Matrix Geo Solutions was incorporated on July 14, 2008. The company offers geospatial and consulting services with a focus on Drone-as-a-Service (DaaS) and remote sensing. Its solutions include aerial surveys, mapping, 3D models, topographical maps, and geo-referenced video for monitoring and inspection across industries
| Bidding Dates |
|---|
| 23 Sep 2025 - 25 Sep 2025 |
| Subscription |
|---|
| 7.17x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,35,200 | 2 | 2 | 1200 | 3.9 M | ₹98 - ₹104 | 67.26 % | ₹378.8 M - ₹402.0 M | RHP DOC |
Matrix Geo Solutions IPO SUBSCRIPTION STATUS
25 Sep '25Matrix Geo Solutions IPO overall subscription rate was 7.17 times the total available shares
Matrix Geo Solutions IPO retail subscription rate was 5.83 times in the retail segment
Matrix Geo Solutions IPO non-institutional investor subscription rate was 12.25 times in the non-institutional investor category
Matrix Geo Solutions IPO Qualified Institutional Bidder subscription rate was 6.59 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
25 Sep 2025 (Day 3) | 5.83x | 12.25x | 6.59x |
24 Sep 2025 (Day 2) | 1.38x | 1.03x | - |
23 Sep 2025 (Day 1) | 0.49x | 0.2x | - |
Matrix Geo Solutions FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 22.1 | 5.9 | 2.0 | 0.3 | 37.1% |
| FY24 | 13.7 | 3.3 | 2.0 | 1.6 | 35.7% |
| FY23 | 6.7 | 1.1 | 0.2 | -2.0 | 35.7% |
Matrix Geo Solutions IPO SUBSCRIPTION STATUS DETAILS
Matrix Geo Solutions had 3.9 M shares on offer
Matrix Geo Solutions IPO offer price was in the range ₹98 - ₹104
Matrix Geo Solutions IPO minimum Investment was ₹235200
Matrix Geo Solutions IPO issue size was ₹ 378.8 M - ₹ 402.0 M
Matrix Geo Solutions had a minimum lot size of 1200 Shares per application
Matrix Geo Solutions NUMBER OF SHARES ON OFFER
Matrix Geo Solutions IPO IMPORTANT DATES
| Issue Open Date | 23 Sep 2025 |
| Issue close Date | 25 Sep 2025 |
| Allotment Date | 26 Sep 2025 |
| Refund Date | 29 Sep 2025 |
| Demat Account Credit Date | 29 Sep 2025 |
| Listing Date | 30 Sep 2025 |
| Listing on Exchange(s) | NSE |
| Matrix Geo Solutions Allotment Status | Exchange/ Registrar |
Matrix Geo Solutions IPO subscription opened on 23 Sep 2025, and closed on 25 Sep 2025
IPO allotment for Matrix Geo Solutions was finalized on Friday, 26 Sep 2025
IPO listing for Matrix Geo Solutions was on NSE on Tuesday, 30 Sep 2025
Matrix Geo Solutions IPO LISTING GAINS
| Issue Price (adjusted) | 104.0 |
| Listing Open Price | 103.9 |
| Listing Close Price | 99.2 |
| Listing Gain% | -0.1% |
| Current Gain% | -27.2% |
Matrix Geo Solutions Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Matrix Geo Solutions Ltd. | 75.8 | 110.5 | 11 | 0.2 | 2.7 | 15.4 | 13 | 41.5 | 86.9 | 10.1 | 71.7 | 6.9 | 71.7 |
| Tata Consultancy Services Ltd. | 2452.7 | 887408.3 | 17.8 | 16.7 | 3.2 | 45.9 | 27 | 271423 | 4.7 | 49210 | 1.4 | 137.6 | 1.1 |
| Infosys Ltd. | 1175.1 | 476862.2 | 15.7 | 1.4 | 2.6 | 31.7 | 18.9 | 182972 | 9.8 | 29440 | 10.2 | 74.6 | 11.1 |
| HCL Technologies Ltd. | 1356.6 | 368135.8 | 21.1 | 8 | 2.7 | 22.1 | 14.3 | 131674 | 10.2 | 16642 | -4.3 | 64.2 | 2.6 |
| Wipro Ltd. | 187.5 | 185737.1 | 14.1 | -7.8 | 2 | 15 | 9.3 | 96497.7 | 3.8 | 13197.4 | 0.5 | 13.3 | -1.8 |
| Tech Mahindra Ltd. | 1635 | 160243.9 | 31.2 | 2.4 | 2.7 | 16.2 | 9.7 | 56847.3 | 5.6 | 4810.9 | 13.2 | 52.4 | 13.1 |
Matrix Geo Solutions INFORMATION ON IPO ISSUE
About Matrix Geo Solutions
Matrix Geo Solutions was incorporated on July 14, 2008. The company offers geospatial and consulting services with a focus on Drone-as-a-Service (DaaS) and remote sensing. Its solutions include aerial surveys, mapping, 3D models, topographical maps, and geo-referenced video for monitoring and inspection across industries
Object of the Issue
- To meet the expenses for the purchase of new drones
- To meet the expenses for the purchase of survey equipment and technologies
- To meet the capital expenditure requirements of the company
- To meet the working capital requirements of the company
- To meet the general corporate purposes
Matrix Geo Solutions - PROMOTERS
| Name |
|---|
| Rahul Jain |
| Amit Sharma |
| Meenal Jain |
| Harshada Kulkarni |
Matrix Geo Solutions - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Rahul Jain | Managing Director |
| Amit Sharma | Whole Time Director |
| Meenal Jain | Whole Time Director |
| Harshada Kulkarni | Whole Time Director |
| Atishay Jain | Independent Director |
| Dilip Kumar | Independent Director |
| Shashank Garg | Independent Director |
Matrix Geo Solutions Book Running Lead Manager
Narnolia Financial Services Limited
ipo@narnolia.com
Matrix Geo Solutions Registrar to the issue
Maashitla Securities Private Limited
investor.ipo@maashitla.com
Matrix Geo Solutions Strengths
In-house end-to-end technology solutions
The company provides end-to-end in-house technology solutions, from planning and design to execution and delivery. By leveraging its own equipment, technologies, and skilled team, it ensures customer satisfaction while keeping operational costs low
Client relationship
The company has built long-standing customer relationships through its focus on quality and timely service. Over time, it has enhanced offerings by adopting new technologies and efficiently utilizing resources to meet customer needs
Matrix Geo Solutions Risks
Operational risks
The company’s drones are non-operational during the monsoon season due to safety risks and potential equipment damage from moisture. Extended rains may therefore impact revenue, as drones are vulnerable to water-related malfunctions affecting motors, batteries, and sensors
Adoption risks
The company’s drone-based geospatial operations depend on continuous upgrades in technology and equipment. Failure to adopt evolving innovations in drones, sensors, and data analytics could reduce efficiency, increase costs, and weaken market competitiveness
Capital intensive
The company’s operations are working capital intensive, requiring substantial funds for day-to-day activities and growth. Any inability to secure adequate working capital may hinder customer demand fulfillment, increase costs, and adversely impact business performance
IPO FAQs
The promoters of the company are Rahul Jain, Amit Sharma, Meenal Jain and Harshada Kulkarni.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 98.0 - 104.0.
The IPO application opens on Sep 23, 2025 and closes on Sep 25, 2025.
The minimum lot size for the IPO is 2400. The maximum lot size for the IPO is 2400.
For all category investors, the minimum application amount for this IPO is Rs. 235,200.0, the maximum value for this IPO is Rs 249,600.0.
This IPO will be allotted on Sep 26, 2025.
The refund will be credited to your account on Sep 29, 2025.
The allotted shares will be credited to your demat on Sep 29, 2025.
Matrix Geo Solutions Ltd.’s shares listed on the stock exchanges on Sep 30, 2025.