Merritronix IPO SME/book-built issue worth ₹70.03 crore. The Merritronix IPO consists fully of a fresh issue of up to 47,00,000 equity shares, at a face value of ₹10/share.
The Merritronix IPO bidding starts on 1 June 2026. The bidding closes on 3 June 2026. The allotment is to be finalised on 4 June 2026, with the tentative listing date on the BSE SME platform scheduled for 8 June 2026.
Merritronix Ltd has decided that the price of the Merritronix IPO will be between ₹141/share and ₹149/share. The investors are required to apply in lots of 1,000. The minimum application size for retail investors is 2 lots or 2,000 shares, taking the required investment amount to ₹2,98,000 at the upper price band.
For HNI investors, the minimum application size is 3 lots or 3,000 shares, amounting to ₹4,47,000.
Details of the Merritronix IPO
Below is an overview of the Merritronix IPO and the important figures of the issue:
| IPO Open | 1 June 2026 |
| IPO Close | 3 June 2026 |
| Face value | ₹10 |
| Price Band | ₹141/share to ₹149/share |
| Issue price | – |
| IPO Lot Size | 1,000 shares |
| Offer-for-sale | – |
| Fresh issue | 47,00,000 equity shares (₹70.03 crore) |
| Issue Type | SME/Book-built IPO |
| Listing | BSE SME |
| Total Issue Size (₹ Crore) | ₹70.03 crore (47,00,000 equity shares) |
| Minimum Investment (Retail) | ₹2,98,000 (2 lots) |
Timeline of the Merritronix IPO
The following timeline highlights the key events of the Merritronix IPO process, from issue opening to stock market listing:
| Bid Open Date | 1 June 2026 |
| Bid Close Date | 3 June 2026 |
| Allotment | 4 June 2026 |
| Refunds Initiated | 5 June 2026 |
| Share Credit Date | 5 June 2026 |
| Listing | 8 June 2026 |
| UPI mandate Cut-off time | 3 June 2026 (05:00 PM) |
Merritronix Limited Financial Highlights
Below is an overview of the major financial ratios and key indicators of Merrtronix Ltd, reflecting its financial health and business efficiency.
| KPIs | 2026 | 2025 | 2024 |
| ROE (%) | 46.03 | 69.21 | 45.82 |
| ROCE (%) | 45.26 | 66.21 | 43.13 |
| Debt-Equity Ratio (in times) | 0.81 | 1.1 | 1.93 |
| RoNW (%) | 30.66 | 53.34 | 40.27 |
| PAT Margin (%) | 10.33 | 7.63 | 3.56 |
| EBITDA Margin (%) | 17.42 | 13.31 | 7.82 |
| Price-Book Value | 3.59 | – | – |
Merritronix Ltd–Financial Information
| 2026 | 2025 | 2024 | |
| Revenue | 15,589.56 | 11,356.38 | 8,569.91 |
| Assets | 15,440.07 | 7,418.05 | 6,844.31 |
| Profit After Tax | 1,610.30 | 865.95 | 305.03 |
(Amount in ₹ lakh)
Merritronix IPO–Subscription Status
Subscription Data Unavailable!
The live subscription figures will be updated once the IPO bidding process begins during the subscription period.
Note: Applications can be placed between 10:00 AM and 5:00 PM on all bidding days.
Merritronix IPO–Grey Premium Market (GMP)
The GMP trend for Merritronix SME IPO is at an early stage, and it is too soon to identify a clear GMP trend.
Follow along for regular updates on Merritronix SME IPO GMP movement and the estimated listing price.
| GMP Date | GMP | Est. Listing Price | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 22-05-2026 | ₹85 ▲ | ₹234 (57.05%) | ₹85,000 | 22-May-2026 19:35 |
| 21-05-2026 | ₹78 ▲ | ₹227 (52.35%) | ₹78,000 | 21-May-2026 23:30 |
| 20-05-2026 | ₹45 ─ | ₹194 (30.20%) | ₹45,000 | 20-May-2026 23:34 |
Note: The GMP is an unofficial market indicator and may move higher or lower depending on subscription demand, market trends, and investor sentiment.
Merritronix IPO–Reservation
The following table highlights the category-wise distribution of shares in the IPO.
| Investor Category | Shares Offered | % of Shares Offered |
| Market Maker | 2,36,000 | 5.02% |
| QIBs | 8,92,000 | 18.98% |
| Anchor Investors | 13,36,000 | 28.43% |
| NIIs | 6,72,000 | 14.30% |
| Individual Investor | 15,64,000 | 33.28% |
| Total | 47,00,000 | 100% |
Merritronix IPO–Lot Size
Below are the category-wise application details and minimum investment amounts required for the IPO.
| Application | Lot Size | Shares | Amount |
| Individual Investors Minimum Application | 2 | 2,000 | ₹2,98,000 |
| Individual Investors Maximum Application | 2 | 2,000 | ₹2,98,000 |
| S-HNI Minimum Application | 3 | 3,000 | ₹4,47,000 |
| S-HNI Maximum Application | 6 | 6,000 | ₹8,94,000 |
| B-HNI Minimum Application | 7 | 7,000 | ₹10,43,000 |
Merritronix IPO–Anchor Investors Details
The table below outlines the anchor investor allocation and subscription details for the Merritronix IPO:
| Bidding Opens On | 29 May 2026 |
| Shares offered | 13,36,000 Equity Shares |
Merritronix IPO–Prospectus
Below are the official offer documents submitted by Merritronix Ltd for detailed IPO information and investor reference.
About Merritronix Limited
Incorporated on 14 October 1988, Merritronix Limited is an Electronics Systems Design and Manufacturing (ESDM) company focused on high-reliability electronic assemblies for defence, aerospace, telecommunications, and industrial applications. The company is led by Managing Director Mr Dovari Amarnath.
Its business operations include:
- PCB assembly and system integration
- Surface-Mount Technology (SMT) manufacturing
- Box-build solutions and turnkey manufacturing
- Obsolescence management and component sourcing
Merritronix serves sectors such as defence, aerospace, power, and engineering, with clients including Apollo Micro Systems Limited and Sigma Advanced Systems Limited.
| Name | |
| Book Running Lead Managers (BRLM) | GYR Capital Advisors Private Ltd |
| IPO Registrar | Bigshare Services Private Ltd |
Objectives of Merritronix
The net funds raised through the IPO are proposed to be deployed towards the following key purposes:
| Details | Amount (in ₹ lakhs) |
| Purchase of Machinery and equipment | 2,136.43 |
| Working capital requirements | 2,195.21 |
| Payment of outstanding borrowings | 1,271.92 |
| Corporate requirements | – |
Merritronix Limited–Strengths
- Three decades of experience in defence electronics: The company has built specialised expertise in high-reliability electronic manufacturing for defence, aerospace, and industrial applications over three decades.
- Proven execution in mission-critical programmes: The company has delivered advanced electronic assemblies for missile systems, airborne radars, and defence aircraft applications successfully.
- Expertise in obsolescence management: The company provides reverse engineering and lifecycle extension solutions for legacy defence and aerospace electronic systems and platforms.
- Advanced SMT manufacturing infrastructure: The company operates modern SMT lines with IPC-A-610 Class 3 standards for precision-driven aerospace and defence electronics manufacturing.
Merritronix Limited–Risks
- Limited brand recognition in the B2B segment: The limited consumer-facing presence of the company may affect pricing flexibility, customer diversification, and long-term business expansion opportunities.
- Dependence on winning new contracts: The failure to secure future project bids and contracts could negatively affect revenue growth and overall business performance.
- Lack of long-term customer commitments: The changes or cancellations in customer production requirements may impact cash flows, operational planning, and financial stability.
- Strict compliance and quality standards: Any lapse in quality control or audit compliance could result in order cancellations and reputational damage.
Merritronix IPO–Review
Merritronix Ltd operates in the specialised defence and aerospace electronics manufacturing segment with strong technical capabilities and improving financial performance.
The company has reported healthy growth in revenue, profitability, ROE, and EBITDA margins over the last three financial years. Its focus on mission-critical electronics, advanced SMT infrastructure, and defence-oriented business operations adds strength to its business profile.
However, the IPO comes with a relatively high minimum investment requirement, while long-term performance may depend on order inflows and execution capabilities.
Other Recent IPO List
Also, check other live, upcoming, and recently listed IPOs in India for 2026, provided below:
| M R Maniveni Foods IPO | NFP Sampoorna Foods IPO |
| Harikanta Overseas IPO | Goldline Pharmaceutical IPO |
| Vegorama Punjabi Angithi IPO | RFBL FLexi Pack IPO |
| Teamtech Formwork Solutions IPO | Simca Advertising IPO |
Merritronix IPO FAQs
Merritronix IPO is an SME book-built public issue worth ₹70.03 crore. The IPO consists entirely of a fresh issue of 47,00,000 equity shares and will be listed on the BSE SME platform.
You can apply for the Merritronix IPO through ASBA-supported bank accounts or online trading platforms offering IPO application facilities. Applications can also be submitted using the UPI-based IPO process before the cut-off time.
The Merritronix IPO is positioned around the growing financial performance and defence electronics manufacturing capabilities. However, investors should evaluate valuation, business risks, industry outlook, and their own investment objectives before applying.
As of 20 May 2026, the GMP for the Merritronix IPO stands at ₹0, indicating no estimated listing gain currently. The returns are mostly dependent on the changing subscription demand, market sentiment, and overall IPO activity.
The Merritronix IPO will open for subscription on 1 June 2026. Investors can place bids during the three-day subscription period ending on 3 June 2026.
The Merritronix IPO lot size is 1,000 shares. The retail investors need to apply for a minimum of 2 lots or 2,000 shares.
The Merritronix IPO is expected to be finalised on 4 June 2026, subject to the completion of the IPO subscription process.
The tentative listing date of the Merritronix IPO is 8 June 2026. The shares are proposed to be listed on the BSE SME platform.
