Marushika Technology IPO: Marushika Technologies IPO is a book build issue of ₹26.97 crore, entirely based on fresh issue of 0.23 crore shares. The IPO opens for investments on February 12, 2026, and will close on February 16, 2026, with the allotment of shares expected to be finalized on February 17. The listing of the company’s shares is probable on February 19, 2026 on the NSE SME platform. Nexgen Financial Solutions is the book running lead manager to the issue, while Skyline Financial Services is the registrar and Nikunj Stock Brokers is acting as the market maker.
Marushika Technology IPO Overview
The price band of this IPO has been fixed at ₹111 – ₹117 per share and one lot comprises 1,200 shares. Based on the upper price, a retail investor would have to invest ₹2,80,800 for a minimum of 2 lots. At the same time, the minimum investment limit for HNI investors has been kept at 3 lots, the total amount of which comes to ₹ 4,21,200.
| Details | Descriptions |
|---|---|
| IPO Date | 12 to 16 Feb, 2026 |
| Listing Date | Thu, Feb 19, 2026 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹111 to ₹117 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 23,05,200 shares (agg. up to ₹27 Cr) |
| Reserved for Market Maker | 1,16,400 shares (agg. up to ₹1 Cr) |
| Net Offered to Public | 21,88,800 shares (agg. up to ₹26 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 62,31,568 shares |
| Share Holding Post Issue | 85,36,768 shares |
Marushika Technology IPO Schedule
This IPO of Marushika Technology will open for investment from 12 February 2026 and investors will be able to bid in it till 16 February 2026. After the completion of the bidding process, the allotment of shares is expected to be announced on February 17. If you are allotted shares, they will be credited to your demat account by 18th February and finally it will be listed on NSE SME platform on 19th February 2026.
| Details | Description |
|---|---|
| IPO Open Date | Thu, Feb 12, 2026 |
| IPO Close Date | Mon, Feb 16, 2026 |
| Tentative Allotment | Tue, Feb 17, 2026 |
| Initiation of Refunds | Wed, Feb 18, 2026 |
| Credit of Shares to Demat | Wed, Feb 18, 2026 |
| Tentative Listing Date | Thu, Feb 19, 2026 |
Marushika Technology IPO Lot Size Details
To participate in this IPO, investors will have to apply according to the lot, where 1,200 shares are placed in one lot. The minimum application for retail investors is 2 lots (2,400 shares), which would require an investment of ₹2,80,800 based on the upper price band. At the same time, at least 3 lots have been earmarked for High Net Worth Individuals (HNI), whose total investment amount comes to ₹4,21,200.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,80,800 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,80,800 |
| S-HNI (Min) | 3 | 3,600 | ₹4,21,200 |
| S-HNI (Max) | 7 | 8,400 | ₹9,82,800 |
| B-HNI (Min) | 8 | 9,600 | ₹11,23,200 |
Marushika Technology IPO Allocation
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,16,400 (5.05%) |
| QIB Shares Offered | 10,87,200 (47.16%) |
| − Anchor Investor Shares Offered | 6,51,600 (28.27%) |
| − QIB (Ex. Anchor) Shares Offered | 4,35,600 (18.90%) |
| NII (HNI) Shares Offered | 3,31,200 (14.37%) |
| − bNII > ₹10L | 2,19,600 (9.53%) |
| − sNII < ₹10L | 1,11,600 (4.84%) |
| Retail Shares Offered | 7,70,400 (33.42%) |
| Total Shares Offered | 23,05,200 (100.00%) |
Marushika Technology IPO Anchor Investors
| Details | Promoter Holding (%) |
|---|---|
| Bid Date | Wed, Feb 11, 2026 |
| Shares Offered | 6,51,600 |
| Anchor Portion (₹ Cr.) | 7.62 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Mar 19, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, May 18, 2026 |
Overview of Marushika Technology
Marushika Technology Limited primarily deals in distribution of IT and telecom infrastructure products. The company provides comprehensive services in areas such as data center setup, networking, telecom systems, cyber security, monitoring and power management. Not only supplying the products, but it also specializes in installation, maintenance and guidance. Apart from this, the company also offers smart solutions like access control, parking and waste management.
Major Business Verticals
The company primarily operates its operations in three categories:
- IT and Telecom Infra Solutions: This includes technology solutions such as data center infrastructure, servers, internet protocols, videowall displays and active networking.
- Auto-Tech for Defense Sector: The Company undertakes important work like repairing, refurbishment, reverse engineering and control panels for the defense sector.
- Smart Solutions: Providing modern smart technology for urban and commercial areas.
Business Model and Experience
Marushika Technology Ltd. primarily works on B2B (Business-to-Business) and B2G (Business-to-Government) models. The company major customers include prominent government institutions such as Bharat Electronics Limited (BEL), Delhi Metro (DMRC), National Security Guard (NSG) and Central Electronics Limited (CEL). The company has successfully completed more than 150 projects so far and had ongoing projects worth ₹2,835.42 lakh by the end of July 2025.
Main Strengths of the Company
- A wide and diverse range of IT and technology solutions.
- Deep and strong relationships with Original Equipment Manufacturers (OEMs).
- Led by an experienced and qualified management team.
- Holding in various industries and long standing association with customers.
- A proven track record of superior financial performance.
Company Financials
Marushika Technology Financial Information (Restated Standalone)
The company restated standalone financial statements reflect its strong performance. The company has shown consistency in its revenues and profits during FY 2024 – 2025, which proves the sustainability of its business model. In particular, orders from government projects (B2G) and auto-tech solutions for the defense sector have significantly strengthened the company balance sheet, making it an attractive option for investors.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 62.68 | 53.94 | 48.37 |
| Total Income | 48.71 | 85.63 | 60.83 |
| Profit After Tax | 3.14 | 6.29 | 3.14 |
| EBITDA | 5.64 | 10.47 | 5.67 |
| Net Worth | 18.51 | 15.37 | 8.45 |
| Reserves and Surplus | 12.28 | 9.14 | 7.58 |
| Total Borrowing | 18.92 | 21.37 | 19.64 |
Key Performance Indicator (KPI)
The market cap. of Marushika Technology IPO is ₹99.88 Crores.
KPI as of Mon, Sep 30, 2025, & Mar 31, 2025
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 18.52% | 52.77% |
| ROCE | 13.89% | 26.88% |
| Debt/Equity | 1.02 | 1.39 |
| RoNW | 18.52% | 52.77% |
| PAT Margin | 6.45% | 7.37% |
| EBITDA Margin | 11.59% | 12.28% |
| Price to Book Value | 3.94 | 4.74 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 10.09 | 7.35 |
| P/E (x) | 11.6 | 15.91 |
| Promoter Holding | 79.71% | 58.19% |
Marushika Technology IPO Objectives
| Objects of the Issue | Expected Amount (₹ in cr.) |
|---|---|
| Funding working capital requirements of the company | 5.00 |
| Funding of Capital expenditure for manufacturing of equipments for Rental purpose. | 14.68 |
| Funding working capital requirements of our company | – |
| General corporate purposes |
Marushika Technology IPO Contact Details
- Marushika Technology Ltd.
- Shop No. 5 Acharya Niketan,
- Mayur Vihar,
- East Delhi, New Delhi, 110091
- 0120-4290383
- Info@marushika.in
- Website: https://www.marushika.in/
Marushika Technology IPO Registrar
Skyline Financial Services Pvt. Ltd.
| Details | Descriptions |
|---|---|
| Phone: | 02228511022 |
| Email: | ipo@skylinerta.com |
| Website: | https://www.skylinerta.com/ipo.php |
Marushika Technology IPO FAQs
When Marushika Technology IPO become available?
The IPO will open on Thu, Feb 12, 2026.
What is the minimum lot size for the Marushika Technology IPO?
The minimum lot size is 1,200 shares.
When will the shares for the Marushika Technology IPO be allotted?
The allotment is expected to be finalized on Tue, Feb 17, 2026.
What is the expected listing date for the Marushika Technology IPO?
The tentative listing date is Thu, Feb 19, 2026.
How can I apply for the Marushika Technology IPO?
You can apply online through your bank or a broker using either the UPI or ASBA payment methods.
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