Subscription & GMP
Subscription is live from NSE + BSE bid data. GMP is an unofficial market indicator.
Snapshot & Timeline
Verified against RHP, cross-checked on NSE & BSE.
| Issue Structure | |
|---|---|
| Type | SME · Book Built |
| Face Value | ₹10 |
| Fresh Issue | ₹38.42 Cr |
| Offer for Sale | ₹4.11 Cr |
| Market Cap | ≈ ₹157.50 Cr |
| Reservation & Parties | |
|---|---|
| QIB (incl. anchor) | 19% |
| NII / HNI | 14.26% |
| Retail | 33.26% |
| Lead Managers | Indcap Advisors Pvt. Ltd. |
| Registrar | Maashitla Securities Pvt. Ltd. |
FY24–FY26 Trend (₹ Cr)
Restated consolidated figures from the RHP.
| Metric | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Revenue | 89.68 | 75.53 | 103.05 | +36% |
| PAT | 2.00 | 4.91 | 11.56 | +135% |
| PAT Margin | 2.2% | 6.5% | 11.2% | — |
Is the price fair?
From the RHP "Basis for Issue Price". Price (P/E) beside quality (ROE).
| Company | P/E | ROE | Net Margin |
|---|---|---|---|
| SpectraA Technology Solutions | ≈13.6x | 60.95% | 11.2% |
Who runs it & where the money goes
| Promoters | |
|---|---|
| Promoters | A. L. Arun Kumar, Sailaja Arun Kumar, Praveen Kumar Appukuttan Nair Leela, Divya Praveen |
| Pre-issue | 96.04% |
| Post-issue | 70% |
| Objects of Issue | |
|---|---|
| Capex — Jaipur manufacturing facility | ₹11.00 |
| Repayment of term loans | ₹6.48 |
| Working capital requirements | ₹9.50 |
| General corporate purposes | Balance |
Strengths & Risks
The part most sites skip — both sides, from the RHP.
- Strong profit growth — PAT ₹2.0 → ₹4.9 → ₹11.6 Cr (+135% in FY26), with margins expanding to ~11%.
- Exceptional returns — ROE ~61%, RoNW ~47%, ROCE ~38%.
- Cheap valuation — ~13.6x post-issue earnings for that growth and those returns.
- Extraordinary demand — final-day subscription ~303× overall, with a healthy grey market (~31–38%).
- Diversified, export-oriented plant-engineering across pharma, dairy and beverage sectors in South Asia and Africa.
- Lumpy, project-driven revenue — sales fell in FY25 before rebounding; order timing makes any single year unrepresentative.
- Small scale and SME liquidity — a ~₹2.83 lakh minimum ticket and thin post-listing trading.
- Customer/order concentration risk typical of EPC-style businesses; working-capital intensive.
- Very high subscription can mean tiny allotment and sharp post-listing volatility once demand normalises.
- New listing with a short, uneven financial history; grey market is unofficial — confirm final figures in the RHP.
Did the signal hold up? Updates after Sep 24
We close the loop — issue vs listing price, listing-day gain, and whether the call was right.
SpectraA Technology Solutions IPO FAQs
Common questions about the SpectraA Technology Solutions IPO — GMP, price, dates, allotment and more.
What is SpectraA Technology Solutions IPO GMP today?
As of the latest update (Subscription: Final · Sep 21, 06:55 PM IST · GMP: Sep 22, 11:15 AM IST), the grey market premium (GMP) for SpectraA Technology Solutions IPO is around ₹67 (unofficial), implying an estimated listing price of about ≈ ₹185. GMP is unofficial & indicative
What is SpectraA Technology Solutions IPO price band?
The price band is ₹112 – ₹118 per share (face value ₹10).
What is SpectraA Technology Solutions IPO lot size?
The lot size is 2,400 (2 lots) · min ₹2,83,200 per application.
When is SpectraA Technology Solutions IPO allotment?
The tentative basis-of-allotment date is Sep 22.
When will SpectraA Technology Solutions IPO be listed?
The tentative listing date is Sep 24, 2026 on NSE SME.
What is the expected listing price of SpectraA Technology Solutions IPO?
Based on the current grey market premium of ₹67 (unofficial), the estimated listing price is around ≈ ₹185 — this is unofficial and not a guarantee of the actual listing price.
Should I apply for SpectraA Technology Solutions IPO?
Our view: Neutral · May Apply (listing-gain oriented)
In simple terms, SpectraA builds industrial plants — it designs, fabricates and installs the machinery for things like pharma, dairy and beverage-bottling factories. Its profit jumped sharply last year (to about ₹11.6 crore), it earns a very high return on its money (~61%), and at roughly 13–14 times earnings the shares are not expensive. Investors have piled in — the issue is closed subscribed about 304 times over — and the grey market points to a strong listing pop (~57%). The main things to weigh are that this kind of project-and-order business is lumpy (revenue actually dipped the year before it rebounded), and it is still a small company. On balance an attractive, cheaply-priced fast-grower with very strong demand — a 'may apply', especially for investors focused on listing gains, while keeping the lumpy-order risk in mind. (Research, not investment advice; confirm final figures in the RHP.) This is IPOSignal's research view, not investment advice.
What is SpectraA Technology Solutions IPO subscription status?
As of Final · Sep 21, 06:55 PM IST, the issue was subscribed 304.1× overall — NII / HNI 441.7×, Retail 313.2×, QIB 184.6×.
Who is the registrar of SpectraA Technology Solutions IPO?
The registrar is Maashitla Securities Pvt. Ltd.; the lead manager(s): Indcap Advisors Pvt. Ltd..