SpectraA Technology Solutions IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 184.55x |
| NII | 441.66x |
| sNII (₹2L–₹10L) | 349.83x |
| bNII (above ₹10L) | 487.57x |
| Retail (RII) | 313.17x |
| Total | 304.06x |
Bidding day 5 · final figures at close of bidding: 24 Sept 2026, 6:30 pm IST
IPO Details
- Open Date
- 17 Sept 2026
- Close Date
- 21 Sept 2026
- Listing Date
- 24 Sept 2026
- Face Value
- ₹10
- Fresh Issue
- ₹36.26 Cr
- OFS
- ₹4.11 Cr
- Listing On
- NSE
- Registrar
- Maashitla Securities
The fresh issue is money for the company; the OFS goes to selling shareholders. Fresh issue vs offer for sale, explained
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,83,200 |
| HNI (Min) | 3 | 3,600 | ₹4,24,800 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| Anchor | 10,24,800 | 29.95% |
| QIB (ex-anchor) | 6,84,000 | 19.99% |
| NII | 5,14,800 | 15.05% |
| — sNII (< ₹10L) | 1,71,600 | 5.02% |
| — bNII (> ₹10L) | 3,43,200 | 10.03% |
| Retail | 11,97,600 | 35.01% |
| Total | 34,21,200 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 89.68 | 2 | 4.48 | 8.18 | 66.64 | 14.19 | — |
| FY 2025 | 75.53 | 4.91 | 10.13 | 13.12 | 100 | 17.21 | — |
| FY 2026 | 103.05 | 11.56 | 19.26 | 24.81 | 106.29 | 26.96 | 11.45 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 10.31x
- P/E (post-issue)
- 13.63x
- RoNW
- 46.59%
- RoE
- 60.95%
- RoCE
- 37.61%
- Debt / Equity
- 1.09
- EPS (pre-issue)
- ₹11.45
- EPS (post-issue)
- ₹8.66
- EBITDA Margin
- 19.04%
- PAT Margin
- 11.42%
- P/BV
- 4.8x
- NAV / share
- ₹24.58
- Market Cap
- ₹157.5 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Capital Expenditure at Jaipur manufacturing facility | ₹11 Cr |
| Repayment of Term Loans availed by the Company | ₹6.48 Cr |
| Working Capital requirements | ₹9.5 Cr |
| General Corporate Purposes | ₹5.7 Cr |
| Issue Expenses | ₹5.74 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Fees payable to the BRLM (including underwriting commission | ₹2.34 Cr |
| Fees Payable to Registrar to the Offer | ₹0.02 Cr |
| Fees Payable for Advertising, Marketing Expenses | ₹0.08 Cr |
| Fees Payable to Regulators including Stock Exchange | ₹0.15 Cr |
| Payment for Printing & Stationery, Postage, etc | ₹0.01 Cr |
| Fees Payable to Auditor, Legal Advisors and other Professionals | ₹0.1 Cr |
| Others, (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees, Underwriting fees and Miscellaneous Expenses | ₹3.05 Cr |
Promoters & Shareholding
Promoters: <p>A L Arun Kumar, Sailaja Arun Kumar, Praveen Kumar Appukuttan Nair Leela, Divya Praveen</p>
- Holding (pre-issue)
- 96.04%
- Holding (post-issue)
- 70%
- Dilution
- 26.04%
Documents
Anchor Investors
| Investor | Category | Shares | Price | Amount ₹Cr | Allocation |
|---|---|---|---|---|---|
| FORTUNE HANDS GROWTH FUND-FORTUNE HANDS GROWTH FUND SCHEME I | Other | 4,23,600 | ₹118 | 5 | 41.33% |
| KHANDELWAL FINANCE PVT.LTD. | Other | 2,43,600 | ₹118 | 2.87 | 23.77% |
| AARTH AIF GROWTH FUND | Other | 1,87,200 | ₹118 | 2.21 | 18.27% |
| ARTHASANCHAY INVESTMENT TRUST-ARTHASANCHAY GROWTH FUND | Other | 85,200 | ₹118 | 1.01 | 8.31% |
| EVERGROW CAPITAL OPPORTUNITIES FUND | Other | 85,200 | ₹118 | 1.01 | 8.31% |
Anchor bidding took place on 16 Sept 2026. Anchor lock-in: 50% of shares unlock on 22 Oct 2026, the remainder on 21 Dec 2026.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| SpectraA Technology Solutions | 11.45 | 24.58 | — | 46.59% | — | Consolidated |
| Praj Industries Limited | 1.3 | 71.23 | 258.89x | 1.82% | 4.73x | Consolidated |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the SpectraA Technology Solutions IPO
The SpectraA Technology Solutions SME IPO opens for subscription on 17 Sept 2026 and closes on 21 Sept 2026, offered at a price band of ₹112–118 per share, and is set to list on NSE. In total, the issue aims to mobilise ₹42.52 crore. Retail investors bid in lots of 1200 shares, a minimum application of ₹2,83,200.
Issue structure
The offer combines a fresh issue of ₹36.26 crore with an offer for sale (OFS) of ₹4.11 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward capital expenditure at jaipur manufacturing facility (₹11 crore), alongside working capital requirements (₹9.5 crore). In all, 5 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, SpectraA Technology Solutions reported revenue of ₹103.05 crore and a net profit of ₹11.56 crore. Revenue grew from ₹89.68 crore in FY2024 to ₹103.05 crore in FY2026 (+15.0%). Net worth stood at ₹24.81 crore at the end of FY2026. At the upper band, that puts the issue at roughly 10.3× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 13.63× post-issue earnings and 4.8× book value, against a return on net worth of 46.59% and a debt-to-equity ratio of 1.09. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>A L Arun Kumar, Sailaja Arun Kumar, Praveen Kumar Appukuttan Nair Leela, Divya Praveen</p>. Promoter holding stands at 96.04% before the issue and comes down to 70% after listing.
Grey market premium (GMP)
In the unofficial grey market, SpectraA Technology Solutions shares are quoted at a premium of ₹81 implying an expected listing around ₹199, about +68.6% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The SpectraA Technology Solutions IPO was subscribed 304.06 times overall. The strongest demand came from non-institutional investors (NII) at 441.66 times, with qualified institutional buyers (QIB) at 184.55× and retail investors at 313.17×.
Listing performance
SpectraA Technology Solutions listed on 24 Sept 2026 at ₹224.2, a premium of +90.0% over the issue price of ₹118.
What to weigh
When evaluating the SpectraA Technology Solutions IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About SpectraA Technology Solutions
Incorporated in 2009, Spectraa Technology Solutions Limited is engaged in providing IT and technology solutions to businesses across various industries. Spectraa Technology Solutions focuses on delivering customized, technology-driven solutions and caters to a range of clients through its expertise in innovation, automation, and digital services. The company prodvides engineering, designing, fabrication, installation, commissioning and decommissioning greenfield and brownfield projects across various industries which include, Breweries (Craft and Microbreweries), Distilleries, Food and Beverages, Malt Spirit and Blending, Extraction Plants, FMCG (Fast Moving Consumer Goods) and Pharmaceuticals. The company have two manufacturing facilities located at Bengaluru and Jaipur with an aggregate built up area of 33,214.75 square feet. Competitive Strengths: Geographical Advantage of two manufacturing facilities In-house Product Fabrication Diversified and Sustainable Order Book Quality Control and Compliance Experienced Leadership and Skilled Team
SpectraA Technology Solutions — Contact Details
- Registered office
- 17/7 Ali Asker Road, Cunningham Rd, Bangalore G.P.O, Bangalore Rural, Karnataka, 560001
- Phone
- +91 80 41150466
- cs@spectraa.com
- Website
- www.spectraa.com/
- Registrar (IPO queries)
- investor.ipo@maashitla.com
Frequently asked questions
- What is the SpectraA Technology Solutions IPO price band?
- The SpectraA Technology Solutions IPO price band is ₹112 to ₹118 per share, with a lot size of 1200 shares.
- What was the SpectraA Technology Solutions IPO GMP before listing?
- The final grey market premium recorded before the SpectraA Technology Solutions IPO listed was ₹81. The IPO listed on 24 Sept 2026 at ₹224.2, +90.0% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the SpectraA Technology Solutions IPO open and close?
- The SpectraA Technology Solutions IPO opens on 17 Sept 2026 and closes on 21 Sept 2026.
- When is the SpectraA Technology Solutions IPO allotment and listing date?
- Allotment is expected on 22 Sept 2026. The shares are scheduled to list on 24 Sept 2026 on NSE.
- How many times was the SpectraA Technology Solutions IPO subscribed?
- The SpectraA Technology Solutions IPO was subscribed 304.06 times in total across all investor categories.
- What is the reservation split in the SpectraA Technology Solutions IPO?
- Of the total shares offered, retail investors get 35.01%, QIBs 19.99% (plus 29.95% anchor), non-institutional investors 15.05%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of SpectraA Technology Solutions and what is their holding?
- The promoters are <p>A L Arun Kumar, Sailaja Arun Kumar, Praveen Kumar Appukuttan Nair Leela, Divya Praveen</p>. Promoter holding is 96.04% before the issue and 70% after listing.
- What is the P/E ratio of the SpectraA Technology Solutions IPO?
- At the upper price band, the SpectraA Technology Solutions IPO is valued at 10.31× pre-issue earnings and 13.63× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the SpectraA Technology Solutions IPO?
- The net proceeds go primarily toward capital expenditure at jaipur manufacturing facility, among 5 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the SpectraA Technology Solutions IPO?
- The book-running lead manager is Indcap Advisors Pvt.Ltd.. Maashitla Securities is the registrar to the issue.
- Is SpectraA Technology Solutions a Mainboard or SME IPO?
- SpectraA Technology Solutions is an SME IPO, listing on NSE (SME platform).