Bookbuilding IPO | ₹70 Cr | Listing at BSE SME | Mon, Jun 1, 2026 - Wed, Jun 3, 2026 P
Merritronix IPO is a book build issue of ₹70.03 crores. The issue is entirely a fresh issue of 0.47 crore shares of ₹70.03 crore.
Merritronix IPO bidding started from Jun 1, 2026 and ended on Jun 3, 2026. The allotment for Merritronix IPO was finalized on Jun 4, 2026. Merritronix IPO will list on the BSE SME on Jun 8, 2026.
Merritronix IPO is set final issue price at ₹149 per share. The lot size for an application is 1,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,98,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹4,47,000.
GYR Capital Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd.
Refer to Merritronix IPO RHP for detailed Information.
IPO Open
Mon, Jun 1, 2026
IPO Close
Wed, Jun 3, 2026
Issue Price
₹149 per share
Market Cap (Pre-IPO)
₹260.52 Cr
| IPO Date | 1 to 3 Jun, 2026 |
| Listing Date | Mon, Jun 8, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹141 to ₹149 |
| Issue Price | ₹149 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 47,00,000 shares (agg. up to ₹70 Cr) |
| Reserved for Market Maker | 2,36,000 shares Giriraj Stock Broking Pvt.Ltd. (agg. up to ₹4 Cr) |
| Fresh Issue (Ex Market Maker) | 44,64,000 shares (agg. up to ₹67 Cr) |
| Net Offered to Public | 44,64,000 shares (agg. up to ₹67 Cr) |
| Share Holding Pre Issue | 1,27,84,854 shares |
| Share Holding Post Issue | 1,74,84,854 shares |
| BSE Script Code / | 544773 / |
| ISIN | INE1RQS01010 |
Merritronix IPO comprises a total issue size of 47,00,000 shares. The net offer to the public is 44,64,000 shares, after excluding 2,36,000 shares allotted on a firm basis. Of the Net offer 22,28,000 (49.91%) are allocated to QIB, 6,72,000 (15.05%) allocated to NII 15,64,000 (35.04%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 22,28,000 | 49.91% | 47.40% |
| − Anchor Investor Shares Offered | 13,36,000 | 28.43% | |
| − QIB (Ex. Anchor) Shares Offered | 8,92,000 | 18.98% | |
| NII (HNI) Shares Offered | 6,72,000 | 15.05% | 14.30% |
| − bNII > ₹10L | 4,48,000 | 9.53% | |
| − sNII < ₹10L | 2,24,000 | 4.77% | |
| Retail Shares Offered | 15,64,000 | 35.04% | 33.28% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,36,000 | 5.02% | |
| Total Shares Offered | 47,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 2,000 | ₹2,98,000 |
| Individual investors (IND) (Max) | 2 | 2,000 | ₹2,98,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,47,000 |
| S-HNI (Max) | 6 | 6,000 | ₹8,94,000 |
| B-HNI (Min) | 7 | 7,000 | ₹10,43,000 |
Merritronix IPO raises ₹19.91 crore from anchor investors. Merritronix IPO Anchor bid date is May 29, 2026.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, May 29, 2026 |
| Shares Offered | 13,36,000 |
| Anchor Portion (₹ Cr.) | 19.91 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Jul 3, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Sep 1, 2026 |
Incorporated in October 1988, Merritronix Limited is an Electronics Systems Design and Manufacturing (ESDM) company specializing in high-reliability, mission-critical electronic assemblies for defence, aerospace, telecom, and industrial electronics.
It offers B2B services, including component sourcing, PCB assembly, system integration, testing, box-building, and delivery of finished electronics. products, all to India's defense and aerospace standards.
As of December 31, 2025, the company's manufacturing facility has an installed capacity of 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/box build, aggregating to a total installed capacity of 17,85,000 production units per annum.
The Company received EN 9100:2018 certification for manufacturing PCBAs for aerospace and defence, equivalent to AS 9100D, JISQ 9100:2016, and includes ISO 9001:2015 standards.
The company's clients include those in defence, aerospace, electrical engineering, heavy industries, power, and utilities.
As of March 31st, 2026, the company had 57 employees in various departments.
Competitive Strength
Merritronix Ltd.'s revenue increased by 37% and profit after tax (PAT) rose by 86% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 154.40 | 74.18 | 68.44 |
| Total Income | 156.25 | 114.04 | 86.01 |
| Profit After Tax | 16.10 | 8.66 | 3.05 |
| EBITDA | 27.22 | 15.18 | 6.73 |
| NET Worth | 52.52 | 16.23 | 7.58 |
| Reserves and Surplus | 40.34 | 15.39 | 6.73 |
| Total Borrowing | 43.20 | 18.57 | 15.82 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|
| Accord Transformer & Switchgear Ltd. | SME | ₹25.59 Cr | ₹46 | ₹52.50 | +14.13% | ₹59.88 (-1.27%) |
| Avana Electrosystems Ltd. | SME | ₹35.22 Cr | ₹59 | ₹80.30 | +36.10% | ₹139.35 (+3.15%) |
| Powerica Ltd. | Mainboard | ₹1,100.00 Cr | ₹395 | ₹390.00 | -1.27% | ₹499.80 (-2.83%) |
| Atlanta Electricals Ltd. | Mainboard | ₹687.85 Cr | ₹754 | ₹823.35 | +9.20% | ₹2,044.00 (-5.00%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital expenditure towards purchase of Machinery and equipment | 21.36 |
| 2 | Funding working capital requirements | 21.95 |
| 3 | Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the Company | 12.72 |
| 4 | General corporate purposes | 7.91 |
| Total | 63.94 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 46.03% |
| ROCE | 45.26% |
| Debt/Equity | 0.81 |
| RoNW | 30.66% |
| PAT Margin | 10.33% |
| EBITDA Margin | 17.42% |
| Price to Book Value | 3.59 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 12.60 | 9.21 |
| P/E (x) | 11.83 | 16.18 |
| Promoter Holding | 85.17% | 62.28% |
| Market Cap | ₹260.52 Cr. |
The Merritronix IPO is subscribed 315.36 times on June 3, 2026 6:54:42 PM (Day 3). The public issue subscribed 297.67 times in the individual investors category, 224.91 times in the QIB category, and 476.59 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) | 224.91 | 8,92,000 | 20,06,16,000 | 0 |
| NII* | 476.59 | 6,72,000 | 32,02,71,000 | 0 |
| bNII (> ₹10L) | 563.33 | 4,48,000 | 25,23,72,000 | |
| sNII (< ₹10L) | 303.12 | 2,24,000 | 6,78,99,000 | |
| Individual Investor | 297.67 | 15,64,000 | 46,55,58,000 | 0 |
| Total | 315.36 | 31,28,000 | 98,64,45,000 | 2,88,831 |
Total Applications: 2,88,831
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees | 0.30 |
| 2 | Underwriting Fees | 3.50 |
| 3 | Fees payable to the Market maker to the Issue | 0.04 |
| 4 | Fees payable to the Registrar to the Issue | 0.05 |
| 5 | Fees payable for Advertising and Publishing Expense | 0.17 |
| 6 | Fees payable to Regulators including Stock Exchange & Depositories | 0.21 |
| 7 | Payment for Printing & Stationary, Postage etc. | 0.00 |
| 8 | Fees payable to statutory auditors, Legal Advisors & other Professionals | 0.14 |
| 9 | Other Expense (constitute processing fees of the banker to the issue, commission and brokerage payable to the SCSBs Syndicate, RTAs, CDPs and SCSBs etc., marketing expenses for the Issue and listing related out of pocket expenses etc.) | 1.68 |
| Total | 6.09 |
Lead Manager Reports
Merritronix IPO is a SME IPO of 47,00,000 equity shares of the face value of ₹10 aggregating up to ₹70 Crores. The issue is priced at ₹149 per share. The minimum order quantity is 1000.
The IPO opens on Mon, Jun 1, 2026, and closes on Wed, Jun 3, 2026.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Merritronix IPO using UPI as a payment gateway. Zerodha customers can apply in Merritronix IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Merritronix IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Merritronix IPO opens on Mon, Jun 1, 2026 and closes on Wed, Jun 3, 2026.
Merritronix IPO lot size is 1000, and the minimum amount required for application is ₹2,98,000, with 2 lots being the minimum application size.
You can apply in Merritronix 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 Merritronix IPO will be done on Thursday, June 4, 2026, and the allotted shares will be credited to your demat account by Fri, Jun 5, 2026. Check the Merritronix IPO allotment status.
The Merritronix IPO listing date is on Mon, Jun 8, 2026.
