SpectraA Technology Solutions IPO
SpectraA Technology Solutions IPO is an SME IPO raising ₹43 Cr at ₹112 – ₹118 a share. It listed on 24 Sept 2026 at ₹224, +90.0% against its issue price of ₹118, and trades at ₹232 today (+96.8% since issue). It was subscribed 353× in total.
352.6 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs118. Checked: exchange issue size Rs43 Cr vs derived Rs42.5 Cr (1.2% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 96% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| Spectraa Technology Solutions Limited | — | 46.59% | ₹11.45 |
| Praj Industries Limited | 258.89× | 1.82% | ₹1.3 |
| This issue | 10.3× | 46.59% | ₹11.45 |
derived: cut-off price Rs118 / stated EPS Rs11.45 (FY ended March 31, 2026, Basic and Diluted EPS post-bonus (Restated Consolidated Financial Statements)). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.