PNN

Hyderabad (Telangana) [India], June 1: Merritronix Ltd. is a 36-year-old electronics manufacturing company specialising in defence and aerospace applications. The company is hitting the capital markets with a 100% fresh issue IPO of up to 47 lakh equity shares on BSE SME, aiming to raise 70.03 Cr at a price band of 141-149 per share (lot size: minimum 2,000 shares and in multiples of 1,000 equity shares thereafter).

The IPO proceeds are proposed to be utilised primarily towards machinery capex, working capital requirements, and repayment of debt. The anchor investor date is May 29, 2026, and the issue will be open for public subscription from June 01 to June 03, 2026.

The company is backed by Madhu Kela through Founders Collective Fund, which holds a 3.61% stake in Merritronix Ltd.

Book Running Lead Manager: GYR Capital Advisors Private Limited

Issue Structure

- Total Issue Size: Up to 47.00 lakh equity shares (100% fresh issue) - Market Maker Portion: Up to 2.36 lakh equity shares - Anchor Investor Portion: Up to 13.36 lakh equity shares - Net QIB Portion: Up to 8.92 lakh equity shares - Non-Institutional Investors: Not less than 6.72 lakh equity shares - Retail Individual Investors: Not less than 15.64 lakh equity shares

About Merritronix Merritronix is led by Managing Director Mr. Dovari Amarnath, a Computer Science Engineering graduate from IIT Madras with over three decades of experience in the electronics manufacturing industry.

Incorporated in 1988 and headquartered in Hyderabad, Telangana, Merritronix operates from the Electronic Complex, Kushaiguda, offering end-to-end ESDM services - PCB design, SMT/THT assembly, component sourcing, testing, and logistics - with a sharp focus on mission-critical defence and aerospace applications. The company holds long-standing approvals with BEL (since 2009) and HAL (since 2012), exports to Europe via Honeywell Aerospace since 2008, and has executed programmes spanning missile seeker assemblies, airborne radar systems, and defence aircraft DVRS.

- Obsolescence management & reverse engineering - Specialises in keeping legacy defence systems operational through FFF replacements and system redesign- CERN vendor via TIFR - Selected as a vendor for CERN projects routed through TIFR- EN 9100:2018 certified - The globally recognised quality standard for aerospace and defence manufacturing, equivalent to AS9100D and JISQ 9100:2016. A mandatory prerequisite for most aerospace supply chains globally

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