In Progress
Valuation
Market Cap
₹231.00 Cr
P/E Ratio
11.35x
P/B Ratio
4.36x
Technocrats Plasma IPO Dates
Open
Close
Allotment
Refunds
Credit
Listing
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Business Overview
Technocrats Plasma Systems Limited, incorporated in 1994 and based in Vasai, Maharashtra, is an engineering-led manufacturer of plasma cutting machines, welding equipment and customised automation systems for metal fabrication and allied industries, serving automotive, construction, shipbuilding, heavy engineering and general manufacturing sectors. Its portfolio spans manual and CNC-controlled plate and pipe cutting systems, MIG/TIG/ARC/SAW and laser welding equipment, and cutting-and-welding automation lines, backed by consultancy, installation, commissioning and after-sales services. A vertically integrated, in-house design-and-build player, it has developed CNC profile-cutting systems and a 1000-ampere plasma power source, and is advancing laser-based cutting and welding. It sells through authorised dealers across India, with an emerging export presence in Africa.
Lots & IPO Size
Technocrats Plasma IPO Lot Size
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Ind (Min) | 2 | 2,000 | ₹2,64,000 |
| Ind (Max) | 2 | 2,000 | ₹2,64,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,96,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,24,000 |
| B-HNI (Min) | 8 | 8,000 | ₹10,56,000 |
Market Maker
₹2.31 L
Employee
₹0.00
Shareholder
₹0.00
Technocrats Plasma IPO Size
Total
₹61 Cr
Fresh Issue
₹61 Cr
(0.46 Cr
Shares)
Offer For Sale
₹0
(0.00
Shares)
Objects of the Issue
Purchase and installation of plant and machinery for manufacturing of plasma cutting machines, welding equipment and customised automation systems at existing premises
Funding towards long-term working capital requirements
General Corporate Purposes & Issue Expenses
Total
Key Risk Factors
A substantial portion of the company's revenue comes from its top 10 customers (62.61%, 83.89% and 55.70% in FY26, FY25 and FY24); loss of any such customer could significantly harm its business.
Key Risk Factors
A substantial portion of the company's revenue comes from its top 10 customers (62.61%, 83.89% and 55.70% in FY26, FY25 and FY24); loss of any such customer could significantly harm its business.
The company depends on a few suppliers for its material requirements and lacks definitive agreements or fixed terms of trade with most of them, which could adversely affect its business operations.
Any disruption in the supply, or increase in the pricing, of raw materials and finished products the company procures may adversely affect its business, cash flows and results of operations.
The company's revenues are significantly dependent on certain geographical regions, notably Maharashtra; adverse developments in these regions could adversely impact its business and financial condition.
The company's success depends on customer relationships, and it generally does not enter into long-term purchase contracts, exposing it to the risk of being unable to retain established customers.
The company's growth depends on executing its expansion strategy across new geographies and its dealer network; failure to manage this effectively could stagnate revenue growth and erode competitiveness.
The company requires various approvals, licenses and permits for its operations, and failure to obtain or renew them in a timely manner may adversely affect its business.
The company's manufacturing operations are concentrated in Maharashtra, exposing it to regional and local risks; any significant disruption there could materially affect its operations and cash flows.
The company's Statutory Auditor included certain qualifications in the Annexure to the Auditor's Report for the financial statements pertaining to FY 2022-23.
The company's net cash flows have been negative in some past years; any negative cash flow in the future may adversely affect its liquidity and financial condition.
Technocrats Plasma IPO Details Live GMP
GMP
₹12
Est. Price
₹144
Est. Gain
9.09%
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 12 Aug | ₹12 (9.1%) | ₹144 |
| 11 Aug | ₹28 (21.2%) | ₹160 |
Technocrats Plasma IPO Peer Comparison
(Rs. in crores)
| Particulars | Technocrats Plasma | Ador Welding | ESAB India | Patil Automation | Jyoti CNC |
|---|---|---|---|---|---|
| Revenue | 131.31 | 1,158.17 | 1,514.18 | 172.79 | 2,153.61 |
| PAT | 14.94 | 81.98 | 206.69 | 19.07 | 336.00 |
| EPS (₹) | 11.63 | 47.11 | 134.30 | 8.65 | 14.78 |
| NAV (₹) | 30.28 | 318.60 | 278.94 | 63.49 | 88.00 |
| RONW | 56.10% | 14.79% | 48.14% | 13.77% | 16.79% |
| EBITDA | 20.02% | 11.58% | 17.89% | 14.67% | 25.17% |
| PAT Mrgn | 11.37% | 7.19% | 13.70% | 11.45% | 16.05% |
| PE Ratio | 11.35 | 31.55 | 41.88 | 23.21 | 58.51 |
| Debt to Equity | 0.38 | - | - | 0.15 | 0.42 |
All information pertains to FY 2025-26. PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of August 6, 2026 for Peers
Technocrats Plasma IPO Financial Performance
(Rs. in crores)
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Revenue | 131.31 | 49.36 | 6.06 |
| PAT | 14.94 | 8.11 | 2.21 |
| Net Worth | 39.01 | 14.24 | 3.74 |
| Borrowings | 14.73 | 10.24 | 6.66 |
| Assets | 72.06 | 36.72 | 13.55 |
| NAV (₹) | 30.28 | 13.11 | 3.47 |
| EPS (₹) | 11.63 | 7.46 | 2.05 |
Key Performance Indicators (KPIs)
EBITDA
20.02%
PAT
11.37%
ROE
56.10%
ROCE
48.55%
Debt to Equity
0.38
All the data pertains to FY 2025-26. PE, PB, and market capitalization are calculated based on the Upper Price Band.
Technocrats Plasma IPO Financial Statements
(Rs. in crores)
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Revenue from Ops | 131.31 | 49.36 | 6.06 |
| Other Income | 0.10 | 0.08 | 0.29 |
| Total Income | 131.41 | 49.44 | 6.35 |
| Material Consumed | 112.69 | 44.41 | 2.32 |
| Changes in Inventories | -14.23 | -8.99 | -0.44 |
| Employee Expense | 2.73 | 1.73 | 1.28 |
| Finance Costs | 1.24 | 0.80 | 0.66 |
| Depreciation | 0.20 | 0.12 | 0.12 |
| Other Expenses | 3.83 | 3.62 | 1.61 |
| Total Expenses | 106.47 | 41.68 | 5.55 |
| Profit Before Tax | 24.94 | 7.76 | 0.81 |
| Tax Expense | 10.00 | -0.35 | -1.40 |
| Profit After Tax | 14.94 | 8.11 | 2.21 |
| EPS — Basic (₹) | 11.63 | 7.46 | 2.05 |
| EPS — Diluted (₹) | 11.63 | 7.46 | 2.05 |
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Equity Share Capital | 12.88 | 1.64 | 1.54 |
| Other Equity | 26.13 | 12.61 | 2.20 |
| Total Equity | 39.01 | 14.24 | 3.74 |
| Total Borrowings | 14.73 | 10.24 | 6.66 |
| Trade Payables | 11.24 | 8.88 | 1.02 |
| Short-Term Provisions | 5.20 | 0.67 | 0.33 |
| Other Liabilities | 1.88 | 2.69 | 1.80 |
| Total Equity & Liab | 72.06 | 36.72 | 13.55 |
| Fixed Assets | 2.42 | 1.44 | 1.49 |
| Inventories | 33.18 | 14.81 | 5.08 |
| Short-Term Loans & Adv | 13.35 | 0.95 | 0.53 |
| Trade Receivables | 20.98 | 14.94 | 3.27 |
| Cash & Bank Balances | 0.44 | 0.24 | 0.28 |
| Other Assets | 1.68 | 4.34 | 2.91 |
| Total Assets | 72.06 | 36.72 | 13.55 |
| Particulars | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Cash Flow from Operating Activities | -11.66 | -5.05 | 0.79 |
| Cash Flow from Investing Activities | -1.21 | -0.18 | 0.02 |
| Cash Flow from Financing Activities | 13.07 | 5.18 | -0.62 |
| Net Change in Cash & Equivalents | 0.20 | -0.04 | 0.18 |
| Cash & Equivalents at End of Period | 0.44 | 0.24 | 0.28 |
Promoter Holding
Promoter
86.96%
Public
13.04%
Arun Kumar
58.94%
Vandana Sharma
28.02%
Management
Arun Kumar
Age: 69
MD & Chairman
Remuneration
₹₹23.77 Lakhs (FY26)
Education
B.Sc (Electrical Engg, RIT Jamshedpur); Diploma in Systems Mgmt (Bombay Univ)
Prior Experience
30+ yrs in plasma & laser technology; ex-Scientific Officer at BARC, Mumbai; patent holder in plasma-activated water.
Amrisha Arun Kumar Sharma
Age: 33
ED & CEO
Remuneration
₹₹23.22 Lakhs (FY26)
Education
B.Tech (Electronics, Bharati Vidyapeeth, Pune); Diploma in Network Security
Prior Experience
12+ yrs in plasma & technology; leads end-to-end operations & production; patent co-holder.
Vandana Sharma
Age: 62
CFO
Remuneration
₹₹21.10 Lakhs (FY26)
Education
PG Diploma in Social Service (Personnel Mgmt & IR); B.Sc (Zoology Hons), St. Xavier’s, Ranchi
Prior Experience
28+ yrs experience; earlier at BHEL (1989-96); with the Company since 2004 overseeing finance & administration.
Apeksha Sharma
Age: 35
Non-Executive Director
Education
Bachelor’s degree in Business (per RHP)
Prior Experience
Director of the Company; patent co-holder in plasma-activated water process.
Registrar & Lead Managers
Registrar
Maashitla Securities
Lead Managers (1)
Company Details
Name: Technocrats Plasma Systems Limited
Address: Gala No. 6, 7, 8, 105, 106, 107, 108, Nirav-2, Gaon Devi Industrial Estate, Sativali, Vasai East, Dist. Palghar - 401 208, Maharashtra, India
Number: +91 7888099611
Email: info@technocratplasma.com
Website: https://www.technocratplasma.com
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Frequently Asked Questions (FAQs)
What is Technocrats Plasma IPO?
Technocrats Plasma IPO is a SME IPO having an issue size of
₹61 Crs.
Technocrats Plasma IPO is priced at
₹125 - ₹132 per
share.
The
issue opens on 14 Aug 26
and
closes on 18 Aug 26.
When will Technocrats Plasma IPO open?
Technocrats Plasma IPO opens on
14 Aug 26 and closes on
18 Aug 26.
What is the GMP of Technocrats Plasma IPO?
The estimated Grey Market Premium of Technocrats Plasma IPO is
₹12 per share (9.09%).
What is the lot size of Technocrats Plasma IPO?
The minimum lot size of Technocrats Plasma IPO is
1000 shares & the minimum application amount
is
Rs.
132000.
When is the allotment of Technocrats Plasma IPO?
The allotment date of Technocrats Plasma IPO is
19 Aug 26.
What is the listing date of Technocrats Plasma IPO?
The listing date of Technocrats Plasma IPO is
21 Aug 26.
What is the subscription of Technocrats Plasma IPO?
Technocrats Plasma IPO is subscribed
-.
What is the price band of Technocrats Plasma IPO?
Technocrats Plasma IPO is priced at
₹125 - ₹132 per
share.
How to check allotment status of Technocrats Plasma IPO?
Click the allotment link on Technocrats Plasma IPO page of IPO360.
How to apply Technocrats Plasma IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply Technocrats Plasma IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply Technocrats Plasma IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select Technocrats Plasma IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date
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