Marushika Technology IPO
Marushika Technology IPO is one of the most awaited SME public offerings, scheduled to open in February 2026. This article provides a comprehensive overview of the IPO, including its issue details, allotment process, subscription timeline, and company background. If you are considering investing, read on to learn everything you need to know.
What is Marushika Technology IPO?
Marushika Technology Limited is launching its IPO to raise ₹26.97 crores through a book-built issue of 23,05,200 equity shares. It is a fresh issue aimed at expanding the company's capital base by involving public investors. The IPO will be listed on the NSE SME platform.
IPO Issue Highlights
| Parameter | Details |
|---|---|
| IPO Open Date | February 12, 2026 |
| IPO Close Date | February 16, 2026 |
| Price Band | ₹111 to ₹117 per share |
| Lot Size | 1,200 shares |
| Minimum Application Size (Retail) | 2 lots (2,400 shares) — ₹2,80,800 (at upper price) |
| Minimum Application Size (HNI) | 3 lots (3,600 shares) — ₹4,21,200 (at upper price) |
| Market Capitalization (Pre-IPO) | ₹99.88 Crores |
| Stock Exchange Listing | NSE SME |
Key Players and Stakeholders
- Book Running Lead Manager: NEXGEN Financial Solutions Pvt. Ltd.
- Registrar of Issue: Skyline Financial Services Pvt. Ltd.
- Market Maker: Nikunj Stock Brokers Ltd.
Share Allocation Breakdown
The IPO shares are allocated across investor categories as below:
| Category | Number of Shares | Percentage of Issue |
|---|---|---|
| Qualified Institutional Buyers (QIB) | 10,87,200 | 47.16% |
| QIB (Ex-Anchor) | 4,35,600 | 18.90% |
| Non-Institutional Investors (NII) | 3,31,200 | 14.37% |
| Retail Individual Investors (RII) | 7,70,400 | 33.42% |
| Anchor Investors | 6,51,600 | 28.27% |
Investors need to bid for a minimum of 2,400 shares (2 lots) and can apply in multiples of 1,200 shares thereafter.
Business Overview of Marushika Technology Limited
Marushika Technology Limited is a provider of IT and telecom infrastructure products that caters primarily to the Business-to-Business (B2B) and Business-to-Government (B2G) segments. Their services include:
- Setting up data centers and networking systems
- Telecom infrastructure and surveillance solutions
- Cybersecurity and power management systems
- Installation, maintenance, and technical guidance
- Smart solutions including access control, parking, lighting, and waste management
The company has completed over 150 projects and has ongoing projects worth approximately ₹28.35 crores as of July 31, 2025.
Government Clients Include:
- Bharat Electronics Limited (BEL)
- Central Electronics Limited (CEL)
- Delhi Metro Rail Corporation (DMRC)
- National Security Guard (NSG)
Competitive Strengths
- Strong portfolio of government and institutional clients
- Diversified product and service range in IT and telecom sectors
- Experienced management and project execution capabilities
- Focus on integrated smart solutions for urban and industrial use cases
Use of IPO Proceeds
The company plans to utilize the net proceeds from the issue for business expansion, including:
- Funding ongoing and new projects
- Repayment of existing debts
- Investment in technology and infrastructure upgrades
- General corporate purposes
How to Apply for Marushika Technology IPO
Interested investors can apply for the IPO online or offline using various platforms. Here is a simplified step-by-step process to apply online:
- Log in to your demat account or trading platform (such as Zerodha, Upstox, 5Paisa, Nuvama).
- Go to the IPO application section and select Marushika Technology IPO.
- Choose the number of lots you want to apply for (minimum 2 lots for retail investors).
- Fill in the application form with all required details.
- Use UPI (Unified Payments Interface) or ASBA (Application Supported by Blocked Amount) for payment.
- Confirm your application and keep the acknowledgment receipt for reference.
For example, Zerodha users can apply by logging into Zerodha Console (back office) and submitting the application via UPI or ASBA.
Important Dates to Remember
| Event | Date |
|---|---|
| IPO Opening Date | Thursday, February 12, 2026 |
| IPO Closing Date | Monday, February 16, 2026 |
| Basis of Allotment Finalization | Tuesday, February 17, 2026 |
| Allotted Shares Credit Date | Wednesday, February 18, 2026 |
| Expected Listing Date on NSE SME | Thursday, February 19, 2026 (Tentative) |
How to Check Allotment Status
After the basis of allotment is finalized on February 17, 2026, investors can check their IPO allotment status online on:
- The registrar's website (Skyline Financial Services Pvt. Ltd.)
- Stock exchanges' websites
- Your broker or demat account login portal
Final Words
The Marushika Technology IPO presents an opportunity for investors to participate in a growing SME tech infrastructure company with diversified product offerings and established government clients. With a strong footing in telecom and IT sectors, and a collection of ongoing projects worth over ₹28 crores, the company seems positioned for steady growth.
Potential investors should carefully evaluate the IPO’s pricing, allotment ratio, and timing while considering their investment strategy. Applying through reliable brokers and understanding the application process can help optimize your IPO investment experience.
Remember: Always review the Red Herring Prospectus (RHP) for detailed financial and risk disclosures before applying.
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