Matrix Geo Solutions IPO is a book-built issue with a total size of ₹40.20 crore. The issue is entirely a fresh issue of 0.39 crore shares of ₹40.20 crore, aiming to raise funds for the company’s business needs. The IPO opens for subscription on September 23, 2025, and will close on September 25, 2025.
The basis of allotment is expected to be finalised on September 26, 2025, and the shares are likely to be listed on NSE SME on September 30, 2025. The price band for the issue is set between ₹98 and ₹104 per share, offering investors an entry at different levels.
The minimum application size is 1,200 shares, making the minimum investment for retail investors ₹2,49,600 at the upper band. For HNI investors, the minimum lot size is 3 lots, equivalent to 3,600 shares, amounting to ₹3,74,400.
Narnolia Financial Services Limited is acting as the book running lead manager, while Maashitla Securities Private Limited has been appointed as the registrar to the issue. Prabhat Financial Services Limited is serving as the market maker for this IPO.
Matrix Geo Solutions IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funds will be used for purchase of new drones.
- Purchase of survey equipment and technologies.
- Investment will go into Capital expenditure.
- Part of the proceeds will meet working capital needs.
- Remaining funds will be used for general corporate purposes.
About Matrix Geo Solutions Limited
Matrix Geo Solutions Limited is a geospatial technology and consulting company that leverages advanced tools such as drones, LiDAR, satellite imagery, and remote sensing to deliver comprehensive survey and data-driven solutions.
Established in 2008 and later converted into a public limited company in 2024, the company has built expertise around Drone-as-a-Service (DaaS) and geospatial consulting.
It clients to access high-resolution aerial surveys, 3D models, topographical maps, and geo-referenced video solutions for applications like progress monitoring, infrastructure inspection, and incident management.
Beyond aerial surveys, the company provides end-to-end consultancy in geospatial data analysis, offering actionable insights across sectors such as railways, roadways, irrigation, mining, renewable energy, hydropower, urban planning, and agriculture.
Its services include the preparation of detailed reports, image interpretation, and land classification, supporting decision-making with accuracy and efficiency. The company also offers clients a web-based platform for real-time project data access, ensuring simplified monitoring and streamlined processes.
Matrix Geo Solutions Limited has successfully executed high-profile projects such as the Indian Railways High-Speed Rail Corridor, Bharatmala Road Project, Hemkund Sahib Ropeway, Statue of Unity Area Development, Chenab River surveys, multiple solar power projects, and Kumbh Mela planning.
The company is also empanelled with several government and private organizations that require frequent use of modern survey technologies. Such empanelments allow long-term collaboration at pre-agreed terms, helping reduce repetitive tendering and ensuring a consistent flow of projects over 2–5 year periods.
Industry Outlook
- India’s drone industry is poised for rapid growth, with the Civil Aviation Ministry projecting a market size of ₹120–150 billion (USD 1.5–1.9 billion) by 2026. Drone applications are now expanding into mining, surveillance, transportation, healthcare, and logistics.
- India’s IT industry revenue reached US$ 245 billion in FY23 and is expected to contribute 10% to India’s GDP by 2025, highlighting its role as a growth driver.
- Government spending remains a key driver, with ₹11.21 lakh crore allocated for capital expenditure in FY25, while private investment is also showing positive momentum through new projects and higher imports of capital goods.
- Rural demand is expected to strengthen further on the back of healthy sowing, strong reservoir levels, and supportive monsoon conditions.
How To Apply for the Matrix Geo Solutions IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Matrix Geo Solutions IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Matrix Geo Solutions IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Matrix Geo Solutions Limited
Registered office: Plot No-A-1/87, Third Floor, Sewak Park Uttam Nagar, West Delhi, New Delhi, 110059.
Phone: +91 7531007100
E-mail:cs@matrix-geo.com
Website:https://www.matrix-geo.com/
Matrix Geo Solutions IPO Reservation
|
Investor Category |
Shares Offered |
|
Market Maker Shares |
2,13,600 (5.53%) |
|
QIB Shares |
18,21,600 (47.13%) |
|
NII (HNI) Shares |
5,50,800 (14.25%) |
|
Retail Shares |
12,79,200 (33.10%) |
|
Total Shares |
38,65,200 (100.00%) |
Matrix Geo Solutions IPO Lot Size Details
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
2 |
2,400 |
₹2,49,600 |
|
Individual investors (Retail) (Max) |
2 |
2,400 |
₹2,49,600 |
|
S-HNI (Min) |
3 |
4,800 |
₹4,02,400 |
|
S-HNI (Max) |
7 |
11,200 |
₹9,40,800 |
|
B-HNI (Min) |
8 |
12,800 |
₹10,75,200 |
Matrix Geo Solutions IPO Promoter Holding
The promoters of the company include Mr. Rahul Jain, Mr. Amit Sharma, Ms. Meenal Jain and Ms. Harshada Kulkarni.
|
Share Holding Pre-Issue |
91.52% |
|
Share Holding Post Issue |
67.26% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Matrix Geo Solutions IPO Anchor Investors Details
|
Bid Date |
September 22, 2025 |
|
Shares Offered |
10,90,800 |
|
Anchor Portion Size (In ₹ Cr.) |
11.34 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
October 26, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
December 25, 2025 |
Key Performance Indicators for Matrix Geo Solutions IPO
|
KPI |
Value |
|
ROE (%) |
35.21 |
|
RoCE (%) |
33.69 |
|
Debt/Equity |
0.14 |
|
RoNW (%) |
35.21 |
|
EBITDA Margin (%) |
37.08 |
Matrix Geo Solutions IPO Prospectus
Matrix Geo Solutions IPO Registrar and Lead Managers
Matrix Geo Solutions IPO Lead Managers
- Narnolia Financial Services Limited
Registrar for Matrix Geo Solutions IPO
Maashitla Securities Private Limited
- Contact Number: +91-11-45121795-96
- Email Address: investor.ipo@maashitla.com
- Matrix Geo Solutions IPO Registrar: https://maashitla.com/allotment-status/public-issues
Financial Performance of Matrix Geo Solutions Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 |
|---|---|---|
| Revenue from Operations | 2,209.42 | 1,368.75 |
| EBITDA | 819.34 | 488.09 |
| EBITDA Margin (%) | 37.08% | 35.66% |
| Return on Capital Employed (RoCE) (%) | 33.69% | 35.53% |
| Operating Cash Flow | 197.22 | 204.56 |
| Profit After Tax (PAT) | 586.02 | 334.99 |
| Earnings Per Share (EPS) | 5.65 | 3.35 |
Know before investing
Strengths
9Rising adoption of agriculture drones supported by government promotion.
Increasing relevance of drone-based delivery solutions in healthcare due to time sensitivity.
Positioned to leverage faster, cheaper, and more reliable drone services across critical sectors.
Experience in adopting the latest technologies helps the company continuously improve its offerings.
An experienced and qualified management team drives strategic growth and innovation.
Promoters bring expertise in geospatial and remote sensing technologies across drones, aircraft, and satellite solutions.
Well-structured internal systems and processes support operational efficiency and client satisfaction.
A motivated workforce and strong managerial support complement the company’s long-term growth strategy.
Risks
9Challenges in attracting and retaining skilled personnel.
Potential inability to consistently deliver quality services.
Risk of falling behind if unable to adapt to evolving technologies.
Inability to adapt to evolving industry needs or sector-specific changes may hinder competitiveness.
Exposure to volatility in Indian and global capital markets may impact financial stability and growth.
High reliance on technology upgrades requires continuous investment, which may pressure margins.
Revenue concentration from limited contracts or sectors could increase business vulnerability.
Competition from domestic and international players in the geospatial and drone solutions industry poses ongoing challenges.
Matrix Geo Solutions Limited Peer Comparison
| Company Name | Face Value (₹/Share) | EPS (₹) | RoNW (%) | NAV (₹/Share) |
|---|---|---|---|---|
| Matrix Geo Solutions Limited | 10 | 5.65 | 35.21% | 20.44 |
| Genesys International Corporation Limited | 5 | 15.89 | 10.77% | 156.02 |
