Merritronix SME IPO
Merritronix IPO — date, price band, GMP & allotment 2026
Merritronix SME IPO is related to Hyderabad-based Merritronix Limited, which was incorporated in 1988 and operates in the Electronics Systems Design and Manufacturing (ESDM) segment. The company provides high-reliability electronic manufacturing services for defence, aerospace, telecom and industrial sectors. Its business model is mainly B2B, covering PCB assembly, system integration, testing and box-build solutions. Merritronix has a strong presence in strategic and mission-critical electronics manufacturing with operations centred in Hyderabad, Telangana
Stock price
Merritronix is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 13 September.
- Open 01 Jun 2026
- Close 03 Jun 2026
- Allotment 04 Jun 2026
- Refund/credit 05 Jun 2026
- Listing 08 Jun 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 1 to 3 Jun, 2026 |
|---|---|
| Price Band | ₹141 – ₹149 |
| Face Value | ₹10 |
| Lot Size | 1000 Shares |
| Issue Size | ₹70 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE SME |
| Registrar | Bigshare Services Private Limited |
| Min Investment | ₹ 2,98,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 1000 shares at the ₹149 cut-off. The SME retail application is a fixed 2 lots; HNI starts at 3.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 2 | 2,000 | ₹2,98,000 |
| Retail (max) | 2 | 2,000 | ₹2,98,000 |
| HNI (min) | 3 | 3,000 | ₹4,47,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Strong presence in defence and aerospace electronics manufacturing.
- 02Certified EN 9100:2018 quality standards improve credibility in mission-critical sectors.
- 03Advanced SMT manufacturing capability supports high-end electronic assemblies.
- 04Revenue growth has remained strong with improving profitability margins.
- 05IPO proceeds aimed at machinery expansion and working capital support future scaling.
Risks · 5
- 01Business depends heavily on defence and government-linked sectors.
- 02SME IPOs generally carry lower liquidity and higher price volatility risk.
- 03Electronics manufacturing business remains working-capital intensive.
- 04Limited employee base may affect scalability during rapid expansion.
- 05Competition from larger ESDM and PCB manufacturing companies may pressure margins.
Three years of numbers
All figures in ₹ crore, as reported in the Merritronix offer document.
| Metric | 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 |
See how this IPO compares — view listing performance of all SME IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Merritronix RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Merritronix IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹9.21 |
| P/E Ratio (x) | 16.18 |
| Market Cap at Offer Price (₹ Cr) | ₹260.47 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹149 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹112.07 Cr of the issue is earmarked to named objects.
About the company
The company operates on a B2B business model, where it provides products and technical services to OEMs, industrial customers, and technology-driven businesses. Its offerings include electronic assemblies, control systems, PCB-related solutions, and other value-added engineering services. Merritronix is promoted by experienced industry professionals who focus on innovation, quality standards, and long-term customer relationships. The company aims to strengthen its market presence by expanding capabilities and catering to the rising demand for electronics manufacturing in India.
Interested in this IPO? Check the live subscription status or browse all upcoming SME IPOs.
+91 8297912056
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
GYR Capital Advisors Pvt.Ltd.
10 issues handled (2 mainboard, 8 SME)Best listing: Shree Balaji (Mala) Textiles (+90.0%). Weakest: Indo SMC (0.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Merritronix?
The current Grey Market Premium is ₹73, or 49% over the issue price.
What is the Merritronix IPO price band?
₹141 to ₹149, on a face value of ₹10.
When is the allotment?
The basis of allotment is 4 June 2026, with listing on 8 June 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Bigshare Services Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every SME and Mainboard issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
