SpectraA Technology Solutions IPO
Updated 24 Oct 2026, 6:50 pm.
Minimum investment (Individual investors (IND))
₹2,83,200
2 lots · 2,400 shares at the upper price band
Price band
₹118
Latest GMP
₹81
+68.6% of the ₹118 upper band
Est. listing price
₹199
Issue size
₹4.11 Cr
Listing price
₹224.20
NSE SPECTRAA, special pre-open price
Listing gain
+90.0%
Listing price against the issue price
First-day close
₹235.40
Since issue
+96.3%
₹231.6 close, 23 Oct 2026
As NSE lists it
The exchange's own issue data, NSE symbol SPECTRAA · read 24 Oct 2026, 12:15 am
- Price band
- ₹112–118
- Bidding
- 17 Sept 2026 – 21 Sept 2026
- Subscribed (NSE)
- —
- Shares offered
- —
- Listed
- 24 Sept 2026
- Issue price
- ₹118
NSE's subscription counts bids on its own platform and can differ from the combined NSE + BSE figure above.
Allotment status
Check it on the registrar's page or either exchange with your PAN or application number.
- Allotment finalised22 Sept 2026(done)
- Refunds start23 Sept 2026(done)
- Shares credited to demat23 Sept 2026(done)
- Listing24 Sept 2026(done)
GMP history
Each point is a recorded observation from the scheduled data sync.
| Observed | GMP | Est. listing price |
|---|---|---|
| 24 Sept 2026, 1:50 pm | ₹81 | ₹199 |
| 24 Sept 2026, 1:45 pm | ₹81 | ₹199 |
| 23 Sept 2026, 6:50 pm | ₹75 | ₹191 |
| 23 Sept 2026, 6:45 pm | ₹73 | ₹191 |
| 23 Sept 2026, 1:50 pm | ₹75 | ₹191 |
| 23 Sept 2026, 1:45 pm | ₹73 | ₹191 |
| 23 Sept 2026, 8:50 am | ₹73 | ₹191 |
| 23 Sept 2026, 8:45 am | ₹73 | ₹191 |
| 22 Sept 2026, 6:50 pm | ₹67 | ₹185 |
| 22 Sept 2026, 6:45 pm | ₹67 | ₹185 |
| 22 Sept 2026, 1:50 pm | ₹67 | ₹185 |
| 22 Sept 2026, 1:45 pm | ₹67 | ₹185 |
| 22 Sept 2026, 8:50 am | ₹67 | ₹185 |
| 22 Sept 2026, 8:45 am | ₹67 | ₹185 |
| 21 Sept 2026, 6:50 pm | ₹45 | ₹163 |
| 21 Sept 2026, 6:45 pm | ₹45 | ₹163 |
| 21 Sept 2026, 1:50 pm | ₹45 | ₹163 |
| 21 Sept 2026, 1:46 pm | ₹45 | ₹163 |
| 21 Sept 2026, 11:23 am | ₹45 | ₹163 |
| 21 Sept 2026, 8:45 am | ₹45 | ₹163 |
| 19 Sept 2026, 6:45 pm | ₹45 | ₹163 |
| 19 Sept 2026, 1:45 pm | ₹45 | ₹163 |
| 19 Sept 2026, 8:45 am | ₹45 | ₹163 |
| 18 Sept 2026, 6:45 pm | ₹30 | ₹148 |
| 18 Sept 2026, 1:45 pm | ₹30 | ₹148 |
| 18 Sept 2026, 8:45 am | ₹30 | ₹148 |
| 17 Sept 2026, 6:45 pm | ₹50 | ₹168 |
| 17 Sept 2026, 1:45 pm | ₹50 | ₹168 |
| 17 Sept 2026, 8:45 am | ₹50 | ₹168 |
| 16 Sept 2026, 6:45 pm | ₹50 | ₹168 |
| 16 Sept 2026, 1:45 pm | ₹50 | ₹168 |
| 16 Sept 2026, 8:50 am | ₹50 | ₹168 |
| 16 Sept 2026, 8:45 am | ₹50 | ₹168 |
| 15 Sept 2026, 9:28 pm | ₹47 | ₹162 |
| 15 Sept 2026, 9:20 pm | ₹44 | ₹162 |
| 15 Sept 2026, 8:37 pm | ₹44 | ₹162 |
| 15 Sept 2026, 8:30 pm | ₹44 | ₹162 |
| 15 Sept 2026, 8:00 pm | ₹44 | ₹162 |
| 15 Sept 2026, 2:12 pm | ₹47 | ₹162 |
| 15 Sept 2026, 2:10 pm | ₹44 | ₹162 |
| 15 Sept 2026, 12:09 am | ₹36 | ₹145 |
| 15 Sept 2026, 12:08 am | ₹27 | ₹145 |
| 14 Sept 2026, 2:27 pm | ₹34 | ₹145 |
| 14 Sept 2026, 2:25 pm | ₹27 | ₹145 |
| 12 Sept 2026, 9:50 pm | ₹0 | ₹0 |
| 12 Sept 2026, 9:49 pm | ₹0 | ₹0 |
| 12 Sept 2026, 5:41 pm | ₹0 | ₹0 |
| 12 Sept 2026, 5:40 pm | ₹0 | ₹0 |
| 12 Sept 2026, 1:26 pm | ₹0 | ₹0 |
| 12 Sept 2026, 1:25 pm | ₹0 | ₹0 |
| 11 Sept 2026, 10:33 pm | ₹0 | ₹0 |
| 11 Sept 2026, 10:31 pm | ₹0 | ₹0 |
| 11 Sept 2026, 6:20 pm | ₹0 | ₹0 |
| 11 Sept 2026, 6:19 pm | ₹0 | ₹0 |
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- SME
- Price band
- ₹118
- Issue size
- ₹4.11 Cr
- Lot size
- 1,200
- Opens
- 17 Sept 2026
- Closes
- 21 Sept 2026
- Allotment
- 22 Sept 2026
- Listing
- 24 Sept 2026
- Est. listing price
- ₹199
- Listing price
- ₹224
- Listing gain
- +90.0%
- 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
- 96.04% before · 70% after
- Lead managers
- Indcap Advisors Pvt.Ltd.
Offer documents & links
Subscription by category
As of 21 Sept 2026, 6:54 pm.
Total subscription
304.06x
Full issue details
Details as published for this issue, read 23 Sept 2026, 9:05 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 17 to 21 Sep, 2026 |
|---|---|
| Listing Date | Thu, Sep 24, 2026 (tentative) |
| Face Value | ₹ 10 per share |
| Price Band | ₹112 to ₹118 |
| Issue Price | ₹118 per share |
| 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) Asnani Stock Broker Pvt.Ltd. |
| 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
- QIB47.42%
- NII (HNI)14.29%
- Retail33.23%
- Market Maker5.06%
| Investor Category | Shares | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB | 17,08,800 | 49.95% | 47.42% |
| - Anchor Investor | 10,24,800 | — | 28.44% |
| - QIB (Ex. Anchor) | 6,84,000 | — | 18.98% |
| NII (HNI) | 5,14,800 | 15.05% | 14.29% |
| - bNII > ₹10L | 3,43,200 | — | 9.52% |
| - sNII < ₹10L | 1,71,600 | — | 4.76% |
| Retail | 11,97,600 | 35.01% | 33.23% |
| Firm Reservations | |||
| Market Maker | 1,82,400 | — | 5.06% |
| Total | 36,03,600 | 100.00% | 100.00% |
SpectraA Technology Solutions IPO comprises a total issue size of 36,03,600 shares. The net offer to the public is 34,21,200 shares, after excluding 1,82,400 shares allotted on a firm basis. Of the Net offer 17,08,800 (49.95%) are allocated to QIB , 5,14,800 (15.05%) allocated to NII 11,97,600 (35.01%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 2,400 | ₹2,83,200 |
| Individual investors (IND) (Max) | 2 | 2,400 | ₹2,83,200 |
| S-HNI (Min) | 3 | 3,600 | ₹4,24,800 |
| S-HNI (Max) | 7 | 8,400 | ₹9,91,200 |
| B-HNI (Min) | 8 | 9,600 | ₹11,32,800 |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
IPO Anchor Investors
| Bid Date | Wed, Sep 16, 2026 |
|---|---|
| Shares Offered | 10,24,800 |
| Anchor Portion (₹ Cr.) | 12.09 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Oct 22, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Dec 21, 2026 |
SpectraA Technology Solutions IPO raises ₹ 12.09 crore from anchor investors . SpectraA Technology Solutions IPO Anchor bid date is September 16, 2026 .
📝 Anchor Investors Letter (PDF)
About SpectraA Technology Solutions Ltd.
Incorporated in January 2009, SpectraA Technology Solutions Limited is an engineering and technology solutions provider engaged in the design, fabrication, installation, commissioning and decommissioning of greenfield and brownfield projects. The Company undertakes projects from engineering and design to fabrication, installation, commissioning and handover, with in-house manufacturing of key equipment and customised process plant systems. Its product portfolio includes commercial brewery equipment, distillery equipment, food and beverage plants, microbrewery equipment, malt spirit equipment and extraction plants. The Company also uses standardised modules and designs and deploys dedicated project teams at client sites to support timely project execution and cost control.
The Company has built process systems in accordance with ISO 9001:2015 and undertakes customised projects based on customer specifications. Its solutions are used for applications including beer brewing, fermentation, distillation, spirit production, extraction of flavours and colours from plant-based inputs, and processing of food and beverage products.
The Company operates two manufacturing facilities located in Bengaluru and Jaipur, with an aggregate built-up area of approximately 33,215 sq. ft. It follows a dual-sourcing approach for critical inputs and develops local vendor bases around its manufacturing hubs to support procurement and project schedules. The Company has also installed an aggregate 100 kWp rooftop solar capacity across its Malur plant, Jaipur plant and registered office, supporting reduction in power costs.
The Company has completed projects across various industries and maintains a diversified order book covering breweries, distilleries, food and beverages, malt spirit and blending, extraction plants, FMCG and pharmaceuticals.
As of August 31, 2026, the Company had 79 employees across management, sales, accounts, project and site operations, production, purchase, design and engineering, electrical, logistics and other functions.
Competitive Strengths
Diversified and sustainable order book.
Diversified product and industry portfolio.
End-to-end project execution capabilities.
Experienced leadership and skilled workforce.
Two strategically located manufacturing facilities.
In-house fabrication and manufacturing capabilities.
Quality-focused and ISO 9001:2015 compliant systems.
Company Financials (Restated Consolidated)
Total Income
Profit After Tax
EBITDA
NET Worth
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 106.29 | 100.00 | 66.64 |
| Total Income | 103.05 | 75.53 | 89.68 |
| Profit After Tax | 11.56 | 4.91 | 2.00 |
| EBITDA | 19.26 | 10.13 | 4.48 |
| NET Worth | 24.81 | 13.12 | 8.18 |
| Reserves and Surplus | 14.72 | 12.00 | 7.06 |
| Total Borrowing | 26.96 | 17.21 | 14.19 |
| Amount in ₹ Crore |
SpectraA Technology Solutions Ltd.'s revenue increased by 36% and profit after tax (PAT) rose by 135% between the financial year ending with March 31, 2026 and March 31, 2025.
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IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure at Jaipur manufacturing facility | 11.00 |
| 2 | Repayment of Term Loans availed by the Company | 6.48 |
| 3 | Working Capital requirements | 9.50 |
| 4 | General Corporate Purposes | 5.70 |
| 5 | Issue Expenses | 5.74 |
| Total | 38.42 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 60.95% |
| ROCE | 37.61% |
| Debt/Equity | 1.09 |
| RoNW | 46.59% |
| PAT Margin | 11.42% |
| EBITDA Margin | 19.04% |
| NAV | 24.58 |
| Price to Book Value | 4.80 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 11.45 | 8.66 |
| P/E (x) | 10.31 | 13.63 |
| 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, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
Pre IPO
- Promoter and Promoter Group96.04%
- Public3.96%
Post IPO
- Promoter and Promoter Group70%
- Public30.00%
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 96.04% | 70% |
| Public | 3.96% | 30.00% |
| 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 | 1 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Subscription Status
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| QIB (Ex Anchor) | 184.55 | 6,84,000 | 12,62,30,400 | 172 |
| NII * | 441.66 | 5,14,800 | 22,73,65,200 | 0 |
| bNII (> ₹10L) | 487.57 | 3,43,200 | 16,73,34,000 | — |
| sNII (< ₹10L) | 349.83 | 1,71,600 | 6,00,31,200 | — |
| Individual Investor | 313.17 | 11,97,600 | 37,50,50,400 | 1,56,271 |
| Total | 304.06 | 23,96,400 | 72,86,46,000 | 1,88,895 |
The SpectraA Technology Solutions IPO is subscribed 304.06 times on September 21, 2026 6:54:03 PM (Day 3). The public issue subscribed 313.17 times in the individual investors category, 184.55 times in the QIB category, and 441.66 times in the NII category. Check Day by Day Subscription Details (Live Status)
Reload
Total Applications: 1,88,895
*Market Maker portion is not included to NII/HNI.
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLM (including underwriting commission | 2.34 |
| 2 | Fees Payable to Registrar to the Offer | 0.02 |
| 3 | Fees Payable for Advertising, Marketing Expenses | 0.08 |
| 4 | Fees Payable to Regulators including Stock Exchange | 0.15 |
| 5 | Payment for Printing & Stationery, Postage, etc | 0.01 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.10 |
| 7 | Others, (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees, Underwriting fees and Miscellaneous Expenses | 3.05 |
| Total | 5.74 |
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 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.
SpectraA Technology Solutions IPO Allotment Status: Check Online
HDFC Sky · 22 Sept 2026
Spectraa Technology Solutions IPO Day 2: Subscribed 19.73x; Retail jumps to 30.92x
scanx.trade · 22 Sept 2026
SpectraA Technology Solutions IPO Day 3 Subscription Status: 304.06x
HDFC Sky · 21 Sept 2026
SpectraA Technology Solutions IPO Allotment Status, 20.03x Subscr
Univest · 21 Sept 2026
SpectraA Technology IPO Day 3 Subscription Status 21 Sep 2026
Univest · 21 Sept 2026
Spectraa Technology Solutions IPO Day 3: Subscribed 54.56x; Retail leads at 76.82x
scanx.trade · 19 Sept 2026
SpectraA Technology Solutions IPO Day 2: 19.80x Subscription
HDFC Sky · 18 Sept 2026
SpectraA Technology IPO Day 2 Subscription Status 18 Sep 2026
Univest · 18 Sept 2026
SpectraA Technology Solutions: common questions
Answered from this issue's own record.