Marushika Technology IPO
GMP, Subscription, Price, Dates & Financial Details
It - Software
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…
Open Date
Thu, 12 Feb 2026
Close Date
Mon, 16 Feb 2026
Price Band
₹ 111 – 117
Lot Size
1200
Issue Size
₹ 27.00 Cr
Minimum Investment
₹ 280,800 (2400 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Marushika Technology IPO has successfully completed its IPO process and is now listed on NSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹27.00 Crore.
The Marushika Technology IPO remained open for subscription from February 12, 2026, to February 16, 2026. The basis of allotment was finalized on February 17, 2026, and the company's shares were listed on NSE SME Platform on February 19, 2026.
The company had fixed the price band at ₹111 to ₹117 per share, with a lot size of 1200 shares. Retail investors were required to make a minimum investment of ₹280,800 (based on the upper price band) to apply for one lot.
Skyline Financial Services Private Ltd served as the registrar to the issue. NEXGEN Financial Solutions Pvt. Ltd. acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Marushika Technology Limited is now a publicly listed company on NSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Marushika Technology IPO Timeline (Tentative)
- IPO Open Date
- Thu, 12 Feb 26
- IPO Close Date
- Mon, 16 Feb 26
- Basis of Allotment
- Tue, 17 Feb 26
- Initiation of Refunds
- Wed, 18 Feb 26
- Credit of Shares to Demat
- Wed, 18 Feb 26
- Listing Date
- Thu, 19 Feb 26 — NSE & BSE
Open Date
12 February 2026
Close Date
16 February 2026
Basis Of Allotment
17 February 2026
Listing Date
19 February 2026
IPO Subscription
Check Live Subscription →The Marushika Technology IPO has received bids for 2,76,87,600 shares against 15,37,200 shares offered, resulting in an overall subscription of 18.01x. the NII category is subscribed 41.35x, Retail Investors 16.51x, and QIBs 2.92x. Within the NII category, BNII is subscribed 51.22x, while SNII is subscribed 21.92x.
QIB
2.92x
NII
41.35x
BNII
51.22x
SNII
21.92x
RII
16.51x
Total
18.01x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 7,70,400 shares, representing 50.12% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 4,35,600 shares (28.34%), while Non-Institutional Investors (NIIs) receive 3,31,200 shares (21.55%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 435,600 | 28.34% |
| Non-Institutional | 331,200 | 21.55% |
| BNII | 219,600 | 14.29% |
| SNII | 111,600 | 7.26% |
| Retail Investors | 770,400 | 50.12% |
| Total | 1,537,200 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Marushika Technology Limited KPI Information
| 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 |
| Pat Margin % | 6.45 | 7.37 | 5.18 | 1.09 |
Peers Comparison
| 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 |
About Marushika Technology Limited
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.
Marushika Technology IPO Promoters
- Ms. Monicca Agarwaal
- Mr. Jai Prakash Pandey
- Ms. Sonika Aggarwal
Promoters Holding
Holding Pre Issue
79.71%
Holding Post Issue
58.19%
Marushika Technology IPO Objective
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
Marushika Technology Limited Address / Contact Details
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
Marushika Technology IPO Lot Size
The Marushika Technology IPO has a lot size of 1,200 shares. Retail investors require a minimum investment of ₹2,80,800 by applying for 2 lot (2,400 shares). The maximum application allowed for the retail category is 2 lots (2,400 shares), requiring an investment of ₹2,80,800.
| 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 |
Issue Reservation
- QIB — 28.34%
- NII — 21.55%
- RII — 50.12%
Book Running Lead Managers
- NEXGEN Financial Solutions Pvt. Ltd.
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Marushika Technology IPO?
Marushika Technology IPO is a Book-building IPO with a total issue size of ₹27 crore. The Marushika Technology IPO price band is ₹111 to 117 per share. The Marushika Technology IPO subscription opens on Thu, Feb 12, 2026, and closes on Mon, Feb 16, 2026. The Marushika Technology IPO will be listed on the NSE. Skyline Financial Services Private Ltd is the registrar for the Marushika Technology IPO.
When will the Marushika Technology IPO open for subscription?
The Marushika Technology IPO opens on Thu, Feb 12, 2026 and closes on Mon, Feb 16, 2026
What is Marushika Technology IPO Price Band?
Marushika Technology IPO Price Band is ₹111 to 117 per share.
What is Marushika Technology IPO Lot Size?
Marushika Technology IPO lot size is 1200 shares, Retail investors need a minimum investment of ₹280800 based on the upper price band
What is the minimum investment for Marushika Technology IPO?
The minimum investment for Marushika Technology IPO is ₹280800, based on one lot of 1200 shares at the upper price band of ₹117 per share.
How to apply for Marushika Technology IPO?
Investors can apply for the Marushika Technology IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Mon, Feb 16, 2026. The application amount remains blocked until the Marushika Technology IPO allotment is finalized.
What is Marushika Technology IPO Issue Size?
Marushika Technology IPO issue size is ₹27 crores.
What is the Marushika Technology IPO Allotment Date?
Marushika Technology IPO allotment date is Tue, Feb 17, 2026.
Who is the Marushika Technology IPO Registrar?
The registrar for Marushika Technology IPO is Skyline Financial Services Private Ltd. Investors can go to Skyline Financial Services Private Ltd website to check Marushika Technology IPO allotment status, refund processing, and other IPO-related information.
What is the Marushika Technology IPO GMP?
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 1.71% over the issue price.
Who is the Marushika Technology IPO Lead Manager?
The book-running lead managers (BRLMs) for the Marushika Technology IPO are NEXGEN Financial Solutions Pvt. Ltd.. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Marushika Technology IPO Red Herring Prospectus (RHP).