Matrix Geo Solutions Limited
Bookbuilding IPO · NSE
- Price band
- ₹98 - ₹104
- Lot size
- 1,200 shares
- Issue amount
- ₹40.2 cr
- Total subscription
- 0.58×
- Opens
- 23 Sept 2025
- Closes
- 25 Sept 2025
- Allotment
- 26 Sept 2025
- Listing
- 30 Sept 2025
Offer at a glance
Issue overview
- Issue size
- 38,65,200 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,17,600
- Fresh issue
- ₹40.2 cr
- Offer for sale
- ₹0 cr
- Registrar
- Maashitla Securities Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,24,800
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,07,16,632
- Shares after issue
- 1,45,81,832
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,400 | ₹2,49,600 |
| sHNI | 3 | 3,600 | ₹3,74,400 |
| bHNI | 9 | 10,800 | ₹11,23,200 |
Share reservation
Subscription & GMP
Subscription by category
Reported 24 Sept 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 5 |
| NIB | 0 | 562 |
| RETAIL | 533 | 2,099 |
| HNIs(10L +) | 102 | 313 |
| HNIs (2-10L) | 51 | 285 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 7.6 | 95.01 |
| FIIs | 0 | 39.74 |
| Others | 0 | 55.27 |
| RETAIL | 13.3 | 52.39 |
| HNIs 2+ | 1.91 | 10.94 |
| HNIs 10+ | 3.82 | 39.21 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 5.65 | 3.35 | 1.09 |
| ROE | 35.21 | 34.53 | 14.6 |
| ROCE | 33.69 | 35.53 | 15.79 |
| RONW | 35.21 | 34.53 | 14.6 |
| PRE IPO(PE) | 19.02 | 0 | 0 |
| POST IPO(PE) | 25.88 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Genesys International Corporation Limited | 38.63 | 613.85 | 5 | 156.02 | 10.77 | 15.89 |
| Matrix Geo Solutions Limited | NA | NA | 10 | 20.44 | 35.21 | 5.65 |
Company information
Company profile
Matrix Geo Solutions Limited, established in 2008, is a consultancy firm specializing in advanced survey technologies such as photogrammetry, LiDAR, GIS, and remote sensing through drones and satellite imagery. These services cater to sectors like railways, roads, irrigation, mining, and power. Over the years, the company has successfully executed more than 1,500 projects across 27 states in India, covering diverse terrains ranging from the Himalayas to urban landscapes. Notable projects include India’s first bullet train between Ahmedabad and Mumbai, the Pune-Mumbai Hyperloop, and innovative drone-based pipeline monitoring initiatives. Its clientele includes prominent government agencies, public sector organizations, and private companies such as Indian Railways, NHAI, NTPC, GAIL, L&T ECC, Adani Group, and Tata Projects. The company offers a wide range of services including photogrammetry (AT, DTM/DEM, 3D compilation, and orthophoto), LiDAR, GIS/RS, application development, topographical surveys, and engineering services. Expertise also extends to mining, water distribution planning, satellite and aerial surveys, feasibility studies, design, and flood analysis. The firm’s geospatial and GIS services support urban planning, land-use management, and disaster response through spatial data analysis and remote sensing. LiDAR technology is applied for high-resolution mapping, terrain modeling, and 3D visualization, which are vital for infrastructure development. Photogrammetry services include digital elevation models, terrain models, and orthoimage generation using drone, aerial, and satellite imagery. For engineering and infrastructure projects, Matrix Geo Solutions provides feasibility studies, topographical surveys, and planning for highways, railways, and smart cities. Its mining and natural resource management offerings include geological mapping, mineral exploration, and environmental impact assessments, while water resource studies cover distribution planning, watershed management, and flood risk analysis. The company also develops customized GIS-based software applications, incorporating AI and big data analytics to enhance decision-making. As of July 31, 2025, the company employed 100 permanent staff members.
Strengths
- Complete In-House Tech Solutions – Expertise in GIS, LiDAR, photogrammetry, and drone technology minimizes reliance on external vendors.
- Trusted Client Base – Long-term partnerships with marquee clients like Indian Railways, NHAI, Adani, and Tata Projects provide stability and growth.
- Skilled Leadership Team – Experienced and qualified management ensures successful execution of complex projects across varied terrains.
Risk factors
- Service Concentration Risk – Heavy dependence on geospatial and consultancy services; limited client base expansion could slow business growth.
- Regulatory Reliance – Drone training depends on DGCA licenses and strict regulations; non-compliance may disrupt operations.
- Seasonal Impact – Drone operations pause during monsoons; extended rainy seasons can lead to revenue loss.
Promoters
Mr. Rahul Jain
Mr. Amit Sharma
Ms. Meenal Jain
Ms. Harshada Kulkarni
Registrar & documents
Lead manager
Narnolia Financial Services Limited
Registrar & contacts
Maashitla Securities Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Plot No-A-1/87 Third Floor, Sewak Park Uttam Nagar West Delhi, New Delhi, 110059
+91 7531007100
[email protected]Company website ↗Understanding MGSL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.