Merritronix IPO Fully Subscribed On Day 1 With Strong Grey Market Premium Buzz

Subscription Status

On Day 1, the Merritronix IPO was subscribed 3.91 times overall, with strong participation from retail investors and non-institutional investors. The IPO will remain open until June 3, 2026, with allotment scheduled for June 4 and listing expected on June 8, 2026 on the BSE SME platform.

Grey Market Premium

The IPO’s GMP ranged between ₹70 and ₹93 per share on June 1. Against the upper price band of ₹149, this translates to an expected listing price of ₹219–242, offering 47–62% listing gains. Analysts note that GMP has been trending upward, reflecting strong investor sentiment.

Company Overview

Merritronix Limited, incorporated in 1988 and headquartered in Hyderabad, is an Electronics Systems Design and Manufacturing (ESDM) company. It specializes in mission-critical electronic assemblies for defence, aerospace, telecom, and industrial electronics. In FY2026, 97.81% of its revenue came from defence and aerospace, aligning with India’s Atmanirbhar Bharat indigenisation push.

IPO Details

• Issue Size: ₹70.03 crore (100% fresh issue of 47 lakh shares)
• Price Band: ₹141–149 per share
• Lot Size: 1,000 shares (minimum 2 lots for retail investors)
• Minimum Retail Investment: ₹2,98,000
• Anchor Investment: ₹19.91 crore raised on May 29, 2026
• Lead Manager: GYR Capital Advisors Pvt. Ltd.
• Registrar: Bigshare Services Pvt. Ltd.

Investor Highlights

• IPO subscribed 3.91 times on Day 1
• GMP ₹70–93 signals strong listing gains potential
• ₹70.03 crore fresh issue with anchor support of ₹19.91 crore
• Defence-focused ESDM company with 97.81% revenue from aerospace and defence
• Listing scheduled for June 8, 2026, on BSE SME

Sources: Mint, Univest, Chittorgarh