Bookbuilding IPO | ₹27 Cr | Listed at NSE SME | Thu, Feb 12, 2026 - Mon, Feb 16, 2026
Marushika Technology IPO is a book build issue of ₹26.97 crores. The issue is entirely a fresh issue of 0.23 crore shares of ₹26.97 crore.
Marushika Technology IPO bidding started from Feb 12, 2026 and ended on Feb 16, 2026. The allotment for Marushika Technology IPO was finalized on Feb 17, 2026. The shares got listed on NSE SME on Feb 19, 2026.
Marushika Technology IPO price band is set at ₹117 per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹2,80,800 (2,400 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,600 shares), amounting to ₹4,21,200.
NEXGEN Financial Solutions Pvt. Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to Marushika Technology IPO RHP for detailed Information.
IPO Open
Thu, Feb 12, 2026
IPO Close
Mon, Feb 16, 2026
Issue Price
₹117 per share
Market Cap (Pre-IPO)
₹99.88 Cr
| IPO Date | 12 to 16 Feb, 2026 |
| Listed on | Thu, Feb 19, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹111 to ₹117 |
| Issue Price | ₹117 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 23,05,200 shares (agg. up to ₹27 Cr) |
| Reserved for Market Maker | 1,16,400 shares Nikunj Stock Brokers Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 21,88,800 shares (agg. up to ₹26 Cr) |
| Net Offered to Public | 21,88,800 shares (agg. up to ₹26 Cr) |
| Share Holding Pre Issue | 62,31,568 shares |
| Share Holding Post Issue | 85,36,768 shares |
| NSE Symbol | MARUSHIKA |
| ISIN | INE0X7G01013 |
Marushika Technology IPO comprises a total issue size of 23,05,200 shares. The net offer to the public is 21,88,800 shares, after excluding 1,16,400 shares allotted on a firm basis. Of the Net offer 10,87,200 (49.67%) are allocated to QIB, 3,31,200 (15.13%) allocated to NII 7,70,400 (35.20%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 10,87,200 | 49.67% | 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 | 15.13% | 14.37% |
| − bNII > ₹10L | 2,19,600 | 9.53% | |
| − sNII < ₹10L | 1,11,600 | 4.84% | |
| Retail Shares Offered | 7,70,400 | 35.20% | 33.42% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,16,400 | 5.05% | |
| Total Shares Offered | 23,05,200 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
| 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 raises ₹7.62 crore from anchor investors. Marushika Technology IPO Anchor bid date is February 11, 2026.
📝 Anchor Investors Letter (PDF)
| 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 |
Marushika Technology Limited distributes IT and telecom infrastructure products. The company delivers wide range of IT products and services like set up data centers, networking, telecom systems, surveillance, cybersecurity, and power management. It also offers installation, maintenance, and guidance and provide smart solutions such as access control, parking, lighting, and waste management.
Business Verticals
The company primarily follows Business to Business (B2B) business model and Business to Government (B2G) model, where services are offered to Government sector like Bharat Electronic Limited (BEL), Central Electronic Limited (CEL), Delhi Metro Rail Corporation (DMRC) and National Security Guard (NSG).
Over the years, the company has completed more than 150 projects and as on july 31, 2025, it has ongoing projects worth Rs 2,835.42 Lakhs.
Competitive Strengths
| 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 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment and/ or pre-payment, in part or full, of certain borrowings availed by our Company | 5.00 |
| 2 | Funding of working capital requirement | 14.68 |
| 3 | General Corporate Purposes | 3.29 |
| Total | 22.97 |
| 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 (₹) | 10.09 | 7.35 |
| P/E (x) | 11.6 | 15.91 |
| Promoter Holding | 79.71% | 58.19% |
| Market Cap | ₹99.88 Cr. |
The Marushika Technology IPO is subscribed 17.94 times on February 16, 2026 6:55:00 PM (Day 3). The public issue subscribed 16.51 times in the individual investors category, 2.92 times in the QIB category, and 41.00 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| QIB (Ex Anchor) | 2.92 | 4,35,600 | 12,73,200 | 10 |
| NII* | 41.00 | 3,31,200 | 1,35,78,000 | 1,842 |
| bNII (> ₹10L) | 50.69 | 2,19,600 | 1,11,31,200 | |
| sNII (< ₹10L) | 21.92 | 1,11,600 | 24,46,800 | |
| Individual Investor | 16.51 | 7,70,400 | 1,27,20,000 | 5,300 |
| Total | 17.94 | 15,37,200 | 2,75,71,200 | 7,152 |
Total Applications: 7,152
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead manager(s) fees | 1.00 |
| 2 | Underwriting commission | 1.34 |
| 3 | Brokerage, selling commission and upload fees | 0.01 |
| 4 | Registrars to the issue | 0.02 |
| 5 | Legal Advisors | 0.05 |
| 6 | Advertising Expenses and Marketing expense | 0.05 |
| 7 | Regulators including stock exchanges | 0.10 |
| 8 | Printing and Distribution of Issue Stationary | 0.02 |
| 9 | Others, if any (Market Maker fees, Peer Review Auditor, Selling and Distribution Expenses, Marketing Expenses and other misc. expenses) | 1.41 |
| Total | 4.00 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹117.00 |
| Open | ₹120.00 |
| Low | ₹114.00 |
| High | ₹123.00 |
| Last Trade | ₹114.00 |
Lead Manager Reports
Marushika Technology IPO is a SME IPO of 23,05,200 equity shares of the face value of ₹10 aggregating up to ₹27 Crores. The issue is priced at ₹117 per share. The minimum order quantity is 1200.
The IPO opens on Thu, Feb 12, 2026, and closes on Mon, Feb 16, 2026.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Marushika Technology IPO using UPI as a payment gateway. Zerodha customers can apply in Marushika Technology IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Marushika Technology IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Marushika Technology IPO opens on Thu, Feb 12, 2026 and closes on Mon, Feb 16, 2026.
Marushika Technology IPO lot size is 1200, and the minimum amount required for application is ₹2,80,800, with 2 lots being the minimum application size.
You can apply in Marushika Technology IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Marushika Technology IPO will be done on Tuesday, February 17, 2026, and the allotted shares will be credited to your demat account by Wed, Feb 18, 2026. Check the Marushika Technology IPO allotment status.
The Marushika Technology IPO listing date is on Thu, Feb 19, 2026.
