Merritronix IPO oversubscribed 14 times on opening day, 5Cr bids
Merritronix's IPO kicked off with a bang; investors snapped up shares at over 14 times the available supply on opening day.
The electronics design and manufacturing company got bids for nearly 5 crore shares, even though only about 33 lakh were up for grabs.
Over 20,000 applications poured in, showing just how eager people were to get a piece of the action.
Retail investors bid over 22x quota
Retail investors led the charge, bidding more than 22 times their quota, while non-institutional buyers weren't far behind. Qualified institutional buyers sat out for now.
Shares are already trading at a hefty 60% premium in the gray market, a sign of strong buzz.
Merritronix raised ₹19.9 crore from anchor investors like SIDBI and HDFC Bank before launch, and plans to use funds for new machinery, working capital, debt repayment, and other business needs.
Merritronix profit up 86% to ₹16.1Cr
The hype isn't just about demand: Merritronix posted an impressive profit jump of 86% in fiscal year 2026 (FY2026) (₹16.1 crore) and saw revenue climb over 37% to ₹155.9 crore.
That solid performance is likely making investors extra confident about its future prospects.