ET
Price Band
₹93 – ₹98
Cut-off: ₹98 per share
Lot: 1,200 · Min ₹1,17,600
GMP Today
+₹12
+12.2% premium
Est. Listing Price
₹110
GMP + issue price
Subscription
0.21×
Day 3 · Live
Market Sentiment
62/100
● Neutral
IPOGyani AI Engine · Live Prediction
+14.2%
Range: +10% to +18%
Confidence: Moderate · 68%
📈 GMP Trend ↑
⚓ Anchor Quality
🧠 Sentiment 62/100
📊 Sub 0.21× (Weak)
🏭 Electronics Sector ↑
📰 PLI Scheme Boost
💰 Anchor Alloc 30%
IPO Details
| Open Date | Mar 27, 2026 |
| Close Date | Apr 8, 2026 |
| Issue Type | Book Build Issue |
| Issue Size | ₹31.75 Cr |
| Fresh Issue | ₹31.75 Cr (100%) |
| OFS | Nil |
| Face Value | ₹10 per share |
| Price Band | ₹93 – ₹98 |
| Lot Size | 1,200 shares |
| Min Investment (Retail) | ₹1,17,600 |
| Listing Exchange | BSE SME |
| Allotment Date | ~Apr 9, 2026 |
| Listing Date | ~Apr 11, 2026 |
Company Information
| Company Name | Emiac Technologies Ltd |
| Industry | Electronics / Semiconductor |
| Founded | 2015 |
| HQ | Pune, Maharashtra |
| Registrar | Link Intime India |
| Lead Manager | Ekadrisht Capital |
| Market Cap (Upper) | ~₹127 Cr |
| P/E (Upper Band) | 22.4× |
| Promoter Holding (Pre) | 72.4% |
| Post-IPO Promoter | 56.2% |
| QIB / NII / Retail | 50 / 15 / 35% |
| Total Shares on Offer | 32,39,800 |
About the Company
Emiac Technologies Ltd manufactures electronic components, PCB assemblies, and microcontroller-based systems for industrial automation and IoT sectors. Founded in 2015 and headquartered in Pune, the company has grown its revenue from ₹12 Cr (FY22) to ₹38 Cr (FY25), a 3-year CAGR of ~47%.
Profit & Loss (₹ Cr)
| Metric | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | ₹22.4 | ₹30.1 | ₹38.2 ↑ |
| Gross Profit | ₹7.1 | ₹9.6 | ₹12.3 ↑ |
| EBITDA | ₹3.2 | ₹4.8 | ₹6.1 ↑ |
| EBITDA Margin | 14.3% | 15.9% | 16.0% → |
| PAT (Net Profit) | ₹2.1 | ₹3.4 | ₹4.3 ↑ |
| PAT Margin | 9.4% | 11.3% | 11.3% → |
| EPS | ₹2.8 | ₹4.5 | ₹5.7 ↑ |
Balance Sheet (₹ Cr)
| Metric | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Assets | ₹18.4 | ₹24.2 | ₹31.8 |
| Equity | ₹10.1 | ₹13.2 | ₹17.4 |
| Total Debt | ₹4.2 | ₹5.8 | ₹7.3 |
| Debt/Equity | 0.42 | 0.44 | 0.42 ↓ |
| ROE | 18.2% | 20.1% | 21.4% ↑ |
| ROCE | 16.4% | 18.2% | 18.9% ↑ |
| Working Capital Days | 82 | 76 | 72 ↓ |
Key Valuation Metrics
22.4×
P/E (Upper Band)
3.3×
P/Sales
21.4%
ROE (FY25)
0.42
Debt/Equity
Objectives of the Issue
1
Capacity Expansion — ₹14.2 Cr
Setting up an additional manufacturing facility in Chakan MIDC, Pune to double production capacity from 2 lakh units/year to 4 lakh units. Addresses growing demand from OEM clients.
2
Working Capital Requirements — ₹10.5 Cr
Funding day-to-day operations as the company scales from ₹38 Cr to ₹60+ Cr revenue over 2 years. Reducing dependency on bank credit lines.
3
R&D and Product Development — ₹4.8 Cr
Developing next-generation IoT-enabled microcontroller products and expanding into automotive electronics — a faster-growing segment with higher margins.
4
General Corporate Purposes — ₹2.25 Cr
Brand building, IT infrastructure upgrades, and strategic initiatives to support business growth.
Fresh Issue vs OFS Breakdown
Fresh Issue: ₹31.75 Cr (100%)
Fresh Issue: ₹31.75 Cr (100%) — funds go to company
OFS: ₹0 Cr (0%) — no promoter selling
✅ Positive Signal: Zero OFS means 100% of IPO proceeds go directly to the company for growth. Promoters are NOT selling shares — which is a strong vote of confidence in the business.
GMP Trend · Last 12 Days
Today: +₹12 (+12.2%)
Mar 27Mar 29Apr 1Apr 3Apr 5Apr 7Today
| Date | Day | GMP (₹) | Premium % | Est. Listing (₹) | Change |
|---|---|---|---|---|---|
| Apr 8 (Today) | Day 13 | +₹12 | +12.2% | ₹110 | ↑ +₹2 |
| Apr 7 | Day 12 | +₹10 | +10.2% | ₹108 | ↑ +₹1 |
| Apr 5 | Day 10 | +₹9 | +9.2% | ₹107 | ↑ +₹2 |
| Apr 3 | Day 8 | +₹7 | +7.1% | ₹105 | ↑ +₹2 |
| Apr 1 | Day 6 | +₹5 | +5.1% | ₹103 | ↑ +₹2 |
| Mar 30 | Day 4 | +₹3 | +3.1% | ₹101 | ↑ +₹3 |
| Mar 28 | Day 2 | ₹0 | – | ₹98 | – |
| Mar 27 | Open | ₹0 | – | ₹98 | – |
📌 GMP is sourced from public grey market forums and is unofficial. It reflects secondary market demand before listing but is not guaranteed to match the actual listing price. Auto-refresh every 15 minutes.
0.21×
Overall Subscription · Day 3 · Updated 15:00 IST
⚠ Below 1× — IPO may not be fully subscribed
Subscription Trend by Day
Category-wise Breakdown
QIB
0.18×
28,800 / 1,60,000 sh
NII (HNI)
0.14×
16,800 / 1,20,000 sh
Retail (RII)
0.32×
89,600 / 2,80,000 sh
📡 Live subscription data sourced from BSE/NSE bidding platform. Total shares: 32,39,800. Auto-refresh every 15 min. Note: SME IPOs often see last-minute rush in final hours of Day 3.
Peer Comparison Table
| Company | Revenue (FY25) | PAT | EBITDA % | P/E | ROE | Market Cap | EPS |
|---|---|---|---|---|---|---|---|
| Emiac Technologies IPO | ₹38.2 Cr | ₹4.3 Cr | 16.0% | 22.4× | 21.4% | ₹127 Cr | ₹5.7 |
| Avalon Technologies | ₹286 Cr | ₹22 Cr | 11.8% | 38.2× | 14.2% | ₹1,820 Cr | ₹9.2 |
| Kaynes Technology | ₹1,142 Cr | ₹78 Cr | 14.2% | 82.4× | 16.8% | ₹8,200 Cr | ₹28.4 |
| Syrma SGS Technology | ₹1,680 Cr | ₹64 Cr | 8.6% | 54.8× | 10.4% | ₹4,100 Cr | ₹14.2 |
| Dixon Technologies | ₹18,200 Cr | ₹544 Cr | 4.8% | 112.4× | 22.8% | ₹68,400 Cr | ₹92.1 |
| Amber Enterprises | ₹9,420 Cr | ₹188 Cr | 5.2% | 48.6× | 9.2% | ₹10,200 Cr | ₹58.8 |
IPO P/E vs Peer P/E — Visual
✅ Emiac is attractively priced at 22.4× P/E vs sector peers trading at 38–112×. This suggests meaningful upside potential once listed — provided growth sustains.
YouTube Finfluencers
PK
Pranjal Kamra
Finology · 4.2M subs
Solid niche electronics play with decent growth numbers. GMP is encouraging. Not a blockbuster but steady listing gain likely if markets stay supportive. Worth applying for listing gains.
📅 Reviewed: Apr 6, 2026
CA
CA Rachana Ranade
YouTube · 5.1M subs
Company has genuine revenue growth but SME IPOs carry higher risk. Subscription below 1× is a concern. Consider only if you have high risk appetite — listing gain possible given positive GMP.
📅 Reviewed: Apr 5, 2026
NS
Nikhil Sharma (Finance)
YouTube · 1.8M subs
P/E of 22× is cheap vs peers at 50-100×. Zero OFS means all money goes to the company — that's a positive signal. Small cap risk exists but reward looks favourable. Apply for listing gains.
📅 Reviewed: Apr 4, 2026
AM
Akshat Shrivastava
YouTube · 2.4M subs
Low subscription till Day 3 is a red flag for SME IPOs. Electronics sector has tailwinds but this company is too small to benefit immediately. Wait for listing day price action before entering.
📅 Reviewed: Apr 7, 2026
PP
Parimal Ade
YouTube · 920K subs
Revenue CAGR of 47% in 3 years is impressive for a micro-cap. GMP steadily rising from ₹0 to ₹12 over 12 days — signals improving institutional demand. SME risk is real but upside looks attractive.
📅 Reviewed: Apr 6, 2026
Research Firms & News Channels
KS
Kotak Securities
SEBI Reg. Research Analyst
Small issue size limits institutional participation. Valuation at 22× is fair but growth needs to sustain 40%+ CAGR to justify listing premium. Short-term listing gains possible; avoid for long term without tracking quarterly results.
📅 Apr 3, 2026 · Research Report
SR
StockReport.in
SEBI Reg. Research Analyst
Below 1× subscription on Day 3 is a serious red flag. While electronics has PLI tailwinds, this company's financials are thin for a public listing. Recommend avoiding and waiting for post-listing price discovery.
📅 Apr 7, 2026 · Research Report
⚠️ All reviews are AI-generated summaries of publicly available YouTube videos, research reports and news articles. Not investment advice. Views are of respective analysts/channels, not IPOGyani. Always DYOR.
Important IPO Dates & Timeline
Mar 24, 2026
Anchor Allotment
₹9.5 Cr allotted to 3 anchor investors at ₹98. SBI MF and 2 domestic funds participated.
Mar 27, 2026
IPO Opens (Day 1)
Subscription begins. Retail & HNI applications accepted. UPI mandate to be approved within 4 hours.
Mar 27 – Apr 7, 2026
IPO Subscription Period
Live subscription updates available on IPOGyani every 15 minutes.
Apr 8, 2026 · TODAY
IPO Closes at 5:00 PM IST ← You Are Here
Last day to apply. UPI mandate must be approved before 5 PM. Apply early to avoid technical issues.
⏱ Closes in 4h 22m
Apr 9, 2026
Basis of Allotment
If oversubscribed, lottery system determines allotment. Check via Link Intime, BSE or IPOGyani allotment checker.
Apr 10, 2026
Refunds Initiated / Shares Credited
Unallotted funds refunded. Allotted shares credited to Demat accounts.
Apr 11, 2026 (Expected)
Listing Day — BSE SME
Shares begin trading on BSE SME from 10:00 AM IST. Pre-open session 9:00–10:00 AM.
✦ AI Predicted Listing Gain: +14.2%
Emiac Technologies IPO – Complete Review & GMP Analysis
Should You Apply for Emiac Technologies IPO?
The Emiac Technologies IPO is a BSE SME offering with a price band of ₹93–98. The Emiac Technologies IPO GMP today is +₹12 (+12.2%), suggesting an estimated listing price of ₹110. Our AI predicts a +14.2% listing gain. However, subscription at 0.21× on Day 3 is below expectations.
Emiac Technologies IPO GMP Today
The grey market premium for Emiac Technologies IPO is +₹12 as of April 8, 2026. GMP has risen steadily from ₹0 on the opening day to ₹12 on the closing day — a positive trend despite low subscription numbers.
Emiac Technologies IPO Allotment & Listing Date
Emiac Technologies IPO allotment date is expected to be April 9, 2026. Check allotment status via Link Intime India registrar portal using your PAN number. The Emiac Technologies IPO listing date is expected to be April 11, 2026 on the BSE SME platform.