{"id":16225,"date":"2026-02-12T11:14:36","date_gmt":"2026-02-12T05:44:36","guid":{"rendered":"https:\/\/www.torusdigital.com\/toruscope\/?p=16225"},"modified":"2026-02-12T11:14:45","modified_gmt":"2026-02-12T05:44:45","slug":"marushika-technology-ipo-opens-key-details-investors-shouldnt-miss","status":"publish","type":"post","link":"https:\/\/www.torusdigital.com\/toruscope\/news\/marushika-technology-ipo-opens-key-details-investors-shouldnt-miss\/","title":{"rendered":"Marushika Technology IPO Opens: Key Details Investors Shouldn\u2019t Miss"},"content":{"rendered":"

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In February 2026, SME IPO activity continued across diverse sectors, including companies linked to enterprise technology adoption, infrastructure modernisation, and government led digitisation projects. Businesses operating in IT infrastructure, data centre buildouts, surveillance systems, and networking have remained relevant as organisations expand digital capabilities and invest in secure, scalable technology environments.<\/p>\n

Against this backdrop, Marushika Technology Limited is set to open its IPO on February 12, 2026. Here is a detailed insight into Marushika Technology Limited, its IPO, and the industry outlook.<\/p>\n

<\/span>About Marushika Technology Ltd.<\/span><\/h2>\n

Marushika Technology Limited distributes IT and telecom infrastructure products<\/a> and also provides related services across project set up, installation, maintenance, and advisory. The company delivers a wide range of IT products and services including setting up data centres, networking, telecom systems, surveillance, cybersecurity, and power management. It also provides smart solutions such as access control, parking, lighting, and waste management.<\/p>\n

The company operates through multiple business verticals:<\/p>\n

<\/span>Business Verticals<\/span><\/h3>\n

\u2022 IT and Telecom Infra Solutions, covering data centre IT infrastructure, server and internet protocol, video wall display solutions, power solutions, and active networking
\u2022 Auto Tech Solutions for Defence<\/a>, including repairs and refurbishments, reverse engineering, and control panel related work
\u2022 Smart Solutions<\/p>\n

Marushika primarily follows a business to business model and a business to government model. Under the B2G segment, it provides services to government sector organisations such as Bharat Electronic Limited<\/a>, Central Electronic Limited, Delhi Metro Rail Corporation, and National Security Guard.<\/p>\n

Over the years, the company has completed more than 150 projects. As on July 31, 2025, it reported ongoing projects worth \u20b92,835.42 lakhs.<\/p>\n

<\/span>Competitive Strengths<\/span><\/h3>\n

\u2022 Wide range and diversified IT solutions and offerings
\u2022 Established strong relationships with original equipment manufacturers
\u2022 Experienced and qualified management team
\u2022 Presence in multiple industry verticals with long standing customer relationships
\u2022 Demonstrated track record of financial performance<\/p>\n

<\/span>Marushika Technology IPO Details<\/span><\/h2>\n

Marushika Technology IPO is a book build issue of \u20b926.97 crores. The issue is entirely a fresh issue of 0.23 crore shares aggregating to \u20b926.97 crores. The IPO price band is set at \u20b9111 to \u20b9117 per share. The issue is proposed to be listed on NSE SME.<\/p>\n

The company intends to utilise the net proceeds mainly towards repayment or pre payment of certain borrowings, funding working capital requirements, and general corporate purposes.<\/p>\n

<\/span>Important IPO Timeline<\/span><\/h3>\n
\n
\n\n\n\n\n\n\n\n\n\n\n
Event<\/th>\nDate<\/th>\n<\/tr>\n<\/thead>\n
IPO Open Date<\/td>\nFebruary 12, 2026<\/td>\n<\/tr>\n
IPO Close Date<\/td>\nFebruary 16, 2026<\/td>\n<\/tr>\n
Allotment Date (Tentative)<\/td>\nFebruary 17, 2026<\/td>\n<\/tr>\n
Initiation of Refunds<\/td>\nFebruary 18, 2026<\/td>\n<\/tr>\n
Credit of Shares to Demat<\/td>\nFebruary 18, 2026<\/td>\n<\/tr>\n
Listing Date (Tentative)<\/td>\nFebruary 19, 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n

<\/span>Key IPO Details<\/span><\/h2>\n

Here is the table on the Marushika Technology IPO Review:<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Particulars<\/th>\nDetails<\/th>\n<\/tr>\n<\/thead>\n
Face Value<\/td>\n\u20b910 per share<\/td>\n<\/tr>\n
Issue Price Band<\/td>\n\u20b9111 to \u20b9117 per share<\/td>\n<\/tr>\n
Lot Size<\/td>\n1,200 shares<\/td>\n<\/tr>\n
Total Issue Size<\/td>\n23,05,200 shares aggregating up to \u20b926.97 crore<\/td>\n<\/tr>\n
Fresh Issue<\/td>\n23,05,200 shares aggregating up to \u20b926.97 crore<\/td>\n<\/tr>\n
Issue Type<\/td>\nBookbuilding IPO<\/td>\n<\/tr>\n
Listing At<\/td>\nNSE SME<\/td>\n<\/tr>\n
Shareholding Pre issue<\/td>\n62,31,568 shares<\/td>\n<\/tr>\n
Shareholding Post issue<\/td>\n85,36,768 shares<\/td>\n<\/tr>\n
Market Capitalisation Pre IPO<\/td>\n\u20b999.88 crore<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n

<\/span>Lot Size of Marushika Technology IPO<\/span><\/h2>\n

Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereafter. The table below summarizes bidding amounts based on the upper price band.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n
Application<\/th>\nLots<\/th>\nShares<\/th>\nAmount<\/th>\n<\/tr>\n<\/thead>\n
Retail Investor Min<\/td>\n2<\/td>\n2,400<\/td>\n\u20b92,80,800<\/td>\n<\/tr>\n
Retail Investor Max<\/td>\n2<\/td>\n2,400<\/td>\n\u20b92,80,800<\/td>\n<\/tr>\n
S HNI Min<\/td>\n3<\/td>\n3,600<\/td>\n\u20b94,21,200<\/td>\n<\/tr>\n
S HNI Max<\/td>\n7<\/td>\n8,400<\/td>\n\u20b99,82,800<\/td>\n<\/tr>\n
B HNI Min<\/td>\n8<\/td>\n9,600<\/td>\n\u20b911,23,200<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n

<\/span>Marushika Technology Ltd. Financials<\/span><\/h2>\n

Marushika Technology IPO has a pre issue market capitalisation of \u20b999.88 crore. As per the restated consolidated financials, the company reported a Return on Equity of 18.52 percent as of September 30, 2025. It reported ROCE of 13.89 percent and a debt to equity ratio of 1.02. The company reported PAT margin of 6.45 percent and EBITDA margin of 11.59 percent. Price to book value is stated at 3.94.<\/p>\n

Other financial details of the company include the following:<\/p>\n

<\/span>Key Company Financials<\/span><\/h3>\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n
Period Ended<\/th>\n30 Sep 2025<\/th>\n31 Mar 2025<\/th>\n31 Mar 2024<\/th>\n<\/tr>\n<\/thead>\n
Assets<\/td>\n62.68<\/td>\n53.94<\/td>\n48.37<\/td>\n<\/tr>\n
Total Income<\/td>\n48.71<\/td>\n85.63<\/td>\n60.83<\/td>\n<\/tr>\n
Profit After Tax<\/td>\n3.14<\/td>\n6.29<\/td>\n3.14<\/td>\n<\/tr>\n
EBITDA<\/td>\n5.64<\/td>\n10.47<\/td>\n5.67<\/td>\n<\/tr>\n
Net Worth<\/td>\n18.51<\/td>\n15.37<\/td>\n8.45<\/td>\n<\/tr>\n
Reserves and Surplus<\/td>\n12.28<\/td>\n9.14<\/td>\n7.58<\/td>\n<\/tr>\n
Total Borrowing<\/td>\n18.92<\/td>\n21.37<\/td>\n19.64<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n

Amount in \u20b9 crore.<\/p>\n

<\/span>Marushika Technology Ltd.: Industry Outlook<\/span><\/h2>\n

\u2022 Growth in data centre infrastructure, networking requirements, and cybersecurity needs is supporting demand for IT and telecom infrastructure solutions
\u2022 Government sector digitisation and infrastructure projects can create steady demand for B2G focused solution providers
\u2022 Enterprise adoption of surveillance, access control, and smart infrastructure solutions continues to expand across commercial and public sector environments
\u2022 The segment remains competitive and execution driven, with performance linked to project pipeline, working capital management, and timely delivery<\/p>\n

<\/span>Conclusion<\/span><\/h2>\n

Marushika Technology Limited presents an SME IPO opportunity for investors seeking exposure to an IT and telecom infrastructure solutions provider operating across B2B and B2G segments. The company offers a diversified portfolio spanning data centre infrastructure, networking, surveillance, cybersecurity, power solutions, and smart solutions, and has executed more than 150 projects with an ongoing project base reported as of July 2025.<\/p>\n

However, investors should assess risks such as the sustainability of rapid growth, execution dependence on project pipelines, and working capital intensity typical of project driven businesses. Reviewing the offer documents in detail and aligning the investment decision with individual risk appetite remains important before participating in the IPO.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n

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