Gabion Technologies India IPO offers exposure to a specialised infrastructure solutions company supplying gabions, rockfall protection systems and geosynthetics to road, rail, defence, airport and other core sectors, backed by steady revenue growth and strong return ratios but with SME‑type risks and moderate margins.
Gabion Technologies India IPO overview
- Company name: Gabion Technologies India Limited.
- Business: Manufacturing, design, trading and installation of gabions, rockfall protection nettings and geosynthetic materials for infrastructure and construction projects.
- Key products: Mechanically woven double‑twisted steel wire mesh gabions, defence gabions, PP rope gabions, high‑tensile rockfall protection nettings, rockfall fences/barriers, reinforced geomats, high‑strength flexible geogrids.
- Sectors served: Roads, railways, real estate, airports, energy, mining, defence, water resources and other infrastructure segments.
- Project track record: 76 work contracts completed, including 36 road projects, 12 railway, 8 private commercial, 9 energy, 3 mining, 3 airports, 3 defence and 2 water resources projects.
Key IPO details and dates
- IPO type: Equity IPO of Gabion Technologies India Ltd; SME‑style public offer targeted at investors looking at infrastructure and construction allied plays.
- IPO open date: January 6, 2026.
- IPO close date: January 8, 2026 (cut‑off time 5 PM).
- Basis of allotment: January 9, 2026.
- Refund initiation: January 12, 2026.
- Credit of shares to Demat: January 12, 2026.
- Listing date: January 13, 2026.
- Registrar: Kfin Technologies Ltd.
- Lead manager / merchant banker: GYR Capital Advisors Pvt. Ltd.
Issue structure, lot size and utilisation
- Promoters: Mr. Madhusudan Sarda, Mrs. Urvashi Sarda, Ms. Priyanandini Sarda and M/s ARS Merchants Private Limited.
- Promoter holding (pre‑issue): 99,75,360 shares (100%).
- Promoter holding (post‑issue): 1,35,75,360 shares (percentage not specified).
- Investor reservation:
- Anchor investors: 10,22,400 shares (8.26%).
- QIB (excluding anchor): 6,83,200 shares (5.52%).
- NII: 5,13,600 shares (4.15%).
- Retail: 99,75,360 shares (80.61%).
- Market lot and application size:
- Minimum lot size: 3,200 shares.
- Minimum retail application amount: ₹2,59,200 for 3,200 shares (2 lots as per table convention).
- S‑HNI range: 4,800–11,200 shares (₹3,88,800–₹9,07,200).
- B‑HNI minimum: 12,800 shares (₹10,36,800).
- Objective of the issue (use of funds):
- Working capital requirements – ₹22.11 crore.
- Capex for purchase of plant and machinery – ₹1.06 crore.
- General corporate purposes – balance portion.
- Anchor investor lock‑in: 50% shares locked till February 8, 2026 (30 days), balance 50% till April 9, 2026 (90 days).
Financials and valuation metrics
Gabion Technologies India Ltd.'s revenue decreased by 4% and profit after tax (PAT) rose by 14% between the financial year ending with March 31, 2025 and March 31, 2024.
|
Period Ended |
30 Nov 2025 |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
100.58 |
87.52 |
70.12 |
51.77 |
|
|
60.66 |
101.17 |
104.97 |
78.88 |
|
|
4.30 |
6.63 |
5.82 |
3.41 |
|
|
10.76 |
15.06 |
13.16 |
6.39 |
|
|
26.33 |
22.03 |
15.41 |
9.65 |
|
|
16.32 |
12.02 |
13.71 |
7.97 |
|
|
52.05 |
46.71 |
36.37 |
29.46 |
|
|
Amount in ₹ Crore |
||||
- Profitability and return ratios – FY2025:
- ROE: 30.05%.
- ROCE: 19.17%.
- EBITDA margin: 14.89%.
- PAT margin: 6.60%.
- Debt‑equity ratio: 2.12.
- EPS (basic): ₹6.64.
- RoNW: 30.05%.
- NAV per share: ₹22.08.
- P/E: Not available (price band not disclosed in the shared data).
- Peer snapshot (for context): SRM Contractors Limited shows EPS of 23.97, P/E of 22.40, RoNW 19.96%, NAV ₹120.09 and income ₹542.05 crore, highlighting how Gabion sits in a smaller‑scale but higher‑ROE niche segment.
Strengths of Gabion Technologies India IPO
- Specialised niche in gabions and geosynthetics for infrastructure
- Diverse infrastructure client exposure
- Integrated capabilities from design to installation
- Healthy revenue growth with rising profitability
- Strong return ratios despite SME scale
- Double‑digit operating margin profile
- Capital infusion to support working capital
- Capex to enhance plant and machinery
- Anchor investor participation and defined lock‑in
- High retail allocation
Risks and key concerns
- SME IPO with high minimum investment –
- Leverage remains on the higher side
- Moderate PAT margin despite healthy EBITDA
- Project‑based and tender‑driven business model.
- Customer and sector concentration.
- Working capital intensive operations.
- Limited disclosed valuation comfort without P/E
- Scale gap versus larger contractors and global players
- SME listing and liquidity risk
- Execution and technology‑driven risks
How To Apply for the IPO ?
- Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of IPO?
Steps to check IPO allotment status on JM Pro app:
- Log in to the JM Pro app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
JM Financial Services will notify you of your IPO allotment status via push notification and email
FAQs
1. What is Gabion Technologies India IPO?
Gabion Technologies India IPO is a ₹29.16 crore SME book‑built public issue of 36,00,000 equity shares, offering investors exposure to a gabion and geosynthetics solutions company catering to infrastructure projects.
2. What are the Gabion Technologies India IPO dates?
Gabion Technologies India IPO opens for subscription on 6 January 2026 and closes on 8 January 2026, with allotment expected on 9 January 2026 and listing on 13 January 2026.
3. On which exchange will Gabion Technologies India IPO list?
The Gabion Technologies India IPO is proposed to be listed on the BSE SME platform, subject to successful subscription and regulatory approvals.
4. What is the Gabion Technologies India IPO price band?
The price band for Gabion Technologies India IPO is fixed at ₹76 to ₹81 per equity share of face value ₹10 each.
5. What is the lot size and minimum investment for Gabion Technologies India IPO?
Investors can bid for a minimum of 3,200 shares (2 lots of 1,600 shares each), requiring an investment of about ₹2,59,200 at the upper price band, making this an SME IPO with a high ticket size.
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