Merritronix Ipo
Merritronix IPO Review & Key Points
Review: May Apply
IPO Lead Managers aka Merchant Bankers
GYR Capital Advisors Pvt.Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | June 1, 2026 |
| IPO Close Date | June 3, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹141 to ₹149 Per Share |
| Issue Size | Approx ₹70.03 Crores, 47,00,000 Equity Shares |
| Fresh Issue | Approx ₹70.03 Crores, 47,00,000 Equity Shares |
| Issue Type | Book Building Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,000 | ₹2,98,000 |
| Retail Maximum | 2 | 2,000 | ₹2,98,000 |
| S-HNI Minimum | 3 | 3,000 | ₹4,47,000 |
| S-HNI Maximum | 6 | 6,000 | ₹8,94,000 |
| B-HNI Minimum | 7 | 7,000 | ₹10,43,000 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 13,36,000 Shares | 28.43% |
| QIB (Ex. Anchor) | 8,92,000 Shares | 18.98% |
| NII Shares Offered | 6,72,000 Shares | 14.30% |
| Retail Shares Offered | 15,64,000 Shares | 33.28% |
| Anchor Bidding Date | May 26, 2026 |
| Anchor Investors List | |
| Shares Offered | 13,36,000 Shares |
| Anchor Size | 19.91 Cr. |
| lock-in period end date 50% shares (30 Days) | July 4, 2026 |
| lock-in period end date 50% shares (90 Days) | Sep 2, 2026 |
| IPO Open Date: | June 1, 2026 |
| IPO Close Date: | June 3, 2026 |
| Basis of Allotment: | June 4, 2026 |
| Refunds: | June 5, 2026 |
| Credit to Demat Account: | June 5, 2026 |
| IPO Listing Date: | June 8, 2026 |
| IPO Bidding Cut-off Time: | June 3, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,27,84,854 | 85.17% |
| Promoter Holding Post Issue | 1,74,84,854 | -% |
| Purpose | Crores |
| Capital expenditure towards purchase of Machinery and equipment | ₹21.36 |
| Funding working capital requirements | ₹21.95 |
| Repayment/ prepayment, in full or part, of all or certain outstanding borrowings availed by the Company | ₹12.72 |
| General corporate purposes | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ₹86.01 | ₹81.72 | ₹3.05 | ₹68.44 |
| 2025 | ₹114.04 | ₹101.64 | ₹8.66 | ₹74.18 |
| 2026 | ₹156.25 | ₹133.23 | ₹16.10 | ₹154.40 |
| KPI | Values |
| ROE: | 46.03% |
| ROCE: | 45.26% |
| EBITDA Margin: | 17.42% |
| PAT Margin: | 10.33% |
| Debt to equity ratio: | 0.81 |
| Earning Per Share (EPS): | ₹13.92 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 30.66% |
| Net Asset Value (NAV): | ₹41.56 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Centum Electronics Limited | NA | NA | 15.09 | 233.36 | 968.57 Cr. |
| Vinyas Innovative Technologies Limited | 15.43 | 62.85 | 13.22 | 116.77 | 400.15 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |