{"id":32697,"date":"2026-06-01T12:55:39","date_gmt":"2026-06-01T07:25:39","guid":{"rendered":"https:\/\/khabreindia.com\/index.php\/2026\/06\/01\/merritronix-ltd-a-defence-aerospace-focused-esdm-company-files-rhp-for-rs-70-03-cr-ipo-on-bse-sme-backed-by-veteran-investor-madhu-kela\/"},"modified":"2026-06-01T12:55:39","modified_gmt":"2026-06-01T07:25:39","slug":"merritronix-ltd-a-defence-aerospace-focused-esdm-company-files-rhp-for-rs-70-03-cr-ipo-on-bse-sme-backed-by-veteran-investor-madhu-kela","status":"publish","type":"post","link":"https:\/\/khabreindia.com\/index.php\/2026\/06\/01\/merritronix-ltd-a-defence-aerospace-focused-esdm-company-files-rhp-for-rs-70-03-cr-ipo-on-bse-sme-backed-by-veteran-investor-madhu-kela\/","title":{"rendered":"Merritronix Ltd., a Defence &amp; Aerospace-Focused ESDM Company, Files RHP for Rs 70.03 Cr IPO on BSE SME \u2013 Backed by Veteran Investor Madhu Kela"},"content":{"rendered":"<p class=\"wp-block-paragraph\"><strong>Hyderabad (Telangana) [India], June 1:<\/strong> Merritronix Ltd. is a 36-year-old electronics manufacturing company specialising in defence and aerospace applications. The company is hitting the capital markets with a&nbsp;<strong>100% fresh issue IPO of up to 47 lakh equity shares<\/strong>&nbsp;on&nbsp;<strong>BSE SME<\/strong>, aiming to raise&nbsp;<strong>\u20b970.03 Cr<\/strong>&nbsp;at a price band of&nbsp;<strong>\u20b9141\u2013\u20b9149 per share<\/strong>&nbsp;(lot size: minimum&nbsp;<strong>2,000 shares<\/strong>&nbsp;and in multiples of&nbsp;<strong>1,000 equity shares<\/strong>&nbsp;thereafter).<\/p>\n<p class=\"wp-block-paragraph\">The IPO proceeds are proposed to be utilised primarily towards&nbsp;<strong>machinery capex, working capital requirements, and repayment of debt<\/strong>. The&nbsp;<strong>anchor investor date is May 29, 2026<\/strong>, and the issue will be open for public subscription from&nbsp;<strong>June 01 to June 03, 2026<\/strong>.<\/p>\n<p class=\"wp-block-paragraph\">The company is&nbsp;<strong>backed by Madhu Kela through Founders Collective Fund<\/strong>, which holds a&nbsp;<strong>3.61% stake<\/strong>&nbsp;in Merritronix Ltd.<\/p>\n<p class=\"wp-block-paragraph\"><strong>Book Running Lead Manager:<\/strong>&nbsp;GYR Capital Advisors Private Limited<\/p>\n<p class=\"wp-block-paragraph\"><strong>Issue Structure<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Total Issue Size:<\/strong>&nbsp;Up to&nbsp;<strong>47.00 lakh equity shares<\/strong>&nbsp;(100% fresh issue)&nbsp;<\/li>\n<li><strong>Market Maker Portion:<\/strong>&nbsp;Up to&nbsp;<strong>2.36 lakh equity shares<\/strong>&nbsp;<\/li>\n<li><strong>Anchor Investor Portion:<\/strong>&nbsp;Up to&nbsp;<strong>13.36 lakh equity shares<\/strong>&nbsp;<\/li>\n<li><strong>Net QIB Portion:<\/strong>&nbsp;Up to&nbsp;<strong>8.92 lakh equity shares<\/strong>&nbsp;<\/li>\n<li><strong>Non-Institutional Investors:<\/strong>&nbsp;Not less than&nbsp;<strong>6.72 lakh equity shares<\/strong>&nbsp;<\/li>\n<li><strong>Retail Individual Investors:<\/strong>&nbsp;Not less than&nbsp;<strong>15.64 lakh equity shares<\/strong><\/li>\n<\/ul>\n<h4 class=\"wp-block-heading\"><strong>Utilisation of Net Proceeds<\/strong><\/h4>\n<figure class=\"wp-block-table\">\n<table class=\"has-fixed-layout\">\n<tbody>\n<tr>\n<td>Capital expenditure towards purchase of Machinery and equipment<\/td>\n<td>Upto \u20b9 2,136.43 Lakhs<\/td>\n<\/tr>\n<tr>\n<td>Funding working capital requirements<\/td>\n<td>Upto \u20b9 2,195.21 Lakhs<\/td>\n<\/tr>\n<tr>\n<td>Repayment\/ prepayment, in full or part, of all or certain outstanding borrowings availed by our Company<\/td>\n<td>Upto \u20b91,271.92 Lakhs<\/td>\n<\/tr>\n<tr>\n<td>General corporate purposes<\/td>\n<td>[\u25cf]<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<h4 class=\"wp-block-heading\"><strong>Financial Highlights<\/strong><\/h4>\n<figure class=\"wp-block-table\">\n<table class=\"has-fixed-layout\">\n<tbody>\n<tr>\n<td><strong>Particulars<\/strong><\/td>\n<td><strong>FY2026<\/strong><\/td>\n<td><strong>FY2025<\/strong><\/td>\n<td><strong>FY2024<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Revenue from Operations (\u20b9 Lakhs)<\/td>\n<td>15,589.56<\/td>\n<td>11,356.38<\/td>\n<td>8,569.91<\/td>\n<\/tr>\n<tr>\n<td>EBITDA (\u20b9 Lakhs)<\/td>\n<td>2,721.68<\/td>\n<td>1,518.11<\/td>\n<td>672.64<\/td>\n<\/tr>\n<tr>\n<td>EBITDA Margin (%)<\/td>\n<td>17.42%<\/td>\n<td>13.31%<\/td>\n<td>7.82%<\/td>\n<\/tr>\n<tr>\n<td>PAT (\u20b9 Lakhs)<\/td>\n<td>1,610.30<\/td>\n<td>865.95<\/td>\n<td>305.03<\/td>\n<\/tr>\n<tr>\n<td>PAT Margin (%)<\/td>\n<td>10.33%<\/td>\n<td>7.63%<\/td>\n<td>3.56%<\/td>\n<\/tr>\n<tr>\n<td>Net Worth (\u20b9 Lakhs)<\/td>\n<td>5,252.28<\/td>\n<td>1,623.47<\/td>\n<td>757.52<\/td>\n<\/tr>\n<tr>\n<td>Debt- Equity Ratio<\/td>\n<td>0.81<\/td>\n<td>1.10<\/td>\n<td>1.93<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<h3 class=\"wp-block-heading\"><strong>About<\/strong> <strong>Merritronix <\/strong><\/h3>\n<p class=\"wp-block-paragraph\">Merritronix is led by Managing Director&nbsp;<strong>Mr. Dovari Amarnath<\/strong>, a Computer Science Engineering graduate from IIT Madras with over three decades of experience in the electronics manufacturing industry.&nbsp;<\/p>\n<p class=\"wp-block-paragraph\"><strong>Incorporated in 1988<\/strong>&nbsp;and headquartered in Hyderabad, Telangana, Merritronix operates from the Electronic Complex, Kushaiguda, offering&nbsp;<strong>end-to-end ESDM services<\/strong>&nbsp;&#8211; PCB design, SMT\/THT assembly, component sourcing, testing, and logistics &#8211; with a sharp focus on&nbsp;<strong>mission-critical defence<\/strong>&nbsp;and aerospace applications. The company holds long-standing approvals with&nbsp;<strong>BEL<\/strong>&nbsp;(since 2009) and&nbsp;<strong>HAL<\/strong>&nbsp;(since 2012), exports to Europe via&nbsp;<strong>Honeywell Aerospace<\/strong>&nbsp;since 2008, and has executed programmes spanning missile seeker assemblies, airborne radar systems, and defence aircraft DVRS.&nbsp;<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Obsolescence management &amp; reverse engineering<\/strong>&nbsp;&#8211; Specialises in keeping legacy defence systems operational through FFF replacements and system redesign<\/li>\n<li><strong>CERN vendor via TIFR<\/strong>&nbsp;&#8211; Selected as a vendor for CERN projects routed through TIFR<\/li>\n<li><strong>EN 9100:2018 certified<\/strong>&nbsp;&#8211; The globally recognised quality standard for aerospace and defence manufacturing, equivalent to AS9100D and JISQ 9100:2016. A mandatory prerequisite for most aerospace supply chains globally<\/li>\n<\/ul>\n<p class=\"wp-block-paragraph\"><em>If you object to the content of this press release, please notify us at pr.error.rectification@gmail.com. We will respond and rectify the situation within 24 hours.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"tmnf_excerpt meta_deko\"><p>Hyderabad (Telangana) India, June 1: Merritronix Ltd. is a 36-year-old electronics manufacturing company specialising in defence and aerospace applications. The company is hitting the capital markets with a&nbsp;100% fresh issue IPO of up to 47 lakh equity shares&nbsp;on&nbsp;BSE SME, aiming to raise&nbsp;\u20b970.03 Cr&nbsp;at a price band of&nbsp;\u20b9141\u2013\u20b9149 per share&nbsp;(lot size: minimum&nbsp;2,000 shares&nbsp;and in multiples of&nbsp;1,000 &hellip;<\/p>\n<\/div>","protected":false},"author":1,"featured_media":32696,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-32697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/khabreindia.com\/index.php\/wp-json\/wp\/v2\/posts\/32697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/khabreindia.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/khabreindia.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/khabreindia.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/khabreindia.com\/index.php\/wp-json\/wp\/v2\/comments?post=32697"}],"version-history":[{"count":0,"href":"https:\/\/khabreindia.com\/index.php\/wp-json\/wp\/v2\/posts\/32697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/khabreindia.com\/index.php\/wp-json\/wp\/v2\/media\/32696"}],"wp:attachment":[{"href":"https:\/\/khabreindia.com\/index.php\/wp-json\/wp\/v2\/media?parent=32697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/khabreindia.com\/index.php\/wp-json\/wp\/v2\/categories?post=32697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/khabreindia.com\/index.php\/wp-json\/wp\/v2\/tags?post=32697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}