Merritronix IPO Listing Preview on 8 June 2026: GMP Rs 90, Expected Listing Price Rs 239 and 60% Listing Gain Analysis

Merritronix IPO listing is scheduled for 8 June 2026 on the BSE SME platform, with the allotment of shares finalised on 4 June 2026 today. It is generating strong pre-listing interest, with the grey market premium (GMP) currently tracking at approximately Rs 90 per share against the issue price of Rs 149 per share. This implies an expected listing price of around Rs 239, representing a potential listing gain of approximately 60% over the issue price. Investors who received allotment can check status on the Bigshare Services website using their PAN or application number.

The listing follows a strong subscription period that closed on 3 June 2026. The IPO raised Rs 70.03 crore entirely through a fresh issue of 47,00,000 equity shares of face value Rs 10 each. The company had also raised Rs 19.91 crore from anchor investors including domestic institutions on 29 May 2026. GYR Capital Advisors Pvt. Ltd. was the book running lead manager for the Merritronix IPO, and Bigshare Services Pvt. Ltd. is the registrar.

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Merritronix IPO Listing: Key Dates and Details

Detail	Value
IPO Listing Date	8 June 2026 (tentative)
Exchange	BSE SME
Issue Price	Rs 149 per share (upper price band)
Price Band	Rs 141 to Rs 149
Issue Size	Rs 70.03 Crore (100% fresh issue)
Allotment Date	4 June 2026
Shares Credited	5 June 2026
GMP Today	~Rs 90 per share
Expected Listing Price (GMP-based)	~Rs 239 per share (~60% premium)
Lot Size	1,000 shares (min 2 lots = 2,000 shares for retail)
Minimum Investment (Retail)	Rs 2,98,000
Registrar	Bigshare Services Pvt. Ltd.

About Merritronix Limited: Defence ESDM Company

The company behind this listing was incorporated in October 1988 and headquartered at Electronic Complex, Kushaiguda, Hyderabad, Telangana. Merritronix Limited is an Electronics Systems Design and Manufacturing (ESDM) company specialising in high-reliability, mission-critical electronic assemblies for defence, aerospace, telecom, and industrial electronics sectors. The company follows a B2B business model offering component sourcing, PCB assembly using advanced Surface Mount Technology (SMT) including Ball Grid Array (BGA) and micro-BGA components, system integration, testing, and box-build solutions.

Listing interest is supported by the company’s unique positioning in India’s defence electronics ecosystem. Defence and aerospace accounted for 97.81% of the company’s FY26 revenue, making it a near-pure-play defence ESDM company. Revenue grew from Rs 85.70 crore in FY24 to Rs 155.59 crore in FY26, a compound annual growth rate of approximately 34.7%. Profit after tax expanded from Rs 3.05 crore in FY24 to Rs 16.10 crore in FY26. This listing comes at a time when Atmanirbhar Bharat policies are driving strong demand for domestic defence electronics manufacturers.

Merritronix IPO Listing GMP Analysis: What the Grey Market Is Saying

The Merritronix IPO listing GMP of approximately Rs 90 per share as of 4 June 2026 is one of the stronger GMP readings in the current IPO market. The GMP peaked at Rs 95 on 23 May 2026 before settling in the Rs 84 to Rs 90 range during the subscription period. Based on a GMP of Rs 90 and the upper price band of Rs 149, the indicative listing price works out to approximately Rs 239, representing a listing premium of around 60%.

Investors should note that the actual listing performance on 8 June 2026 may differ significantly from GMP-implied levels. GMP is an unofficial, unregulated indicator based on grey market transactions and does not guarantee any specific listing price or listing gain. The actual listing price will be determined by real-time buy and sell orders on BSE SME on 8 June 2026.

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Merritronix IPO Listing: Use of Proceeds and IPO Objectives

The net proceeds from the Merritronix IPO listing are to be used for three primary purposes: capital expenditure towards purchase of machinery and equipment (Rs 21.36 crore), funding working capital requirements (Rs 21.95 crore), and repayment of outstanding borrowings (Rs 12.72 crore). The remaining proceeds are earmarked for general corporate purposes.

Key Risks to Watch After Merritronix IPO Listing

Negative Operating Cash Flows in FY26

Despite strong revenue and PAT growth, Merritronix reported negative operating cash flows of Rs 23.38 crore in FY26. This reflects the working capital intensity of the defence electronics business, where long procurement and payment cycles from government clients create extended receivables. Investors monitoring the Merritronix IPO listing should track how the company manages working capital post-listing, as continued negative operating cash flows could pressure the balance sheet even as reported profits grow.

Geographic and Customer Concentration

Merritronix derives 98.19% of its revenue from Telangana and 97.81% from the defence and aerospace segment. This dual concentration creates significant risk if defence procurement cycles slow, a key customer reduces orders, or regulatory changes affect the company’s approved vendor status. Investors tracking the Merritronix IPO listing should factor in this concentration when assessing the stock’s long-term risk profile.

SME Platform Liquidity Constraints

The Merritronix IPO listing will take place on the BSE SME platform, which typically has lower daily trading volumes compared to mainboard-listed stocks. This can create price volatility and difficulty in exiting positions at desired prices, particularly for investors holding large quantities of shares. SME-listed stocks can see significant price swings relative to their market cap, and the Merritronix IPO listing is no exception.

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Conclusion

This listing on 8 June 2026 on BSE SME is one of the most anticipated SME listings of the current cycle, with a GMP of approximately Rs 90 implying a 60% listing premium over the Rs 149 issue price. The company’s defence ESDM positioning, strong revenue growth of 34.7% CAGR, and Atmanirbhar Bharat tailwinds make the Merritronix IPO listing fundamentally interesting for long-term investors. However, risks around negative operating cash flows, high revenue concentration, and SME platform liquidity constraints are important factors to assess before making any post-listing investment decision.

Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice.

Frequently Asked Questions on Merritronix IPO Listing

What is the Merritronix IPO listing date?

Ans. The listing date is tentatively 8 June 2026 on the BSE SME platform. The Merritronix IPO allotment was expected on 4 June 2026. Investors can check their Merritronix IPO listing allotment status on the Bigshare Services registrar website using their PAN or application number.

What is the Merritronix IPO listing GMP today?

Ans. The GMP is approximately Rs 90 per share as of 4 June 2026. Based on the upper price band of Rs 149, this implies an expected Merritronix IPO listing price of approximately Rs 239, representing a potential listing gain of around 60%. GMP is an unofficial indicator and does not guarantee actual listing gains.

What is the expected Merritronix IPO listing price?

Ans. The GMP-implied expected Merritronix IPO listing price is approximately Rs 239 per share, based on a GMP of Rs 90 over the issue price of Rs 149. However, the actual Merritronix IPO listing price will be determined by real-time market demand on BSE SME on 8 June 2026. Past GMP does not guarantee listing gains.

What does Merritronix Limited do?

Ans. Merritronix Limited is an Electronics Systems Design and Manufacturing (ESDM) company incorporated in 1988 and headquartered in Hyderabad. It manufactures mission-critical electronic assemblies for defence, aerospace, telecom, and industrial sectors. Defence and aerospace accounted for 97.81% of its FY26 revenue.

What are Merritronix financials before IPO listing?

Ans. Merritronix revenue grew from Rs 85.70 crore in FY24 to Rs 155.59 crore in FY26 at a 34.7% CAGR. PAT expanded from Rs 3.05 crore in FY24 to Rs 16.10 crore in FY26. The company reported negative operating cash flows of Rs 23.38 crore in FY26, which is a key risk to monitor post Merritronix IPO listing.

Is Merritronix IPO listing a good investment?

Ans. This article does not constitute investment advice. The Merritronix IPO listing is backed by a profitable defence ESDM company with strong revenue growth, but carries risks including negative operating cash flows, high customer and geographic concentration, and SME platform liquidity constraints. Consult a SEBI-registered financial advisor before making any post-listing investment decision.

How to check Merritronix IPO allotment status?

Ans. Investors can check Merritronix IPO allotment status on the Bigshare Services Pvt. Ltd. registrar website using their PAN number, application number, or demat account client ID. Allotment for the Merritronix IPO was expected on 4 June 2026, with shares to be credited on 5 June 2026. The listing date is 8 June 2026 on BSE SME.

What is the Merritronix IPO issue size?

Ans. The Merritronix IPO issue size is Rs 70.03 crore, entirely a 100% fresh issue of 47,00,000 equity shares of face value Rs 10 each at the upper price band of Rs 149 per share. The company also raised Rs 19.91 crore from anchor investors ahead of the Merritronix IPO listing.