Merritronix SME: Check IPO Date, Live Subscription and Key Details
Merritronix Limited, established in 1988, is an Electronic Systems Design and Manufacturing (ESDM) enterprise specializing in high-reliability, mission-critical electronic assemblies. The company operates entirely in the B2B segment, providing end-to-end solutions that encompass component sourcing, printed circuit board assembly (PCBA), system integration, functional testing, and full box-build product deployment. Merritronix caters to demanding sectors including defence, aerospace, telecommunications, and industrial electronics, operating from an EN 9100:2018 certified facility in Hyderabad, Telangana, with an aggregate installed capacity of 17.85 lakh production units per annum.
Price Range
₹141.0 - ₹149.0
Issue Size
₹70.03 Cr
Lot Size
1,000 shares
IPO Type
BSE SME
GMP
₹90(+60.40%)
Est. Listing Price
₹239
Estimate Profit
₹1,80,000
Retail Portion
35.04%
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
9.21
P/E Ratio
16.18
RoNW
30.66%
ROE
46.03%
Debt to Equity
0.81
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Timeline
IPO Opens
1 Jun
IPO Closes
3 Jun
Allotment
4 Jun
Listing
8 Jun
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 1 June 2026 | Subscription starts |
| IPO Close Date | 3 June 2026 | Subscription ends |
| Allotment Date | 4 June 2026 | Allotment |
| Listing Date | 8 June 2026 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,98,000 |
SHNI (Min) | 3 | ₹4,47,000 |
SHNI (Max) | 6 | ₹8,94,000 |
BHNIAbove ₹10,00,000 | 7 | ₹10,43,000 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 49.91% |
| NII (Non-Institutional Investor) | 15.05% |
| SHNI (Small Non-Institutional Investor) | 4.77% |
| BHNI (Big Non-Institutional Investor) | 9.53% |
| Retail | 35.04% |
| Market Maker | 5.02% |
| Total | 100.00% |
IPO Objectives
- Funding working capital requirements of the company (₹21.95 Cr).
- Funding capital expenditure requirements towards the purchase of advanced plant machinery and equipment (₹21.36 Cr).
- Full or partial repayment or prepayment of certain outstanding borrowings availed by the company (₹12.72 Cr).
- General Corporate Purposes.
Strengths
- The company possesses an Established Deep Moat, backed by over three decades of a reliable operating legacy delivering high-specification components for specialized national defense and aerospace projects.
- It demonstrates Robust Financial Growth, with revenue increasing by 37% and net PAT accelerating by 86% between FY25 and FY26, showcasing strong operating leverage.
- The business commands Premium Capital Efficiency, delivering exceptional profitability metrics with a reported RoCE of 45.26% and an ROE of 46.03% in FY26.
- It leverages an Advanced Infrastructure Stack, implementing state-of-the-art SMT assembly lines that carry the prestigious IPC-A-610 Class 3 mission-critical qualification status.
- The issue enjoys Highly Bullish Market Sentiment, highlighted by an active Grey Market Premium (GMP) of ₹88, which implies a projected 59.06% listing gain premium for investors.
Weaknesses
- The firm has a High Working Capital Dependency, as its specialized business lines require lengthy cash conversion cycles, demanding ₹21.95 Cr of the fresh funds to be deployed explicitly for inventory and operating needs.
- There is significant Customer & Sector Concentration, leaving its financial performance heavily exposed to government budgetary allocations, defense procurement cycles, and strict regulatory clearances within the aerospace ecosystem.
- It faces Technological Obsolescence Exposure, requiring continuous capital injection and constant R&D upgrades to its high-precision machinery to keep pace with rapid shifts in global electronics engineering.
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Financial Performance
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets (₹ Cr.) | 154.4 | 74.18 | 68.44 |
| Revenue (₹ Cr.) | 156.25 | 114.04 | 86.01 |
| PAT (₹ Cr.) | 16.1 | 8.66 | 3.05 |
| Net Worth (₹ Cr.) | 52.52 | 16.23 | 7.58 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Merritronix Ltd. | 3.59 | 16.18 | 46.03% | 52.52 |
| Vinyas Innovative Tech | 10.26 | 77.62 | 13.1% | 147.77 |
| Centum Electronics Ltd | 14.98 | -135.04 | 29.34% | 394.09 |
Subscription Details
Daily Bids Status
| Category | Day 1 |
|---|---|
| QIB | 0x |
| NII | 21.63x |
| S-HNI | 18.05x |
| B-HNI | 49.49x |
| RII | 22.62x |
| Total | 15.96x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 8,92,000 | 0 | 0 |
| NII | 6,72,000 | 1,45,35,000 | 216.57 |
| Small NII | 2,24,000 | 40,43,000 | 60.24 |
| Big NII | 2,12,000 | 1,04,92,000 | 156.33 |
| RII | 15,64,000 | 3,53,78,000 | 527.13 |
| Total | 31,28,000 | 4,99,13,000 | 743.7 |
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Company Details
- Merritronix Ltd.
- C-22, Electronic Complex, Kushaiguda, Hyderabad, Telangana, 500062
- +91 8297912056
- cs@merritronix.com
- https://www.merritronix.com/
Registrar Details
- Bigshare Services Pvt.Ltd.
- +91-22-6263 8200
- ipo@bigshareonline.com
- https://www.bigshareonline.com/
Frequently Asked Questions
What does Merritronix do?
Merritronix is an Electronics Systems Design and Manufacturing (ESDM) company that designs and assembles electronic systems for industries such as aerospace, defense, and telecommunications.
What are the IPO dates for Merritronix SME IPO?
The Merritronix SME IPO will open for subscription on June 1, 2026, and close on June 3, 2026.
What is the price band and minimum investment for Merritronix IPO?
The IPO price band is fixed at ₹141 to ₹149 per share. Retail investors need to apply for a minimum of 2 lots (2,000 shares), requiring an investment of ₹2,98,000 at the upper price band.
What is the Grey Market Premium (GMP) of Merritronix IPO today?
As of May 31, 2026, the Grey Market Premium (GMP) of Merritronix IPO is around ₹88 per share, indicating an estimated listing price of about ₹237.
Where will Merritronix IPO be listed?
Merritronix IPO is proposed to be listed on BSE SME, with the tentative listing date set for June 8, 2026.
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