PNN
Mumbai (Maharashtra) [India], February 11: Marushika Technology Limited is an emerging provider of excellence-driven solutions in Information Technology infrastructure, specializing in data centers and cybersecurity solutions, has announced the opening of its Initial Public Offering on February 12, 2026, with a proposed issue size of ₹26.97 Crore, and the shares are proposed to be listed on the NSE Emerge Platform.
Equity Share Allocation
* QIB - Not more than 10,87,200 Equity Shares
* NII - Not less than 3,31,200 Equity Shares
* RII - Not less than 7,70,400 Equity Shares
* Market Maker - 1,16,400 Equity Shares
The net proceeds from the IPO will be utilized towards Repayment and/or pre-payment, in part or full, of certain borrowings availed by the Company, Funding Working Capital Requirements and General Corporate Purposes.
The issue will open for public subscription on Thursday, February 12, 2026 and close on Monday, February 16, 2026.
Nexgen Financial Solution Private Limited is acting as the Book Running Lead Manager to the issue, and Skyline Financial Services Private Limited is the Registrar to the issue.
* Fresh Issue Size - 23,05,200 Equity Shares of ₹ 10 each
* Issue Size - ₹ 26.97 Crore
* Issue Price - ₹ 111 - ₹ 117 Per Share
* Lot Size - 1,200 Equity Shares
Ms. Monicca Agarwaal, Managing Director of Marushika Technology Limited said:
"The opening of our IPO marks an important milestone in Marushika Technology Limited's growth journey. Over the last 15+ years, we have built strong capabilities across IT & telecom infrastructure, data centre solutions, cybersecurity, smart technologies, and defence auto-tech, with a primary focus on serving government, PSU, and institutional clients.
Our business has evolved alongside India's digital and infrastructure transformation, enabling us to execute complex, mission-critical projects with a strong emphasis on quality, reliability, and timely delivery. We have consistently expanded our solution portfolio, strengthened our OEM partnerships, and deepened relationships with key customers across sectors such as defence, railways, urban infrastructure, and public safety.
The proceeds from the issue will help us strengthen our balance sheet, support working capital requirements, and position the Company for the next phase of growth. With increasing digital transformation, cybersecurity needs, and government-led infrastructure initiatives, we believe Marushika is well placed to capitalize on emerging opportunities while continuing to deliver reliable and technology-driven solutions to our clients."
Mr. Sanjeev Gupta, Co-Founder & Managing Director of Nexgen Financial Solution Private Limited said,
"As we step into the IPO journey with Marushika Technology Limited, we see a company that is well positioned to benefit from India's accelerating digital transformation, increasing investments in data centres, rising cybersecurity requirements, and government-led smart infrastructure initiatives.
Marushika Technology has built a diversified business model with capabilities spanning IT & telecom infrastructure, smart solutions, and defence auto-tech, supported by strong execution capabilities and long-standing relationships with government and PSU clients.
The Company's consistent financial performance, healthy return ratios, and robust order pipeline reflect a scalable operating platform. We believe this IPO will support Marushika's plans to strengthen its balance sheet, meet working capital requirements, and pursue sustainable long-term growth while creating value for all stakeholders."
About The Company:
Incorporated in 2010, Marushika Technology Limited is a New Delhi-based technology solutions company providing end-to-end IT & telecom infrastructure, data centre solutions, cybersecurity services, smart solutions, and defence auto-tech services. The Company operates through B2B and B2G models, with a strong focus on government departments, PSUs, and large institutional clients.
Marushika's offerings include:
* Data centre infrastructure and power management solutions
* Cybersecurity and data protection services
* Surveillance, video walls, networking, and IP-based telephony systems
* Smart city solutions including access control, parking, and waste management
* Defence auto-tech services such as refurbishment, maintenance, and reverse engineering of military vehicles
The Company serves reputed clients including BEL, DMRC, Railtel, Indian Railways, Delhi Police, Indian Air Force, and other government agencies, with a presence across 17 states in India.
In FY25, the company recorded a Revenue of ₹ 8,524.87 Lakhs, EBITDA of ₹ 1,047.26 Lakhs, and PAT of ₹ 628.64 Lakhs.
In Sep'25, the company recorded a Revenue of ₹ 4,863.94 Lakhs, EBITDA of ₹ 563.53 Lakhs, and PAT of ₹ 313.83 Lakhs.
Disclaimer:
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
For Further Information, Please Contact:
Milind Apte - Director
AKMIL Strategic Advisors Private Limited
milind@akmiladvisors.com
Mo. - 98209 41925
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