Marushika Technology IPO Day 1: Subscription at 0.08x, GMP Flat | Live Updates

Posted by : Neeraj Pandey | Thu Feb 12 2026

The Marushika Technology IPO GMP is ₹0 as of 12th February 2026. It is a book-building issue IPO of ₹26.97 crores. This is an entirely fresh issue of 0.23 crore shares. The issue will be listed on NSE and SME on its tentative listing date, 19th February 2026. The face value of Marushika Technology IPO shares is ₹10 per share, and the IPO price band is ₹111 to ₹117 per share. Retail investors can bid for a minimum of 2 lots of 2,400 shares worth ₹2,80,800. Scroll down to check the Marushika Technology IPO GMP and subscription details.

Table of Contents

Marushika Technology IPO GMP Grey Market Premium

As mentioned earlier, the Marushika Technology IPO GMP currently stands at ₹0.00 per share. Thus, the estimated listing price would be at ₹117.00. This indicates that the estimated listing gain in this IPO could be 0.00%. Explore the table for Marushika Technology IPO GMP updates.

GMP DATE	IPO Price	GMP Price	Estimated Listing Price	Estimated Gain
12-2-2026	₹117.00	₹0.00	₹117.00	0.00%
11-2-2026	₹117.00	₹0.00	₹117.00	0.00%
10-2-2026	₹117.00	₹0.00	₹117.00	0.00%
9-2-2026	₹117.00	₹0.00	₹117.00	0.00%
8-2-2026	₹117.00	₹0.00	₹117.00	0.00%
7-2-2026	₹117.00	₹0.00	₹117.00	0.00%
6-2-2026	₹117.00	₹0.00	₹117.00	0.00%
5-2-2026	₹117.00	₹0.00	₹117.00	0.00%
4-2-2026	₹117.00	₹0.00	₹117.00	0.00%

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Marushika Technology IPO GMP status at Univest.

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Marushika Technology IPO Subscription Status

As of now, the Marushika Technology IPO has been subscribed to 0.08 times. Of these, 0.16 times are subscribed by retail investors, 0.02 times by non-institutional investors, and 0.00 times by QII (Qualified Institutional Investors).

The healthy subscription status indicates that investors are expecting higher returns at the time of Marushika Technology’s IPO listing on 19th February 2026. Marushika Technology also has a positive outlook behind the fresh issue of 0.23 crore shares, which will raise around Rs 26.97 crores.

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Marushika Technology IPO Subscription status at Univest.

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Marushika Technology IPO Details

IPO Allotment Date	17th February 2026
IPO Open Date	12th January 2026
IPO Close Date	16th February 2026
Refund Initiation	18th February 2026
Issue Size	23,05,200 shares(agg. up to ₹27 Cr)
Face Value	₹10 per share
Lot Size	1,200 Shares
Issue Price	₹111 to ₹117 per share
Issue Type	Bookbuilding IPO
Listing At	NSE SME
Listing Date	19th February 2026

Also Read: Marushika Technology IPO GMP & Review: Apply or Avoid?

Explanation

Marushika Technology IPO: Marushika Technology IPO Limited has declared an issue price band of ₹111 to ₹117 per share. With this IPO, the company allows retail investors to bid for at least 2 lots of 2,400 shares, each worth ₹2,80,800. The face value of Marushika Technology IPO Limited shares is ₹10 per share. The shares of Marushika Technology IPO Limited will be listed on NSE and SME on its tentative listing day, 19th February 2026. Scroll down to check GMP updates and Marushika Technology IPO reviews.

About Marushika Technology Ltd.

Marushika Technology Limited deals in distributing IT and telecom infrastructure products. It offers extensive IT products and services related to setting up data centres, IT networks, telecom networks, surveillance systems, cybersecurity solutions, and power management solutions. It also offers smart solutions such as access control systems, parking systems, lighting solutions, and waste management solutions. It mainly operates through the Business to Business (B2B) and Business to Government (B2G) models, where the services are offered to the government enterprises. These organisations include Bharat Electronics Limited (BEL), Central Electronics Limited (CEL), Delhi Metro Rail Corporation (DMRC), and National Security Guard (NSG). To date, the firm has completed over 150 projects, and till July 31, 2025, it has an ongoing project value of Rs. 2,835.42 Lakhs.

Marushika Technology Limited Financials

The company’s financial analysis is essential before applying for the Marushika Technology IPO. See the table for Marushika Technology Limited’s financials.

Year Ended	30th Sep 2025 (in cr.)	31st March 2025 (in cr.)	31st March 2024 (in cr.)
Assets	62.68	53.94	48.37
Revenue	48.71	85.63	60.83
Profit After Tax	3.14	6.29	3.14
EBITDA	5.64	10.47	5.67
Net Worth	18.51	15.37	8.45
Reserves and Surplus	12.28	9.14	7.58
Total Borrowings	18.92	21.37	19.64

Explanation

Marushika Technology Limited’s revenue increased by 40.76% from ₹60.83 crores in March 2024 to ₹85.63 crores in March 2025. Moreover, the company’s PAT increased by 100.31% from ₹3.14 crores in March 2024 to ₹6.29 crores in March 2025.

Marushika Technology IPO Objectives

The primary aim of the Marushika Technology IPO is to raise ₹26.97 crores. On the other hand, Fractal Analytics has decided to utilise these funds in different ways.

To Repayment and/ or pre-payment, in part or in full, of certain borrowings availed by our Company
To Funding of working capital requirement
To General Corporate Purposes

Marushika Technology IPO Registrar

Skyline Financial Services Private Limited is the registrar for the Marushika Technology IPO, awaiting the allotment process and initiating refunds. For any queries regarding the Marushika Technology allotment and refund, you can contact Skyline Financial Services Private Limited at ipo@skylinerta.com or at 02228511022.

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Marushika Technology IPO Review

The Marushika Technology IPO has gained neutral ratings from industry experts, brokers, and institutional investors. Marushika Technology Limited’s revenue increased by 40.76% from ₹60.83 crores in March 2024 to ₹85.63 crores in March 2025. Moreover, the company’s PAT increased by 100.31% from ₹3.14 crores in March 2024 to ₹6.29 crores in March 2025.

Most analysts recommend applying for this IPO to diversify your investment portfolio. However, we’re waiting for additional ratings to get a clearer picture and will keep posting them to deliver real-time insights. Until then, you can explore the company’s technical analysis to know whether you should apply for the Marushika Technology IPO or not.

Key Indicators	Value
PE Ratio (Price-to-Earnings)	11.60
EPS (Earnings Per Share)	10.09
RoNW	18.52%
ROCE	13.89%
ROE	18.52%
EBITDA Margin	11.59%
Price to Book Value	3.94
Market Capitalisation	₹99.88 Cr

The P/E ratio of Marushika Technology Limited shares is 11.60, and its Earnings Per Share (EPS) stands at 10.09. Thus, the Marushika Technology IPO can deliver gains on its tentative listing date, 19th February 2026.

Note: The data, as mentioned above, is taken from authentic sources and highlights pre-issue information. The PE ratio and EPS of Marushika Technology Limited are subject to change after the IPO. Explore the table below to get post-issue updates on these two metrics.

Indicators	Pre-IPO	Post-IPO
PE Ratio	11.60	15.91
EPS	10.09	7.35

FAQs on Marushika Technology IPO

What is the Marushika Technology IPO GMP?

Currently, on 12th February 2026, the Marushika Technology IPO GMP (Grey Market Premium) stands at ₹0. This indicates that the estimated listing price could be ₹117.00 per share.

What is the issue price of the Marushika Technology IPO?

The Marushika Technology IPO issue price band is set at ₹111 to ₹117 per share. Retail investors can apply for a minimum of 2 lots, each consisting of 2,400 shares, worth ₹2,80,000. Moreover, HNIs are required to bid for a minimum of 3 lots (3,600 shares) worth ₹4,21,200.

Who is the registrar of the Marushika Technology IPO?

Disclaimer: The above information is compiled from authentic sources and is just for informational purposes. To have detailed information about the Marushika Technology IPO, download the Marushika Technology IPO RHP and Marushika Technology IPO DRHP. Conduct your research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.