Merritronix SME IPO
ListedBSE SMEOpens 1 June 2026Closes 3 June 2026
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…
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.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
1 Jun
IPO Closes
3 Jun
Allotment
4 Jun
Listing
8 Jun
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 1 June 2026 |
| IPO Close Date | 3 June 2026 |
| Allotment Date | 4 June 2026 |
| Listing Date | 8 June 2026 |
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.
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 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0x | 3.09x | 224.91x |
| NII | 21.63x | 107.11x | 476.59x |
| S-HNI | 18.05x | 77.33x | 303.12x |
| B-HNI | 49.49x | 122x | 563.33x |
| RII | 22.62x | 89.25x | 297.67x |
| Total | 15.96x | 68.52x | 315.36x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 8,92,000 | 20,06,16,000 | 2,989.18 |
| NII | 6,72,000 | 32,02,71,000 | 4,772.04 |
| Small NII | 2,24,000 | 6,78,99,000 | 1,011.7 |
| Big NII | 4,48,000 | 25,23,72,000 | 3,760.34 |
| RII | 15,64,000 | 46,55,58,000 | 6,936.81 |
| Total | 31,28,000 | 98,64,45,000 | 14,698.03 |
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
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Merritronix SME IPO News & Updates
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Sources
We match Merritronix SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- Bigshare Services Pvt.Ltd.Official site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, and How allotment chances work.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.