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| IPO Listing At | BSE SME |
| SME IPO Issue Type | Book Build Issue |
| Total Issue Size | ₹70.03 Cr |
| Reserved for Market Maker | ₹3.52 Cr |
| Net Issue Size | ₹70.03 Cr |
| Fresh Issue | ₹66.51 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹141.00-149.00 per share |
| BSE Code | 544773 |
| Registrar | Bigshare Services Pvt.Ltd. |
| Lead Managers | GYR Capital Advisors Pvt.Ltd. |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 2,000 shares · Multiples of 1,000 shares
Merritronix Limited operates as an Electronics Systems Design and Manufacturing (ESDM) company focused on producing high-reliability and mission-critical electronic assemblies for sectors such as defence, aerospace, telecommunications, and industrial electronics.
The company provides end-to-end B2B manufacturing solutions that include component procurement, PCB assembly, system integration, testing, box-build assembly, and delivery of fully assembled electronic products compliant with Indian defence and aerospace quality requirements.
As of December 31, 2025, Merritronix’s manufacturing facility had an annual installed production capacity of:
This results in a combined installed capacity of 17,85,000 production units per annum.
The company has obtained EN 9100:2018 certification for manufacturing PCBAs for aerospace and defence applications. This certification is aligned with AS 9100D and JISQ 9100:2016 standards and also incorporates ISO 9001:2015 quality standards.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital expenditure towards purchase of Machinery and equipment | 21.36 |
| 2 | Funding working capital requirements | 21.95 |
| 3 | Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the Company | 12.72 |
| 4 | General corporate purposes | 7.91 |
| 5 | Issue expenses | 6.09 |
| Total | 70.03 |
Merritronix Ltd.'s revenue increased by 37% and profit after tax (PAT) rose by 86% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 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 |
| Amount in ₹ Crore | |||
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 46.03% |
| ROCE | 45.26% |
| Debt / Equity | 0.81% |
| RoNW | 30.66% |
| PAT Margin | 10.33% |
| EBITDA Margin | 17.42% |
| Price to Book Value | 3.59 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 12.60 | 9.21 |
| P/E (x) | 11.83 | 16.18 |
| Promoter Holding | 85.17% | 62.28% |
| Market Cap | ₹260.52 Cr. | |
