Marushika Technology Limited is entering the public markets through SME IPO with an issue size of ₹26.97 crore. The issue consists of a fresh issue of equity shares. The shares are proposed to be listed on NSE & SME.
The IPO subscription window opens on February 12, 2026 and will remain open until February 16, 2026. The company plans to list its shares on February 19, 2026. Being an SME IPO, the issue may appeal to investors familiar with lower liquidity listings.
Marushika Technology Limited IPO Timeline
IPO Quick Facts
This section covers the main IPO details of Marushika Technology Limited that investors generally review before applying.
IPO Details at a Glance
| Company Name | Marushika Technology Limited |
|---|---|
| IPO Segment | SME |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Price | ₹111 – ₹117 Per Share |
| Lot Size | 1,200 Shares |
| Face Value | ₹10 Per Share |
| Exchange | NSE & SME |
IPO Documents
| DRHP |
|---|
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Marushika Technology Limited IPO Important Dates
The following table highlights the key dates for the Marushika Technology Limited IPO, covering the subscription period and the expected listing timeline.
| IPO Opening Date | 12 Feb 2026 |
|---|---|
| IPO Closing Date | 16 Feb 2026 |
| Allotment Finalization | 17 Feb 2026 |
| Initiation of Refunds | 18 Feb 2026 |
| Credit of Shares | 18 Feb 2026 |
| IPO Listing Date | 19 Feb 2026 |
Marushika Technology Limited IPO Size & Structure
| Total IPO Size | ₹26.97 Crore |
|---|---|
| Fresh Issue | ₹26.97 Crore |
Marushika Technology IPO Lot Size & Minimum Investment
The table below shows the lot size and investment amount for the Marushika Technology IPO, calculated using the cut-off price. The price band for this IPO ranges from ₹111 to ₹117 per share.
Investors can apply for the IPO with a minimum of 1200 shares. Applications must be made in multiples of 1200 shares.
- Retail investors can apply from 2 lot to 2 lots.
- Small HNI (SHNI) investors must apply for at least 3 lots.
- Big HNI (BHNI) investors need to apply for a minimum of 8 lots.
This information helps investors understand the minimum investment required before applying for the IPO.
Note: Retail investors generally apply at the cut-off price, which is ₹117 per share.
| Category | Lots | Shares | Price | Amount |
|---|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹117 | ₹280,800 |
| Retail (Max) | 2 | 2,400 | ₹117 | ₹280,800 |
| S-HNI (Min) | 3 | 3,600 | ₹117 | ₹421,200 |
| S-HNI (Max) | 7 | 8,400 | ₹117 | ₹982,800 |
| B-HNI | 8 | 9,600 | ₹117 | ₹1,123,200 |
Marushika Technology Limited IPO GMP (Grey Market Premium)
The latest Marushika Technology Limited IPO GMP (Grey Market Premium), along with Kostak rates and Subject to Sauda rates, helps in understanding market sentiment. The current Marushika Technology Limited IPO GMP is ₹2 (1.71%), compared to the IPO issue price of ₹117. Based on the current GMP, the expected listing price is around ₹119. The Lowest GMP was ₹0 on 16 Feb 2026, while the highest GMP reached ₹2 on 19 Feb 2026.
Marushika Technology Limited IPO was listed on the stock exchange on 19 Feb 2026. The IPO was subscribed 16.49 times. The first reported GMP was ₹0 (0%), while the latest recorded GMP stood at ₹2 (1.71%).Listing Details:
- Issue Price: ₹117 per share.
- Listing Price: ₹120.00 (approx. 2.56% gain)
- Listing Date: 19 Feb 2026
Marushika Technology Limited IPO GMP Today - Trend Analysis
| Date | Issue Price (₹) | GMP Price (₹) | Estimated Gain (%) | Estimated Price (₹) | Estimated Profit (₹) |
|---|---|---|---|---|---|
| 19 Feb 2026 | ₹117 | ₹2 | 1.71% | ₹119 | ₹4,800 |
| 18 Feb 2026 | ₹117 | ₹2 | 1.71% | ₹119 | ₹4,800 |
| 17 Feb 2026 | ₹117 | ▲ ₹2 | ▲ 1.71% | ₹119 | ₹4,800 |
| 16 Feb 2026 | ₹117 | ₹0 | 0% | ₹117 | ₹0 |
| 14 Feb 2026 | ₹117 | ₹0 | 0% | ₹117 | ₹0 |
| 13 Feb 2026 | ₹117 | ₹0 | 0% | ₹117 | ₹0 |
| 12 Feb 2026 | ₹117 | ₹0 | 0% | ₹117 | ₹0 |
| 11 Feb 2026 | ₹117 | ₹0 | 0% | ₹117 | ₹0 |
| 10 Feb 2026 | ₹117 | ₹0 | 0% | ₹117 | ₹0 |
| 09 Feb 2026 | ₹117 | ₹0 | 0% | ₹117 | ₹0 |
| 07 Feb 2026 | ₹117 | ₹0 | 0% | ₹117 | ₹0 |
| 06 Feb 2026 | ₹117 | ₹0 | 0% | ₹117 | ₹0 |
| 05 Feb 2026 | ₹117 | ₹0 | 0% | ₹117 | ₹0 |
| 04 Feb 2026 | ₹117 | ₹0 | 0% | ₹117 | ₹0 |
Marushika Technology Limited IPO GMP gives retail and institutional investors an idea about short-term market expectations. Although grey market premium does not guarantee listing performance, it is still commonly referred to while analysing IPOs. Investors are advised to look at Marushika Technology Limited fundamentals along with IPO GMP data before making any investment decision.
GMP Disclaimer: GMP (Grey Market Premium) prices are unofficial and only reflect market sentiment. We neither participate in grey-market trading nor encourage it. Investors are strongly advised to review the company’s fundamentals, risks, and official documents before considering an investment in the Marushika Technology Limited IPO.
Marushika Technology Limited IPO Subscription Status
Marushika Technology Limited IPO was subscribed 16.49 times overall on the final day of bidding (as of 16 Feb 2026).The subscription opened on 12 Feb 2026. The Retail portion was subscribed 16.02 times, while QIB and NII categories were subscribed 2.92 times and 30.5 times respectively.
Subscription by Category (QIB, NII, Retail, Employee)
Daily Subscription Trend (Day-wise):
| Date | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| 12 Feb 2026 | — | 0.07x | 0.54x | — | 0.27x |
| 13 Feb 2026 | — | 0.96x | 1.15x | — | 0.8x |
| 16 Feb 2026 | 2.92x | 30.5x | 16.02x | — | 16.49x |
On the first day, the Marushika Technology Limited IPO received good initial interest, with early participation from Retail and NII investors.
Demand for the Marushika Technology Limited IPO strengthened further on Day-2, driven mainly by higher bids from Retail, followed by NII investors.
By the end of the bidding period, the IPO was subscribed 16.49x overall, reflecting strong demand from key investor categories, led by NII, followed by Retail and QIB investors. Overall subscription for the Marushika Technology Limited IPO increased from 0.27x on Day-1 to 16.49x by the final day.
Marushika Technology Limited IPO Final Subscription
| Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 2.92x |
| Non-Institutional Investors (NII) | 30.59x |
| Retail Investors | 16.37x |
| Total | 16.68x |
Marushika Technology Limited IPO Allotment Status
The Marushika Technology Limited IPO allotment status was released on 17 Feb 2026. Investors who applied for the IPO can now check their Marushika Technology Limited allotment status online through the official registrar website and NSE / BSE portal.
- 🗓 Allotment Date: 17 Feb 2026
- 📈 Listing Date: 19 Feb 2026
How to Check Marushika Technology Limited IPO Allotment Status Online?
Investors can check the Marushika Technology Limited IPO allotment status online through Skyline Financial Services Private Limited and NSE websites. All platforms provide easy access to the IPO allotment details.
Just follow the below mentioned steps to check your allotment status.You can also visit
Skyline Financial Services
to know more about the IPO registrar.
Check on Skyline Financial Services Private Limited (IPO Registrar)
- Visit → Skyline Financial Services Private Limited
- Select Marushika Technology Limited
- Enter DPID/Client ID OR Application Number OR Pan of Investor
- Click Search to view allotment status
Check on NSE (National Stock Exchange) Website
- Go to → NSE Website
- Select Equity & SME IPO Bid Details.
- Choose Marushika Technology Limited IPO.
- Enter your PAN & Application Number.
- Click on Submit button.
The National Stock Exchange (NSE) provides an online facility to check the Marushika Technology Limited IPO allotment status.
Note: Allotment status is published only on the official registrar websites. We do not collect investor data or provide allotment verification directly.
How to Apply for Marushika Technology Limited IPO?
Login to Your Trading App
Open your trading app such as Angel One, Zerodha, Upstox, Groww or any brokerage app.
Go to the IPO Section
Navigate to the IPO section in the app, search for the IPO, and enter your bid details.
Enter Your UPI ID
Provide your UPI ID that is linked to your bank account for payment authentication.
Approve the Mandate
Open your UPI app and approve the payment mandate to block the required amount.
Application Confirmation
Application submitted successfully, the funds will remain blocked until allotment is finalized.
Marushika Technology Limited IPO Listing Analysis
Below is a quick summary of the Marushika Technology Limited IPO issue price, listing price, and listing gain on NSE.
| IPO Status | Issue Price | Listing Price | Listing Gain |
|---|---|---|---|
| Listed (NSE) | ₹117 | ₹120 | ▲ 2.56% |
Marushika Technology Limited debuted at ₹120, listing at a premium of +₹3 (+2.56%). The stock declined to ₹114, slipping -5.00% and ending -₹3 below (-2.56%). The investment fell to ₹136,800. Investors booked a loss of -₹3,600 per lot.
📌 IPO Issue Price and Lot Size
The IPO of Marushika Technology Limited was offered in the price band of ₹111 to ₹117 per share.
- The final issue price was fixed at ₹117.
- One lot consisted of 1200 shares.
- Minimum investment: ₹117 × 1200 = ₹140,400
- Investment after Day-1: ₹114 × 1200 = ₹136,800
- By the end of the listing session, investors faced a loss of -₹3,600 per lot.
📌 IPO Subscription Analysis
With an overall subscription of 16.49×, supported by QIB participation of 2.92×, the IPO delivered steady listing gains. The stock debuted at 2.56% and closed at -2.56%.
| Day | QIB | NNI | Retail | Total |
|---|---|---|---|---|
| Day 1 | 0x | 0.07x | 0.54x | 0.27x |
| Day 2 | 0x | 0.96x | 1.15x | 0.8x |
| Day 3 | 2.92x | 30.5x | 16.02x | 16.49x |
📌 Final Assessment
Overall Outcome: Average IPO
- Subscription Phase: High investor participation
- Listing Phase: Neutral listing performance
- Investor Experience: Limited downside impact
IPO Financial Summary
- Total Assets changed by 11.52% in FY 2024-2025.
- Total Revenue changed by 40.77% in FY 2024-2025.
- Profit After Tax changed by 100.32% in FY 2024-2025.
- Reserves & Surplus changed by 20.58% in FY 2024-2025.
- Total Borrowings changed by 8.81% in FY 2024-2025.
| Metric | 2025-03-31 | 2024-03-31 |
|---|---|---|
| Total Assets (₹ Cr) | 53.94 | 48.37 |
| Total Revenue (₹ Cr) | 85.63 | 60.83 |
| Profit After Tax (₹ Cr) | 6.29 | 3.14 |
| Reserves & Surplus (₹ Cr) | 9.14 | 7.58 |
| Total Borrowings (₹ Cr) | 21.37 | 19.64 |
Utilisation of Proceeds
The Company proposes to utilise the net IPO proceeds of approximately ₹39.36 crore towards the following objectives:
| # | Purpose | Amount (₹ Cr) | % of Total |
|---|---|---|---|
| 1 | Repayment and/ or pre-payment, in part or full, of certain borrowings availed by our Company | 5.00 | 12.70% |
| 2 | Funding of working capital requirement | 14.68 | 37.30% |
| 3 | Total | 19.68 | 50.00% |
| Total | 39.36 | 100% | |
Marushika Technology IPO Promoter Holding
| Promoter(s) | Ms. Monicca Agarwaal, Mr. Jai Prakash Pandey and Ms. Sonika Aggarwal |
|---|---|
| Pre-Issue Holding | 79.71% |
Marushika Technology Limited IPO FAQs
The Marushika Technology Limited IPO is a SME Bookbuilding IPO with a total issue size of ₹26.97 crore. The issue consists of a fresh issue of ₹26.97 crore.
The IPO will open for subscription on Thu, 12 Feb 2026 and will close on Mon, 16 Feb 2026.
The shares are being offered at a price band of ₹111 to ₹117 per equity share.
Investors can apply for the IPO with a minimum lot size of 1,200 shares.
At the upper price band, the minimum investment required for one lot is approximately ₹280,800.
The shares of Marushika Technology Limited are expected to be listed on NSE & SME on Thu, 19 Feb 2026.
The Grey Market Premium (GMP) of Marushika Technology Limited IPO is ₹2.
The expected listing price of Marushika Technology Limited IPO is around ₹119 based on current GMP. This indicates a potential return of approximately 1.71% , with an estimated profit of ₹2,400 per lot, subject to market conditions.
The Marushika Technology Limited IPO was subscribed 16.68 times on the final day of subscription.
The retail portion is subscribed 16.02 times as of 16 Feb 2026.
The QIB portion is subscribed 2.92 times and the NII portion is subscribed 30.5 times .
The IPO registrar of Marushika Technology Limited is Skyline Financial Services Private Limited. Skyline is responsible for processing IPO applications, finalizing allotment, crediting shares, and initiating refunds.
The allotment date is expected on Tue, 17 Feb 2026.
Allotment status is generally updated in the evening (6 PM – 10 PM) on Tue, 17 Feb 2026 on the registrar or exchange website.
Shares are expected to be credited by Wed, 18 Feb 2026.
Refunds for unsuccessful applicants will be initiated on Wed, 18 Feb 2026.
Investors can check refund status via:
- UPI mandate / bank account (NACH, NEFT, RTGS)
- ASBA bank portal
Marushika Technology Limited IPO is listed on NSE.
The current share price of Marushika Technology Limited is ₹114.00. The stock opened at ₹120.00, hit a high of ₹123.00 and a low of ₹114.00.
Marushika Technology Limited share price has decreased by ₹3.00 (2.56%) compared to the previous close. declined 5.00% from its listing price of ₹120.00 on NSE.
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