Merritronix stock opens 90% above issue on BSE SME debut
Merritronix just made a splashy entrance on the BSE SME, with its shares jumping 90% above the issue price right out of the gate.
The stock opened at ₹283.10 (issue price was ₹149) and quickly hit its upper circuit limit at ₹297.25, thanks to heavy demand for its IPO.
Merritronix ₹70Cr IPO oversubscribed 315 times
The ₹70 crore IPO was open for three days and got oversubscribed an incredible 315 times: non-institutional investors led with 476 times, retail at nearly 298 times, and institutional buyers at about 225 times.
Merritronix's recent financials helped build confidence: revenue grew by 37% to ₹156 crore in fiscal 2026, and profits soared by 86%.
The company plans to use the funds for expanding capacity, working capital, and paying off debt, plus it's positioned well with government support for domestic manufacturing.