Marushika Technology Limited IPO
Marushika Technology Limited IPO
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Marushika Technology Limited's successfully transitioned to public market status with its listing on NSE on 19-02-2026. The IPO mobilized 23,05,200 Shares in cumulative capital, including 23,05,200 Shares for corporate expansion.
The public offering was conducted within the price parameters of ₹111 to ₹117, with minimum investment lots of 1200 shares. subscription activity between 12-02-2026 and 16-02-2026 demonstrated market reception to the company's valuation and growth narrative.
The allotment process concluded on 17-02-2026, finalizing share distribution to successful bidders. The listing represents a transformational event, providing the company with enhanced market visibility, regulatory compliance framework, and access to diversified investor capital.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Marushika Technology IPO About Company
Marushika Technology Limited is engaged in the distribution of IT and telecom infrastructure products, offering end-to-end solutions including data centers, networking, telecom systems, surveillance, cybersecurity, power management, and smart solutions such as access control, parking, lighting, and waste management, along with installation and maintenance services. The company operates across IT & telecom infrastructure, auto-tech solutions for defence, and smart infrastructure verticals, and primarily follows a B2B and B2G model, serving government and PSU clients such as BEL, CEL, DMRC, and NSG. It has completed over 150 projects to date, and as of July 31, 2025, had an ongoing project order book of ₹2,835.42 lakh.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Marushika Technology IPO Strength Factors
- Strong OEM Relationships: Authorized reseller ties with leading OEMs enable delivery of advanced and secure IT solutions.
- Experienced Management Team: Promoters with decades of experience in IT, telecom infrastructure, and finance ensure strong execution.
- Diversified Solution Portfolio: Offers a wide range of IT, smart, and defence technology solutions across industries.
Marushika Technology IPO Risk Factors
- Dependence on Government Projects: Heavy reliance on government and PSU tenders makes revenue sensitive to policy changes.
- Customer Concentration Risk: Dependence on a few key clients may lead to revenue volatility.
- Order Book Uncertainty: Orders may be delayed, modified, or cancelled, affecting revenue visibility.
Marushika Technology IPO Lead Manager(s)
- NEXGEN Financial Solutions Private Limited
Marushika Technology IPO Promoter(s)
- Ms. Monicca Agarwaal
- Mr. Jai Prakash Pandey
- Ms. Sonika Aggarwal
Marushika Technology IPO FAQs
Marushika Technology Limited IPO subscribed 18.01 times. The public issue subscribed 16.51 times in the retail category,2.92times in QIB, and 51.22 times in the HNI (10+) category byFebruary 19, 2026 4:15:01 AM (Day 19).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Marushika Technology IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Marushika Technology IPO FAQs
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The basis of allotment for Marushika Technology Limited IPO is available now.
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A category of eligible shareholders or other investors who have a reserved quota in the IPO.
If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on or send an email with all relevant details to .
