Marushika Technology Limited IPO Review
Neutral111-111 · SME
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Analyst Verdict
Marushika Technology Limited IPO
Neutral
IPO at a Glance
Price Band
111-111
Issue Size
27cr
Min. Investment
₹1,33,200
Opens
2026-02-10
Closes
2026-02-14
Listing
2026-02-17
Category
SME
Key Strengths
✓Established operations since 2010 with experience in IT and telecom infrastructure.
✓Diversified offerings across IT infrastructure, smart solutions, and defence auto-tech.
✓Strong presence in government and PSU-led projects.
✓Integrated service capability covering supply, installation, and maintenance.
✓Long-standing relationships with leading OEM partners.
Key Risks
⚠High dependence on government and government-backed projects for revenue.
⚠Revenue concentration among a limited number of customers.
⚠Heavy reliance on OEMs for product supply and pricing stability.
⚠Geographic concentration with a major share of revenue from Delhi and Uttar Pradesh.
⚠Working capital–intensive business model impacting cash flows.
Frequently Asked Questions
Should I apply for Marushika Technology Limited IPO?
Based on our analysis, our rating for Marushika Technology Limited IPO is: Neutral. Review the full analysis including strengths, risks, and financials on CheckIPO before making a decision.
What are the key risks of Marushika Technology Limited IPO?
High dependence on government and government-backed projects for revenue. Revenue concentration among a limited number of customers. Heavy reliance on OEMs for product supply and pricing stability.
What are the strengths of Marushika Technology Limited IPO?
Established operations since 2010 with experience in IT and telecom infrastructure. Diversified offerings across IT infrastructure, smart solutions, and defence auto-tech. Strong presence in government and PSU-led projects.
What is the price band of Marushika Technology Limited IPO?
The price band for Marushika Technology Limited IPO is 111-111. The IPO has closed.
Full Analysis Available
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