SpectraA Technology Solutions IPO
Updated 15 Sept 2026, 8:00 pm.
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.
| Observed | GMP | Est. 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.
Offer documents & links
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 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) 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 | 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 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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View More »
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 | — |
| Total | 26.98 |
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 | 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 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.