Marushika Technology IPO
Market Sentiment
IPO Details
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| 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 |
Peer Comparison
| Company | EPS | P/E | Market Cap (Cr) |
|---|---|---|---|
| Vertexplus Technolgies Limited | 1.56 | 70.00 | 4 |
| Synoptics Technologies Limited | 4.76 | 16.39 | 6 |
Promoters & Holding Pattern
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
- 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.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Marushika Technology
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.
Company Contact Information
Marushika Technology Ltd., Shop No. 5 Acharya Niketan,, Mayur Vihar,, East Delhi, New Delhi, 110091
Objects of the Issue
| 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
Anchor Investors
Marushika Technology IPO - Quick Take
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.
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).
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 is trading.
On our data-signal score, the combined signals for this issue currently read mixed — some indicators read positively and others do not. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Marushika Technology IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
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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