Overview
Updated 12 days agoSpectraA Technology Solutions Limited is an engineering-led original equipment manufacturer specializing in turnkey projects for breweries, distilleries, and food and beverage industries. The company is raising funds through a fresh issue of 32,55,600 equity shares and an offer for sale of 3,48,000 equity shares, with the proceeds primarily intended for capital expenditure at its Jaipur facility and working capital requirements.
The red bar is the price band. GMP-implied price is an unofficial grey-market number, not a forecast.
How much to apply
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,41,600 |
| bNII (min) | 8 | 9,600 | ₹11,32,800 |
At the upper band. The amount is blocked in your bank account through UPI, not paid, until allotment.
Final subscription
As of 31 Oct, 16:42 ISTTimes the shares on offer were bid for, by investor category. Above 1x means the category is fully booked.
Listing performance
Latest price updated 5 hr ago.
Issue details
| Status | Listed |
| Exchange | NSE |
| Segment | SME |
| Price band | ₹112–118 |
| Final issue price | ₹118.00 |
| Face value | ₹10 per share |
| Lot size | 1,200 shares |
| Minimum investment | ₹1,41,600 |
| Issue size | ₹43.00 Cr |
| Market cap at upper band | ₹162 Cr |
| P/E at upper band | 10.3x |
| Registrar | MAASHITLA SECURITIES PRIVATE LIMITED |
| Lead managers | INDCAP ADVISORS PRIVATE LIMITED |
| NSE symbol | SPECTRAA |
| ISIN | INE0GAN01010 |
Shareholder quota and promoter holding
Company & business
SpectraA Technology Solutions Limited, incorporated in 2009, is an engineering-led original equipment manufacturer that provides turnkey solutions for breweries, distilleries, and food and beverage industries. The company's services include design, fabrication, installation, and commissioning of process equipment, skids, and automation systems. It operates two manufacturing facilities in Bengaluru and Jaipur. The company's product portfolio includes commercial brewery equipment, distillery equipment, food and beverage plants, microbrewery equipment, malt spirit equipment, and extraction plants. The company has a diverse customer base across India and select international markets, focusing on high-margin turnkey projects.
Objects of the issue — how the money will be used
- Capital Expenditure at Jaipur manufacturing facility (₹11 Cr)
- Repayment of Term Loans (₹6.48 Cr)
- Working Capital requirements (₹9.5 Cr)
- General Corporate Purposes
Key strengths
- Geographical advantage of two manufacturing facilities
- In-house product fabrication capabilities
- Diversified and sustainable order book
- Strong quality control and compliance framework
- Experienced leadership and skilled technical team
Key risks
- Significant revenue dependence on a limited number of customers
- Dependence on a limited number of suppliers for raw materials
- Working capital intensive business with substantial trade receivables
- Inability to locate the Consent to Establish for the Jaipur manufacturing unit
- Geographical concentration of revenue in specific Indian states
- Operating primarily in the beer and malt spirit industry, which is subject to regulatory risks
- History of delays in statutory filings and discrepancies in records
Promoters
A L Arun Kumar, Sailaja Arun Kumar, Praveen Kumar Appukuttan Nair Leela, Divya Praveen
Decoded from the RHP with AI on 01-Nov-2026. Check the offer document before you apply.
Financials (restated, ₹ crore)
| Period | Revenue | Expenses | Profit after tax | Assets | Net worth | Borrowings |
|---|---|---|---|---|---|---|
| FY24 | 88.96 | -- | 2.00 | 66.64 | 8.18 | 14.19 |
| FY25 | 75.17 | -- | 4.91 | 100.00 | 13.12 | 17.21 |
| FY26 | 101.16 | -- | 11.56 | 106.29 | 24.81 | 26.96 |
Key performance indicators · FY26
Peers & valuation
Listed peers as chosen by the issuer in the offer document (Basis for Issue Price).
| Company | Revenue (₹ Cr) | EPS (₹) | P/E | RoNW % | NAV (₹) |
|---|---|---|---|---|---|
| SpectraA Technology Solutions this issue | 101.2 | 11.45 | 10.3x | 60.95 | 24.58 |
| Praj Industries Limited | 3,218.2 | 1.30 | 258.9 | 1.82 | 71.23 |
This issue is priced at 10.3x P/E against a peer median of 258.9x: a discount of 96%. A measurement, not a verdict.
Documents and resources
Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.