SpectraA Technology IPO
Capital Goods-Non Electrical Equipment • ₹42.52 Cr
High risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- SME listing with thinner post-listing liquidity
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹118
Lot Size
1200 shares
Issue Size
₹42.52 Cr
Open
17 Sept 2026
Close
21 Sept 2026
Subscription
281×
IPO Schedule
| Issue Open Date | 17 Sept 2026 |
| Issue Close Date | 21 Sept 2026 |
| Allotment Date | 22 Sept 2026 |
| Listing Date | 23 Sept 2026 |
About SpectraA Technology
SpectraA Technology Solutions Limited is an engineering company involved in designing, fabrication, installation, commissioning and decommissioning of greenfield and brownfield projects. It serves industries including breweries, distilleries, food and beverages, malt spirit and blending, extraction plants, FMCG, and pharmaceuticals. Its products and systems include commercial brewery equipment, distillery equipment, food and beverage processing plants, microbrewery equipment, malt spirit equipment and extraction plants. The company undertakes projects covering engineering, fabrication, installation, commissioning and decommissioning, with equipment built in-house and customized to customer specifications. It operates two manufacturing facilities in Bengaluru and Jaipur, with an aggregate built-up area of 33,214.75 square feet. The company also has a rooftop solar capacity of 100 kWp installed across its Malur plant, Jaipur plant, and registered office. SpectraA Technology Solutions Limited was incorporated in Bengaluru in January 2009 as a private company and was converted into a public limited company in February 2021. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Capital Expenditure at Jaipur manufacturing facility — Rs 11.00 crore Repayment of term loans availed by the company — Rs 6.48 crore Working capital requirements — Rs 9.5 crore General corporate purposes.
Company Details
Founders / Promoters
Mr A L Arun Kumar
Founded
2009
Registrar
MSPL
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
SpectraA Technology — IPOFins Verdict
QuantitativeDriven by QIB demand at 184.6x and elevated disclosed risk (8/10), SpectraA Technology listed at a premium of 90.0% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- The company operates manufacturing facilities in Bengaluru and Jaipur, allowing it to cater to customers across southern, northern, and western India. As of the date of filing of the Red Herring Prosp
- The company claims to fabricate its equipment in-house, covering processes such as cutting, rolling, welding, passivation, pressure testing, and factory acceptance testing. This allows it to handle de
- As of August 25, 2026, the company had an order book of Rs 81.30 crore. The order book covers projects across breweries, distilleries, malt spirit, extraction, food and beverage, and customised proces
- The company serves customers across breweries, distilleries, malt spirit, extraction, food and beverage, and other processing industries. Its projects cover both greenfield and brownfield requirements
- The company states that it has not had any warranty claims during the period ended September 30, 2025, and the preceding three financial years. It also reported a 100% factory acceptance testing (FAT)
Score breakdown — what drove this verdict
High risk from DRHP → score -1.2
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → score +1.5
SME IPOs have lower liquidity after listing → score −0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹118
Listing Price
₹224.2
Listing Gain/Loss
+90.00%
Listing Date
23 Sept 2026
Price Since Listing
Returns are measured against the ₹118 issue price.
Listing
₹224.2
+90.0%
Want to buy this stock?
Trade SpectraA Technology on the secondary market
FAQ
What is the price band of SpectraA Technology IPO?
The price band is ₹118 per share with a lot size of 1200 shares. Minimum investment: ₹1,41,600.
What does SpectraA Technology do?
SpectraA Technology Solutions Limited is an engineering company involved in designing, fabrication, installation, commissioning and decommissioning of greenfield and brownfield projects. It serves industries including breweries, distilleries, food and beverages, malt spirit and blending, extraction plants, FMCG, and pharmaceuticals. Its products and systems include commercial brewery equipment, distillery equipment, food and beverage processing plants, microbrewery equipment, malt spirit equipment and extraction plants. The company undertakes projects covering engineering, fabrication, installation, commissioning and decommissioning, with equipment built in-house and customized to customer specifications. It operates two manufacturing facilities in Bengaluru and Jaipur, with an aggregate built-up area of 33,214.75 square feet. The company also has a rooftop solar capacity of 100 kWp installed across its Malur plant, Jaipur plant, and registered office. SpectraA Technology Solutions Limited was incorporated in Bengaluru in January 2009 as a private company and was converted into a public limited company in February 2021. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Capital Expenditure at Jaipur manufacturing facility — Rs 11.00 crore Repayment of term loans availed by the company — Rs 6.48 crore Working capital requirements — Rs 9.5 crore General corporate purposes.
Should I apply for SpectraA Technology IPO?
SpectraA Technology listed at ₹224.2 (+90.0% premium to the ₹118 issue price) after 281.4x subscription. IPOFins Score 7/10: Driven by QIB demand at 184.6x and elevated disclosed risk (8/10), SpectraA Technology listed at a premium of 90.0% to its issue price. SME listings are also thinner and more volatile after listing. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded SpectraA Technology?
SpectraA Technology was founded by Mr A L Arun Kumar in 2009.