Marushika Technology IPO opens for subscription on February 12, 2026, and closes on February 16, 2026, with an issue size of ₹26.97 crore entirely as a fresh issue of 23.05 lakh shares for NSE SME listing. Incorporated in 2017, this Indore-based firm specializes in advanced technical textiles manufacturing, producing multilayer laminates, insulation materials, and automotive fabrics serving defense, railways, and infrastructure sectors. Marushika Technology IPO targets investors seeking niche industrial materials exposure in India’s technical textiles growth trajectory.
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Expert Opinions
Market sentiment toward Marushika Technology IPO favors cautious optimism in SME IT infrastructure space, driven by data center boom yet wary of distributor model dependencies. Company strengths encompass diversified IT/telecom portfolio spanning networking, surveillance, cybersecurity, and smart city solutions, established OEM partnerships, multi-vertical presence, and proven execution with 41% revenue growth to ₹85.63 crore.
Risks involve heavy client concentration, sector cyclicality in telecom/IT infra, working capital intensity, and execution challenges in competitive smart tech implementations. Valuation analysis for Marushika Technology IPO and year 2025 highlights Return on Equity (ROE) of 52.77%, ROCE of 26.88%, and Net Asset Value (NAV) of ₹24.45, trading at modest 11.45x P/E amid 7.37% PAT margins. Long-term investment perspective benefits from India’s digital infra push including 5G rollout and data localization mandates fueling sustained demand.
Investor Considerations
Marushika Technology IPO reflects strong company performance and fundamentals in FY 2025, achieving revenue of ₹85.24 crore with 41% growth, PAT at ₹6.28 crore, and EBITDA margins expanding to 13.06% through diversified IT infrastructure distribution. Technical textiles and IT infra sector outlook surges at 25% CAGR, fueled by 5G rollout, smart cities, and defense localization mandates.
IPO Valuation of Financial Year 2025 for Marushika Technology IPO and year displays Price to Book Value of ₹4.74, PAT Margin of 7.37%, and Debt/Equity of 1.39, balancing growth with moderate leverage. Growth prospects emphasize capacity expansion and new OEM partnerships targeting ₹150 crore topline. Risk factors include customer concentration, inventory working capital cycles, raw material volatility, and project execution delays. Short-term investment goals face SME volatility premiums, while long-term horizons leverage digital India compounding returns.
| Date | GMP | Trend |
|---|---|---|
| 06 Feb 2026 19.44 | ₹00 | --- |
| 05 Feb 2026 21.36 | ₹00 | --- |
FAQs
Marushika Technology IPO Current GMP is ₹00.
Marushika Technology IPO Expected Returns is 0.00%.
Marushika Technology IPO estimated listing price is ₹117.