SpectraA Technology Solutions IPO

SpectraA Technology Solutions Limited, incorporated in 2009, is an engineering and technology solutions provider serving breweries, distilleries, food and beverages, malt spirit, extraction, FMCG and pharmaceutical industries. The company undertakes greenfield and brownfield projects covering engineering, design, fabrication, installation, commissioning and decommissioning. It manufactures key equipment in-house and provides customised process plant systems based on customer requirements. SpectraA operates manufacturing facilities in Malur, Karnataka, and Jaipur, Rajasthan, supporting its project execution capabilities. Its systems are developed under ISO 9001:2015-compliant processes. The company also uses standardised designs, dedicated project teams and local vendor networks to support project schedules and execution.

SpectraA Technology Solutions Limited IPO Overview

SpectraA Technology Solutions Limited is launching a bookbuilding IPO of ₹42.52 crore comprising a fresh issue of 32.56 lakh shares aggregating to ₹38.42 crore and an offer for sale of 3.48 lakh shares aggregating to ₹4.11 crore. The IPO will open on 17 September 2026 and close on 21 September 2026. The price band is ₹112 to ₹118 per share, with a lot size of 1,200 shares. Retail investors must apply for two lots, or 2,400 shares, requiring ₹2,83,200 at the upper price band. The minimum S-HNI application is three lots, or 3,600 shares, amounting to ₹4,24,800. Allotment is expected on 22 September, while refunds and share credit are scheduled for 23 September. Listing is scheduled on NSE SME on 24 September 2026. Indcap Advisors Pvt. Ltd. is the book running lead manager, Maashitla Securities Pvt. Ltd. is the registrar, and Asnani Stock Broker Pvt. Ltd. is the market maker.

SpectraA Technology Solutions Limited IPO Details

Particulars	Details
IPO Date	17 September 2026 to 21 September 2026
Listing Date	24 September 2026
Face Value	₹10 per share
Issue Price Band	₹112 to ₹118 per share
Lot Size	1,200 Shares
Total Issue Size	36,03,600 shares (aggregating up to ₹42.52 Cr)
Fresh Issue	32,56,000 shares (aggregating up to ₹38.42 Cr)
Offer for Sale	3,48,000 shares (aggregating up to ₹4.11 Cr)
Issue Type	Bookbuilding IPO
Listing At	NSE SME
Share Holding Pre Issue	1,00,91,646 shares
Share Holding Post Issue	1,33,47,246 shares
Market Maker Portion	1,82,400 shares

SpectraA Technology Solutions Limited IPO Reservation

Investor Category	Shares Offered
QIB	17,08,800 shares (49.95% of Net Issue)
Retail	11,97,600 shares (35.01% of Net Issue)
NII (HNI)	5,14,800 shares (15.05% of Net Issue)
Market Maker	1,82,400 shares

SpectraA Technology Solutions Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	2,400	₹2,83,200
Retail (Max)	2	2,400	₹2,83,200
S-HNI (Min)	3	3,600	₹4,24,800
S-HNI (Max)	7	8,400	₹9,91,200
B-HNI (Min)	8	9,600	₹11,32,800

SpectraA Technology Solutions Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	96.04%
Post-Issue	70.00%

SpectraA Technology Solutions Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹8.66
Price/Earnings (P/E) Ratio	13.63x
Return on Net Worth (RoNW)	46.59%
Net Asset Value (NAV)	₹24.58
Return on Equity	60.95%
Return on Capital Employed (ROCE)	37.61%
EBITDA Margin	19.04%
PAT Margin	11.42%
Debt to Equity Ratio	1.09

Objectives of the Proceeds

1. Jaipur manufacturing facility:

₹11 crore will fund capital expenditure for expanding the company’s manufacturing facility in Jaipur.

2. Repayment of term loans:

₹6.48 crore will be used to repay term loans availed by the company, reducing outstanding debt.

3. Working capital requirements:

₹9.50 crore will support working capital needs arising from the company’s ongoing project execution activities.

4. General corporate purposes:

The remaining proceeds will support general corporate requirements and other permitted business purposes.

Key Financials (in ₹ crore)

Particulars	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	106.29	100.00	66.64
Revenue / Total Income	103.05	75.53	89.68
Profit After Tax	11.56	4.91	2.00
Reserves and Surplus	14.72	12.00	7.06
Total Borrowings	26.96	17.21	14.19

IPO Strengths

1. Diversified and sustainable order book.

2. Diversified product and industry portfolio.

3. End-to-end project execution capabilities.

4. Experienced leadership and skilled workforce.

5. Two strategically located manufacturing facilities.

6. In-house fabrication and manufacturing capabilities.

7. Quality-focused and ISO 9001:2015 compliant systems.

Peer Group Comparison

Company Name	EPS (Basic)	EPS (Diluted)	NAV (₹)	P/E (x)	RoNW (%)	P/BV Ratio
SpectraA Technology Solutions Ltd.	11.45	11.45	24.58	—	46.59	—
Praj Industries Limited	1.30	1.30	71.23	258.89	1.82	4.73