Marushika Technology IPO
Market Sentiment
IPO Details
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Market Lot Size
Financial Analysis
| Metric | 2024 | 2025 | Sep 2025 |
|---|---|---|---|
| Revenue | 60.83 | 85.63 | 48.71 |
| Expense | 56.77 | 77.17 | 44.54 |
| Profit (PAT) | 3.14 | 6.29 | 3.14 |
| Total Assets | 48.37 | 53.94 | 62.68 |
| Company | EPS | P/E | Market Cap (Cr) |
|---|---|---|---|
| Vertexplus Technolgies Limited | 1.56 | 70.00 | 4 |
| Synoptics Technologies Limited | 4.76 | 16.39 | 6 |
Promoters: Ms. Monicca Agarwaal, Mr. Jai Prakash Pandey and Ms. Sonika Aggarwal
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 62,31,568 | 79.71% |
Strengths & Risks
- Strongly subscribed — 9.0x overall (final).
- Strong institutional (QIB) demand — 2.9x.
- Revenue grew 41% in the latest reported year.
- Strong return on equity — 56%.
- Elevated leverage — debt/equity of 1.39.
Auto-generated from live GMP, subscription, valuation and financial data. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Marushika Technology Limited, founded on July 03, 2010, is one of the growing companies that offers IT and telecom infrastructure products. The firm provides a wide range of IT products and services such as data center setup, networking, telecom systems, surveillance, cybersecurity, and power management. From installation, maintenance, to guidance of services, everything is done by the company. Moreover, the firm also offers Auto-tech solutions for the Defence sector, where they provide maintenance, refurbishment, and reverse engineering of military vehicles. The firm runs its business on a B2B and B2G model. Bharat Electronics Limited (BEL), Central Electronics Limited (CEL), Delhi Metro Rail Corporation (DMRC), and National Security Guard (NSG) are among the major government clients of Marushika Technology.
| Purpose | Amount (Cr) |
|---|---|
| Repayment and/ or pre-payment, in part or full, of certain borrowings availed by our Company | 5.89 |
| Funding of working capital requirement | 18.00 |
| General Corporate Purpose | - |
Resources & Documents
Marushika Technology Ltd., Shop No. 5 Acharya Niketan,, Mayur Vihar,, East Delhi, New Delhi, 110091
Marushika Technology has set a price band of Rs 111–Rs 117 per share for an issue size of Rs 27 crore in the technology sector. The stock listed with a 2.56% gain versus its issue price on February 19, 2026.
Marushika Technology Limited, founded on July 03, 2010, is one of the growing companies that offers IT and telecom infrastructure products. The firm provides a wide range of IT products and services such as data center setup, networking, telecom systems, surveillance, cybersecurity, and power management. The company operates in the technology space.
The issue is promoted by Ms. Monicca Agarwaal, Mr. Jai Prakash Pandey and Ms. Sonika Aggarwal with Nexgen Capitals Ltd. acting as lead manager. Net proceeds will primarily be used towards Repayment and/ or pre-payment, in part or full, of certain borrowings availed by our Company (Rs 6 crore) and Funding of working capital requirement (Rs 18 crore).
Current grey market activity shows a flat premium, indicating muted unofficial demand. Final subscription data records overall subscription at 9.01x, retail at 16.51x, QIB at 2.92x, NII at 41.35x.
On fundamentals, the company is posting revenue growth of 40.8%, a profit margin of 7.4%, return on equity of 55.9% in its most recent reported period. Listed peers in this segment include Synoptics Technologies Limited (P/E 16.39x, market cap Rs 6 crore) and Vertexplus Technolgies Limited (P/E 70.00x, market cap Rs 4 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as an Avoid view — key indicators are weak enough that the risk-reward looks unfavourable for now. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Marushika Technology IPO GMP — What It Means
The latest grey market premium for Marushika Technology IPO is ₹0 (+0.0%). GMP is an unofficial, dealer-quoted figure that hints at expected listing-day demand — it is not a guaranteed listing price. For Marushika Technology it should be read alongside the subscription numbers and the company's fundamentals, since grey-market premiums can swing sharply during the bidding window.
See the full Marushika Technology GMP history and trend, or learn how grey market premium works and how reliable it is.
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