The IPO is priced in a band of Rs 88 to Rs 93 per share, with a lot size of 1,200 shares. At the upper end of the price band, the company is valued at about Rs 161 crore. Market participants tracking unofficial trades said the grey market premium was flat, indicating a GMP of 0%, suggesting expectations of a subdued listing without immediate gains.
The public issue comprises a fresh issue of shares worth Rs 34.13 crore and an offer for sale of Rs 8.46 crore by existing shareholders. Proceeds from the fresh issue will be used primarily to fund working capital requirements, purchase equipment and machinery, and meet general corporate expenses. The offer will close on Friday, December 19, with allotment expected on December 22 and listing tentatively scheduled for December 24.
MARC Technocrats operates as an infrastructure consultancy firm, providing services such as supervision and quality control, detailed project reports, techno-financial audits, and pre-bid advisory services. Incorporated in 2007, the company largely follows a business-to-government model, with most of its revenue coming from contracts with government departments and agencies such as the Ministry of Road Transport and Highways, NHAI, NHIDCL, state PWDs and the Railways.
The company’s service portfolio spans road and highway projects, railways, buildings, and water resource infrastructure. It currently employs 181 people and positions itself as a consultancy that supports infrastructure projects from concept to commissioning.
Financially, MARC Technocrats has reported sharp growth over the past two years. Revenue rose 80% between FY24 and FY25, while profit after tax increased 117% during the same period. For FY25, the company posted total income of Rs 48.56 crore and a PAT of Rs 7.48 crore.
The issue is being managed by Narnolia Financial Services as the book-running lead manager, with Maashitla Securities acting as registrar. Giriraj Stock Broking has been appointed as the market maker.With a flat grey market premium and growing investor caution around SME IPOs, the performance of MARC Technocrats on listing day is likely to depend on subscription trends over the next two days and broader sentiment toward infrastructure-linked stocks.
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