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₹112 - 118 Amounts at the upper price band.
SpectraA Technology Solutions Ltd
Capital Goods-Non Electrical EquipmentIPOSME
₹112 - 118
SpectraA Technology Solutions Ltd designs and fabricates custom turnkey process equipment and plants for breweries, distilleries, and food extraction facilities through in-house stainless steel engineering. The company operates as a full-scope original equipment manufacturer (OEM, a company that designs and fabricates completed process machinery in-house), managing assignments from initial Computer-Aided Design (CAD) drafting through on-site commissioning across beverage and botanical processing sectors.
Lot1,200Min Invest₹2,83,200Face Value₹10Issue Size₹43 CrFresh Issue₹38 CrOffer for Sale₹4 Cr
Timeline
17 Sept
Bidding opens
21 Sept
Bidding closes
22 Sept
Allotment
23 Sept
Refund & demat credit
24 Sept
Listing
Subscription · As of 6:10 PM, 21 Sept
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB184.5x16.22 L29.93 Cr3,531.97NII326.4x4.89 L15.95 Cr1,881.79Retail313.2x11.37 L35.60 Cr4,200.51Total282.6x36.04 L101.85 Cr11,406.59
Reports
Offer Details
Terms
Issue Size₹43 Cr0.36 Cr shares
Fresh Issue₹38 Cr
Offer for Sale₹4 Cr
Face Value₹10
Lot Size1,200 shares
ReservationQIB 49.95% · NII 15.05% · RETAIL 35%
Application Sizes
Retail₹2,83,2001-1 lots
sNII₹2,83,200from 2 lots
bNII₹11,32,800from 8 lots
Managers & Registrar
Lead ManagerIndcap Advisors Private Limited
RegistrarMaashitla Securities Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrA L Arun KumarPRMTR1,74,0002.05Sailaja Arun KumarPRMTR1,74,0002.05Total3,48,0004.11
Shareholding
CategoryPre IPOPost IPOPromoter Group96.04%70%Public3.96%30%
Objects of the Issue
- Capital Expenditure at Jaipur manufacturing facility
- Repayment of Term Loans availed by the Company
- Working Capital requirements
- General Corporate Purposes
Anchor Book
Bid Date16-Sep-2026Bid Price₹118Shares10,24,800Amount₹12 Cr30-day lock-in21-Oct-202690-day lock-in20-Dec-2026
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 103 | 89 | 75 | 101 |
| Operating ProfitCr | 4 | 4 | 10 | 19 |
| OPM% | 3.7 | 5.0 | 13.5 | 19.0 |
| PBTCr | 2 | 3 | 8 | 15 |
| PATCr | 2 | 2 | 5 | 12 |
| EPS | 17 | 18 | 5 | 11 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 1 | 1 | 1 | 10 |
| ReservesCr | 5 | 7 | 12 | 15 |
| BorrowingsCr | 11 | 14 | 17 | 27 |
| Total AssetsCr | 60 | 67 | 100 | 106 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | 2 | 1 | 1 | 8 |
| Investing Cash FlowCr | -5 | -2 | -4 | -9 |
| Financing Cash FlowCr | 1 | 2 | 1 | 6 |
| Net Cash FlowCr | -2 | 0 | -3 | 5 |
Strengths & Risks
Strengths · as stated in the DRHP
- Geographical Advantage of two manufacturing facilities.
- In-house Product Fabrication.
- Diversified and Sustainable Order Book.
- Quality Control and Compliance.
- Experienced Leadership and Skilled Team.
Strategies · as stated in the DRHP
- Strengthening Automation and Controls Capabilities across Manufacturing and Project Execution.
- Expand product flexibility and modular customisation.
- Strengthen supply chain resilience and local sourcing.
- Enhance customer support, after-sales service, and digital engagement.
- Targeted export growth and key-account development.
Risks · as stated in the DRHP
- The company derives a significant portion of its revenue from limited number of customers. The loss of any customer, the deterioration of their financial condition or prospects, or a reduction in their demand for the company's products could adversely affect its business, results of operations, financial condition and cash flows.
- The company depends on a limited number of suppliers for its raw materials, and any disruption in supply or adverse change in supply terms it may materially affect the company's business.
- A part of the Net Proceeds will be utilized for the repayment of a Term Loan availed of by the Company. Accordingly, the utilization of the Net Proceeds to the extent being used for the repayment of loan will not result in creation of any tangible assets.
- The company's revenues are significantly dependent on certain geographical regions, and any adverse developments in these regions could adversely impact its business, financial condition and results of operations.
- The company's revenues have been on a decreasing trend for the last three Financial Years. This is due to a strategic shift towards higher-margin products by the Company. If the company is unable to secure sufficient high-margin orders or if demand for such products decreases, the company's revenues may continue to be adversely impacted which may adversely affect its financial performance.
- Operating primarily in Beer and Malt Spirit Industry and dependence on a limited number of end-user industries and on customers' capital expenditure decisions may reduce demand for the company's products and may adversely affect its revenues, cash flows and financial condition.