Marushika Technology IPO: Issue booked 71% so far on Day 2; check GMP, issue details, more

The Marushika Technology IPO started on Thursday, February 12 and is set to end on Monday, February 16. Marushika Technology IPO price band has been established at ₹111 to ₹117 per equity share, each having a face value of ₹10. Investors are allowed to place bids for a minimum of 1,200 equity shares, with additional shares to be bid in multiples of 1,200.

Marushika Technology Limited specialises in the distribution of IT and telecommunications infrastructure products and solutions for both enterprise and government customers. The firm offers a comprehensive range of IT products and services, which include data center establishment, networking, telecom systems, surveillance, cybersecurity, and power management solutions.

Additionally, it provides installation, maintenance, and technical consulting services, along with advanced technology solutions such as access control, smart parking, lighting systems, and waste management services.

Marushika mainly operates under a Business-to-Business (B2B) and Business-to-Government (B2G) framework, providing services to clients in the public sector and institutional domains.

Its government clients comprise Bharat Electronics Limited, Central Electronics Limited, Delhi Metro Rail Corporation, and the National Security Guard. By engaging with these organizations, the company aids in crucial infrastructure and digital transformation projects across various sectors.

Marushika Technology IPO subscription status

Marushika Technology IPO subscription status is 71% on day 2 so far, as per chittorgarh.com. The retail portion was subscribed 1.02x, and NII portion was booked 92%. The qualified institutional buyers portion is yet to receive bids.

The company has received bids for 10,86,000 shares against 15,37,200 shares on offer on the second bidding day, at 15:34 IST, according to data on chittorgarh.com.

Marushika Technology IPO subscription status was 28% on day 1.

Marushika Technology IPO details

The company based in Noida is aiming to raise ₹26.97 crore through a public offering of 23.05 lakh shares, which consists entirely of new shares. The company plans to allocate ₹5 crore of the IPO proceeds to pay down debt, ₹14.68 crore to meet working capital needs, and the remaining funds for general corporate activities.

Nexgen Financial Solution is serving as the sole book running lead manager for the IPO of Marushika Technology. Skyline Financial Services Pvt. Ltd. will act as the registrar for this issue. The Market Maker for the company is Nikunj Stock Brokers Ltd.

Marushika Technology IPO GMP today

Marushika Technology IPO GMP today was ₹0, which meant shares were trading at their issue price of ₹117 with no premium or discount in the grey market, according to investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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