Merritronix Limited
Bookbuilding IPO · BSE
- Price band
- ₹141 - ₹149
- Lot size
- 1,000 shares
- Issue amount
- ₹70.03 cr
- Total subscription
- 315.44×
- Opens
- 1 Jun 2026
- Closes
- 3 Jun 2026
- Allotment
- 4 Jun 2026
- Listing
- 8 Jun 2026
Offer at a glance
Issue overview
- Issue size
- 47,00,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,41,000
- Fresh issue
- ₹70.03 cr
- Offer for sale
- ₹0 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,49,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,27,84,854
- Shares after issue
- 1,74,84,854
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,000 | ₹2,98,000 |
| sHNI | 3 | 3,000 | ₹4,47,000 |
| bHNI | 7 | 7,000 | ₹10,43,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 3 Jun 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 170 |
| NIB | 0 | 54,557 |
| RETAIL | 782 | 2,32,779 |
| EMPLOYEES | 0 | 0 |
| HNIs(10L +) | 149 | 33,399 |
| HNIs (2-10L) | 75 | 21,158 |
| Shareholder | 0 | 0 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 13.29 | 2,989.18 |
| FIIs | 0 | 566.59 |
| Mutual Funds | 0 | 25.99 |
| Others | 0 | 1,957.71 |
| RETAIL | 23.3 | 6,936.81 |
| HNIs 2+ | 3.34 | 1,011.7 |
| HNIs 10+ | 6.68 | 3,763.86 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 13.92 | 7.95 | 2.8 |
| ROE | 46.03 | 69.21 | 45.82 |
| ROCE | 45.26 | 66.21 | 43.13 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 11.83 | 0 | 0 |
| POST IPO(PE) | 16.18 | 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) (₹) |
|---|---|---|---|---|---|---|
| Centum Electronics Limited | 0 | 3026.35 | 10.00 | 233.36 | -15.09 | 0 |
| Vinyas Innovative Technologies Limited | 62.85 | 969.80 | 10.00 | 116.77 | 13.22 | 15.43 |
| Merritronix Limited | 11.83 | 149.00 | 10.00 | 41.56 | 30.66 | 13.92 |
Company information
Company profile
Incorporated in October 1988, Merritronix Limited is an Electronics Systems Design and Manufacturing (ESDM) company focused on producing high-reliability, mission-critical electronic assemblies for sectors such as defence, aerospace, telecom, and industrial electronics. The company operates on a B2B model, offering end-to-end services including component sourcing, PCB assembly (SMT and THT), system integration, testing, and box-build solutions, all aligned with stringent defence and aerospace standards in India. As of December 31, 2025, it has an installed capacity of 7,65,000 SMT boards, 6,00,000 THT boards, and 4,20,000 units for product assembly, totaling 17,85,000 units annually. The company is certified under EN 9100:2018 (equivalent to AS 9100D and JISQ 9100:2016) along with ISO 9001:2015, ensuring high-quality manufacturing standards. It serves clients across defence, aerospace, heavy industries, power, and utilities, and as of January 31, 2026, had 56 employees across departments.
Strengths
- Strong Defence & Aerospace Presence: Over three decades of experience in manufacturing mission-critical electronic systems for defence, aerospace, power, and industrial sectors.
- Proven Project Execution: Strong track record in delivering complex defence projects and advanced electronic systems.
- Expertise in Obsolescence Management: Capabilities in reverse engineering, component replacement, and lifecycle extension help support legacy systems.
Risk factors
- Limited Brand Recognition Risk: Operating mainly as a B2B ESDM service provider without a consumer-facing brand may limit pricing power and expansion opportunities.
- Operational & Quality Control Risk: Any failure in quality standards or manufacturing processes may affect product reliability and customer confidence.
- Customer Concentration Risk: Dependence on specialised defence and industrial customers may impact revenue if orders decline or projects are delayed.
Promoters
Dovari Yesudas
Dovari Amarnath
Vanaja D
Darsy Kethan Chandra
Dovari Thaman
Registrar & documents
Lead manager
GYR Capital Advisors Private Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
C-22, Electronic Complex Kushaiguda Hyderabad, Telangana, 500062
+91 8297912056
[email protected]Company website ↗Understanding MRTX 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.