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    SpectraA Technology Solutions IPO

    Updated 15 Sept 2026, 8:00 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Individual investors (IND))

    ₹2,83,200

    2 lots · 2,400 shares at the upper price band

    Price band

    ₹118

    Latest GMP

    ₹44

    +37.3% of the ₹118 upper band

    Est. listing price

    ₹162

    Issue size

    ₹40.37 Cr

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    ObservedGMPEst. listing price
    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
    ₹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
    ₹162
    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
    96.04% before · 70% after
    Lead managers
    Indcap Advisors Pvt.Ltd.

    Full issue details

    Details as published for this issue, read 15 Sept 2026, 2:28 pm. Verify against the RHP before applying.

    IPO Details

    IPO Date17 to 21 Sep, 2026
    Listing DateThu, Sep 24, 2026 T
    Face Value₹ 10 per share
    Price Band₹112 to ₹118
    Lot Size1,200 Shares
    Sale TypeFresh capital cum OFS
    Issue TypeBookbuilding IPO
    Listing AtNSE SME
    Total Issue Size36,03,600 shares (agg. up to ₹ 43 Cr)
    Reserved for Market Maker1,82,400 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 Sale3,48,000 shares of ₹ 10 (agg. up to ₹ 4 Cr)
    Net Offered to Public34,21,200 shares (agg. up to ₹ 40 Cr)
    Share Holding Pre Issue1,00,91,646 shares
    Share Holding Post Issue1,33,47,246 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%
    Issue Reservation: Share of the issue reserved for each investor category. Figures as published in the table below.
    Investor CategoryShares% of Net Issue% of Total Issue
    QIB17,08,80049.95%47.42%
    - Anchor Investor10,24,80028.44%
    - QIB (Ex. Anchor)6,84,00018.98%
    NII (HNI)5,14,80015.05%14.29%
    - bNII > ₹10L3,43,2009.52%
    - sNII < ₹10L1,71,6004.76%
    Retail11,97,60035.01%33.23%
    Firm Reservations
    Market Maker1,82,4005.06%
    Total36,03,600100.00%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

    Individual investors (IND) (Min)₹2,83,200
    Individual investors (IND) (Max)₹2,83,200
    S-HNI (Min)₹4,24,800
    S-HNI (Max)₹9,91,200
    B-HNI (Min)₹11,32,800
    IPO Lot Size: What an application costs at the upper price band, by category. Figures as published in the table below.
    ApplicationLotsSharesAmount
    Individual investors (IND) (Min)22400₹2,83,200
    Individual investors (IND) (Max)22400₹2,83,200
    S-HNI (Min)33600₹4,24,800
    S-HNI (Max)78400₹9,91,200
    B-HNI (Min)89600₹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 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

    31 Mar 202489.68
    31 Mar 202575.53
    31 Mar 2026103.05

    Profit After Tax

    31 Mar 20242.00
    31 Mar 20254.91
    31 Mar 202611.56

    EBITDA

    31 Mar 20244.48
    31 Mar 202510.13
    31 Mar 202619.26

    NET Worth

    31 Mar 20248.18
    31 Mar 202513.12
    31 Mar 202624.81
    Company Financials (Restated Consolidated): Each line is scaled to its own largest period, ₹ crore - compare periods within a line, not one line against another. Figures as published in the table below.
    Period Ended31 Mar 202631 Mar 202531 Mar 2024
    Assets106.29100.0066.64
    Total Income103.0575.5389.68
    Profit After Tax11.564.912.00
    EBITDA19.2610.134.48
    NET Worth24.8113.128.18
    Reserves and Surplus14.7212.007.06
    Total Borrowing26.9617.2114.19
    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

    Capital Expenditure at Jaipur manufacturing facility11.00
    Repayment of Term Loans availed by the Company6.48
    Working Capital requirements9.50
    IPO Objects of the Issue: What the proceeds are earmarked for (₹ Cr.). Figures as published in the table below.
    #Issue ObjectsEst Amt (₹ Cr.)
    1Capital Expenditure at Jaipur manufacturing facility11.00
    2Repayment of Term Loans availed by the Company6.48
    3Working Capital requirements9.50
    4General Corporate Purposes
    Total26.98

    The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

    Key Performance Indicator (KPI)

    KPIMar 31, 2026
    ROE60.95%
    ROCE37.61%
    Debt/Equity1.09
    RoNW46.59%
    PAT Margin11.42%
    EBITDA Margin19.04%
    NAV24.58
    Price to Book Value4.80

    Check IPO Peer Comparison here.

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)11.458.66
    P/E (x)10.3113.63
    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%
    Shareholding Structure: Who holds the company before and after the issue. Figures as published in the table below.
    CategoryPre IPOPost IPO
    Promoter and Promoter Group96.04%70%
    Public3.96%30.00%
    Total100%100%

    Company Promoters: A L Arun Kumar, Sailaja Arun Kumar, Praveen Kumar Appukuttan Nair Leela and Divya Praveen.

    Offer For Sale - Selling Shareholders

    NameCategoryNo. of Shares OfferedAmount (₹ cr.)
    A.L.Arun KumarPromoter1,74,0002.05
    Sailaja Arun KumarPromoter1,74,0002.05
    Total3,48,0004.11

    SpectraA Technology Solutions IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers0000
    Members0000

    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.