Marushika Technology
CLOSEDIPO Date: 12 Feb - 16 Feb 2026
Listing Date: 19 Feb 2026
Price Range
Rs.111 - Rs.117
Issue Size
27 Cr
Min Investment
₹1,33,200
Lot Size
1200 Shares
Schedule of Marushika Technology
Issue open date
12 Feb 2026
Issue close date
16 Feb 2026
UPI mandate deadline
16 Feb 2026 (5 PM)
Allotment finalization
17 Feb 2026
Share credit
18 Feb 2026
Listing date
19 Feb 2026
Mandate end date
3 Mar 2026
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | 27 Cr |
| Fresh Issue | 26.97 Cr |
| Offer for Sale | 0 Cr |
Allotment DetailsNew
| Allotment Timeline | Details |
|---|---|
| Allotment Date | 17 Feb 2026 |
| Allotment Link | {Link} |
Grey Market PremiumNew
Grey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.
| Date | Ipo Price | GMP | Estimated Listing Price |
|---|---|---|---|
| 18 Feb 2026 | ₹117 | ₹2 | ₹119 (1.71%) |
| 15 Feb 2026 | ₹117 | ₹0 | ₹117 (0%) |
| 14 Feb 2026 | ₹117 | ₹0 | ₹117 (0%) |
| 13 Feb 2026 | ₹117 | ₹0 | ₹117 (0%) |
| 11 Feb 2026 | ₹117 | ₹0 | ₹117 (0%) |
| 10 Feb 2026 | ₹117 | ₹0 | ₹117 (0%) |
| 9 Feb 2026 | ₹117 | ₹0 | ₹117 (0%) |
| 8 Feb 2026 | ₹117 | ₹0 | ₹117 (0%) |
| 7 Feb 2026 | ₹117 | ₹0 | ₹117 (0%) |
| 6 Feb 2026 | ₹117 | ₹0 | ₹117 (0%) |
| 5 Feb 2026 | ₹117 | ₹0 | ₹117 (0%) |
| 4 Feb 2026 | ₹117 | ₹0 | ₹117 (0%) |
Performance Marushika Technology
| Issue Price | Listing Gain | Current Market Price | P/L |
|---|---|---|---|
| Rs.111 - Rs.117 | ₹ 250 (2.56%) | ₹ 94.2 | -19.49% |
About Marushika Technology
Marushika Technology Limited is engaged in the distribution of information technology and telecom infrastructure products and in providing related services. The company supplies IT and telecom infrastructure solutions for data centre infrastructure, active networking, telecom systems, surveillance systems, data protection, cybersecurity, and power management. Its services include installation, maintenance, and assistance in selecting IT infrastructure based on client requirements. Marushika Technology also offers smart solutions such as access control systems, parking solutions, lighting systems, and waste management solutions. In addition, the company has expanded into auto-tech solutions for the defence sector, providing maintenance, refurbishment, and reverse engineering services for tracked and wheeled military vehicles. The company operates primarily on a business-to-business and business-to-government model and provides products and services to government departments, public sector undertakings, and infrastructure projects across sectors such as defence, railways, finance, education, and health.
| Founded in | 2010 |
| Managing director | Ms. Monicca Agarwaal |
| Parent organization |
Financial Overview
Strengths
- Established operations since 2010 with experience in IT and telecom infrastructure.
- Diversified offerings across IT infrastructure, smart solutions, and defence auto-tech.
- Strong presence in government and PSU-led projects.
- Integrated service capability covering supply, installation, and maintenance.
- Long-standing relationships with leading OEM partners.
Risks
- High dependence on government and government-backed projects for revenue.
- Revenue concentration among a limited number of customers.
- Heavy reliance on OEMs for product supply and pricing stability.
- Geographic concentration with a major share of revenue from Delhi and Uttar Pradesh.
- Working capital–intensive business model impacting cash flows.
Subscription Figures
| Category | Subscription (No. of times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | 2.92 |
| Non-Institutional Investors (NIIs) | 30.52 |
| Retail Individual Investors (RIIs) | 16.33 |
| Employee | N/A |
| Total | 16.64 |