Paluck Technologies Shares List at 2.5% Discount, Hit Lower Circuit

Paluck Technologies Limited shares made a weak stock market debut on September 4, 2026, listing below the upper end of the IPO price band on the Bombay Stock Exchange (BSE). The stock listed at ₹46.80 per share, representing a discount of 2.50% to its IPO issue price of ₹48.

Selling pressure intensified following the listing, with Paluck Technologies shares hitting the 5% lower circuit at ₹44.46 per share.

The listing followed the company’s ₹33 crore IPO, which was open for subscription from August 28 to September 1, 2026. The issue had a price band of ₹46-₹48 per equity share and witnessed strong investor demand, with an overall subscription of 271.68 times.

Paluck Technologies’ IPO consisted entirely of a fresh issue of 68.76 lakh equity shares, with no offer-for-sale (OFS) component. The retail portion was subscribed 372.67 times, while the non-institutional investor (NII) category received 286.74 times subscription.

New Delhi-based Paluck Technologies operates as an information technology infrastructure provider, offering enterprise networking, system integration, software development, cloud consulting and cybersecurity solutions.

Paluck Technologies IPO Listing Details

Paluck Technologies launched its IPO with a price band of ₹46-₹48 per equity share. The IPO opened for subscription on August 28 and closed on September 1, 2026, receiving an overall subscription of 271.68 times.

The ₹33 crore public issue consisted entirely of a fresh issue of 68.76 lakh equity shares, with no OFS component.

The IPO had a retail lot size of 3,000 equity shares, requiring a minimum investment of ₹1,38,000 based on the lower end of the price band. The basis of allotment was finalised on September 2, 2026.

Paluck Technologies subsequently made its stock market debut on September 4 at ₹46.80 per share on the BSE, representing a discount of 2.50% to the issue price of ₹48. Following the listing, the stock came under selling pressure and hit its 5% lower circuit at ₹44.46.

• Issue Price: ₹48 per share
• IPO Price Band: ₹46-₹48 per share
• BSE Listing Price: ₹46.80 per share
• Listing Discount: 2.50%
• Lower Circuit Price: ₹44.46 per share
• Fresh Issue: 68.76 lakh shares
• Total Issue Size: ₹33 crore
• Offer for Sale: Nil
• Lot Size: 3,000 shares
• Minimum Investment: ₹1,38,000
• Overall Subscription: 271.68 times
• NII Subscription: 286.74 times
• Retail Subscription: 372.67 times

Shreni Shares Limited served as the sole book-running lead manager, while Bigshare Services Private Limited was the registrar to the issue.

First-Day Trading Performance

Listing Price: Paluck Technologies share price debuted at ₹46.80 per share on the BSE against the IPO issue price of ₹48, translating into a listing discount of 2.50%.

Selling pressure emerged following the listing, with the stock falling to its 5% lower circuit at ₹44.46 per share.

The weak market debut came despite strong demand for the company’s IPO. The issue, which was open for bidding from August 28 to September 1, 2026, was subscribed 271.68 times overall.

Retail investors led the demand, with their reserved portion subscribed 372.67 times. The non-institutional investor category was subscribed 286.74 times.

The listing performance reflected a contrast between the strong primary-market subscription and the selling pressure seen in the stock following its market debut.

Growth Drivers and Challenges

Growth Drivers

Strong IPO Demand: Issue received 271.68 times subscription.

Growing Profitability: PAT increased to ₹13.84 crore.

Improving EBITDA: EBITDA reached ₹23.93 crore in 2026.

Lower Borrowings: Total debt declined to ₹13.17 crore.

Diversified IT Services: Offers networking, cloud and cybersecurity solutions.

Challenges

Weak Market Debut: Shares listed below issue price.

Post-Listing Pressure: Stock hit 5% lower circuit.

Competitive IT Market: Operates in competitive technology services industry.

B2B Dependence: Business primarily relies on enterprise clients.

Execution Requirements: Technology projects require effective service delivery.

Utilisation of IPO Proceeds

Paluck Technologies’ ₹33 crore IPO consisted entirely of a fresh issue of 68.76 lakh equity shares.

Unlike an offer for sale, the public issue involved the issuance of new equity shares by the company, with no OFS component.

The public issue comprised:

• Fresh issue of 68.76 lakh equity shares
• Total IPO size of ₹33 crore
• No offer-for-sale component
• IPO price band of ₹46-₹48 per share

Specific details regarding the proposed utilisation of the fresh issue proceeds were not included in the information provided.

Business and IPO Overview

Incorporated in 2018, Paluck Technologies Limited is a New Delhi-based information technology infrastructure provider specialising in enterprise networking, system integration and software development solutions.

The company’s service portfolio includes custom corporate intranets, hardware procurement, cloud consulting and end-to-end cybersecurity system implementation. Its business model is primarily focused on B2B infrastructure services for mid-sized domestic clients across multiple sectors.

Paluck Technologies also provides corporate data centre optimisation, managed IT helpdesk frameworks and Software-as-a-Service (SaaS) application deployment. Its client segments include commercial engineering complexes, logistics providers and state-backed educational councils.

The company reported total revenue of ₹105.09 crore for the period ended February 28, 2026, compared with ₹102.90 crore for the period ended March 31, 2025. Profit after tax increased to ₹13.84 crore from ₹9.63 crore, while EBITDA rose to ₹23.93 crore from ₹18.99 crore.

Net worth stood at ₹45.66 crore, while total borrowings declined to ₹13.17 crore from ₹17.49 crore in the preceding period.

The company entered the public markets through a ₹33 crore IPO consisting entirely of a fresh issue of 68.76 lakh equity shares. The issue was open for subscription from August 28 to September 1, 2026, with a price band of ₹46-₹48 per share.

The IPO received strong investor participation and was subscribed 271.68 times overall. The retail category was subscribed 372.67 times, while the NII portion received 286.74 times subscription.

Despite the strong IPO demand, Paluck Technologies made a weak stock market debut on September 4, listing at ₹46.80 per share on the BSE against its ₹48 issue price, representing a discount of 2.50%. The stock subsequently came under further selling pressure and hit its 5% lower circuit at ₹44.46 per share.