Marushika Technology IPO open date is February 12, 2026 and the IPO will close on February 16, 2026. The IPO allotment is expected on February 17, 2026 and the company is scheduled to list on NSE SME on February 19, 2026.
The IPO is a book built issue with a price band of ₹111 to ₹117 per share. The company plans to raise approximately ₹26.97 crores through this IPO.
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Marushika Technology IPO Details
| Particular | Details |
|---|---|
| IPO Open Date | February 12, 2026 |
| IPO Close Date | February 16, 2026 |
| Face Value | ₹10 per equity share |
| IPO Price Band | ₹111 to ₹117 per share |
| Issue Size | Approx ₹26.97 crores |
| Fresh Issue | Approx ₹26.97 crores |
| Offer for Sale | Up to [.] equity shares |
| Issue Type | Book build issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | View PDF |
| RHP Draft Prospectus | View PDF |
Marushika Technology IPO
Open: 9-11 Feb
Issue Size: ₹26.97 Cr.
Objective: Raise funds to grow IT distribution & strengthen infrastructure offerings
Exchange: NSE SME
Marushika Technology IPO Review
The review of the Marushika Technology IPO is neutral. The company has shown consistent growth in revenue and profitability during the last two financial years. Its diversified presence in IT infrastructure, telecom solutions and defence-related services offers business stability, especially through government contracts.
However, the company operates in a competitive and project-driven segment where margins depend heavily on execution and order inflow. Considering the valuation visibility and moderate financial leverage, long-term investors with moderate risk appetite may consider this IPO after evaluating their portfolio suitability.
Marushika Technology IPO Market Lot
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2,400 | ₹2,80,800 |
| Retail Maximum | 2 | 2,400 | ₹2,80,800 |
| S-HNI Minimum | 3 | 3,600 | ₹4,21,200 |
| S-HNI Maximum | 7 | 8,400 | ₹9,82,800 |
| B-HNI Minimum | 8 | 9,600 | ₹11,23,200 |
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IPO Reservation
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | 6,51,600 shares | 28.27% |
| QIB (Ex. Anchor) | 4,35,600 shares | 18.90% |
| NII shares offered | 3,31,200 shares | 14.37% |
| Retail shares offered | 7,70,400 shares | 33.42% |
Marushika Technology IPO Anchor Investors
| Particular | Details |
|---|---|
| Anchor bidding date | February 11, 2026 |
| Anchor investors list | View PDF |
| Shares offered | 6,51,600 shares |
| Anchor size | [.] Cr. |
| Lock-in period end date for 50% shares (30 days) | March, 2026 |
| Lock-in period end date for 50% shares (90 days) | May, 2026 |
Marushika Technology IPO Dates
| Event | Date |
|---|---|
| IPO open date | February 12, 2026 |
| IPO close date | February 16, 2026 |
| Basis of allotment | February 17, 2026 |
| Refunds | February 18, 2026 |
| Credit to demat account | February 18, 2026 |
| IPO listing date | February 19, 2026 |
| IPO bidding cut-off time | February 16, 2026 – 5 PM |
Promoters and holding pattern
The promoters of the company are Ms. Monicca Agarwaal, Mr. Jai Prakash Pandey and Ms. Sonika Aggarwal.
| Particular | Shares | % Share |
|---|---|---|
| Promoter holding pre issue | 62,31,568 | 79.71% |
| Promoter holding post issue | 84,78,568 | -% |
Objects of the issue
The company proposes to utilise the net proceeds primarily towards repayment and or pre-payment, in part or full, of certain borrowings amounting to ₹5.89 crores. A significant portion of the proceeds, around ₹18.00 crores, will be used to meet working capital requirements to support ongoing and future project execution.
The remaining amount, if any, will be deployed towards general corporate purposes to strengthen overall operational and financial flexibility.
About Marushika Technology IPO
Marushika Technology Limited was incorporated on July 03, 2010 and is engaged in providing IT and telecom infrastructure products and services. The company offers end-to-end solutions including data centre setup, networking, telecom systems, surveillance solutions, cyber security and power management services.
The company also delivers installation, maintenance and technical support services. In addition, it provides auto-tech solutions for the defence sector, including maintenance, refurbishment and reverse engineering of military vehicles. The company operates mainly on a B2B and B2G business model.
Its major government and public sector clients include Bharat Electronics Limited, Central Electronics Limited, Delhi Metro Rail Corporation and National Security Guard.
Marushika Technology IPO Company Financial Report
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 60.83 | 56.77 | 3.14 | 48.37 |
| 2025 | 85.63 | 77.17 | 6.29 | 53.94 |
| Sep 2025 | 48.71 | 44.54 | 3.14 | 62.68 |
Marushika Technology IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE | -% |
| ROCE | 26.88% |
| EBITDA Margin | 12.63% |
| PAT Margin | 7.37% |
| Debt to equity ratio | 1.39 |
| Earnings per share (EPS) | ₹9.70 (Basic) |
| Price to earnings ratio | N/A |
| Return on net worth (RoNW) | 55.94% |
| Net asset value (NAV) | ₹24.45 |
Peer group comparison
| Company | EPS | PE Ratio | RoNW | NAV | Income |
|---|---|---|---|---|---|
| Vertexplus Technologies Limited | 1.56 | 70.00 | 3.56% | 44.75 | 0.86 Cr. |
| Synoptics Technologies Limited | 4.76 | 16.39 | 5.96% | 82.34 | 4.04 Cr. |
IPO lead managers (merchant bankers)
Nexgen Capitals Ltd.
Company address
| Particular | Details |
|---|---|
| Company name | Marushika Technology Ltd. |
| Address | Shop No. 5, Acharya Niketan, Mayur Vihar, East Delhi, New Delhi – 110091 |
| Phone | 0120-4290383 |
| Info@marushika.in | |
| Website | http://www.marushika.in/ |
IPO registrar
| Particular | Details |
|---|---|
| Registrar name | Skyline Financial Services Pvt. Ltd. |
| Phone | 02228511022 |
| ipo@skylinerta.com | |
| Website | https://www.skylinerta.com/ipo.php |
Marushika Technology IPO FAQ
What is Marushika Technology IPO price band?
The IPO price band is ₹111 to ₹117 per equity share.
What is Marushika Technology IPO lot size?
The minimum bid size is 2,400 shares with an application amount of ₹2,80,800.
What is the Marushika Technology IPO allotment date?
The basis of allotment is expected to be finalised on February 17, 2026.
What is the Marushika Technology IPO listing date?
The IPO is scheduled to be listed on February 19, 2026 on NSE SME.
What is Marushika Technology IPO?
Marushika Technology IPO is an SME IPO. The company plans to raise ₹26.97 crores through the issue. The IPO price band is fixed at ₹111 to ₹117 per equity share and the shares will be listed on NSE SME.
When will Marushika Technology IPO open for subscription?
The IPO will open for subscription on February 12, 2026 and will close on February 16, 2026 for QIB, NII and retail investors.
What is Marushika Technology IPO investors’ portion?
The investors’ reservation is QIB 50 percent, NII 15 percent and retail 35 percent.
The investors’ reservation is QIB 50 pHow to apply for Marushika Technology IPO?
Investors can apply through ASBA using their bank account or apply through UPI via their stockbroker’s platform. Offline application through registered brokers is also available.
How to apply for Marushika Technology IPO?
Investors can apply through ASBA using their bank account or apply through UPI via their stockbroker’s platform. Offline application through registered brokers is also available.
What is Marushika Technology IPO issue size?
The total issue size of Marushika Technology IPO is approximately ₹26.97 crores.
Expert comment
Marushika Technology IPO presents a steady infrastructure and defence-linked technology business with improving profitability and strong public sector exposure.
While growth visibility remains supported by government digital and security spending, investors should carefully assess execution risk, working capital intensity and moderate leverage before taking long-term exposure. For patient investors seeking niche SME participation, the issue can be considered selectively.
