A total of 36,00,000 equity shares are being offered, making the overall issue size ₹29 crore. The face value is ₹10 per share. The investors can bid from January 6, 2026. The subscription window stays open until January 8, 2026. Share allotment is likely to be finalised on January 9, 2026, with the listing scheduled for January 13, 2026, on the BSE SME.
Bids can only be placed in lots of 1,600 shares, priced between ₹76 and ₹81. For retail investors, the entry starts at 2 lots, requiring an investment of ₹2,59,200. The sNII category starts at 3 lots, requiring ₹3,88,800, while larger sNII applications begin from 8 lots with an outlay of ₹10,36,800.
Gabion Technologies India IPO Details
The key particulars of this IPO are presented in the table given below:
| Particulars | Details |
| Bidding Starts | January 6, 2026 |
| Bidding Ends | January 8, 2026 |
| IPO Lot Size | 1,600 Shares |
| Face value | ₹10 per share |
| Price Band | ₹76 to ₹81 |
| Issue price | |
| Issue Type | Bookbuilding |
| Fresh issue | 36,00,000 shares (₹29 Crore) |
| Offer for sale | |
| Total Issue Size | 36,00,000 shares (₹29 Crore) |
| Minimum Investment | ₹2,59,200 |
| Listing at | BSE SME |
Gabion Technologies India IPO Timeline
Below is an overview of the key dates that the IPO will follow:
| Particulars | Details |
| Bidding Starts | January 6, 2026 |
| Bidding Ends | January 8, 2026 |
| Expected Allotment | January 9, 2026 |
| Initiation of Refunds | January 12, 2026 |
| Demat Credit of Shares | January 12, 2026 |
| Scheduled Listing | January 13, 2026 |
| UPI mandate cut-off | – |
Gabion Technologies India Key Performance Indicator
The Gabion Technologies India’s key performance indicators (KPIs) are as follows:
| KPIs | FY 2023 | FY 2024 | FY 2025 |
| ROE (%) | |||
| ROCE (%) | 14.41 | 21.86 | 19.17 |
| Debt Equity (times) | 3.06 | 2.37 | 2.12 |
| RoNW (%) | 35.37 | 37.40 | 30.05 |
| PAT Margin (%) | 4.33 | 5.50 | 6.60 |
| EBITDA margin (%) | 8.10 | 12.54 | 14.89 |
| Price Book Value | – | – | 3.67 |
Gabion Technologies India Financials
Outlined below are the key financial figures of Gabion Technologies India:
| Particulars (in ₹ lakh) | 2023 (₹ Lakhs) | 2024 (₹ Lakhs) | 2025 (₹ Lakhs) |
| Revenue | 7,875.79 | 10,476.44 | 10,036.38 |
| Total Asset | 5,176.58 | 7,012.33 | 8,751.92 |
| Profit | 341.25 | 576.37 | 661.97 |
Subscription Status of Gabion Technologies India IPO
The subscription status of the Gabion Technologies India IPO is as follows:
| Day | NII | Individual Investor | Total |
| Day 1 | |||
| Day 2 | |||
| Day 3 |
Gabion Technologies India IPO Grey Market Premium Today
As of January 5, 2026, the IPO is attracting attention in the grey market with a GMP of ₹30. At this level, the shares could list near ₹111, suggesting a possible upside of about 37%. Overall interest appears to be picking up as the listing date approaches.
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 06-01-2026 | ₹30 | ₹111 | 37.04% |  |
| 05-01-2026 | ₹30 | ₹111 | 37.04% | |
| 04-01-2026 | ₹27 | ₹108 | 33.33% | Neutral |
| 03-01-2026 | ₹27 | ₹108 | 33.33% | |
Note: The GMP is derived from unofficial market trades and can fluctuate based on demand, subscription response, and overall market sentiment.
Gabion Technologies India IPO Reservation
The following table shows how the IPO shares are reserved for different investor groups:
| Investor Category | Reservation |
| Market Maker Shares Offered | 1,80,800 (5.02%) |
| QIB Shares | 17,05,600 (47.38%) |
| Retail Shares | 12,00,000 (33.33%) |
| NII (HNI) Shares | 5,13,600 (14.27%) |
| Total Shares | 36,00,000 (100.00%) |
Gabion Technologies India IPO Lot Size
Bids can be placed according to the specified lot sizes given below:
| Investor Type | Lots | Shares | Amount |
| Individual Investors – Retail (Minimum) | 2 | 3,200 | ₹2,59,200 |
| Individual Investors – Retail (Maximum) | 2 | 3,200 | ₹2,59,200 |
| S-HNI (Minimum) | 3 | 4,800 | ₹3,88,800 |
| S-HNI (Maximum) | 7 | 11,200 | ₹9,07,200 |
| B-HNI (Minimum) | 8 | 12,800 | ₹10,36,800 |
Gabion Technologies India IPO Anchor Investors Details
The details of anchor investors participating in this IPO are as follows:
| Particulars | Details |
| Bidding Starts | January 5, 2026 |
| Offered Shares | 10,22,400 shares |
| Portion Size | Up to 60% of the QIB Portion |
| Lock-in of 50% shares for 30 days | February 8, 2026 |
| Lock-in of the remaining shares for 90 days | April 9, 2026 |
Prospectus of the Gabion Technologies India IPO
These documents have additional information regarding this IPO:
| Draft Red Herring Prospectus (DRHP) | |
| Red Herring Prospectus (RHP) | |
| Anchor Investors | – |
| Final Prospectus | Not Disclosed |
About Gabion Technologies India
Gabion Technologies India Limited came into existence on February 18, 2008. The company is led by Mr. Madhusudan Sarda, who serves as Managing Director and is also part of the promoter group, along with Mrs. Urvashi Sarda, Ms. Priyanandini Sarda, and M/s ARS Merchants Private Limited. The company is involved in creating, supplying, and installing gabions, rockfall protection infrastructure, and geosynthetic solutions.
The company operates across three verticals covering manufacturing and supply, design and execution of geotechnical works, and trading of allied products. Its solutions are used in roads, railways, mining, energy, defence, and water resource projects. Operating in the geosynthetics and geotechnical construction segment, the company competes with SRM Contractors Limited while continuing to strengthen its execution capabilities and market presence.
| Issue Registrar | Kfin Technologies Ltd. |
| Lead Manager | GYR Capital Advisors Pvt.Ltd. |
Gabion Technologies India IPO Objectives
The raised capital will be allocated towards the following purposes:
| S. No. | Particulars | Amount (in ₹ lakh) |
| 1 | Working Capital Requirements | 2,211.00 |
| 2 | Purchase of Plant and Machinery | 105.67 |
| 3 | General Corporate Needs | – |
Strength Of Gabion Technologies India
These strengths highlight how the company has built execution depth and sustained its position in a demanding segment.
1. Experienced In-House Engineering Team
Core design and execution work is handled internally. This reduces reliance on external parties and helps manage complex geotechnical projects with tighter quality and compliance control.
2. Integrated Manufacturer–Contractor Model
The company manufactures what it installs. This alignment improves coordination, limits cost leakages, and brings clarity across planning and execution stages.
3. Wide Customer Base
Operations extend across regions and client categories. Such a spread reduces dependence on any single market and offers flexibility as infrastructure demand shifts.
4. Competitive Pricing Strength
Cost efficiency is shaped by how the operations are set up. Having production and procurement handled internally allows pricing to stay balanced without cutting back on specifications.
5. Technology and Innovation Focus
Innovation is applied where it works. New methods and product updates are adopted to meet real project needs, not for visibility.
Risk of Gabion Technologies India
The following factors may influence how the business performs and should be weighed alongside its strengths.
1. Single-Location Manufacturing Risk
Production is carried out from one manufacturing base in Himachal Pradesh. Any shift in local policies, environmental conditions, or operational stability in the region could interrupt output and affect fulfilment timelines.
2. Dependence on Key Suppliers
Raw materials are sourced from a small group of suppliers without long-term supply arrangements. Any disruption in availability or sharp movement in input prices may place pressure on costs and output planning.
3. Competitive Industry
The gabion manufacturing space allows relatively easy entry. This keeps competition active and can limit pricing flexibility while increasing the need to defend market share.
4. Manpower and Attrition Risk
Project execution depends on a stable workforce. Persistent attrition, labour shortages, or rising wage expectations could slow operations and raise expenses.
5. Dependence on Government Contracts
Close to 21 per cent of revenue comes from government-related projects. Since these contracts are awarded through competitive tenders, future order inflow remains uncertain.
Gabion Technologies India IPO Review
Gabion Technologies India IPO offers exposure to a niche geosynthetics and geotechnical engineering business with improving margins and an integrated manufacturer–contractor model. Rising GMP indicates positive near-term sentiment. At the same time, labour reliance, supplier concentration, and competitive pressure remain factors to watch. This issue is better suited to investors who can tolerate SME-level swings and hold patiently.
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Gabion Technologies India IPO FAQs
Gabion Technologies India IPO is a book-built SME issue worth ₹29 crore. The issue consists entirely of a fresh offer of 36,00,000 equity shares and will list on the BSE SME.
Investors can apply for the IPO through the ASBA or UPI route using their bank or trading application by selecting the issue, placing bids within the price band, and approving the mandate before the cut-off time.
Gabion Technologies India IPO may suit investors seeking SME exposure, but risks from competition, supplier reliance, and manpower dependency call for a cautious, long-term approach.
The Gabion Technologies India IPO is currently trading with a GMP of ₹30. At this price, the expected returns are 37.04%.
The IPO will open for subscription on January 6, 2026, and will close on January 8, 2026.
The lot size is 1,600 shares. Retail investors must apply for a minimum of 2 lots, or 3,200 shares, requiring an investment of ₹2,59,200 at the upper price band.
The allotment of shares for the IPO is expected to be finalised on Friday, January 9, 2026.
Gabion Technologies India IPO is tentatively scheduled to list on the BSE SME platform on January 13, 2026.
