Merritronix IPO GMP, Date, Price Band & Review

Merritronix IPO Details

Merritronix IPO is a 100% book-built issue of 47 lakh equity shares worth up to ₹70.03 crore, entirely a fresh issue of shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on March 26, 2026.

The price band is set at ₹141 to ₹149 per share and the lot size for an application is 1,000 shares. The minimum amount of investment required by an individual investor (retail investor) is ₹2,98,000 (2,000 shares). The IPO will be open for subscription from June 1 to 3, 2026, on the BSE SME platform, with a tentative listing date fixed as June 8, 2026. The book-running lead manager of the issue is GYR Capital Advisors Pvt. Ltd., while the registrar to the issue is BigShare Services Pvt. Ltd.

Merritronix IPO Date & Timeline

Merritronix IPO is officially set to open for subscription on Jun 1, 2026 and will close on Jun 3, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on March 26, 2026 and has now finalized its schedule following SEBI approval. Once the subscription window allotment is expected on Jun 4, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on Jun 5, 2026. Finally, Merritronix Ltd.'s shares are tentatively scheduled to list on the stock exchanges on Jun 8, 2026.

Merritronix IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Merritronix IPO GMP is currently trading at ₹73, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹222, which is 48.99% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Merritronix Ltd. was incorporated as a private limited entity on June 15, 1988, in Andhra Pradesh and then on February 07, 2025, the company transformed into a public limited company to proceed with its public listing procedure, headquartered in Hyderabad, Telangana.

With over 3 decades (30+ years) of operations in the market, the company has evolved from a local to a multi-capability engineering manufacturing enterprise, primarily engaged in B2B electronic manufacturing services and delivery of finished electronic products with the quality standards required by India's strategic defence and aerospace programmes. As of CY25, the company has an installed capacity of 17.85 lakh production units per annum.

Operations & Product Range

Merritronix Ltd. operates as an end-to-end e-manufacturing services partner, focusing primarily on high-reliability, multi-layer printed circuit board (PCB) assemblies, sub-assemblies and fully integrated box-build products. The operating model spans product design support, component sourcing, prototyping, volume assembly and automated testing. The firm's core B2B customer profile consists of tier-one industrial original equipment manufacturers, medical device brands, automotive component suppliers and telecommunication hardware providers.

Facilities & Capacity

The operational unit of Merritronix Ltd. is in Hyderabad, Telangana, inside the Kushaiguda industrial zone, localising manufacturing configuration houses modern high-speed surface mount technology placement lines, automated optical inspection equipment, wave soldering systems and dedicated environmental testing chambers. As of CY25, the manufacturing facility of the company has an installed capacity of 17.85 lakh production units per annum and also has SMT capabilities to support the usage of advanced and miniaturised components required in defence and aerospace.

Brands & Market Presence

Merritronix Ltd. operates its activities under the name of "MERRITRONIX," which marks an unavoidable image among domestic B2B electronics manufacturing circles. Within the Indian industrial landscape, serving corporate customers who require specialised compliance certifications and strict adherence to international electronics manufacturing standards. The firm maintains long-term engineering relationships with its B2B clients, frequently collaborating on multi-year product life cycles rather than relying on transactional, single-order sales.

Revenue Streams & Business Model

The primary revenue source of Merritronix Ltd. is direct contract manufacturing and sale of electronic assemblies, box-build systems and associated engineering design services to corporate clients. With an order-driven business model where revenue is recognized upon the successful delivery of certified electronic hardware. The company has recorded steady top-line growth in recent fiscal years.

For FY25, the revenue from operations was at ₹113.56 crore with an EBITDA of ₹15.18 crore. Meanwhile, the operational business model of the company relies heavily on structured material procurement and supply chain relationships, since they operate as a B2B electronic systems design and manufacturing services provider with limited brand recognition.

Management & Shareholding

The promoters group of Merritronix Ltd. includes Mr. Dovari Yesudas, Mr. Dovari Amarnath, Ms. Vanaja D., Mr. Darsy Kethan Chandra and Mr. Dovari Thaman. Before the IPO, the promoters held an 85.17% stake in the company, but after the IPO, the promoters’ shareholding will not be diluted, as the offering includes an entirely fresh issue of shares.

Board & Key Management

The leadership of Merritronix Ltd. is led by a team of experts with many years of experience. Mr. Dovari Yesudas serves as the Chairman and gives strategic direction to the firm. The daily operations are managed by Mr. Dovari Amarnath, the Managing Director, along with the Whole-Time Director. To ensure good governance, the board includes Independent Directors Mr. Ravi Bandreddi and Ms. Sridevi Madati for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.