Marushika Technology IPO 2026: Price Band, GMP, Subscription Status & Key Dates

The Marushika Technology IPO opened for public subscription on 📅 12 February 2026, marking an exciting entry in the Indian tech IPO landscape. The company, known for its focus on software products and digital solutions, has garnered attention from both retail and institutional investors seeking exposure to emerging tech players. The IPO’s performance will be closely watched as it reflects current market sentiment toward technology-oriented small and mid-cap offerings.

The issue has been priced in a band of ₹117 to ₹123 per equity share, with a face value of ₹10. Investors were invited to apply in multiples of 1,150 shares, making the minimum investment required at the upper price band approximately ₹1,41,450. The pricing strategy aims to balance accessibility for retail investors with adequate valuation for promoters and early backers. Positioned as a mainboard listing, Marushika Technology’s IPO has drawn interest from diverse investor groups.

One of the most eagerly tracked metrics ahead of the public subscription was the Grey Market Premium (GMP), an unofficial indicator of how the IPO shares are being valued in pre-listing trading. In the days leading up to the issue, Marushika Technology’s GMP showed positive momentum, with unofficial numbers indicating a premium over the IPO price band. This suggested a degree of confidence among grey market participants, potentially signaling expectations of listing gains once the shares begin trading on the stock exchanges.

According to aftermarket trackers, the GMP ranged between ₹10 to ₹15 above the IPO price during the initial bidding days, reflecting tentative optimism among traders. However, GMP levels can fluctuate significantly as the subscription progresses, and they are not a guaranteed predictor of listing performance. Investors were advised to consider GMP alongside core fundamentals and the company’s growth outlook rather than relying solely on aftermarket premiums.

The subscription window for the Marushika Technology IPO was scheduled to remain open until 📅 16 February 2026, giving investors a five-day opportunity to participate through their brokers using ASBA or UPI payment methods. Subscription activity indicated broad-based participation, with retail investors and high-net-worth individuals showing keen interest. Early subscription data suggested a steady build-up, although detailed category-wise figures were pending as of mid-subscription updates available in market reports.

Marushika Technology operates in a competitive software and digital products ecosystem, offering solutions designed to meet the evolving needs of businesses in automation, data analytics, enterprise resource planning (ERP) and digital transformation services. Its focus on innovation and scalable technology stacks has positioned the company to benefit from the accelerating digitisation trends across sectors such as finance, retail, healthcare and logistics.

Investors and market participants were also closely watching broader IPO trends during this period, comparing Marushika Technology’s performance with other issues like Aye Finance and Fractal Analytics. While some larger IPOs experienced subdued subscription patterns, Marushika Technology’s relatively positive GMP and steady subscription trajectory indicated that smaller tech-focused issues were still able to attract interest, especially when backed by compelling business models and achievable growth strategies.

The basis of allotment for the Marushika Technology IPO was expected to be declared on 📅 18 February 2026, shortly after the close of the subscription period. Following this, successful applicants would see **allotted shares credited to their Demat accounts on 📅 19 February 2026, with unsuccessful applicants receiving refunds around the same date. The listing on both BSE and NSE was anticipated in the week following credit of shares, giving investors the first opportunity to trade on the public markets.

Overall, the Marushika Technology IPO 2026 captured the attention of investors looking for growth potential in the technology sector, balancing an accessible price band with promising aftermarket indicators. With key dates lined up and early GMP trends showing positive signals, the IPO was positioned as a noteworthy event in the 2026 Indian primary market cycle.