SpectraA Technology Solutions IPO Sees Heavy Demand on Final Day
SpectraA Technology Solutions IPO is scheduled to close today, September 21, 2026, after opening on September 17. The NSE SME issue has a price band of ₹112 to ₹118 per share and is raising around ₹42.52 crore through a combination of fresh issue and offer for sale. The shares are scheduled to list on the NSE SME platform on September 24.
| Particular | Details |
|---|---|
| IPO Name | SpectraA Technology Solutions IPO |
| IPO Dates | Sep 17–21, 2026 |
| Price Band | ₹112–₹118 |
| Issue Size | ₹42.52 Cr |
| Issue Type | Fresh Issue + OFS |
| Lot Size | 1,200 Shares |
| Minimum Retail Bid | 2 Lots |
| Minimum Investment | ₹2,83,200 |
| Listing Platform | NSE SME |
| Allotment | Sep 22, 2026 |
| Refund | Sep 23, 2026 |
| Listing | Sep 24, 2026 |
| Lead Manager | Indcap Advisors |
| Registrar | Maashitla Securities |
SpectraA Technology Solutions IPO GMP Today
The latest available grey-market update shows a GMP of ₹45 per share against the upper IPO price of ₹118. At this level, the unofficial indication comes to around ₹163 per share. The GMP was ₹50 earlier in the IPO period before moving to ₹45. GMP is unofficial and unregulated and can change before listing.
| GMP Indicator | Latest Update |
|---|---|
| Current GMP | ₹45 |
| Upper Price Band | ₹118 |
| Indicative Price | ₹163 |
| Unofficial Premium | ~38.14% |
SpectraA Technology Solutions Subscription Status
Demand has increased sharply during the IPO period. The latest exchange-linked figures available for September 21 show the issue subscribed 24.61 times overall, with the NII portion at 60.71 times and the retail portion at 33.49 times. The QIB portion stood at 0.02 times in the latest reported snapshot.
| Category | Subscription |
|---|---|
| QIB | 0.02x |
| NII | 60.71x |
| Retail | 33.49x |
| Overall | 24.61x |
The figures can continue to change during the final bidding session until the issue closes.
SpectraA Technology Solutions Business Overview
SpectraA Technology Solutions operates in the process-plant engineering and industrial equipment segment. The company designs, fabricates, installs and commissions greenfield and brownfield projects for breweries, distilleries, food and beverage companies, malt and spirit businesses, extraction plants, FMCG companies and pharmaceutical customers.
Its business follows a turnkey model covering engineering design, equipment fabrication, procurement, installation and commissioning. Brewery equipment represented around 68.14% of FY2026 revenue from operations, while distillery equipment contributed about 11.66%.
SpectraA Technology Solutions Order Book Update
The company had an order book of approximately ₹81.29 crore as of August 25, 2026, excluding GST. This provides an indication of projects available for execution, although the timing of revenue recognition depends on project progress and customer milestones.
The company has manufacturing facilities at Malur in Karnataka and Chomu near Jaipur in Rajasthan. The Jaipur facility is also part of the company's expansion plan under the IPO.
SpectraA Technology Solutions Financial Performance
The company recorded significant improvement in profitability during FY2026. Revenue from operations increased to approximately ₹101.16 crore, compared with ₹75.16 crore in FY2025. PAT rose to ₹11.56 crore from ₹4.91 crore during the same period.
| Financial Year | Revenue | PAT |
|---|---|---|
| FY2024 | ₹88.96 Cr | ₹2.00 Cr |
| FY2025 | ₹75.16 Cr | ₹4.91 Cr |
| FY2026 | ₹101.16 Cr | ₹11.56 Cr |
FY2026 EBITDA stood at around ₹19.26 crore, giving an EBITDA margin of approximately 19.04%. The company reported net worth of ₹24.81 crore and total debt of ₹26.96 crore at the end of FY2026.
SpectraA Technology Solutions Revenue Mix
The company's revenue comes from both domestic and export markets. In FY2026, domestic revenue accounted for approximately 70.62%, while exports contributed around 29.38%.
Export revenue was approximately ₹29.72 crore, with Germany and Nepal contributing notable portions of the export business. Repeat customers contributed about 50.07% of FY2026 revenue, while new customers contributed approximately 49.9%.
SpectraA Technology Solutions IPO Fund Utilisation
The fresh issue proceeds are intended to support capacity expansion, debt reduction and working capital requirements.
| IPO Objective | Amount |
|---|---|
| Jaipur Manufacturing Facility Capex | ₹11.00 Cr |
| Term Loan Repayment/Prepayment | ₹6.48 Cr |
| Working Capital | ₹9.50 Cr |
| General Corporate Purposes | Balance |
The proposed Jaipur expansion is expected to strengthen the company's manufacturing and fabrication capabilities, while part of the proceeds will be used to reduce term-loan obligations and support the working-capital cycle.
SpectraA Technology Solutions IPO Key Points
SpectraA Technology Solutions has a project-based B2B business model with exposure to several industrial sectors. Its ability to execute customised projects, manufacture equipment and provide installation and commissioning services forms an important part of its operations.
The company also has international exposure, with exports accounting for nearly 29.38% of FY2026 revenue. The presence of repeat customers and an order book provides additional operating context, although project execution and future order inflows remain important for sustaining growth.
SpectraA Technology Solutions IPO Risks
The company's project-oriented business can be affected by delays in customer approvals, project execution, procurement and installation. Working-capital requirements can also increase when receivables remain outstanding for longer periods.
Other factors include dependence on the brewery and distillery equipment segments, customer concentration, competition, raw-material and component costs, export-market exposure, project delays and the company's debt levels.
As an SME-listed company, investors should also consider potential differences in trading liquidity and price volatility compared with mainboard-listed companies.
SpectraA Technology Solutions IPO Important Dates
The IPO closes on September 21, 2026. The basis of allotment is scheduled for September 22, followed by refunds and demat credit on September 23. The shares are expected to list on September 24 on the NSE SME platform.
| IPO Event | Date |
|---|---|
| IPO Closing | Sep 21, 2026 |
| Allotment | Sep 22, 2026 |
| Refund | Sep 23, 2026 |
| Demat Credit | Sep 23, 2026 |
| Listing | Sep 24, 2026 |
SpectraA Technology Solutions IPO Latest News Summary
SpectraA Technology Solutions IPO is closing today after recording strong subscription demand. The latest reported overall subscription stands at 24.61 times, while the grey-market premium is reported at ₹45. The company has also shown a substantial improvement in FY2026 revenue and profit, supported by its process-engineering and industrial equipment business.
The IPO proceeds are primarily directed toward the Jaipur manufacturing facility, term-loan repayment and working capital. The company's order book, export contribution and recent financial growth are key areas to monitor alongside project execution, customer concentration, debt and working-capital requirements.
Disclaimer: IPO GMP is an unofficial and unregulated market indicator and can change at any time. Subscription figures are subject to updates during the bidding period. This article is for informational purposes only and should not be considered investment advice.
Loading comments...