Marushika Technology IPO Day 3 Update 2026: Subscription Status, GMP Trend and What Investors Should Know

The Marushika Technology IPO continued its subscription journey in 2026, entering its third day with solid participation and notable market interest. Investors closely monitored subscription numbers, grey market premium (GMP) trends, and category-wise demand as the IPO progressed toward the close of its bidding period. With early signs of strong subscription, many prospective investors were keen to understand how this SME issue is being received compared to other small and medium enterprise offerings this year.

The Marushika Technology IPO opened for public subscription on 12 February 2026 and is set to close on 16 February 2026. The issue price band was fixed between ₹111 and ₹117 per share, and the minimum lot size is 1,200 shares, resulting in a minimum investment of about ₹1,40,400 at the upper end of the price band. The total issue size of the IPO is approximately ₹26.97 crore, and it is being offered on the NSE SME platform, which provides a platform for smaller companies to raise capital and list their shares.

On Day 1 and Day 2 of the subscription, the Marushika Technology IPO recorded strong bid activity, with early subscription figures indicating robust interest from retail investors. Moving into Day 3, this trend continued, and the subscription numbers began to reflect a build-up in demand across key investor categories. Retail individual investors were particularly active, often showing full subscription in their allocated portion, while non-institutional and qualified institutional categories also contributed to the rising tally.

Market watchers also tracked the grey market premium (GMP) to assess sentiment around the IPO’s expected listing performance. Grey market premium acts as an unofficial gauge of how investors believe the share price might move on listing day relative to the issue price. For the Marushika Technology IPO, the GMP remained positive across the first three days of bidding, signaling that some market participants anticipate a favorable listing outcome. Although GMP does not guarantee actual market performance, a positive trend is generally viewed as a bullish indicator in early subscription phases.

By Day 3 of the subscription period, the Marushika Technology IPO saw an increase in overall subscription, with the retail segment remaining fully subscribed and contributions from institutional categories adding to the momentum. While detailed final subscription figures were still pending as the issue continued, early responses suggested that the IPO might close with strong subscription totals if the trend persisted through the remaining days of bidding.

Investors tracking the Marushika Technology IPO should also be aware of category-wise subscription numbers, as oversubscription in specific segments can influence allotment ratios and impact the chances of receiving shares. For example, a heavily oversubscribed retail portion may lead to a proportional allotment in that category, reducing the number of shares allotted per applicant. On the other hand, steady institutional interest helps balance the subscription profile, potentially leading to smoother allotment outcomes.

As the Marushika Technology IPO reaches its final days of subscription through 16 February 2026, investor focus is expected to remain on both overall and category-wise demand as well as grey market trends. Post-subscription, the allotment basis is typically finalized a day or two after the close of the issue, and allotted shares are credited to successful applicants’ demat accounts ahead of the listing date. With the anticipated listing likely scheduled for a few days post allotment, early subscription trends offer useful insights into how the IPO might perform on debut.

In summary, the Marushika Technology IPO 2026 showed growing subscription intensity by Day 3, backed by positive retail participation and sustained grey market premium signals. With the price band of ₹111 to ₹117 per share, a minimum application of ₹1,40,400, and a total issue size of ₹26.97 crore, the IPO has drawn attention from a broad investor base. As the issue moves closer to closing on 16 February 2026, tracking final subscription figures and GMP developments will help investors make informed decisions ahead of the allotment and listing phases.