MARC Technocrats IPO Details & GMP
MARC Technocrats Ltd. is launching a Book-Built SME IPO of Rs. 42.59 crore, comprising a fresh issue of 0.37 crore equity shares aggregating to Rs. 34.13 crore and an Offer for Sale of 0.09 crore shares aggregating to Rs. 8.46 crore.
The IPO opens for subscription on Wednesday, December 17, 2025 and closes on Friday, December 19, 2025. The allotment is expected on December 22, 2025, with tentative listing scheduled on December 24, 2025 on NSE SME.
The price band is fixed at Rs. 88 to Rs. 93 per share. The lot size is 1,200 shares. Since the lot value exceeds Rs. 2.50 lakh, minimum 2 lots (2,400 shares) are mandatory for retail investors, translating into a minimum investment of Rs. 2,23,200 at the upper price band.
Lead Manager: Narnolia Financial Services Ltd.
Registrar: Maashitla Securities Pvt. Ltd.
Market Maker: Giriraj Stock Broking Pvt. Ltd.
đ Last Update: 14 December 2025, 6.00 AM
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IPO Details
| Particulars | Details |
|---|---|
| IPO Dates | Dec 17, 2025 â Dec 19, 2025 |
| Listing | NSE SME |
| Face Value | Rs. 10 per share |
| Price Band | Rs. 88 to Rs. 93 |
| Lot Size | 1,200 shares |
| Issue Type | Book Building IPO |
| Issue Size | 45,79,200 shares (Rs. 42.59 Cr) |
| Fresh Issue | 34,30,800 shares (Rs. 31.91 Cr) |
| Offer for Sale | 9,09,600 shares (Rs. 8.46 Cr) |
| Market Maker Portion | 2,38,800 shares (Rs. 2.22 Cr) |
| Net Offer to Public | 43,40,400 shares (Rs. 40.37 Cr) |
| Pre-Issue Shares | 1,36,43,783 |
| Post-Issue Shares | 1,73,13,383 |
| Market Cap (Pre-IPO) | Rs. 161.01 Cr |
IPO Timeline (Tentative)
| Event | Date |
|---|---|
| IPO Open | Wed, Dec 17, 2025 |
| IPO Close | Fri, Dec 19, 2025 |
| Allotment | Mon, Dec 22, 2025 |
| Refunds | Tue, Dec 23, 2025 |
| Shares in Demat | Tue, Dec 23, 2025 |
| Listing Date | Wed, Dec 24, 2025 |
| UPI Cut-off | 5 PM, Dec 19, 2025 |
Reservation Structure
| Investor Category | Shares Offered | % |
|---|---|---|
| Market Maker | 2,38,800 | 5.21% |
| QIB | 46,800 | 1.02% |
| NII (HNI) | 21,45,600 | 46.86% |
| Retail | 21,48,000 | 46.91% |
| Total | 45,79,200 | 100% |
IPO Lot Size
| Category | Lots | Shares | Amount (Rs.) |
|---|---|---|---|
| Retail (MinâMax) | 2 | 2,400 | 2,23,200 |
| S-HNI (Min) | 3 | 3,600 | 3,34,800 |
| S-HNI (Max) | 8 | 9,600 | 8,92,800 |
| B-HNI (Min) | 9 | 10,800 | 10,04,400 |
Company Financials (Rs. in Crore)
| Period | 30-Sep-25 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Assets | 42.11 | 35.14 | 26.46 | 21.52 |
| Total Income | 32.64 | 48.56 | 26.94 | 20.57 |
| PAT | 5.76 | 7.48 | 3.45 | 2.64 |
| EBITDA | 7.77 | 10.36 | 3.72 | 4.80 |
| Net Worth | 33.61 | 27.85 | 20.38 | 16.92 |
| Borrowings | 0.59 | 0.94 | 1.05 | 0.60 |
Key Performance Indicators (As of FY25)
| KPI | Value |
|---|---|
| ROE | 31.00% |
| ROCE | 35.63% |
| Debt/Equity | 0.03 |
| RoNW | 31.00% |
| PAT Margin | 15.66% |
| EBITDA Margin | 21.68% |
| Price to Book Value | 4.56 |
| EPS (Pre / Post) | Rs. 5.48 / Rs. 6.65 |
| P/E (Pre / Post) | 16.97x / 13.98x |
| Promoter Holding (Pre / Post) | 99.99% / 73.55% |
About the Company
Incorporated in August 2007, MARC Technocrats Ltd. is an infrastructure consultancy company offering end-to-end services such as supervision and quality control, detailed project reports, techno-financial audits, and pre-bid advisory services.
The company primarily serves government departments and ministries including MoRTH, NHIDCL, NHAI, State PWDs, and Indian Railways, operating largely on a B2G model.
Its service bouquet covers roads & highways, railways, buildings, and water resources projects. As on November 30, 2025, the company employs 181 professionals.
Competitive Strengths
⢠Experienced promoter-led management team
⢠Services spanning concept-to-commissioning lifecycle
⢠Strong government client base across infrastructure ministries
⢠High profitability with negligible leverage
Objects of the Issue
| S. No. | Purpose | Amount (Rs. in Cr) |
|---|---|---|
| 1 | Capital expenditure for equipment & machinery | 10.25 |
| 2 | Working capital requirements | 17.50 |
| 3 | General corporate purposes | â |
Company Contact
MARC Technocrats Ltd.
[Address as per RHP]
Lead ManagerÂ
Narnolia Financial Services Ltd.
Registrar to the Issue
Maashitla Securities Pvt. Ltd.
đ +91-11-45121795-96
â investor.ipo@maashitla.com
đ https://maashitla.com/allotment-status/public-issues
Chanakya IPO Short ReviewÂ
MARC Technocrats has demonstrated strong revenue and profit growth, with ROE and ROCE above 30% and an exceptionally low debt profile. The B2G infrastructure consultancy model offers revenue visibility but remains dependent on government spending cycles.
Valuations at 13.98x post-issue P/E appear reasonable for a high-margin, asset-light SME infrastructure services player.
Chanakya View: Suitable for medium-term investors with moderate risk appetite. Listing gains will depend on subscription traction and SME market sentiment.
Quicklinks
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Disclaimer
This coverage is for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums or recommend investments based on GMP data. Please consult your SEBI-registered investment advisor.
