IPO details · Updated
Merritronix Limited
- Price Band
- ₹141 – ₹149
- Lot Size
- 1,000 shares
- Min. Investment
- ₹1,49,000
- Issue Size
- ₹70.03 Cr
- Offer Dates
- 1 Jun – 3 Jun 2026
- Listing
- 8 Jun 2026
Issue Details
- Total Issue Size
- ₹70.03 Cr
- 47,00,000 shares
- Fresh Issue
- ₹70.03 Cr
- 47,00,000 shares
- Offer for Sale
- ₹0 Cr
- Face Value
- ₹10 per share
- Issue Type
- Book-built IPO
- Listing At
- BSE SME
- Shares Pre-Issue
- 1,27,84,854
- Shares Post-Issue
- 1,74,84,854
IPO Timeline
Offer opens
1 Jun 2026
Offer closes
3 Jun 2026
Allotment
4 Jun 2026
Listing
8 Jun 2026
Issue Allocation
Share of the offer reserved for each investor category
- Anchor28.4%13,36,000 shares
- QIB19.0%8,92,000 shares
- HNI14.3%6,72,000 shares
- Retail33.3%15,64,000 shares
- MarketMaker5.0%2,36,000 shares
Subscription Status
Times subscribed by investor category
| Category | Offered | Bids | Subscribed |
|---|---|---|---|
| QIB | 8,92,000 | 20,06,19,720 | 224.91x |
| NII | 6,72,000 | 32,02,68,480 | 476.59x |
| Retail | 15,64,000 | 46,55,55,880 | 297.67x |
| Total | 31,28,000 | 98,64,44,080 | 315.36x |
Lot Size & Investment
1 lot = 1,000 shares
Retail (min)
2 lots · 2,000 shares
Retail (max)
2 lots · 2,000 shares
S-HNI (min)
3 lots · 3,000 shares
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 2 | 2,000 | ₹2,98,000 |
| Small HNI (S-HNI) | 3 | 3,000 | ₹4,47,000 |
| Big HNI (B-HNI) | 7 | 7,000 | ₹10,43,000 |
Financial Performance
Restated figures in ₹ crore, unless stated otherwise
| Period | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Assets | 154.4 | 74.18 | 68.44 |
| Total Income | 156.25 | 114.04 | 86.01 |
| Profit After Tax | 16.1 | 8.66 | 3.05 |
| EBITDA | 27.22 | 15.18 | 6.73 |
| Net Worth | 52.52 | 16.23 | 7.58 |
| Reserves & Surplus | 40.34 | 15.39 | 6.73 |
| Total Borrowing | 43.2 | 18.57 | 15.82 |
Key Performance Indicators
| Period | Mar-26 |
|---|---|
| ROE (%) | 46.03 |
| ROCE (%) | 45.26 |
| EPS (₹) | 12.6 |
| P/E (pre-issue) | 11.83 |
| P/E (post-issue) | 16.18 |
Peer Comparison
Listed companies in the same business
| Company | P/E | ROE |
|---|---|---|
| Centum Electronics Ltd | — | -15.09% |
| Vinyas Innovative Technologies Limited | 62.85 | 13.22% |
About Merritronix Limited
Incorporated in October 1988, Merritronix Limited is an Electronics Systems Design and Manufacturing (ESDM) company specializing in high-reliability, mission-critical electronic assemblies for defence, aerospace, telecom, and industrial electronics. It offers B2B services, including component sourcing, PCB assembly, system integration, testing, box-building, and delivery of finished electronics. products, all to India's defense and aerospace standards. As of December 31, 2025, the company's manufacturing facility has an installed capacity of 7,65,000 boards for SMT assembly, 6,00,000 boards for Through-Hole Technology (THT) assembly, and 4,20,000 units for product assembly/box build, aggregating to a total installed capacity of 17,85,000 production units per annum. The Company received EN 9100:2018 certification for manufacturing PCBAs for aerospace and defence, equivalent to AS 9100D, JISQ 9100:2016, and includes ISO 9001:2015 standards. The company's clients include those in defence, aerospace, electrical engineering, heavy industries, power, and utilities. As of March 31st, 2026, the company had 57 employees in various departments. Competitive Strength Three decades of Operating Legacy in Mission-Critical Defence and Aerospace Electronics. Established Track Record in Mission-Critical Defence and Aerospace programs. Strong Capabilities in Obsolescence Management and Lifecycle Extension. Modern SMT Infrastructure and IPC-A-610 Class 3 Assembly Capability. Strong Order Book providing revenue visibility. Experienced Promoters and Senior Management
Objects of the Issue
- Capital expenditure towards purchase of Machinery and equipment (₹21.36 Cr)
- Funding working capital requirements (₹21.95 Cr)
- Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the Company (₹12.72 Cr)
- General corporate purposes (₹7.91 Cr)
- Issue expenses (₹6.09 Cr)
Promoters
- Dovari Yesudas
- Dovari Amarnath
- Vanaja D
- Darsy Kethan Chandra
- Dovari Thaman
Company Information
- Book running lead managers
- GYR Capital Advisors Pvt.Ltd.
- Registered office
- C-22, Electronic Complex, Kushaiguda, Hyderabad, Telangana, 500062
- Market maker
- Giriraj Stock Broking Pvt.Ltd.
Official Documents
Opens the source filing in a new tab
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Disclaimer: Data on OpenIPO is for information only and is not investment advice. OpenIPO is not a SEBI-registered entity. GMP figures are unofficial estimates and may change. Verify all details against the company RHP and the official registrar before investing.