Paluck Technologies, a diversified engineering-services group serving the telecom and construction sectors, has announced the opening date for its IPO on August 28, 2026, targeting ₹33 crore through an initial public offering on BSE SME. The company will issue 68.76 lakh equity shares in the price band of ₹46 - ₹48 per share. The issue comprises 19.56 lakh shares for anchor investors, 13.08 lakh shares for qualified institutional buyers (QIBs), 9.81 lakh shares for non-institutional investors, 22.86 lakh shares for individual investors, and 3.45 lakh shares for market makers. Anchor investor bidding is scheduled for Thursday, August 27, 2026, with the issue closing on September 1, 2026. The IPO is scheduled to list on BSE SME on September 4, 2026. The promoter & promoter group holds 86.55% equity pre-IPO, which will be diluted after IPO due to the fresh issue, making it 57.97%. The minimum bid requirement is ₹2,88,000 for 6,000 shares, with a lot size of ₹1,44,000 for 3,000 shares. The company's Grey Market Premium (GMP) is currently trading at ₹52%, indicating strong listing expectations among unofficial investors.
As reported by The Economic Times, the net proceeds from the IPO will be utilized for multiple strategic purposes. The funds will be partly allocated for funding capital expenditure towards the purchase of new Ready-Mix Concrete machinery and DG sets, with ₹10 crore allocated specifically for this purpose. Additionally, the proceeds will fund repayment of certain outstanding borrowings to the tune of ₹3.10 crore. The company also plans to use the proceeds for prepayment or repayment, in full or in part, of certain outstanding borrowings, funding its working capital requirements and general corporate purposes. The company's business model combines machinery, project execution, technical capability, customer relationships, equipment utilisation and working-capital management, with capacity influenced by machinery base, equipment availability, project pipeline, technical workforce, and working-capital position. The company plans to utilize ₹23.10 crore for these specific objectives, with any remaining funds allocated for general corporate purposes.
According to the latest financial data, Paluck Technologies reported total income of ₹102.90 crore in FY25, compared with ₹101.74 crore in FY24 and ₹92.30 crore in FY23. The company demonstrated strong profitability improvements with PAT rising to ₹9.63 crore in FY25 from ₹3.43 crore in FY24, while EBITDA increased to ₹18.99 crore from ₹13.27 crore. For the first 11 months of FY26, the company reported revenue of ₹10,501.58 lakh, EBITDA of ₹2,392.98 lakh and PAT of ₹1,383.71 lakh. The balance sheet strengthened significantly with net worth increasing to ₹31.82 crore from ₹18.48 crore in FY24, while total borrowings declined to ₹17.49 crore from ₹30.05 crore. The company's Grey Market Premium (GMP) is currently trading at ₹52%, reflecting the sentiment of unofficial investors before official listing. The latest financial data shows assets of ₹105.09 crore as of February 28, 2026, with revenue of ₹105.02 crore and reserves of ₹13.84 crore. The company's EPS improved significantly to ₹31.51 in FY25 from ₹7.44 in FY23, while ROCE increased to 37.09% in FY25 from 13.24% in FY23.
According to The Economic Times, Navin Katiyar, Managing Director of Paluck Technologies, emphasized that the IPO represents a defining step in the company's evolution and reflects progress made over the years. "What began as a focused service business has today developed into an integrated platform addressing requirements across telecom infrastructure and construction equipment, supported by established industry relationships and execution experience," Katiyar said. The company operates through multiple business verticals including logistics & equipment rental with a fleet of more than 190 specialized vehicles serving infrastructure developers, EPC contractors and cement manufacturers across key markets including Delhi NCR, Haryana, Rajasthan, Gujarat, Madhya Pradesh, Odisha and Jammu & Kashmir. In Telecom Engineering, Paluck provides network implementation, installation, maintenance and upgradation services to major telecom OEMs, having experience managing 7,500+ telecom sites with operations spanning multiple telecom circles across India. The company also operates authorised dealerships and service centres for power equipment, commercial vehicles and two-wheelers, providing equipment servicing, spare parts, emission-control solutions and after-sales support. As of February 28, 2026, the company has a total workforce of 192 employees. The company is a Gurugram-based diversified engineering services company with more than 15 years of operating experience, evolving from diesel generator and engine services into telecom, electrical, solar, equipment rental and allied engineering solutions.
As reported by The Economic Times, the proposed IPO is expected to support the company's next phase of development through investment in RMC machinery and DG sets, working capital requirements, and repayment of certain borrowings. The access to capital markets will enable the company to strengthen its operating platform and pursue growth plans with greater financial flexibility. The company's ability to win contracts, manage projects, maintain equipment and collect payments on time will be important to converting capacity into revenue and profitability in the engineering and infrastructure-services market. The book-running lead manager to the issue is Horizon Management Private, while Bigshare Services Private is the registrar to the issue. The company's next priority is to translate its experience into greater scale, with the proposed IPO providing additional resources to invest in RMC machinery and DG sets and strengthen its working capital position. These investments are intended to improve the company's ability to undertake larger opportunities and support the growing requirements of its customers.
