SpectraA Technology Solutions IPO
SpectraA Technology Solutions IPO Details
-
Open Date
17 Sep 2026
-
Close Date
21 Sep 2026
- IPO Price Range
₹ 112 to ₹118
- IPO Size
₹ 42.52 Cr
SpectraA Technology Solutions IPO Timeline
Last Updated: 16 September 2026 5:39 AM by 5paisa
SpectraA Technology Solutions Limited is an engineering-led company that undertakes greenfield and brownfield projects across breweries, craft and microbreweries, distilleries, food and beverages, malt spirit and blending, extraction plants, FMCG and pharmaceuticals. Its capabilities span engineering, designing, fabrication, installation, commissioning and decommissioning, with projects managed from design through handover.
The company manufactures key equipment in-house and operates facilities at Malur in Karnataka and Chomu near Jaipur in Rajasthan, with a combined built-up area of approximately 33,214.75 sq. ft. Its product portfolio includes commercial brewery equipment, distillery equipment, food and beverage plants, microbrewery systems, malt spirit equipment and extraction plants.
Established in: 2009
Managing Director: A L Arun Kumar
Peer: Praj Industries Limited
The company was incorporated on January 20, 2009. A L Arun Kumar serves as Chairman and Managing Director. The RHP identifies Praj Industries Limited as its only listed industry peer for broad comparison, while noting that it is not strictly comparable in terms of business nature, range, turnover and size.
SpectraA Technology Solutions Objectives
1. Capital expenditure at the Jaipur manufacturing facility
2. Repayment of term loans availed by the Company
3. Meeting working capital requirements
4. General corporate purposes
5. Offer expenses
SpectraA Technology Solutions IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹42.52 Cr |
| Offer For Sale | ₹4.11 Cr |
| Fresh Issue | ₹38.42 Cr |
SpectraA Technology Solutions IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 2,68,800 |
| Retail (Max) | 2 | 2,400 | 2,83,200 |
| S-HNI (Min) | 3 | 3,600 | 4,03,200 |
| S-HNI (Max) | 7 | 8,400 | 9,91,200 |
| B-HNI (Min) | 8 | 9,600 | 11,32,800 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 88.96 | 75.17 | 101.16 |
| EBITDA | 4.48 | 10.13 | 19.26 |
| PAT | 2.00 | 4.91 | 11.56 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 66.64 | 100.00 | 106.29 |
| Share Capital | 1.12 | 1.12 | 10.09 |
| Total Liabilities | 58.34 | 86.74 | 81.32 |
| Particulars (In ₹Crores.) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (used in) Operating Activities | -0.62 | -0.60 | -7.98 |
| Net Cash Generated From / (used in) Investing Activities | -2.04 | -4.48 | -8.86 |
| Net Cash Generated From / (used in) Financing Activities | 1.87 | 0.85 | 5.79 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 0.45 | -3.02 | 4.92 |
Strengths
1. Two manufacturing facilities in Karnataka and Rajasthan provide geographical reach across southern, western and northern markets.
2. In-house fabrication capabilities allow the company to manufacture and test key process equipment internally.
3. The company operates across multiple process-industry segments, including breweries, distilleries, food and beverages, FMCG and pharmaceuticals.
4. Its FY26 financial performance showed higher revenue, EBITDA and PAT, along with improved operating margins.
Weaknesses
1. Revenue remains concentrated among a limited number of customers; the top 10 customers contributed 65.60% of FY26 revenue from operations.
2. The business has sizeable working-capital requirements, including substantial trade receivables.
3. SpectraA depends on a relatively concentrated supplier base for raw materials and components.
4. Its project-execution model depends on retaining skilled engineers, technical personnel and experienced management.
Opportunities
1. Growth in India's premium, craft and artisanal beverage segments can support demand for brewing and distillation equipment.
2. Increasing adoption of modular, automated and energy-efficient systems creates opportunities for engineering and equipment suppliers.
3. Sustainability initiatives in breweries and distilleries are increasing demand for solutions that reduce energy and water usage.
4. A wider international presence can provide another avenue for order-book diversification; international orders represented 56.32% of the company's FY26 order book.
Threats
1. Changes in state-level alcohol regulations or restrictions on liquor production and consumption could affect demand from brewery and distillery clients.
2. Competition in the beer and malt-spirit equipment industry remains intense, with suppliers competing on technology, efficiency, scalability and after-sales support.
3. High capital and operating costs for breweries and distilleries may delay customers' investment in new equipment.
4. Disruptions at either of the company's two manufacturing facilities could affect production and project execution.
1. SpectraA provides end-to-end engineering and project execution, covering design, fabrication, installation and commissioning.
2. Its two manufacturing facilities provide a broader manufacturing and service footprint across different regions of India.
3. Revenue from operations grew 34.58% year-on-year in FY26, while EBITDA and PAT margins also improved.
4. The company participates in an equipment market supported by expansion in craft beverages, premiumisation and greater adoption of modern, automated and energy-efficient process systems.
India's beer and malt-spirit equipment market was valued at USD 204.08 million in 2024 and, according to the industry report reproduced in the RHP, is projected to reach USD 302.28 million by 2032. Demand is being shaped by the expansion of microbreweries, premiumisation in alcoholic beverages and greater adoption of automation, process controls and energy-efficient systems.
Modern breweries and distilleries are increasingly moving towards modular equipment, advanced filtration and cooling systems, automated packaging and technologies aimed at reducing energy and water consumption. SpectraA operates across several parts of this equipment ecosystem and also serves adjacent process industries such as food and beverages and pharmaceuticals, potentially broadening the addressable market beyond brewing and distillation alone.
- Companies
- Type
- Opening On
-
Kheria Autocomp
- SME
- 17th Sep
- Pre-Book
-
Sonaselection India
- Mainboard
- 17th Sep
- Pre-Book
NSE
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FAQs
SpectraA Technology Solutions IPO opens on September 17, 2026 and closes on September 21, 2026.
The SpectraA Technology Solutions IPO comprises up to 36,03,600 equity shares and aggregates to approximately ₹42.52 crore at the upper price band of ₹118 per share. This includes a fresh issue of approximately ₹38.42 crore and an Offer for Sale of approximately ₹4.11 crore.
The price band for the SpectraA Technology Solutions IPO has been fixed at ₹112 to ₹118 per equity share.
To apply for the SpectraA Technology Solutions IPO:
1. Login to your 5paisa demat account and select the issue under the current IPO section.
2. Enter the number of lots and the price at which you wish to apply.
3. Enter your UPI ID and submit the application. Your bid will then be placed with the exchange.
4. Approve the mandate received on your UPI app to block the required funds.
The minimum application is 2,400 shares, equivalent to two lots of 1,200 shares each. At the floor price of ₹112, the minimum application amount is ₹2,68,800; at the upper price band of ₹118, it is ₹2,83,200.
The basis of allotment for the SpectraA Technology Solutions IPO is scheduled to be finalised on September 22, 2026.
The shares are expected to commence trading on the NSE SME platform on September 24, 2026, subject to completion of the allotment and listing process.
Indcap Advisors Private Limited is the Book Running Lead Manager to the SpectraA Technology Solutions IPO. Maashitla Securities Private Limited is the registrar to the offer.
The fresh-issue proceeds are proposed to be used for capital expenditure at the Jaipur manufacturing facility, repayment of term loans, working capital requirements, general corporate purposes and offer-related expenses. The company will not receive proceeds from the Offer for Sale component.