The SpectraA Technology Solutions IPO opened for subscription on September 17, 2026, and will remain open until September 21, 2026. The NSE SME IPO has a price band of ₹112 to ₹118 per share and an issue size of approximately ₹42.52 crore. The issue includes a fresh issue along with an offer for sale.
| Particular | Details |
|---|---|
| IPO Name | SpectraA Technology Solutions IPO |
| IPO Dates | Sep 17–21, 2026 |
| IPO Type | NSE SME |
| Price Band | ₹112–₹118 |
| Issue Size | ₹42.52 Cr |
| Fresh Issue | ₹38.42 Cr |
| OFS | ~₹4.11 Cr |
| Lot Size | 1,200 Shares |
| Retail Minimum | 2,400 Shares |
| Min Investment | ₹2,83,200 |
| Allotment | Sep 22, 2026 |
| Refund | Sep 23, 2026 |
| Demat Credit | Sep 23, 2026 |
| Listing Date | Sep 24, 2026 |
| Lead Manager | Indcap Advisors |
| Registrar | Maashitla Securities |
SpectraA Technology Solutions IPO GMP Today
The latest reported SpectraA Technology Solutions IPO GMP is around ₹30 per share as of September 17. At the upper IPO price of ₹118, this indicates an unofficial grey-market price of around ₹148 per share. The reported GMP has moderated from ₹50 earlier in the week.
At ₹30 GMP, the indicative premium is approximately 25.42% over the upper issue price. However, GMP is unofficial and unregulated and can change quickly before listing. It should not be considered a guaranteed listing price.
SpectraA Technology Solutions IPO Subscription Status
The SpectraA Technology Solutions IPO subscription received strong bidding on its opening day. NSE-linked data reported by Capital Market showed the issue subscribed 5.17 times by the end of September 17, with 1.33 crore shares bid against 25.79 lakh shares available to the public.
Another exchange-linked update showed retail demand at more than 9 times and NII demand above 3 times by the end of Day 1, although subscription figures can differ based on reporting time and category calculation.
| Investor Category | Day 1 Subscription |
|---|---|
| QIB | 0.00x |
| NII | ~3.08x |
| Retail | ~9.62x |
| Overall | ~5.17x |
The final subscription figure will be available after bidding closes on September 21.
SpectraA Technology Solutions IPO Lot Size and Minimum Investment
The SpectraA Technology Solutions IPO lot size is 1,200 shares. Retail investors need to apply for a minimum of two lots, or 2,400 shares. At the upper price band of ₹118, the minimum retail investment is ₹2,83,200.
| Particular | Details |
|---|---|
| Lot Size | 1,200 Shares |
| Minimum Application | 2,400 Shares |
| Upper Price | ₹118 |
| Minimum Investment | ₹2,83,200 |
| S-HNI Minimum | 3,600 Shares |
The relatively high minimum application amount is an important feature of this SME IPO.
SpectraA Technology Solutions Company Business
SpectraA Technology Solutions Limited is an engineering-led original equipment manufacturer that undertakes turnkey greenfield and brownfield projects. Its business covers engineering, design, fabrication, installation, commissioning and decommissioning of process equipment and plants.
The company serves industries including breweries, distilleries, food and beverages, malt and spirits, extraction plants, FMCG and pharmaceuticals. Its manufacturing operations include facilities in Malur, Karnataka and Jaipur, Rajasthan.
Commercial brewery equipment was the company's largest business vertical in FY26, contributing around 68.14% of revenue, while distillery equipment contributed approximately 11.66%.
SpectraA Technology Solutions IPO Order Book
The company's order position is another important part of the IPO story. As of August 25, 2026, SpectraA Technology Solutions had a confirmed order book of approximately ₹81.29 crore, excluding GST.
The order book provides visibility into ongoing project execution, although converting orders into revenue depends on timely project completion, customer requirements and execution capability.
The company has also served more than 50 clients across India and selected international markets, with exports contributing approximately 29.38% of FY26 revenue.
SpectraA Technology Solutions IPO Financial Performance
SpectraA Technology Solutions reported strong improvement in revenue and profitability in FY26. Revenue from operations increased to approximately ₹101.16 crore, while profit after tax rose to around ₹11.56 crore.
| Financial Year | Revenue | PAT |
|---|---|---|
| FY24 | ₹88.96 Cr | ₹2.00 Cr |
| FY25 | ₹75.17 Cr | ₹4.91 Cr |
| FY26 | ₹101.16 Cr | ₹11.56 Cr |
FY26 net worth was approximately ₹24.81 crore, while borrowings stood at around ₹26.96 crore. FY26 EPS was reported at approximately ₹11.45.
The financial performance shows significant improvement in profitability, although investors should also consider the company's working-capital needs and project-based business model.
SpectraA Technology Solutions IPO Financial Ratios
Based on FY26 financial data, the company reported RoNW of approximately 46.59%, an EBITDA margin of around 19.04% and a PAT margin of approximately 11.42%. The reported post-issue valuation at the upper price band works out to around 10.31 times FY26 earnings based on the cited IPO calculations.
| Ratio | FY26 |
|---|---|
| EPS | ₹11.45 |
| RoNW | 46.59% |
| EBITDA Margin | 19.04% |
| PAT Margin | 11.42% |
| Debt/Equity | ~1.09x |
These ratios should be considered alongside the company's size, order execution, customer concentration and SME-market characteristics.
SpectraA Technology Solutions IPO Objects of the Issue
The fresh proceeds from the SpectraA Technology Solutions IPO are planned for several business requirements. The company proposes to spend around ₹11 crore on capital expenditure at its Jaipur manufacturing facility, ₹6.48 crore on repayment of term loans and ₹9.50 crore toward working capital.
| Use of IPO Funds | Amount |
|---|---|
| Jaipur Facility Capex | ₹11.00 Cr |
| Term Loan Repayment | ₹6.48 Cr |
| Working Capital | ₹9.50 Cr |
| GCP & Issue Expenses | ₹11.44 Cr |
| Total Fresh Issue | ₹38.42 Cr |
The planned Jaipur investment is intended to support manufacturing capacity and future project requirements.
SpectraA Technology Solutions IPO Strengths
The SpectraA Technology Solutions IPO has several notable business characteristics:
- Engineering-led turnkey project business.
- Exposure to breweries, distilleries, food, FMCG and pharmaceutical industries.
- FY26 revenue and PAT growth.
- Confirmed order book of about ₹81.29 crore as of August 25, 2026.
- International project and export exposure.
- Planned expansion of the Jaipur manufacturing facility.
- IPO proceeds include term-loan repayment and working-capital funding.
- Strong reported FY26 return and margin ratios.
These points describe the company's current business and financial position and do not guarantee future performance.
SpectraA Technology Solutions IPO Risks
The SpectraA Technology Solutions IPO also has risks that investors should examine. The company operates on a project basis, so delays in project execution, changes in customer requirements or cost overruns can affect revenue and profitability.
The business also has concentration in commercial brewery equipment, which contributed the largest share of FY26 revenue. Customer concentration and dependence on project orders can therefore influence financial performance.
The company is expanding its Jaipur facility, creating execution and capital-spending requirements. Working-capital needs and borrowings are also relevant because project businesses can require substantial funds before receiving customer payments.
As an NSE SME company, the shares may also experience different liquidity conditions compared with mainboard-listed companies.
SpectraA Technology Solutions IPO Important Dates
The SpectraA Technology Solutions IPO opened on September 17 and closes on September 21, 2026. The basis of allotment is scheduled for September 22, refunds and demat credit are expected on September 23, and the shares are scheduled to list on NSE SME on September 24.
| Event | Date |
|---|---|
| IPO Opens | Sep 17, 2026 |
| IPO Closes | Sep 21, 2026 |
| Allotment | Sep 22, 2026 |
| Refund | Sep 23, 2026 |
| Demat Credit | Sep 23, 2026 |
| Listing | Sep 24, 2026 |
SpectraA Technology Solutions IPO Key Highlights
- SpectraA Technology Solutions IPO issue size is ₹42.52 crore.
- Price band is ₹112–₹118 per share.
- Fresh issue is approximately ₹38.42 crore.
- OFS component is approximately ₹4.11 crore.
- Lot size is 1,200 shares.
- Minimum retail application is 2,400 shares.
- Minimum retail investment is ₹2,83,200.
- Latest reported GMP is around ₹30.
- Day 1 subscription was around 5.17x.
- FY26 revenue was approximately ₹101.16 crore.
- FY26 PAT was approximately ₹11.56 crore.
- Order book stood at around ₹81.29 crore as of August 25, 2026.
- ₹11 crore is planned for Jaipur facility capex.
- ₹6.48 crore is planned for term-loan repayment.
- Shares are scheduled to list on NSE SME on September 24.
SpectraA Technology Solutions IPO Review
The SpectraA Technology Solutions IPO is a ₹42.52 crore NSE SME issue from an engineering and turnkey process-equipment company serving breweries, distilleries, food and beverage, FMCG and pharmaceutical industries.
The company reported FY26 revenue of ₹101.16 crore and PAT of ₹11.56 crore, while its order book stood at approximately ₹81.29 crore as of August 25. The IPO proceeds are planned for Jaipur facility expansion, debt repayment, working capital and general corporate purposes.
The reported GMP has declined from around ₹50 earlier in the week to about ₹30 on September 17, while Day 1 subscription was above five times. Investors tracking the IPO should therefore consider the company's order book, project execution, business concentration, financial performance, borrowings and SME-market characteristics alongside GMP and subscription data.
SpectraA Technology Solutions IPO Conclusion
The SpectraA Technology Solutions IPO is priced at ₹112–₹118 per share and closes on September 21, 2026. The ₹42.52 crore NSE SME issue includes a fresh issue and an OFS component, with fresh proceeds directed toward Jaipur facility expansion, debt repayment, working capital and other corporate requirements.
The latest reported GMP is around ₹30, while Day 1 subscription was approximately 5.17x. The company reported FY26 revenue of ₹101.16 crore and PAT of ₹11.56 crore, supported by an order book of around ₹81.29 crore as of August 25. Investors should verify the final subscription data and review the RHP, financial statements and risk factors before making an investment decision.
Disclaimer: SpectraA Technology Solutions IPO GMP is unofficial and unregulated. GMP and subscription figures can change frequently. Investors should verify the latest IPO documents and exchange disclosures before making any investment decision.
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