SpectraA Technology IPO Analysis & Review

Quick Answers

What is the SpectraA Technology IPO GMP today? The SpectraA Technology IPO GMP is ₹50 as of 16/9/2026, 6:16:24 am. The IPO price band is ₹112 - ₹118. GMP represents an unofficial grey-market indication and does not guarantee the listing price.

When does SpectraA Technology IPO open? The SpectraA Technology IPO opens on 2026-09-17 and closes on 2026-09-21.

What is the SpectraA Technology IPO subscription status? The overall subscription is 0x.

Key IPO Information

ViewIPO AI Analysis Score

The SpectraA Technology IPO scored 56/100 (High Risk) in our deep analysis.

Frequently Asked Questions

What is the core business of SpectraA Technology Solutions Limited?

SpectraA Technology Solutions Limited is an engineering company engaged in designing, fabricating, installing, commissioning, and decommissioning greenfield and brownfield projects for industries such as breweries, distilleries, food & beverages, malt spirit, extraction, and pharmaceuticals.

How will the proceeds from the IPO be utilized?

The net proceeds from the fresh issue will be used for capital expenditure at the Jaipur manufacturing facility (₹11.00 crore), repayment of term loans (₹6.48 crore), working capital requirements (₹9.50 crore), and general corporate purposes.

What is the company's order book as of the latest disclosed date?

As of August 31, 2026, the company had an order book of ₹81.30 crore, covering projects across breweries, distilleries, malt spirit, extraction, food & beverage, and customised processing.

What are the key customer concentration risks highlighted in the prospectus?

The top 10 customers contributed 72.37% of revenue in FY26, 61.91% in FY25, and 65.60% in FY24, indicating significant reliance on a limited customer base.

What manufacturing facilities and capabilities does the company possess?

The company operates two manufacturing facilities in Bengaluru and Jaipur with a total built-up area of 33,214.75 sq ft and a 100 kWp rooftop solar capacity. It undertakes in-house fabrication including cutting, rolling, welding, passivation, pressure testing, and factory acceptance testing, and is ISO 9001:2015 certified.

What is the company's debt position and related liquidity concerns?

As of August 31, 2026, total outstanding borrowings stood at ₹22.98 crore. Additionally, trade receivables were ₹44.47 crore as of March 31, 2026, which could affect cash flows if collections are delayed.

View IPO
View IPO
Home›India›SpectraA Technology ()
SpectraA Technology Logo

SpectraA TechnologyNSE SME / BSE SME:

Analyzed by ViewIPO Financial Research Team
Industrial EngineeringIndiaFiled 2026-09-17Listing 2026-09-24Size ₹42.33Cr
Lot Size 1200
Live GMP
₹50 (+42.37%)
Check Allotment
Status Link

Is SpectraA Technology IPO Good? Quick Verdict

SpectraA Technology IPO scored 56/100 (High Risk) in our deep analysis. The strongest pillar is Financial at 65/100, while Competition is the primary concern at 35/100. SpectraA Technology Solutions Limited shows improving profitability and a diversified geographical footprint, but faces significant customer and supplier concentration risks along with moderate debt levels, resulting in a cautious outlook.

IPO Score
56/100
High Risk

Quick Verdict

The company operates manufacturing facilities in Bengaluru and Jaipur, serving customers across 19 states and three Union Territories with exports to 10 countries.
In-house fabrication capabilities and ISO 9001:2015 certification ensure quality control and reduce reliance on external vendors.
Consistent growth in profit after tax, rising from ₹2.00 crore in FY24 to ₹11.56 crore in FY26.
Revenue is highly concentrated, with top 10 customers contributing 72.37% of FY26 revenue, posing customer concentration risk.
Supplier concentration is significant, with top 10 suppliers accounting for 50.94% of purchases in FY24, increasing supply chain vulnerability.
Outstanding borrowings of ₹22.98 crore as of August 2026 and high trade receivables (₹44.47 crore) elevate liquidity and credit risk.

Company Snapshot

Revenue (TTM)
₹101Cr↑ 34.36% YoY
Profitability
PositiveNet Income ₹11.56Cr
Gross Margin
— 
Market Cap
—Pending Data
IPO Size
₹42.33Cr 
Industry
Industrial Engineering 
P/E Ratio
—Pending Data

Risk Breakdown

Governance
60
Moderate
Financial
65
Moderate
Valuation
50
Expensive
Competition
35
High Risk
Dilution
60
Moderate
Promoter / Mgmt
60
Moderate

AI Summary

SpectraA Technology Solutions Limited is an engineering firm specializing in the design, fabrication, installation, commissioning, and decommissioning of greenfield and brownfield projects for industries such as breweries, distilleries, food & beverages, and pharmaceuticals. The company operates two manufacturing facilities in Bengaluru and Jaipur and reported a profit after tax increase from ₹2.00 crore in FY24 to ₹11.56 crore in FY26, driven by higher-margin product focus. However, its revenue remains highly concentrated, with the top 10 customers contributing over 72% of FY26 sales, and it relies on a limited supplier base, posing notable concentration risks. The IPO aims to raise ₹42.52 crore to fund capital expenditure, debt repayment, and working capital needs.

Overall Verdict: SpectraA Technology Solutions Limited shows improving profitability and a diversified geographical footprint, but faces significant customer and supplier concentration risks along with moderate debt levels, resulting in a cautious outlook.

Key Highlights

  • •Incorporated in January 2009, converted to public limited in February 2021.
  • •Two manufacturing facilities in Bengaluru and Jaipur with total built-up area of 33,214.75 sq ft and 100 kWp rooftop solar capacity.
  • •Order book of ₹81.30 crore as of August 31, 2026, spanning breweries, distilleries, malt spirit, extraction, food & beverage, and custom processing.
  • •Revenue from operations: ₹88.96 crore (FY24), ₹75.17 crore (FY25), ₹101.16 crore (FY26); PAT grew from ₹2.00 crore to ₹11.56 crore over the same period.
  • •In-house fabrication covering cutting, rolling, welding, passivation, pressure testing, and factory acceptance testing, with 100% FAT success ratio and no warranty claims in the past three years.
  • •Technical staff constitute 90% of workforce, with experienced management and technical teams.
  • •ISO 9001:2015 certified quality processes spanning raw-material inspection to site handover.

Financial Performance

Revenue (Annual)

↑ +34.4% YoY

INR in Crores

Net Income (Annual)

↑ +135.4% YoY

INR in Crores

EBITDA vs PAT

EBITDA YoY

INR in Crores

EBITDA
PAT

IPO Timeline

IPO Opens2026-09-17
IPO Closes2026-09-21
Basis of Allotment2026-09-22
Refunds & Demat2026-09-23
Listing Date2026-09-24

Valuation Analysis

IPO Price₹112 - ₹118
Estimated Fair Value
Pending Data
Valuation Premium
Pending
vs Fair Value

IPO DNA

Growth
50
Governance
60
Profitability
65
Valuation
50
Competition
35
Execution
60

Pros vs Cons

Pros

  • Manufacturing facilities in Bengaluru and Jaipur with pan-India installation footprint and export presence.
  • In-house fabrication capabilities and ISO 9001:2015 certification ensuring quality control.
  • Strong profit after tax growth from ₹2.00 crore (FY24) to ₹11.56 crore (FY26).
  • Order book of ₹81.30 crore as of August 2026 providing near-term revenue visibility.
  • Technical employees represent 90% of workforce, indicating strong engineering capability.

Cons

  • High customer concentration: top 10 customers contributed 72.37% of FY26 revenue.
  • Significant supplier concentration: top 10 suppliers accounted for 50.94% of purchases in FY24.
  • Geographic revenue concentration in select states (Maharashtra, Goa, Uttarakhand, Karnataka, Uttar Pradesh, West Bengal, Odisha, Sikkim).
  • Outstanding borrowings of ₹22.98 crore as of August 2026 and high trade receivables (₹44.47 crore).
  • Operating in a competitive and fragmented market with potential pricing pressure.

Financial Health

Revenue Growth
Revenue increased 13.5% from FY24 to FY26 (CAGR ~6.5%) (Moderate)
Debt Level
Total outstanding borrowings ₹22.98 crore as of August 2026 (Moderate)

Institutional Signals

Anchor Investors
Undisclosed

SpectraA Technology IPO Reddit Pulse & Sentiment

Real-time Reddit discussions & retail sentiment

No Public Data Available

We couldn't find any significant public discussions or retail sentiment threads for this IPO at the moment.

Disclaimer: These are raw community discussions aggregated from public forums. The AI summary and Reddit comments do not constitute financial advice. Always conduct your own independent research.

SpectraA Technology IPO — Frequently Asked Questions

Related IPO Reports

Sonaselection

Sonaselection

SONA
61/100
View Report
Kheria Autocomp

Kheria Autocomp

KHERIAAUTO
61/100
View Report
NSE

NSE

NSE
51/100
View Report
Hero Motors

Hero Motors

HEROMOTORS
56/100
View Report
SS Retail

SS Retail

SSRETAIL
64/100
View Report
View All Active & Upcoming IPOs View IPO Calendar

IPO Terminology Explained

Confused by terms like GMP, Kostak, or Subject to Sauda? Read our detailed guides in the IPO Glossary to understand the terminology before you invest.

Grey Market Premium (GMP)Subject to SaudaASBAOffer for Sale (OFS)
View Full Glossary

Source Citation: All financial data and risk metrics are derived from the official prospectus filed with the regulator (SEBI DRHP/RHP). ViewIPO algorithms process this public data for informational purposes. Not financial advice.

Want to analyze another IPO?

Search any stock, IPO, company, ticker or filing and get instant AI-powered analysis.

Frequently Asked Questions about SpectraA Technology

What is the expected listing price of SpectraA Technology?

The expected listing price depends on the live Grey Market Premium. Check the live GMP and expected listing price for SpectraA Technology on our Live GMP Tracker.