K2m
ANGEL ONE
(₹20/Trade)
Open Account
MOTILAL OSWAL
Open Account
Stock Market Institue
Trial Class
Book Now


IPOs, NCDs, OFS, Rights Issues, Buyback and Stock Brokers

IPO Open

Mon, Jun 1, 2026

IPO Close

Wed, May 3, 2026

Price Band

₹141 to ₹149

Market Cap (Pre-IPO)

₹260.52 Cr

IPO Details

  • IPO Date
    1 to 3 Jun, 2026
  • Listing Date
    Mon, May 25, 2026T
  • Face Value
    ₹10 per share
  • Price Band
    ₹141 to ₹149
  • Lot Size
    1,000 Shares
  • Sale Type
    Fresh capital only
  • Issue Type
    Bookbuilding IPO
  • Listing At
    BSE SME
  • Total Issue Size
    47,00,000 shares (agg. up to ₹70 Cr)
  • Reserved for Market Maker
    2,36,000 shares (agg. up to ₹4 Cr) Giriraj Stock Broking Pvt.Ltd.
  • Fresh Issue (Ex Market Maker)
    44,64,000 shares (agg. up to ₹67 Cr)
  • Net Offered to Public
    44,64,000 shares (agg. up to ₹67 Cr)
  • Share Holding Pre Issue
    1,27,84,854 shares
  • Share Holding Post Issue
    1,74,84,854 shares

IPO Timetable (Tentative)

  • IPO Open
    Mon, Jun 1, 2026
  • Allotment
    Thu, Jun 4, 2026
  • Credit of Shares
    Fri, Jun 5, 2026
  • IPO Close
    Wed, Jun 3, 2026
  • Refund
    Fri, Jun 5, 2026
  • Listing
    Mon, Jun 8, 2026

Issue Reservation

Merritronix IPO comprises a total issue size of 47,00,000 shares. The net offer to the public is 44,64,000 shares, after excluding 2,36,000 shares allotted on a firm basis. Of the Net offer 22,28,000 (49.91%) are allocated to QIB, 6,72,000 (15.05%) allocated to NII 15,64,000 (35.04%) allocated to RII.

Investor Category Shares Offered % of Net Issue % of Total Issue
QIB Shares Offered 22,28,000 49.91% 47.40%
  − Anchor Investor Shares Offered 13,36,000 28.43%
  − QIB (Ex. Anchor) Shares Offered 8,92,000 18.98%
NII (HNI) Shares Offered 6,72,000 15.05% 14.30%
  − bNII > ₹10L 4,48,000 9.53%
  − sNII < ₹10L 2,24,000 4.77%
Retail Shares Offered 15,64,000 35.04% 33.28%
Firm Reservations
Market Maker Shares Offered 2,36,000 5.02%
Total Shares Offered 47,00,000 100.00% 100.00%

IPO Lot Size

Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof.

Application Lots Shares Amount
Individual investors (Retail) (Min) 2 2,000 ₹2,98,000
Individual investors (Retail) (Max) 2 2,000 ₹2,98,000
S-HNI (Min) 3 3,000 ₹4,47,000
S-HNI (Max) 6 6,000 ₹8,94,000
B-HNI (Min) 7 7,000 ₹10,43,000

IPO Subscription Details

About Merritronix Ltd.

Incorporated in October 1988, Merritronix Limited is an Electronics Systems Design and Manufacturing (ESDM) company specializing in high-reliability, mission-critical electronic assemblies for defence, aerospace, telecom, and industrial electronics.

It offers B2B services, including component sourcing, PCB assembly, system integration, testing, box-building, and delivery of finished electronics. products, all to India’s defense and aerospace standards.

As of December 31, 2025, the company’s manufacturing facility has an installed capacity of 7,65,000 boards for SMT assembly, 6,00,000 boards for Through-Hole Technology (THT) assembly, and 4,20,000 units for product assembly/box build, aggregating to a total installed capacity of 17,85,000 production units per annum.

The Company received EN 9100:2018 certification for manufacturing PCBAs for aerospace and defence, equivalent to AS 9100D, JISQ 9100:2016, and includes ISO 9001:2015 standards.

The company’s clients include those in defence, aerospace, electrical engineering, heavy industries, power, and utilities.

As of March 31st, 2026, the company had 57 employees in various departments.

Competitive Strength

  • Three decades of Operating Legacy in Mission-Critical Defence and Aerospace Electronics.
  • Established Track Record in Mission-Critical Defence and Aerospace programs.
  • Strong Capabilities in Obsolescence Management and Lifecycle Extension.
  • Modern SMT Infrastructure and IPC-A-610 Class 3 Assembly Capability.
  • Strong Order Book providing revenue visibility.
  • Experienced Promoters and Senior Management

Company Financials (Restated)

Merritronix Ltd.’s revenue increased by 37% and profit after tax (PAT) rose by 86% between the financial year ending with March 31, 2026 and March 31, 2025.

Period Ended 31 Mar 2026 31 Mar 2025 31 Mar 2024
Assets 154.40 74.18 68.44
Total Income 156.25 114.04 86.01
Profit After Tax 16.10 8.66 3.05
EBITDA 27.22 15.18 6.73
NET Worth 52.52 16.23 7.58
Reserves and Surplus 40.34 15.39 6.73
Total Borrowing 43.20 18.57 15.82
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • # Issue Objects
    Est Amt (₹ Cr.)
  • 1 Capital expenditure towards purchase of Machinery and equipment
    21.36
  • 2 Funding working capital requirements
    21.95
  • 3 Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the Company
    12.72
  • 4 General corporate purposes
  • Total

Key Performance Indicator (KPI)

KPI Mar 31, 2026
ROE 46.03%
ROCE 45.26%
Debt/Equity 0.81
RoNW 30.66%
PAT Margin 10.33%
EBITDA Margin 17.42%
Price to Book Value 3.59
Check IPO Peer Comparison here.
Pre IPO Post IPO
EPS (₹) 12.60 9.21
P/E (x) 11.83 16.18
Promoter Holding 85.17%
Market Cap ₹260.52 Cr.
Dovari Yesudas, Dovari Amarnath, Vanaja D, Darsy Kethan Chandra and Dovari Thaman.
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.

IPO Registrar

Bigshare Services Pvt.Ltd.

IPO Lead Manager(s)

  1. GYR Capital Advisors Pvt.Ltd.  (Past IPO Performance)

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Merritronix Ltd. Address
C-22, Electronic Complex
Kushaiguda
Hyderabad, Telangana, 500062

IPO FAQs

Merritronix IPO is a SME IPO of 47,00,000 equity shares of the face value of ₹10 aggregating up to ₹70 Crores. The issue is priced at ₹141 to ₹149. The minimum order quantity is 1000.

The IPO opens on Mon, Jun 1, 2026, and closes on Wed, Jun 3, 2026.

Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Angel One customers can apply online in Merritronix IPO using UPI as a payment gateway. Angel One customers can apply in Merritronix IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Merritronix IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Merritronix IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Angel One IPO Application Process Review for more detail.

The Merritronix IPO opens on Mon, Jun 1, 2026 and closes on Wed, Jun 3, 2026.

Merritronix IPO lot size is 1000, and the minimum amount required for application is ₹2,98,000, with 2 lots being the minimum application size.

You can apply in Merritronix IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Merritronix IPO will be done on Thursday, June 4, 2026, and the allotted shares will be credited to your demat account by Fri, Jun 5, 2026. Check the Merritronix IPO allotment status.

The Merritronix IPO listing date is not yet announced. The tentative date of listing is Mon, Jun 8, 2026.

Stock Broker Reviews India

2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

2.34/5
Angel One Limited 2

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

2.34/5
Angel One Limited

Delivery: Rs 20 per executed order Account Opening: Rs 0 (Free)

Advertisments

Compare India's most trusted brokers side-by-side to find your perfect match.