Merritronix delivered an outstanding stock market debut, with shares opening at ₹283.10, 90% above the issue price of ₹149 on the BSE SME platform. The stock hit an upper circuit of ₹297.25 during intraday trading, demonstrating exceptional investor confidence in the electronics systems design and manufacturing company. According to Business Standard, the scrip was traded at ₹297.25 on the BSE, a 99.50% premium to the issue price of ₹149, with the counter hitting a high of ₹297.25 and a low of ₹283.10. About 25.67 lakh shares of the company changed hands at the counter, reflecting strong trading activity on the debut day.
The ₹70 crore IPO was open for subscription between June 1 and June 3, comprising an entirely fresh issue of 47 lakh shares. Investor response was exceptionally strong, with the IPO being subscribed 293.31 times overall. The price band was fixed between ₹141 to ₹149 per share, with the issue closing on June 3, 2026. The non-institutional investor category led demand at 476.59 times, while the retail portion was subscribed 297.67 times and the qualified institutional buyer segment attracted bids worth 224.91 times the shares on offer. Ahead of the public issue, the company had raised nearly ₹19.9 crore from anchor investors, providing additional confidence to the market ahead of the listing.
Merritronix operates in the electronics systems design and manufacturing (ESDM) segment, focusing on high-reliability and mission-critical electronic products used across defence, aerospace, telecommunications, and industrial applications. The company provides integrated manufacturing and design support services and largely caters to business-to-business customers. As per Business Standard, Merritronix offers end-to-end electronic manufacturing services, including component sourcing, PCB assembly, system integration, testing, and box-build solutions. The company possesses advanced Surface-Mount Technology (SMT) capabilities, including BGA and micro-BGA assembly, enabling it to deliver high-performance, mission-critical electronic systems. As of March 31, 2026, the company had total 57 employees.
For FY26, the company reported strong financial growth with revenue from operations of ₹155.90 crore and net profit of ₹16.10 crore for the period ended March 31, 2026. EBITDA increased to ₹27.2 crore from ₹15.2 crore a year earlier. These healthy financial metrics have supported investor interest and contributed to the robust grey market premium, with the actual listing performance significantly exceeding initial expectations. The strong financial performance demonstrates the company's ability to capitalize on growth opportunities in the defence and aerospace electronics sector.
