Technocrats Plasma Systems IPO GMP today is Rs 70. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
TECHNOCRAT
Technocrats Plasma Systems IPO GMP, Subscription & Allotment Status Today
Technocrats Plasma Systems Limited is an engineering-led manufacturer of plasma cutting machines, welding equipment, and customised automation systems for metal fabrication in India. Headquartered in Maharashtra with manufacturing facilities in Vasai East, the company designs, manufactures, supplies, installs, and commissions cutting and welding solutions. Its product portfolio comprises plasma cutting machines, CNC gas and plasma profile cutting machines, CNC pipe profile systems, fibre laser cutting machines, laser welding systems, and conventional and inverter-based welding equipment. The company also offers integrated Fibre Laser + Plasma + Oxy-Fuel cutting systems. It generates revenue primarily through the sale of manufactured machinery, spare parts, and execution of turnkey projects. Additionally, the company provides technical consultancy, layout planning, on-site commissioning, operator training, lifecycle support, and retrofit services, serving public and private enterprises across the automotive, construction, heavy engineering, oil and gas, and railway sectors.
- Price Band
- ₹125.00 - ₹132.00
- Lot Size
- 1,000 Shares
- Bidding Closes
- 18 Aug 2026
- Listing Date
- 21 Aug 2026
Current GMP Status
₹70
+53.03% vs upper band
Est. Listing Gain
+74.24%
Last Trend
18 Aug 2026
Listing Price
₹230.00
Retail Entry
₹2,64,000
IPO Details
Complete IPO information
| Current GMP | ₹70 |
|---|---|
| Estimated Listing Gain | +74.24% |
| Price Band | ₹125.00 - ₹132.00 |
| Issue Price | Approx ₹132.00 Crores |
| Listing Price | ₹230.00 |
| Lot Size | 1,000 Shares |
| Issue Type | SME |
| Registrar | TBA |
| Exchange | BSE SME |
| Retail Quota | TBA |
| Overall Subscription | 189.22x |
| Listing Date | 21 Aug 2026 |
| Minimum Investment | ₹2,64,000 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 8.77 | 1486.83 | 169.54x |
| NII | 8.91 | 2061.34 | 231.35x |
| Retail | 15.38 | 2707.58 | 176.05x |
| Overall Subscription | 33.06 | 6255.75 | 189.22x |
Head-to-head
Compare Technocrats Plasma Systems IPO with similar IPOs
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Technocrats Plasma Systems is priced at ₹132 per share. With a minimum lot size of 1,000 shares, a retail investor applying for one lot would need approximately ₹2,64,000 to participate in this SME issue.
The latest recorded Grey Market Premium for Technocrats Plasma Systems stands at ₹70, implying an estimated listing gain of around 53.03% over the issue price if it holds until listing. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Technocrats Plasma Systems's IPO was subscribed 189.22x overall, with a category-wise breakdown of Retail 176.05x, QIB 169.54x, NII 231.35x.
Among the strengths highlighted in Technocrats Plasma Systems's IPO documents: Over 30 years of track record in manufacturing plasma cutting and welding equipment.; In-house design capabilities for indigenous development of CNC and laser systems..
Investors should also weigh the risk factors Technocrats Plasma Systems has disclosed, including: Heavy reliance on raw material supply chains and volatile specialty steel prices..
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
14 Aug 2026
✓
Bidding Closes
18 Aug 2026
✓
Allotment
19 Aug 2026
✓
Listing
21 Aug 2026
Grey Market Premium
Daily GMP status
Trend chart builds up as more daily GMP snapshots are recorded.
| Date | GMP | Change | Gain |
|---|---|---|---|
| 18 Aug 2026 | ₹31.00 | - | 23.48% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 2,000 | ₹2,64,000 |
| Retail Maximum | 2 Lot | 2,000 | ₹2,64,000 |
| S-HNI Minimum | 3 Lot | 3,000 | ₹3,96,000 |
| S-HNI Maximum | 7 Lot | 7,000 | ₹9,24,000 |
| B-HNI Minimum | 8 Lot | 8,000 | ₹10,56,000 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Issue Notes
Important takeaways before applying
Strengths
- Over 30 years of track record in manufacturing plasma cutting and welding equipment.
- In-house design capabilities for indigenous development of CNC and laser systems.
- Wide product portfolio including CNC profile cutters, fibre lasers, and welding units.
- End-to-end service offering covering consultancy, installation, training, and retrofits.
- Strong return metrics with ROCE at 62.85% and RoNW at 124.79%
Risks
- Heavy reliance on raw material supply chains and volatile specialty steel prices.
- High capital and R&D requirements needed to keep pace with rapid technological changes.
- Risk of operational strain and quality control issues while scaling up manufacturing.
- Limited brand recognition in international markets compared to global competitors.
- Financial risk from leverage, with a Debt-to-Equity ratio standing at 1.10 times
Analysis
Technocrats Plasma Systems IPO Details
The Technocrats Plasma Systems IPO is a book-built SME public issue with a total issue size of approximately ₹60.98 crores. The IPO consists entirely of a fresh issue, with no Offer for Sale component. The company is offering approximately 46.20 lakh equity shares through the issue.
The IPO opens for subscription on August 14, 2026 and closes on August 18, 2026. The price band has been fixed at ₹125 to ₹132 per equity share, with a face value of ₹10 per share. The shares are proposed to be listed on the BSE SME platform. :contentReference[oaicite:0]{index=0}
| Particular | Details |
|---|---|
| IPO Open Date | August 14, 2026 |
| IPO Close Date | August 18, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹125 to ₹132 Per Share |
| Issue Size | Approx ₹60.98 Crores |
| Fresh Issue | Approx ₹60.98 Crores |
| Issue Type | Book Built Issue |
| IPO Listing | BSE SME |
Note: Technocrats Plasma Systems IPO is a 100% fresh issue. The IPO proceeds are intended primarily for plant and machinery, working-capital requirements and general corporate purposes. Investors should review the company's financial performance, valuation, issue objectives and business risks before making an investment decision.
Analysis
Technocrats Plasma Systems IPO Reservation
The Technocrats Plasma Systems IPO has a category-wise reservation structure for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), Retail Individual Investors and Anchor Investors.
As per the provided allocation structure, 50% of the offer is allocated to Qualified Institutional Buyers, excluding the anchor investor portion. 15% is reserved for Non-Institutional Investors, while 35% is reserved for Retail Individual Investors.
| Investor Category | Shares Offered | Reservation (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: The exact number of shares offered under each investor category is currently unavailable in the provided data. The category-wise share allocation can be updated once the final reservation and anchor allocation details are available.
Analysis
Technocrats Plasma Systems IPO Anchor Investors
The Technocrats Plasma Systems IPO anchor investor bidding was scheduled for August 13, 2026, ahead of the public issue opening on August 14, 2026. The anchor allocation provides institutional investors an opportunity to participate in the issue before the public subscription period begins.
The final anchor investor list, number of equity shares allocated and total anchor investment amount can be updated once the complete allocation details are available. Under the applicable structure, 50% of the anchor allocation is subject to a 30-day lock-in period, while the remaining 50% is subject to a 90-day lock-in period.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 13, 2026 |
| Anchor Investors List | To be Updated |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date – 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date – Remaining 50% Shares (90 Days) | 2026 |
Note: The anchor investor names, number of shares allocated, anchor issue size and exact 30-day and 90-day lock-in expiry dates are currently unavailable in the provided data and can be updated once the final Technocrats Plasma Systems IPO anchor allocation details are available.
Analysis
Technocrats Plasma Systems IPO Dates
The Technocrats Plasma Systems IPO opens for subscription on August 14, 2026 and closes on August 18, 2026. Investors can submit their IPO applications during this subscription period.
After the issue closes, the basis of allotment is expected to be finalized on August 19, 2026. Refunds for unsuccessful applicants are scheduled for August 20, 2026, while shares are expected to be credited to the demat accounts of successful applicants on the same day. The Technocrats Plasma Systems IPO listing date is August 21, 2026.
| IPO Event | Date |
|---|---|
| IPO Open Date | August 14, 2026 |
| IPO Close Date | August 18, 2026 |
| Basis of Allotment | August 19, 2026 |
| Refunds | August 20, 2026 |
| Credit to Demat Account | August 20, 2026 |
| IPO Listing Date | August 21, 2026 |
Note: The above table summarizes the Technocrats Plasma Systems IPO timeline from subscription opening through the proposed BSE SME listing. The schedule may be revised if any changes are announced by the company, registrar or stock exchange.
Analysis
Technocrats Plasma Systems IPO Promoters and Holding Pattern
The promoters of Technocrats Plasma Systems are Sandeep Aggarwal, Nikunj Aggarwal and Esha Gupta. Before the IPO, the promoter and promoter group collectively hold 86.96% of the company's equity share capital, while other shareholders hold the remaining 13.04%.
The promoter and promoter group hold 1,12,00,000 equity shares before the IPO. Following completion of the issue, their shareholding is expected to dilute to approximately 64%, while the holding of other shareholders is expected to increase to approximately 36%.
Promoters of Technocrats Plasma Systems
- Sandeep Aggarwal
- Nikunj Aggarwal
- Esha Gupta
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 1,12,00,000 | 86.96% | – | 64% |
| Others* | 16,80,000 | 13.04% | – | 36% |
| Total | 1,28,80,000 | 100% | 1,75,00,000 | 100% |
Note: The above table summarizes the pre-IPO and post-IPO holding pattern of Technocrats Plasma Systems based on the provided shareholding information. The promoter group's holding is expected to dilute from 86.96% before the issue to approximately 64% after the IPO.
Analysis
Technocrats Plasma Systems IPO Objects of the Issue & Utilisation of Proceeds
Technocrats Plasma Systems proposes to utilise the IPO proceeds primarily for strengthening its manufacturing capabilities and supporting its long-term working capital requirements. The company plans to invest in additional plant and machinery at its existing premises.
Approximately ₹8.79 crores is proposed to be utilised for the purchase and installation of plant and machinery used for manufacturing plasma cutting machines, welding equipment and customised automation systems. A significantly larger amount of approximately ₹44.07 crores is proposed to be deployed towards the company's long-term working capital requirements.
| Purpose | Amount |
|---|---|
| Purchase and installation of plant and machinery for manufacturing of plasma cutting machines, welding equipment and customised automation systems at the Existing Premises | ₹8.79 Crores |
| Funding towards long-term working capital requirements | ₹44.07 Crores |
| Purposes | ₹- |
Note: The above amounts represent the proposed utilisation of the Technocrats Plasma Systems IPO proceeds. Investment in manufacturing equipment may support production capabilities, while the working capital allocation is intended to support the company's ongoing and future operational requirements.
Analysis
Technocrats Plasma Systems About Ipo
Technocrats Plasma Systems offers plasma-based surface treatment and coating solutions for industrial applications. Plasma technology helps to clean, activate, coat, and modify surfaces. The firm designs, develops, and installs plasma systems used for surface cleaning, activation, coating, and modification across diverse manufacturing sectors.
Its product range includes Machines with Automation, machines without automation, customisation & retrofit, and various other services including system customisation, installation, commissioning, maintenance support, and technical consulting. After receiving encouragement for developing reliable plasma cutting machines, the firm decided to expand its business into welding machines and welding systems. Technocrafts has also designed plasma gasifiers and Plasma Furnaces used for e-waste management and for advanced material processing.
Analysis
Technocrats Plasma Systems IPO Company Financial Report
Technocrats Plasma Systems recorded substantial growth in its financial performance between FY2024 and FY2026. Revenue increased from ₹6.35 crores in FY2024 to ₹49.44 crores in FY2025 and further expanded to ₹131.41 crores in FY2026.
Profit After Tax (PAT) also increased during the period, rising from ₹2.21 crores in FY2024 to ₹8.11 crores in FY2025 and reaching ₹14.94 crores in FY2026. The company's asset base expanded from ₹13.55 crores in FY2024 to ₹72.06 crores in FY2026.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹6.35 Cr. | ₹5.55 Cr. | ₹2.21 Cr. | ₹13.55 Cr. |
| 2025 | ₹49.44 Cr. | ₹41.68 Cr. | ₹8.11 Cr. | ₹36.72 Cr. |
| 2026 | ₹131.41 Cr. | ₹106.47 Cr. | ₹14.94 Cr. | ₹72.06 Cr. |
Amount in ₹ Crores: The above table summarizes Technocrats Plasma Systems' revenue, expenses, Profit After Tax (PAT) and total assets from FY2024 to FY2026. Investors should evaluate the company's rapid revenue growth together with profitability margins, cash flows, working capital requirements, debt position and IPO valuation while assessing the issue.
Analysis
Technocrats Plasma Systems IPO Valuation – FY2026
The Technocrats Plasma Systems IPO valuation can be evaluated using key financial indicators such as Earnings Per Share (EPS), Return on Equity (ROE), Return on Capital Employed (ROCE), EBITDA Margin, PAT Margin, debt-to-equity ratio, Return on Net Worth (RoNW) and Net Asset Value (NAV).
For FY2026, Technocrats Plasma Systems reported a strong ROE of 56.10% and ROCE of 48.55%. The company's EBITDA margin stood at 20.02%, while its PAT margin was 11.37%. Basic EPS stood at ₹11.63 per share, with RoNW at 56.10% and NAV at ₹30.28 per share.
| KPI | Values |
|---|---|
| ROE | 56.10% |
| ROCE | 48.55% |
| EBITDA Margin | 20.02% |
| PAT Margin | 11.37% |
| Debt to Equity Ratio | 0.38 |
| Earning Per Share (EPS) | ₹11.63 (Basic) |
| Price / Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 56.10% |
| Net Asset Value (NAV) | ₹30.28 |
Note: The above valuation metrics are based on FY2026 financial information. Investors should compare these indicators with the IPO price band, peer-group valuations, revenue and profit growth, debt levels, margins and the company's overall business outlook while evaluating the Technocrats Plasma Systems IPO.
Analysis
Technocrats Plasma Systems IPO Peer Group Comparison
The Technocrats Plasma Systems IPO peer group comparison provides a benchmark for evaluating the company's financial performance against listed companies operating across welding equipment, industrial automation and CNC machinery segments. Key parameters include Earnings Per Share (EPS), Price-to-Earnings (P/E) ratio, Return on Net Worth (RoNW), Net Asset Value (NAV) and income.
The identified peer group includes Ador Welding Limited, ESAB India Limited, Patil Automation Ltd and Jyoti CNC Automation Ltd. Among these peers, ESAB India has the highest EPS at 134.30 and RoNW at 48.14%, while Jyoti CNC Automation carries the highest P/E multiple at 58.51.
| Company | EPS | P/E Ratio | RoNW (%) | NAV | Income |
|---|---|---|---|---|---|
| Ador Welding Limited | 47.11 | 31.55 | 14.79% | 318.60 | 1,158.17 Cr. |
| ESAB India Limited | 134.30 | 41.88 | 48.14% | 278.94 | 1,514.18 Cr. |
| Patil Automation Ltd | 8.65 | 23.21 | 13.77% | 63.49 | 172.79 Cr. |
| Jyoti CNC Automation Ltd | 14.78 | 58.51 | 16.79% | 88.00 | 2,153.61 Cr. |
Note: Peer-group figures should be considered comparative benchmarks rather than viewed in isolation. Investors should compare Technocrats Plasma Systems' EPS, RoNW, NAV, profitability, IPO pricing, growth profile and business scale with its listed peers while evaluating the IPO.
Analysis
IPO Lead Managers aka Merchant Bankers
- Rarever Financial Advisors Pvt. Ltd.
FAQ
Technocrats Plasma Systems IPO FAQs
Technocrats Plasma Systems IPO price band is Rs 125.00 to Rs 132.00. Check the latest issue price, lot size and GMP together before applying.
Technocrats Plasma Systems IPO open date is 14 Aug 2026, close date is 18 Aug 2026, and listing date is 21 Aug 2026.
Technocrats Plasma Systems IPO lot size is 1,000 shares. The minimum retail investment is Rs 2,64,000.
Technocrats Plasma Systems is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Technocrats Plasma Systems IPO subscription status currently shows Retail 176.05x, QIB 169.54x, NII 231.35x, Overall 189.22x.
Technocrats Plasma Systems Limited is an engineering-led manufacturer of plasma cutting machines, welding equipment, and customised automation systems for metal fabrication in India. Headquartered in Maharashtra with manufacturing facilities in Vasai East, the company designs, manufactures, supplies, installs, and commissions cutting and welding solutions. Its product portfolio comprises plasma cutting machines, CNC gas and plasma profile cutting machines, CNC pipe profile systems, fibre laser cutting machines, laser welding systems, and conventional and inverter-based welding equipment. The company also offers integrated Fibre Laser + Plasma + Oxy-Fuel cutting systems. It generates revenue primarily through the sale of manufactured machinery, spare parts, and execution of turnkey projects. Additionally, the company provides technical consultancy, layout planning, on-site commissioning, operator training, lifecycle support, and retrofit services, serving public and private enterprises across the automotive, construction, heavy engineering, oil and gas, and railway sectors.
Technocrats Plasma Systems IPO issue size is 60.98 and the expected allotment date is 19 Aug 2026.
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