Matrix Geo Solutions IPO: GMP indicates muted listing today
Matrix Geo Solutions just launched its IPO on the NSE SME platform, pricing shares at ₹98-104 each (minimum lot: 2,400 shares).
The offer was oversubscribed 7.69 times, with qualified institutional buyers leading demand, but the gray market premium is only about 9%, so it indicates a restrained listing outlook.
Matrix specializes in geospatial consulting and drone surveys
They're all about geospatial consulting and drone-powered survey services.
With over 1,500 projects across India—including work on the Ahmedabad-Mumbai bullet train and Pune-Mumbai Hyperloop—they count Indian Railways, NHAI, NTPC, Adani, L&T and Tata Projects as clients.
They posted strong numbers for FY25
In FY25 (the year ending March 2025), Matrix boosted revenue by 61% to ₹22.2 crore and nearly doubled profits to ₹5.9 crore.
They plan to use the IPO funds for new drones and tech gear, plus expanding their footprint in India's growing geospatial sector.