Marushika Technology was incorporated on July 03, 2010. The company distributes IT and telecom infrastructure products, delivers data centre, networking, cybersecurity and smart solutions, and has expanded into auto-tech services for defence under B2B and B2G models
| Bidding Dates |
|---|
| 12 Feb 2026 - 16 Feb 2026 |
| Subscription |
|---|
| 16.74x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,66,400 | 2 | 2 | 1200 | 2.3 M | ₹111 - ₹117 | 58.19 % | ₹255.9 M - ₹269.7 M | RHP DOC |
Marushika Technology IPO SUBSCRIPTION STATUS
16 Feb '26Marushika Technology IPO overall subscription rate was 16.74 times the total available shares
Marushika Technology IPO retail subscription rate was 21.98 times in the retail segment
Marushika Technology IPO non-institutional investor subscription rate was 55.21 times in the non-institutional investor category
Marushika Technology IPO Qualified Institutional Bidder subscription rate was 1.54 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
16 Feb 2026 (Day 3) | 21.98x | 55.21x | 1.54x |
13 Feb 2026 (Day 2) | 1.49x | 1.73x | - |
12 Feb 2026 (Day 1) | 0.66x | 0.13x | - |
Marushika Technology 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 | 85.2 | 6.3 | 1.0 | -1.1 | 12.8% |
| FY24 | 60.7 | 3.1 | -6.4 | -6.9 | 10.0% |
Marushika Technology IPO SUBSCRIPTION STATUS DETAILS
Marushika Technology had 2.3 M shares on offer
Marushika Technology IPO offer price was in the range ₹111 - ₹117
Marushika Technology IPO minimum Investment was ₹266400
Marushika Technology IPO issue size was ₹ 255.9 M - ₹ 269.7 M
Marushika Technology had a minimum lot size of 1200 Shares per application
Marushika Technology NUMBER OF SHARES ON OFFER
Marushika Technology IPO IMPORTANT DATES
| Issue Open Date | 12 Feb 2026 |
| Issue close Date | 16 Feb 2026 |
| Allotment Date | 17 Feb 2026 |
| Refund Date | 18 Feb 2026 |
| Demat Account Credit Date | 18 Feb 2026 |
| Listing Date | 19 Feb 2026 |
| Listing on Exchange(s) | NSE |
| Marushika Technology Allotment Status | Exchange/ Registrar |
Marushika Technology IPO subscription opened on 12 Feb 2026, and closed on 16 Feb 2026
IPO allotment for Marushika Technology was finalized on Tuesday, 17 Feb 2026
IPO listing for Marushika Technology was on NSE on Thursday, 19 Feb 2026
Marushika Technology IPO LISTING GAINS
| Issue Price (adjusted) | 117.0 |
| Listing Open Price | 120.0 |
| Listing Close Price | 114.0 |
| Listing Gain% | 2.6% |
| Current Gain% | -12.0% |
Marushika Technology 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Marushika Technology Ltd. | 103 | 87.9 | 9.8 | 0.2 | 0.8 | 18.9 | 10.3 | 116.5 | 36.1 | 9 | 42.4 | 10.5 | 42.4 |
| 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 |
Marushika Technology INFORMATION ON IPO ISSUE
About Marushika Technology
Marushika Technology was incorporated on July 03, 2010. The company distributes IT and telecom infrastructure products, delivers data centre, networking, cybersecurity and smart solutions, and has expanded into auto-tech services for defence under B2B and B2G models
Object of the Issue
- Repayment and/ or pre-payment, in part or full, of certain borrowings availed by the company
- Funding the working capital requirements of the company
- General corporate purposes
Marushika Technology - PROMOTERS
| Name |
|---|
| Monicca Agarwaal |
| Jai Prakash Pandey |
| Sonika Aggarwal |
Marushika Technology - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Monicca Agarwaal | Managing Director |
| Jai Prakash Pandey | Whole-time Director |
| Sonika Aggarwal | Executive Director |
| Sandeep Jain | Independent Director |
| Sanjay Jindal | Independent Director |
| Shishir Jha | Independent Director |
Marushika Technology Book Running Lead Manager
Nexgen Financial Solution Private Limited
ipo@nexgenfin.com
Marushika Technology Registrar to the issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
Marushika Technology Strengths
Diverse solutions
The company offers a wide range of IT, telecom infrastructure, smart solutions, and defence auto-tech services. Its portfolio includes data center infrastructure, surveillance systems, servers, display solutions, power systems, and communication tools
Strong OEM ties
The company maintains strong relationships with leading Original Equipment Manufacturers and their authorized distributors. These partnerships allow it to act as an authorized reseller of advanced IT and smart technology products
Multi-industry presence
The company serves clients across banking, finance, insurance, railways, defence, and healthcare. Long-standing customer relationships provide stable business and reduce reliance on any single sector. This broad industry reach also supports growth into new opportunities and strengthens its market position
Marushika Technology Risks
Government dependence
The company derives a large portion of its revenue from government projects, public sector undertakings, and entities linked to government tenders. Any policy changes, budget cuts, project delays, terminations, or renegotiations by government authorities could reduce order flow and negatively impact business performance and financial results
Single vertical risk
Most of the company’s revenue comes from the IT and Telecom Infrastructure segment. A decline in demand due to changing customer needs or technological shifts could significantly affect revenue and profitability, as heavy reliance on one business vertical increases earnings volatility
Regional concentration
A major share of the company’s revenue is generated from Delhi and Uttar Pradesh. Any economic, regulatory, or operational disruptions in these states could adversely affect revenue and overall business performance
IPO FAQs
The promoters of the company are Monicca Agarwaal, Jai Prakash Pandey and Sonika Aggarwal.
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 111.0 - 117.0.
The IPO application opens on Feb 12, 2026 and closes on Feb 16, 2026.
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. 266,400.0, the maximum value for this IPO is Rs 280,800.0.
This IPO will be allotted on Feb 17, 2026.
The refund will be credited to your account on Feb 18, 2026.
The allotted shares will be credited to your demat on Feb 18, 2026.
Marushika Technology Ltd.’s shares listed on the stock exchanges on Feb 19, 2026.