Merritronix is to open its Initial Public Offering (IPO) for subscription on June 1, making it the first public issue scheduled for June on the SME platform.
The Telangana-based electronics manufacturing services company plans to raise ₹70.03 crore through a fresh issue of 47 lakh equity shares.
The IPO does not include any offer-for-sale component. The company has fixed the price band at ₹141 to ₹149 per share, taking the estimated valuation to about ₹260.5 crore.
The anchor investor portion will open on May 29 for 1 day. The public issue will close on June 3, while the basis of allotment is expected to be finalised on June 4.
The company’s shares are proposed to be listed on the BSE SME platform. Trading is expected to begin on June 8. GYR Capital Advisors is managing the issue as the sole book-running lead manager.
According to the company, ₹21.36 crore from the IPO proceeds will be used for purchasing machinery and equipment. Another ₹21.95 crore has been allocated towards working capital requirements.
The company also plans to use ₹12.7 crore for repayment of borrowings. The remaining amount will be utilised for general corporate purposes.
Merritronix provides business-to-business electronic manufacturing services. Its operations include component sourcing, printed circuit board assembly, system integration, testing, and box-build solutions.
The company supplies finished electronic products used in aerospace and defence-related applications. It operates in a segment where listed firms such as Centum Electronics and Vinyas Innovative Technologies are present.
Read More: Arohan Financial Services Eyes ₹600 Crore Fresh Issue Through Proposed IPO Filing!
For FY26, Merritronix reported a profit of ₹16.1 crore, compared with ₹8.7 crore in the previous financial year, an increase of 86%.
Revenue for the year rose to ₹155.9 crore from ₹113.6 crore a year earlier, registering growth of 37.3%.
The Merritronix IPO will be among the early SME public issues in the new financial quarter. The company is seeking to raise funds mainly for capacity expansion, working capital needs, and debt repayment.
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Published on: May 21, 2026, 12:20 PM IST
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