Merritronix IPO
Market Sentiment
IPO Details
IPO Reservation
Market Lot Size
Financial Analysis
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 86.01 | 114.04 | 156.25 |
| Expense | 81.72 | 101.64 | 133.23 |
| Profit (PAT) | 3.05 | 8.66 | 16.10 |
| Total Assets | 68.44 | 74.18 | 154.40 |
Promoters: Dovari Yesudas, Dovari Amarnath, Vanaja D, Darsy Kethan Chandra and Dovari Thaman
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,27,84,854 | 85.17% |
Strengths & Risks
- Heavily oversubscribed — 293.2x overall (so far).
- Strong institutional (QIB) demand — 224.9x.
- Revenue grew 37% in the latest reported year.
- Solid profit margin — 10.3%.
- Strong return on equity — 46%.
No major red flags in the available data.
Auto-generated from live GMP, subscription, valuation and financial data. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Merritronix Limited, incorporated in October 1988, is an Electronics Systems Design and Manufacturing (ESDM) company that focuses on producing high-reliability and mission-critical electronic assemblies for sectors such as defence, aerospace, telecom, and industrial electronics. The company provides B2B services, including sourcing of components, PCB assembly, system integration, testing, box building, and delivery of fully finished electronic products, all in compliance with India’s defence and aerospace standards. As of December 31, 2025, its manufacturing facility has a total installed capacity of 17,85,000 units per year, which includes 7,65,000 boards for SMT assembly, 6,00,000 boards for Through-Hole Technology (THT) assembly, and 4,20,000 units for product assembly and box-build operations aggregating to a total installed capacity of 17,85,000 production units per annum.
| Purpose | Amount (Cr) |
|---|---|
| Capital expenditure towards purchase of Machinery and equipment | 21.36 |
| Funding working capital requirements | 21.95 |
| Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the Company | 12.72 |
| General corporate purposes | - |
Resources & Documents
Merritronix Ltd., C-22, Electronic Complex, Kushaiguda, Hyderabad, Telangana, 500062
Merritronix has set a price band of Rs 141–Rs 149 per share for an issue size of Rs 70 crore. The stock listed with a 90.00% gain versus its issue price on June 08, 2026.
Merritronix Limited, incorporated in October 1988, is an Electronics Systems Design and Manufacturing (ESDM) company that focuses on producing high-reliability and mission-critical electronic assemblies for sectors such as defence, aerospace, telecom, and industrial electronics. The company provides B2B services, including sourcing of components, PCB assembly, system integration, testing, box building, and delivery of fully finished electronic products, all in compliance with India’s defence and aerospace standards.
The issue is promoted by Dovari Yesudas, Dovari Amarnath, Vanaja D, Darsy Kethan Chandra and Dovari Thaman with GYR Capital Advisors Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards Capital expenditure towards purchase of Machinery and equipment (Rs 21 crore) and Funding working capital requirements (Rs 22 crore).
Grey market is quoting a premium of +Rs 61 (+40.9% over issue price), down Rs 27 from the previous session. Final subscription data records overall subscription at 293.22x, retail at 297.50x, QIB at 224.91x, NII at 352.97x.
On fundamentals, the company is posting revenue growth of 37.0%, a profit margin of 10.3%, return on equity of 46.0% in its most recent reported period. Listed peers in this segment include Vinyas Innovative Technologies Limited (P/E 62.85x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
Our data-driven engine currently flags this issue as a Strong Subscribe — the data suggests strong listing-day potential backed by healthy fundamentals. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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