SpectraA Technology Solutions IPO
Updated 11 Sept 2026, 5:03 pm.
Minimum investment (Individual investors (IND))
₹2,83,200
2 lots · 2,400 shares at the upper price band
Price band
₹112–118
Latest GMP
₹0
0.0% of the ₹118 upper band
Est. listing price
₹0
Issue size
₹40.37 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
| Observed | GMP | Est. listing price |
|---|---|---|
| 11 Sept 2026, 5:03 pm | ₹0 | ₹0 |
| 11 Sept 2026, 5:01 pm | ₹0 | ₹0 |
| 11 Sept 2026, 12:50 pm | ₹0 | ₹0 |
| 11 Sept 2026, 12:49 pm | ₹0 | ₹0 |
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- SME
- Price band
- ₹112–118
- Issue size
- ₹40.37 Cr
- Lot size
- 1,200
- Opens
- 17 Sept 2026
- Closes
- 21 Sept 2026
- Allotment
- 22 Sept 2026
- Listing
- 24 Sept 2026
- Est. listing price
- ₹0
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Maashitla Securities Pvt.Ltd.
- Minimum investment
- ₹2,83,200 (2 lots · 2,400 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital cum OFS
- Offer for sale
- ₹4 Cr
- Listing at
- NSE SME
- Refunds
- 23 Sept 2026
- Shares credited
- 23 Sept 2026
- Promoter holding
- 100% before · 73% after
- Lead managers
- Indcap Advisors Pvt.Ltd.
Offer documents & links
Full issue details
Details as published for this issue, read 11 Sept 2026, 8:16 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 17 to 21 Sep, 2026 |
|---|---|
| Listing Date | Thu, Sep 24, 2026 T |
| Face Value | ₹ 10 per share |
| Price Band | ₹112 to ₹118 |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 36,03,600 shares (agg. up to ₹ 43 Cr) |
|---|---|
| Reserved for Market Maker | 1,82,400 shares (agg. up to ₹ 2 Cr) |
| Fresh Issue (Ex Market Maker) | 30,73,200 shares (agg. up to ₹ 36 Cr) |
| Offer for Sale | 3,48,000 shares of ₹ 10 (agg. up to ₹ 4 Cr) |
| Net Offered to Public | 34,21,200 shares (agg. up to ₹ 40 Cr) |
| Share Holding Pre Issue | 1,00,91,646 shares |
| Share Holding Post Issue | 1,33,47,246 shares |
IPO Timetable (Tentative)
- IPO Open
- Thu, Sep 17, 2026
- IPO Close
- Mon, Sep 21, 2026
- Allotment
- Tue, Sep 22, 2026
- Refund
- Wed, Sep 23, 2026
- Credit of Shares
- Wed, Sep 23, 2026
- Listing
- Thu, Sep 24, 2026
Issue Reservation
| Investor Category | Shares |
|---|---|
| QIB | Not more than 50% of the Net Offer |
| Retail | Not less than 35% of the Net Offer |
| NII | Not less than 15% of the Net Offer |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 2400 | ₹2,83,200 |
| Individual investors (IND) (Max) | 2 | 2400 | ₹2,83,200 |
| S-HNI (Min) | 3 | 3600 | ₹4,24,800 |
| S-HNI (Max) | 7 | 8400 | ₹9,91,200 |
| B-HNI (Min) | 8 | 9600 | ₹11,32,800 |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
IPO Subscription Details
About SpectraA Technology Solutions Ltd.
Incorporated in 2009, Spectraa Technology Solutions Limited provides 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.
It primarily caters to the following product verticals:
1. Commercial Brewery Equipment: Turnkey brewhouse and cellar systems for commercial-scale beer brewing, fermentation, conditioning, and storage.
2. Distillery Equipment: Copper pot still–based turnkey distillation systems to separate and concentrate alcohol and flavour compounds for spirits.
3. Food and Beverages Plants: Process equipment and integrated utilities/packaging interfaces for extracting and processing flavour and colour from plant-based inputs.
4. Microbrewery Equipment: Turnkey brewhouse and cellar systems for craft/micro-scale beer brewing, fermentation, conditioning, and storage.
5. Malt Spirit Equipment: Turnkey milling-to-distillation equipment trains for producing malt spirit from malted grains, including wash/spirit stills, condensers, and blending/storage tanks.
6. Extraction Plant: Extraction vessels with holding/buffer tanks.
The company have two manufacturing facilities located at Bengaluru and Jaipur with an aggregate built up area of 33,214.75 square feet.
As on the date of DRHP, it has partnered with more than across India and international market.
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
Company Financials (Restated Consolidated)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 111.63 | 100.00 | 66.64 | 59.72 |
| Total Income | 34.12 | 75.53 | 89.68 | 103.49 |
| Profit After Tax | 4.41 | 4.91 | 2.00 | 1.78 |
| EBITDA | 7.60 | 10.13 | 4.48 | 3.78 |
| NET Worth | 17.58 | 13.12 | 8.18 | 6.17 |
| Reserves and Surplus | 16.46 | 12.00 | 7.06 | 5.05 |
| Total Borrowing | 24.63 | 17.21 | 14.19 | 10.55 |
| Amount in ₹ Crore |
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| Apollo Techno Industries Ltd. | SME | ₹47.96 Cr | ₹130 | 9.43 | ₹151.95 | +16.88% | ₹92.45 |
| HRS Aluglaze Ltd. | SME | ₹50.92 Cr | ₹96 | 26.07 | ₹132.30 | +37.81% | ₹258.50 |
| Purple Wave Infocom Ltd. | SME | ₹31.45 Cr | ₹126 | 9.33 | ₹130.50 | +3.57% | ₹428.20 |
| Shining Tools Ltd. | SME | ₹17.10 Cr | ₹114 | 16.18 | ₹98.80 | -13.33% | ₹115.90 |
| True Colors Ltd. | SME | ₹127.96 Cr | ₹191 | 14.66 | ₹183.05 | -4.16% | ₹150.00 |
| Tempsens Instruments (India) Ltd. | Mainboard | ₹650.00 Cr | ₹300 | 34.05 | ₹586.65 | +95.55% | ₹581.30 |
| MV Electrosystems Ltd. | Mainboard | ₹290.00 Cr | ₹425 | -68.88 | ₹624.00 | +46.82% | ₹835.45 |
| Indo-MIM Ltd. | Mainboard | ₹3,812.11 Cr | ₹485 | 44.01 | ₹741.75 | +52.94% | ₹1,006.55 |
| Lohia Corp Ltd. | Mainboard | ₹1,101.28 Cr | ₹425 | 23.21 | ₹494.60 | +16.38% | ₹561.25 |
| Omnitech Engineering Ltd. | Mainboard | ₹583.00 Cr | ₹227 | 54.47 | ₹204.93 | -9.72% | ₹563.35 |
| Epack Prefab Technologies Ltd. | Mainboard | ₹504.00 Cr | ₹204 | 29.49 | ₹190.66 | -6.54% | ₹239.03 |
View More »
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure at Jaipur manufacturing facility | 12.41 |
| 2 | Repayment of Term Loans availed by the Company | 9.00 |
| 3 | Working Capital requirements | 9.50 |
| 4 | General Corporate Purposes | — |
| Total | 30.91 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 60.95% | 46.14% |
| ROCE | 37.61% | 31.92% |
| Debt/Equity | — | 1.31 |
| RoNW | 46.59% | 37.46% |
| PAT Margin | 11.42% | 6.54% |
| EBITDA Margin | 19.04% | 13.48% |
| NAV | 24.58 | 116.98 |
| Price to Book Value | 4.80 | 1.01 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 4.87 | 6.61 |
| P/E (x) | 24.23 | 17.85 |
| Market Cap at Offer Price | ₹119.08 Cr. | ₹157.50 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 100% | 73% |
| Public | — | 27.00% |
| Total | 100% | 100% |
Company Promoters: A L Arun Kumar, Sailaja Arun Kumar, Praveen Kumar Appukuttan Nair Leela and Divya Praveen.
Offer For Sale - Selling Shareholders
| Name | Category | No. of Shares Offered | Amount (₹ cr.) |
|---|---|---|---|
| A.L.Arun Kumar | Promoter | 1,74,000 | 2.05 |
| Sailaja Arun Kumar | Promoter | 1,74,000 | 2.05 |
| Total | — | 3,48,000 | 4.11 |
SpectraA Technology Solutions IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Registrar
Maashitla Securities Pvt.Ltd.
011-45121795
investor.ipo@maashitla.com
IPO Lead Manager(s)
Indcap Advisors Pvt.Ltd.
Contact Details
SpectraA Technology Solutions Ltd. Address
17/7 Ali Asker Road,
Cunningham Rd, Bangalore G.P.O,
Bangalore North
Bangalore Rural, Karnataka , 560001
+91 80 41150466
cs@spectraa.com
SpectraA Technology Solutions IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
