 0 |
| Pat Margin % | 6.45 | 7.37 | 5.18 | 1.09 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 435600 | 28.34 | 0 |
| Non-Institutional | 331200 | 21.55 | 0 |
| BNII | 219600 | 14.29 | 0 |
| SNII | 111600 | 7.26 | 0 |
| Retail Investors | 770400 | 50.12 | 0 |
| Total | 1537200 | 100 | 0 |
Subscription Status ( Mon, 16 Feb 26 01:41 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 435600 | 1273200 | 2.92x |
| Non-Institutional | 331200 | 13694400 | 41.35x |
| BNII | 219600 | 11247600 | 51.22x |
| SNII | 111600 | 2446800 | 21.92x |
| Retail Investors | 770400 | 12720000 | 16.51x |
| Total | 1537200 | 27687600 | 18.01x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Marushika Technology Ltd | 10 | 0.00 | 5.04 | 5.04 | 18.52 | 29.71 |
| Vertexplus Technolgies Ltd | 10 | -24.59 | -3.70 | -3.70 | 8.80 | 40.21 |
| Synoptics Technologies Ltd | 10 | 12.47 | 4.01 | 4.01 | 4.76 | 86.38 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 280,800.00 |
| Retail (Max) | 2 | 2,400 | 280,800.00 |
| S-HNI (Min) | 3 | 3,600 | 421,200.00 |
| S-HNI (Max) | 7 | 8,400 | 982,800.00 |
| B-HNI (Min) | 8 | 9,600 | 1,123,200.00 |
Registrar
Skyline Financial Services Private Ltd
02228511022
info@skylinerta.com
https://www.skylinerta.com
Book Running Lead Managers
- NEXGEN Financial Solutions Pvt. Ltd.
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Marushika Technology IPO is a Book-building IPO worth ₹27 crores. The price band is ₹111 to 117 per share. The IPO opens on Thu, Feb 12, 2026 and closes on Mon, Feb 16, 2026. It will be listed on BSE and NSE. Skyline Financial Services Private Ltd is the registrar.
The Marushika Technology IPO opens on Thu, Feb 12, 2026 and closes on Mon, Feb 16, 2026
Marushika Technology IPO Price Band is ₹111 to 117.
Marushika Technology IPO lot size is 1200, and the minimum amount required for application is ₹280800.
The minimum investment for Marushika Technology IPO is approximately ₹280800 based on the upper price band.
To apply for the Marushika Technology IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Mon, Feb 16, 2026. After submission, funds are blocked until the basis of allotment of Marushika Technology IPO is finalised.
Marushika Technology IPO issue size is ₹27 crores.
Marushika Technology IPO allotment date is Sat, Jun 27, 2026.
The registrar for Marushika Technology IPO is Skyline Financial Services Private Ltd. Investors can go to Skyline Financial Services Private Ltd website for IPO allotment status, refund processing, and other queries related to Marushika Technology IPO through their official website or helpline.
The Marushika Technology IPO GMP (Grey Market Premium) is ₹2 as of Thu, Feb 19, 2026. Based on the upper price band of ₹117 per share, the estimated Marushika Technology IPO listing price is ₹119, indicating a potential listing gain of approximately 31% over the issue price.