What is the GMP of Marushika Technology IPO today?

The Grey Market Premium (GMP) for Marushika Technology IPO is currently ₹2. With an upper price band of ₹117, the estimated listing price is ₹119 per share, reflecting an expected listing gain of ~1.71%. Grey market premiums can fluctuate based on market sentiment and subscription demand.

What is the price band and lot size for Marushika Technology IPO?

The price band for Marushika Technology IPO is ₹111 to ₹117 per equity share. The minimum lot size is 1200 shares, which requires a minimum retail application investment of ₹1,40,400.

What are the important dates for Marushika Technology IPO?

Marushika Technology IPO opens for subscription on 2026-02-12T00:00:00 and closes on 2026-02-16T00:00:00. The basis of allotment is scheduled for 2026-02-17T00:00:00, and shares are expected to list on 2026-02-19T00:00:00 on BSE, NSE.

How can I check the allotment status for Marushika Technology IPO?

You can check Marushika Technology IPO allotment status on the registrar's official portal (Skyline Financial Services Pvt.Ltd.) or through the official BSE and NSE IPO allotment status pages using your PAN number or Application number.

How to apply for Marushika Technology IPO?

Investors can apply for Marushika Technology IPO online through ASBA (Application Supported by Blocked Amount) via their internet banking account, or via UPI using authorized stockbroking platforms like Zerodha, Groww, Angel One, and Upstox.

When does the Marushika Technology IPO open and close?

The IPO opens on 12 Feb 2026, and closes on 16 Feb 2026.

What is Marushika Technology IPO price band?

The issue price band is ₹111.00 to ₹117.00 per equity share.

What is the Marushika Technology IPO lot size?

The minimum lot size is 1200 shares per application.

What is the Marushika Technology IPO allotment date?

The allotment is scheduled on 17 Feb 2026.

Marushika Technology IPO Details - Dates, Price Band, Issue Size

All IPOs

Issue Size

27.00 Cr

Price Band

₹111.00 - ₹117.00

Lot Size

1200 Shares

Min Investment

₹2,80,800

GMP

₹2

Subscription

12.89x

₹329.98 Cr

12 Feb 2026

IPO Opens

COMPLETED

16 Feb 2026

IPO Closes

COMPLETED

17 Feb 2026

Basis of Allotment

COMPLETED

18 Feb 2026

Refunds

COMPLETED

18 Feb 2026

Demat Credit

COMPLETED

19 Feb 2026

Listing

COMPLETED

IPO Timeline

IPO OpensDONE

12 Feb 2026

IPO ClosesDONE

16 Feb 2026

Basis of AllotmentDONE

17 Feb 2026

RefundsDONE

18 Feb 2026

Demat CreditDONE

18 Feb 2026

ListingDONE

19 Feb 2026

About Marushika Technology IPO

Marushika Technology IPO open date is February 12, 2026 and the IPO will close on February 16, 2026. Marushika Technology IPO is a Book build Issue. The company to raise around ₹26.97 crores via IPO that comprises fresh issue of ₹26.97 crores and offer for sale up to [.] equity shares with face value of ₹10 each.

Marushika Technology IPO price band is ₹111 to ₹117 per share. The retail quota is 35%, QIB is 50%, and HNI is 15%. Marushika Technology IPO to list on NSE SME on February 19, 2026. The allotment of Marushika Technology IPO date is February 17, 2026.

The company reported revenue of ₹85.63 crores in 2025 against ₹60.83 crores in 2024. The company reported profit of ₹6.29 crores in 2025 against profit of ₹3.14 crores in 2024. As per the financials the IPO investors should apply the IPO for a long term.

IPO Details

Marushika Technology IPO Details and Specifications
IPO Date	12 Feb 2026 to 16 Feb 2026
Face Value	₹10 Per Share
Price Band	₹111.00 - ₹117.00
Lot Size	1200 Shares
Total Issue Size	Approx 27.00 Cr 23,05,200 Equity Shares
Fresh Issue	Approx 27.00 Cr 23,05,200 Equity Shares
Offer for Sale	Approx 0.00 Cr 0 Equity Shares
Retail Portion	35.2%
Sale Type	Fresh Issue
Issue Type	Bookbuilding IPO
Listing Date	19 Feb 2026
Listing At	NSE
Total Subscription Amount	₹329.98 Cr

Issue Reservation

Investor Category	Shares Offered	% Net Issue
QIB	10,87,200	49.67%
- Anchor	6,51,600	0.00%
- QIB (Ex. Anchor)	4,35,600	0.00%
NII	3,31,200	15.13%
- bNII > ₹10L	2,19,600	0.00%
- sNII < ₹10L	1,11,600	0.00%
Retail	7,70,400	35.20%
Total	21,88,800	100.00%

IPO Lot Size

Application	Lots	Shares	Amount
Individual investors (Retail) (Min)	2	4,800	₹5,61,600
Individual investors (Retail) (Max)	2	4,800	₹5,61,600
S-HNI (Min)	3	7,200	₹8,42,400
S-HNI (Max)	7	16,800	₹19,65,600
B-HNI (Min)	8	19,200	₹22,46,400

About Company

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.

Contact Details

Marushika Technology Ltd.

Shop No. 5 Acharya Niketan,

Mayur Vihar,

East Delhi, New Delhi, 110091

0120-4290383

Info@marushika.in

Visit Website

Registrar

Skyline Financial Services Pvt.Ltd.

02228511022

ipo@skylinerta.com

Lead Managers

Nexgen Capitals Ltd

Day-wise GMP Trend

Date & Time	GMP (₹)	Est. Listing Price	Est. Gain (%)	Est. Profit / Lot (₹)
19-Feb-2026 12:59 PM	+₹2	₹119	+1.71%	₹2,400
18-Feb-2026 12:59 PM	+₹2	₹119	+1.71%	₹2,400
17-Feb-2026 12:59 PM	+₹2	₹119	+1.71%	₹2,400
16-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0
14-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0
13-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0
12-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0
11-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0
10-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0
09-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0
08-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0
07-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0
06-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0
05-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0
04-Feb-2026 10:00 AM	+₹0	₹117	+0.00%	₹0

Subscription Status

Category	Subscription (x)	Shares Offered	Shares bid for	Total Amount (₹ Cr)
Anchor	1.00x	6,51,600	6,51,600	₹7.62 Cr
QIB (Ex. Anchor)	2.88x	4,35,600	12,56,400	₹14.70 Cr
NII	41.39x	3,31,200	1,37,07,600	₹160.38 Cr
bNII > ₹10L	51.26x	2,19,600	1,12,57,200	₹131.71 Cr
sNII < ₹10L	21.96x	1,11,600	24,50,400	₹28.67 Cr
Retail	16.34x	7,70,400	1,25,88,000	₹147.28 Cr
Total	12.89x	21,88,800	2,82,03,600	₹329.98 Cr

Objects of the Issue

01 Repayment and/ or pre-payment, in part or full, of certain borrowings availed by our Company : 5.00 Cr
02 Funding of working capital requirement : 14.68 Cr
03 General Corporate Purpose : 3.29 Cr
04 Issue Expenses : 4.00 Cr

Company Financials

Period Ended	03 SEPT 2025	31 MAR 2025	31 MAR 2024
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

Amount in ₹ Crore

IPO Valuation - KPI

KPI	31 Mar 2025
ROCE	26.88%
Debt/Equity Ratio	1.39
Return on Net Worth (RoNW)	55.94%
PAT Margin	7.37%
EBITDA Margin	12.63%
Net Asset Value (NAV)	₹24.67
Earning Per Share (EPS)	₹9.70

Peer Comparison

Company Name	EPS (₹)	P/E (x)	NAV (₹)	RoNW (%)	Income (₹ Cr)
Synoptics Technologies Limited	4.76	16.39	82.34	5.96	4.04
Vertexplus Technolgies Limited	1.56	70.00	44.75	3.56	0.86

Promoters and Holding Pattern

Ms. Monicca Agarwaal, Mr. Jai Prakash Pandey, Ms. Sonika Aggarwal are the company's promoters of Marushika Technology.

Particular	Pre IPO	Post IPO
Promoter and Promoter Group	79.71%	58.19%
Others*	20.29%	41.81%

Strengths

Diverse technology portfolio spanning IT and telecom infrastructure, smart solutions, and Defence Auto‑Tech services, enabling multi‑sector revenue streams.
Strong industry relevance as IT infrastructure, cloud adoption, cybersecurity, and digital transformation continue to expand across the public and private sectors in India.
Established clientele including government entities, PSUs, and private organisations, enhancing business credibility and growth prospects.
High revenue growth trajectory, with steady increases in turnover and profitability across FY23, FY24, FY25, and the September 2025 period.
Expansion opportunity in Defence Auto‑Tech, where demand for refurbishment and maintenance of military vehicles continues to rise.
Large and evolving IT industry, contributing 7.5% to India’s GDP and supported by rising demand for data centres, networking, and digital infrastructure.
Growing demand for smart city and smart infrastructure solutions, aligned with national digital initiatives and urban modernisation.
IPO proceeds strengthen operational capacity, supporting working capital needs and debt reduction, improving financial flexibility for future expansion.

Risks

High client concentration, with the top ten customers contributing over 80% of revenue, making the business vulnerable to loss or reduction of major contracts.
Significant dependence on key suppliers, with up to 94% of product procurement sourced from the top ten vendors, exposing the company to supply disruptions and pricing pressures.
Heavy reliance on IT and telecom infrastructure revenue, which forms nearly the entire revenue mix, increasing exposure to technological shifts and demand fluctuations.
Working capital‑intensive operations, with large receivables and high ongoing funding requirements that may strain liquidity and impact project execution.
Regional concentration risk, as a major share of revenue originates from Delhi and Uttar Pradesh, making operations sensitive to regional economic or regulatory disruptions.
Exposure to government and PSU‑linked projects, where delays, policy changes, or budget shifts could adversely affect revenue flow and project continuity.
Outstanding legal proceedings involving the company and group entities, which could result in financial liabilities or reputational damage if outcomes are unfavourable.
Historical instances of delayed GST and statutory filings, which may attract penalties and reflect compliance‑related vulnerabilities.

Frequently Asked Questions (FAQ)

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About Marushika Technology IPO

IPO Details

Marushika Technology IPO Details and Specifications
IPO Date	12 Feb 2026 to 16 Feb 2026
Face Value	₹10 Per Share
Price Band	₹111.00 - ₹117.00
Lot Size	1200 Shares
Total Issue Size	Approx 27.00 Cr 23,05,200 Equity Shares
Fresh Issue	Approx 27.00 Cr 23,05,200 Equity Shares
Offer for Sale	Approx 0.00 Cr 0 Equity Shares
Retail Portion	35.2%
Sale Type	Fresh Issue
Issue Type	Bookbuilding IPO
Listing Date	19 Feb 2026
Listing At	NSE
Total Subscription Amount	₹329.98 Cr

Investor Category

Shares Offered

% Net Issue

QIB

10,87,200

49.67%

- Anchor

6,51,600

0.00%

- QIB (Ex. Anchor)

4,35,600

0.00%

NII

3,31,200

15.13%

- bNII > ₹10L

2,19,600

0.00%

- sNII < ₹10L

1,11,600

0.00%

Retail

7,70,400

35.20%

Total

21,88,800

100.00%

Application

Lots

Amount

Individual investors (Retail) (Min)

4,800

₹5,61,600

Individual investors (Retail) (Max)

4,800

₹5,61,600

S-HNI (Min)

7,200

₹8,42,400

S-HNI (Max)

16,800

₹19,65,600

B-HNI (Min)

19,200

₹22,46,400

About Company

Contact Details

Marushika Technology Ltd.

Shop No. 5 Acharya Niketan,

Mayur Vihar,

East Delhi, New Delhi, 110091

0120-4290383

Info@marushika.in

Visit Website

Date & Time

GMP (₹)

Est. Listing Price

Est. Gain (%)

Est. Profit / Lot (₹)

19-Feb-2026 12:59 PM

+₹2

₹119

+1.71%

₹2,400

18-Feb-2026 12:59 PM

+₹2

₹119

+1.71%

₹2,400

17-Feb-2026 12:59 PM

+₹2

₹119

+1.71%

₹2,400

16-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

14-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

13-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

12-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

11-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

10-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

09-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

08-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

07-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

06-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

05-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

04-Feb-2026 10:00 AM

+₹0

₹117

+0.00%

₹0

Marushika Technology IPO Details

About Marushika Technology IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Marushika Technology IPO open and close?

What is Marushika Technology IPO price band?

What is the Marushika Technology IPO lot size?

What is the Marushika Technology IPO allotment date?

What is the Marushika Technology IPO listing date?

What is the minimum investment required in Marushika Technology IPO?

Join the discussion

Marushika Technology IPO Details

About Marushika Technology IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Marushika Technology IPO open and close?

What is Marushika Technology IPO price band?

What is the Marushika Technology IPO lot size?

What is the Marushika Technology IPO allotment date?

What is the Marushika Technology IPO listing date?

What is the minimum investment required in Marushika Technology IPO?

Join the discussion