Marushika Technology IPO Details
The key details of Marushika Technology’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹26.97 Crores |
| Price Range | ₹111 - ₹117 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | -- |
| Listing at | NSE |
| Minimum Quantity | 2,400 |
| Investment (cut-off price) | ₹2,80,800 |
| Pre IPO Promotor Holding | 79.71% |
| Post IPO Promotor Holding | 58.19% |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Marushika Technology IPO Timelines
The IPO process for Marushika Technology includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
12/02/2026
Start Date16/02/2026
End Date18/02/2026
Refund Initiation18/02/2026
Credit of Shares to Demat Ac19/02/2026
Listing DateMarushika Technology IPO Lot Size
The Marushika Technology IPO has a fixed lot size of 1200 shares, at an upper price band of ₹117 per share. For retail investors, the minimum and maximum application is 2400 shares (2 lots) worth ₹2,80,800. For Small HNI (S-HNI) investors, the minimum application is 3,600 shares (3 lots) worth ₹4,21,200, while the maximum is 8,400 shares (7 lots) amounting to ₹9,82,800. Big HNI (B-HNI) investors need to apply for at least 9,600 shares (8 lots), totaling ₹11,23,200.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2400 | ₹2,80,800 |
| Retail Maximum | 2 | 2400 | ₹2,80,800 |
| S-HNI Minimum | 3 | 3600 | ₹4,21,200 |
| S-HNI Maximum | 7 | 8400 | ₹9,82,800 |
| B-HNI Minimum | 8 | 9600 | ₹11,23,200 |
Marushika Technology IPO Subscription Status
The subscription status for Marushika Technology IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ |
Marushika Technology IPO Company Financials
Marushika Technology reports robust performance in FY2025 with Total Income of ₹85.63 crores, managing expenses at ₹77.17 crores, and achieving a strong PAT (Profit After Tax) of ₹6.29 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2024 | ₹60.83 | ₹56.77 | ₹3.14 |
| FY 2025 | ₹85.63 | ₹77.17 | ₹6.29 |
| FY 2026 (6 M) | ₹48.71 | ₹44.54 | ₹3.14 |
About Company
Marushika Technology Limited is an IT and telecom infrastructure company that distributes and delivers a wide range of technology products and services. Its offerings include data center setup, networking, telecom systems, surveillance, cybersecurity, power management, and videowall display solutions. The company also provides installation, maintenance, and technical guidance, along with smart solutions such as access control, parking systems, smart lighting, and waste management. In addition, it operates in auto tech solutions for defence, offering services like repairs, refurbishments, reverse engineering, and control panel development.
The company primarily operates under Business to Business and Business to Government models, serving major government and public sector organizations such as Bharat Electronics Limited, Central Electronics Limited, Delhi Metro Rail Corporation, and the National Security Guard. Over the years, Marushika Technology Limited has successfully completed more than 150 projects. As of July 31, 2025, the company had ongoing projects valued at Rs 2,835.42 lakhs, reflecting its strong project pipeline and continued presence in the IT, telecom, and smart solutions sectors.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2010 | IT (Information Technology) | Monicca Agarwaal |
Know Before Investing
Marushika Technology IPO Strengths
- End-to-end capabilities in data centers, networking, surveillance, cybersecurity, and power management position company as integrated solutions provider for enterprises and PSUs.
- Established vendor status with Bharat Electronics, Delhi Metro, Central Electronics Limited, and NSG through competitive tender wins creates revenue visibility and credibility.
- Urban management technologies including access control, parking systems, and surveillance tap into multi-year municipal digitalization budgets under Smart Cities Mission.
- Vehicle refurbishment and maintenance services leverage Atmanirbhar Bharat defence indigenization creating adjacent growth opportunities beyond core IT infra.
- Distribution agreements with global and Indian technology leaders ensure product authenticity, technical support, and competitive pricing advantages.
- Project-based implementation with recurring AMC contracts generates operating leverage as order volumes expand without proportional overhead increases.
Marushika Technology IPO Risks
- Revenue heavily reliant on PSU contracts exposes business to bidding losses, policy shifts, and project delays inherent in public procurement processes.
- Historical government dues stretching beyond 180 days strain operations during simultaneous project executions requiring bridge financing.
- Multi-location IT infrastructure rollouts carry scope creep, integration failures, and liquidated damages risks impacting profitability.
- Dependence on limited OEMs exposes margins to supply chain disruptions, pricing revisions, or relationship terminations.
- Delhi-NCR centric operations vulnerable to regional infrastructure slowdowns or municipal budget reprioritizations.
- Talent wars for network engineers, cybersecurity experts, and project managers drive wage inflation in specialized IT services segment.
Swot Analysis for Marushika Technology IPO
Strengths
End-to-End IT Infrastructure, B2B/B2G Model, Defence Auto-Tech Diversification
Weaknesses
Government Revenue Dependency, OEM Supply Chain Depends, Working Capital Intensive
Opportunities
Smart Cities Mission Expansion, Data Centre Boom, Cybersecurity Mandates
Threats
Government Tender Competition, OEM Pricing Pressure, Execution Risks
Company Details
Marushika Technology Ltd.
Shop No. 5 Acharya Niketan, Mayur Vihar, East Delhi, New Delhi, 110091
Phone: 0120-4290383
Email: Info@marushika.in
Website: http://www.marushika.in/
IPO Registar Details
Skyline Financial Services Pvt. Ltd.
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
FAQs
The key objectives of Marushika Technology SME IPO are:
- Repayment and/ or pre-payment, in part or full, of certain borrowings availed by Company
- Funding of working capital requirement
- General Corporate Purposes
NEXGEN Financial Solutions Pvt. Ltd. is the book-running lead managers for the Marushika Technology IPO.
Marushika Technology’s growth potential is supported by rising demand for data center infrastructure, smart solutions, and defence electronics under Digital India and Atmanirbhar Bharat initiatives. Strong relationships with PSUs, exposure to high margin B2B and defence segments, and expanding infrastructure digitization create a multi year growth runway.
The issue price for the Marushika Technology IPO is set between ₹111 to ₹117 per share.
To invest in two lot of Marushika Technology IPO, you need ₹2,66,400 at the lower price band (₹111 per share) or ₹2,80,800 at the upper price band (₹117 per share) for a lot size of 2400 shares.
Marushika Technology IPO shares are scheduled to be listed on the National Stock Exchange (NSE) on February 19, 2026.
Refund/unblocking of funds for Marushika Technology IPO will begin on February 18, 2026. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Marushika Technology IPO shares on listing day (February 19, 2026) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.