Matrix Geo Solutions Sets IPO Price Band at Rs 98-104, Issue Opens September 23

New Delhi, September 22  Matrix Geo Solutions, a geospatial and engineering consultancy utilizing drones, is coming with its ₹40 crore initial public offering (IPO). The company set the price range of ₹98 to ₹104 per share for its IPO. The issue will be open for subscription from September 23 to September 25. Being solely a fresh issue, the SME IPO will consist of 38.65 lakh equity shares, with plans for listing on the NSE SME platform.

Since its establishment in 2008, Matrix Geo Solutions has become known for its cutting-edge geospatial services in photogrammetry, LiDAR, GIS, remote sensing and drone technologies. Matrix Geo Solutions serves clients in key critical infrastructure industries such as railways, highways, irrigation, mining and power to provide clients with smart, sustainable decisions.

Lot Size and Managers

The minimum size of the application is specified at 1,200 shares per application lot, with an investor required to bid on a minimum of 2,400 shares or 2,000 shares in the case of retail. The sole book-running lead manager will be Narnolia Financial Services, and the registrar company will be Nexgen Financial Solutions.

Utilisation of Funds

Matrix Geo Solutions Sets IPO amount will be used toward the purchase of drones and surveying equipment, research and development of modern technologies, capital expenditures, increasing working capital, and general corporate expenses. Managing Director Rahul Jain said the new capital infusion would enhance the technological capabilities of the company and reinforce its leadership position in the market.

Financial Snapshot

Matrix Geo Solutions has achieved significant expansion. For FY25, the company reported total income of ₹22.19 crore, up from ₹13.77 crore in FY24. The net profit has increased to ₹5.86 crore from ₹3.35 crore in the previous year.

Investor Outlook

Given strong revenue growth, rising profitability, and increased demand for drone-based geospatial solutions, Matrix Geo Solutions’ IPO has great potential. However, listings of SMEs usually exhibit heightened volatility, which means investors should take a cautious approach in their participation in this IPO.

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