SpectraA Technology Solutions IPO GMP, Date, Price Band & Review

SpectraA Technology Solutions IPO Details

SpectraA Technology Solutions IPO is a book-built SME issue of ₹42.52 crore, comprising a fresh issue of ₹38.42 crore and an offer for sale of ₹4.11 crore. The issue consists of 36.03 lakh equity shares of a face value of ₹10 each. The equity shares are proposed to be listed on the NSE SME platform.

The price band of the issue is set at ₹112–₹118 per share and the lot size for an application is 1,200 shares. The minimum amount of investment required by an individual investor is ₹1,41,600 for one lot of 1,200 shares at the upper price band. The IPO will be open for subscription from September 17 to September 21, 2026, with a tentative listing date fixed as September 24, 2026, on the NSE SME platform.

Indcap Advisors Private Limited is the book-running lead manager and Maashitla Securities Private Limited is the registrar to the issue.

SpectraA Technology Solutions IPO Date & Timeline

The SpectraA Technology Solutions IPO is officially set to open for subscription on September 17, 2026 and will close on September 21, 2026. The company has filed its offer documents and announced the public-issue terms for its proposed NSE SME listing.

Once the subscription window closes, the basis of allotment is expected to be finalised on September 22, 2026. Following this, refunds are expected to be initiated and equity shares credited to successful investors’ demat accounts on September 23, 2026. Finally, shares of SpectraA Technology Solutions Limited are tentatively scheduled to list on the NSE SME platform on September 24, 2026.

Company Background

SpectraA Technology Solutions Limited was incorporated on January 20, 2009, as SpectraA Technology Solutions Private Limited. The company was converted into a public limited company on February 1, 2021. Its registered office is located at 17/7, Ali Asker Road, Cunningham Road, Bengaluru, Karnataka.

The company is a project and process-engineering business engaged in designing, fabricating, installing, commissioning and decommissioning greenfield and brownfield process plants. It has a strong focus on brewery, distillery and malt-spirit equipment, while also undertaking projects for food and beverages, extraction plants, FMCG and pharmaceutical customers.

SpectraA Technology Solutions operates a turnkey “design-to-handover” model. It undertakes process design, equipment fabrication, installation, commissioning and project-delivery activities. The company also undertakes in-house fabrication of key equipment, enabling control over quality, engineering know-how and project execution.

Operations & Product Range

SpectraA Technology Solutions Limited is engaged in process-plant engineering and turnkey project execution. The company designs, fabricates, installs, commissions and, where required, decommissions process plants for greenfield and brownfield projects.

Its principal offerings include brewery equipment, distillery and malt-spirit equipment, food and beverage processing equipment, extraction-plant solutions, FMCG-related process equipment and pharmaceutical-process plant solutions. The company provides project-specific engineering based on customer requirements and site conditions.

The company follows a “design-to-handover” model. It undertakes process and equipment design, in-house fabrication of key equipment, procurement of inputs, assembly, installation, commissioning and project handover. Revenue is therefore dependent on project order inflows, technical execution, procurement efficiency, timely installation, customer acceptance and receivable collection.

Facilities & Capacity

SpectraA Technology Solutions Limited operates two manufacturing facilities: its first factory at Malur in Karnataka, established in 2018 and its second factory at Chomu, Jaipur, Rajasthan, established in 2023. The facilities support the fabrication and delivery of equipment for domestic and export projects.

The company proposes to utilise ₹11 crore from the fresh-issue proceeds for capital expenditure at its Jaipur manufacturing facility. The proposed expenditure is intended to enhance manufacturing and fabrication capability and support the execution of future projects.

The company’s operating performance depends on skilled engineering personnel, availability of fabrication inputs and components, quality controls, project-management capability, timely installation and commissioning and customer acceptance of completed projects.

Brands & Market Presence

SpectraA Technology Solutions operates in the process-plant engineering market, serving customers in brewing, distillery, malt-spirit, food and beverages, extraction plants, FMCG and pharmaceutical sectors. Its positioning is based on turnkey project execution, in-house fabrication capability and the ability to deliver customised process-equipment solutions.

The company serves domestic customers and has also secured an international project from Bhutan. Its ability to obtain repeat orders, manage project timelines, deliver technically compliant equipment and build long-term relationships with customers is central to its market position.

Its growth will depend on customer capital expenditure, industrial expansion, demand for process-plant upgrades, project order inflows, execution track record, competitive intensity and the company’s ability to manage receivables.

Revenue Streams & Business Model

SpectraA Technology Solutions Limited generates revenue primarily from turnkey process-plant projects and the supply of process equipment. Its revenue streams include engineering design, fabrication of key equipment, supply of plant and machinery, installation, commissioning and other project-related services.

The company follows an order-driven B2B model. It receives customer enquiries or orders, develops process and equipment specifications, undertakes design and fabrication, procures required components, installs and commissions equipment and completes project handover. Its in-house fabrication of key equipment forms an important part of the business model.

Revenue and profitability can be influenced by the timing and size of customer orders, execution schedules, raw-material and component prices, customer acceptance, tender conditions, warranty and performance obligations, working-capital cycles, receivable collections and concentration of revenue among customers or sectors.

Financial Performance

SpectraA Technology Solutions Limited has reported improving revenue and profitability over the last three financial years. Revenue stood at ₹89.68 crore in FY2024, moderated to ₹75.53 crore in FY2025 and recovered to ₹103.05 crore in FY2026.

Profit after tax increased from ₹2.00 crore in FY2024 to ₹4.91 crore in FY2025 and ₹11.56 crore in FY2026. EBITDA increased from ₹4.48 crore in FY2024 to ₹10.13 crore in FY2025 and ₹19.26 crore in FY2026.

Total assets increased from ₹66.64 crore in FY2024 to ₹100.00 crore in FY2025 and ₹106.29 crore in FY2026. Net worth increased from ₹8.18 crore to ₹13.12 crore and ₹24.81 crore, respectively. Total borrowings increased from ₹14.19 crore in FY2024 to ₹17.21 crore in FY2025 and ₹26.96 crore in FY2026.

The FY2026 improvement in profitability should be viewed alongside higher borrowings and the working-capital requirements of a project-led engineering business. Investors should monitor project execution, collection of receivables, order inflows, margins and operating cash generation.

Management & Shareholding

The promoters of SpectraA Technology Solutions Limited are Mr. A. L. Arun Kumar, Mrs. Sailaja Arun Kumar, Mr. Praveen Kumar Appukuttan Nair Leela and Mrs. Divya Praveen. The IPO comprises a fresh issue of ₹38.42 crore and an offer for sale of ₹4.11 crore. The fresh issue will provide funds to the company, while the offer for sale will enable existing shareholders to sell a part of their shareholding.

Before the IPO, the promoter and promoter group hold 91.48% of the company’s pre-issue paid-up equity share capital. Following the IPO, their holding is expected to reduce to 67.62% of the post-issue equity share capital. Public and non-promoter shareholding is expected to increase from 8.52% before the issue to 32.38% after the issue.

The reduction in promoter holding will arise from the fresh issue and the offer for sale. The final RHP should be used to identify each OFS selling shareholder, the number of shares offered by each seller and individual post-issue holdings.

Board & Key Management

SpectraA Technology Solutions Limited is guided by its promoter group comprising Mr. A. L. Arun Kumar, Mrs. Sailaja Arun Kumar, Mr. Praveen Kumar Appukuttan Nair Leela and Mrs. Divya Praveen. The leadership team is responsible for strategic direction, technology and process-engineering capability, business development, customer relationships, project execution and corporate governance.

The operational management oversees engineering design, fabrication, procurement, manufacturing, installation, commissioning, quality control, finance, working-capital management, compliance and customer support. The names and designations of executive directors, independent directors, Chief Financial Officer, Company Secretary and Compliance Officer should be added directly from the final RHP before publishing this section.