Merritronix Sets June for First-Ever Initial Public Offering
Merritronix Limited
IPOMerritronix Set to Become First IPO of June, Opens for Subscription on June 1
Merritronix, a Telangana-based electronics systems design and manufacturing services company, is all set to become the first IPO of June. The company has opened its subscription for the initial public offering (IPO) on June 1.
As part of the IPO, Merritronix aims to raise Rs 70.03 crore through an initial public offering of 47 lakh shares. The issue is an entirely fresh issue, with no offer-for-sale (OFS) component. The price band for the public issue has been fixed at Rs 141-149 per share, valuing the company at Rs 260.5 crore.
The IPO anchor book will open on May 29, while the public issue will remain open until June 3. The IPO share allotment will be finalised by June 4, while the trading in Merritronix shares will commence on the BSE SME on June 8.
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Merritronix, which is engaged in business-to-business electronic manufacturing services, including component sourcing, printed circuit board (PCB) assembly, system integration, testing, box-build solutions, and delivery of finished electronic products used in aerospace and defence applications, plans to utilise Rs 21.36 crore for the purchase of machinery and equipment and Rs 21.95 crore for working capital requirements.
Further, Rs 12.7 crore will be used for repayment of borrowings, while the remaining funds will be allocated for general corporate purposes.
Merritronix, which competes with listed peers such as Centum Electronics and Vinyas Innovative Technologies, reported a profit of Rs 16.1 crore for fiscal 2026, marking an 86 percent increase from Rs 8.7 crore in the previous year. Revenue rose 37.3 percent to Rs 155.9 crore from Rs 113.6 crore during the same period.
GYR Capital Advisors has been appointed as the sole book-running lead manager for the Merritronix IPO.
Read also: Zepto Nears $1 Billion Quarterly Net Order Value Milestone Before IPO
IPO Timeline Comparison
| IPO Period | Merritronix IPO |
|---|---|
| IPO Anchor Book Opening | May 29 |
| IPO Subscription Closing | June 3 |
| IPO Share Allotment Finalization | June 4 |
| Trading Commencement | June 8 |
Investor Takeaway
Merritronix is set to become the first IPO of June, opening for subscription on June 1.
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