Technocrats Plasma Systems IPO

Technocrats Plasma Systems IPO is a ₹60.98 crore book-built issue, consisting entirely of a fresh issue of 0.46 crore shares.

The IPO will open for subscription on August 14, 2026, and close on August 18, 2026. The allotment is expected to be finalised on August 19, with the shares likely to be listed on the BSE SME platform on August 21, 2026.

The price band has been fixed at ₹125 to ₹132 per share, with a lot size of 1,000 shares. Retail investors need to apply for a minimum of 2 lots, or 2,000 shares, requiring an investment of ₹2.64 lakh at the upper price band. HNI investors need to apply for at least 3 lots, or 3,000 shares, amounting to ₹3.96 lakh.

Rarever Financial Advisors Pvt. Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the IPO registrar. Aftertrade Broking Pvt. Ltd. will act as the market maker.

Technocrats Plasma Systems IPO Important Dates

About Technocrats Plasma Systems 

Technocrats Plasma Systems Limited is an engineering company that manufactures cutting, welding and industrial automation equipment. Its product range includes manual and CNC plasma cutting machines, laser cutting and welding systems, arc welding power sources and customised automated fabrication solutions. 

The company also provides services such as installation, commissioning, maintenance, retrofitting and lifecycle support. Its solutions cater to industries including automotive, shipbuilding, heavy engineering and construction, allowing it to serve customers across different industrial applications. 

The company operates from two manufacturing facilities at Gaon Devi Industrial Estate in Vasai, Maharashtra, and had a workforce of around 40 employees as of mid-2026. Technocrats Plasma Systems primarily serves industrial customers in Maharashtra and Gujarat, while its dealer and technical service network gives it a wider presence across India. 

Industry Outlook

1. India’s engineering and capital goods sector is a key part of the country’s industrial economy, contributing around 3.5%–4% to GDP and over 25% of industrial output. The Engineering Services Outsourcing (ESO) market was valued at around $62.8 billion in 2025.
2. The ESO market is projected to reach around $211.4 billion by 2034, growing at a CAGR of 14.01%. Meanwhile, core engineering services are expected to grow at a CAGR of 8.2% between 2025 and 2030.
3. Growth is being supported by government infrastructure spending, Industry 4.0 adoption, the shift towards green energy and rising global demand for India’s engineering and R&D capabilities.

Technocrats Plasma Systems IPO Objectives

The company’s issue consists entirely of a Fresh Issue of up to 46,20,000 Equity Shares (aggregating up to ~₹60.98 Crores at the upper price band of ₹132 per share).

1. Funds will be used to procure and install machinery and capital equipment to expand the company’s manufacturing capacity.
2. A portion of the IPO proceeds will be used to meet the company’s additional working capital needs arising from higher production and business growth.
3. The remaining amount will be used for general corporate requirements, including operational and administrative expenses, subject to applicable regulatory limits.

Financial Performance of Technocrats Plasma Systems

Technocrats Plasma Systems Peer Comparison

Strengths and Opportunities for Technocrats Plasma Systems IPO

1. The company has over 30 years of experience in plasma surface treatment, welding and cutting automation.
2. Revenue from operations increased by around 166%, from ₹18.52 crore in FY24 to ₹49.23 crore in FY25.
3. The company reported a RoNW of around 56% and ROCE of around 49% in FY25.
4. It recorded an EBITDA margin of around 20% and a PAT margin of around 11% in FY25.
5. Its internal engineering team handles mechanical, electrical and control design, helping reduce reliance on external technology.
6. The company serves multiple sectors, including defence, automotive, steel, construction, shipbuilding and railways, reducing dependence on a single industry.
7. Its offerings cover equipment manufacturing, installation, commissioning, retrofitting and maintenance, allowing it to serve customers across the product lifecycle.
8. The company operates two manufacturing units at Gaodevi Industrial Estate in Vasai, Maharashtra, supporting production and testing activities.
9. Promoters Arun Kumar and Vandana Sharma, along with the technical team, bring experience in welding, automation and plasma engineering.
10. Increasing adoption of Industry 4.0 and automation could support demand for CNC plasma and laser cutting systems.
11. Higher capital expenditure and Make in India initiatives could create opportunities in defence and heavy engineering. 

Risks and Threats for Technocrats Plasma Systems IPO

1. The top 10 customers contributed 62.61% of revenue in FY26, making the company vulnerable to the loss of key clients.
2. Despite revenue growth, operating cash flow remained negative at ₹11.66 crore in FY26 and ₹5.05 crore in FY25, partly due to higher inventory and receivables.
3. The top 10 suppliers accounted for 93.50% of raw material purchases in FY26, increasing dependence on a limited supplier base.
4. Raw materials and components accounted for around 85.82% of operating revenue, leaving margins exposed to increases in steel, electronic components and other input costs.
5. Around 75.91% of FY26 revenue came from Maharashtra and Gujarat, exposing the company to regional economic and regulatory risks.
6. The company has reported delays in certain statutory filings, including GST and EPF-related filings, which could lead to penalties.
7. Long fabrication and testing cycles for customised equipment can tie up funds in inventory and trade receivables.
8. The company operates from leased facilities in Vasai, and delays in installing new machinery could affect production capacity and order execution.
9. Rapid advances in laser cutting, plasma systems and AI-based automation require continuous investment in technology and R&D.
10. The company faces competition from domestic players, multinational OEMs and lower-cost imports, particularly from East Asian manufacturers.

Technocrats Plasma Systems IPO Reservation

Technocrats Plasma Systems IPO Promoter Holding

The promoters of the company are Arun Kumar and Vandana Sharma. 

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

Technocrats Plasma Systems IPO Registrar and Lead Managers

Technocrats Plasma Systems IPO Lead Managers

Rarever Financial Advisors Pvt.Ltd.

Registrar for Technocrats Plasma Systems IPO

Name: Maashitla Securities Pvt.Ltd. 

Phone: 011-45121795

Email: ipo@maashitla.com

How To Check the Allotment Status of the Technocrats Plasma Systems IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Technocrats Plasma Systems IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Technocrats Plasma Systems IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Technocrats Plasma Systems IPO

Address: Gala No. 6, 7, 8, 105, 106, 107, 108, Nirav-2, Gaon Devi Industrial Estate, Sativali, Vasai East, Dist.Palghar, Maharashtra, 401208

Phone: 78880 99611

Email: cs@technocratplasma.com