Paluck Technologies IPO Opens Today: Price Band ₹46–₹48, Lot Size, Dates and SME Details
The ₹33.00 Crore BSE SME Initial Public Offering of Paluck Technologies Limited opened for public subscription today, Friday, August 28, 2026 , and will conclude on Tuesday, September 1, 2026 . The price band is set at ₹46 to ₹48 per equity share with a minimum market lot size of 3,000 equity shares , requiring a minimum retail capital outlay of ₹1,44,000 at the ₹48 cap price . The issue is structured as a 100% Fresh Issue of 68.76 lakh shares with zero Offer for Sale (OFS), deploying net proceeds into corporate working capital and equipment rental assets.
1. BSE SME Bidding Window Opens: Paluck Technologies Launches ₹33 Cr Issue
Specialized engineering infrastructure and equipment rental service provider Paluck Technologies Limited officially opened its initial public offering on the BSE SME exchange platform today, Friday, August 28, 2026. The public offering will remain accessible for electronic bidding across brokerages for three full trading days, concluding on Tuesday, September 1, 2026, at 5:00 PM IST.
Headquartered in Gujarat, the company operates across integrated engineering verticals—including automotive and precision fabrication, equipment rental, industrial logistics, and telecom civil services. Sized at ₹33.00 Crore, the offering provides growth capital to scale its fleet of industrial machinery. For an exhaustive understanding of how SME platform mechanics differ from regular stocks, consult our master guide on SME IPO vs Mainboard IPO Reality (₹1.25L+ Lot Sizes & SEBI Rules).
2. Paluck Technologies IPO: Master Snapshot
Below is the verified regulatory snapshot detailing issue structure, price band, allocation quotas, and lead syndicate:
| Issue Parameter | Statutory Specification | Verification Status |
|---|---|---|
| Issuer Entity | Paluck Technologies Limited | Confirmed |
| Exchange Segment | BSE SME Platform | Confirmed |
| Issue Opening Date | Friday, 28 August 2026 | Subscription Live |
| Issue Closing Date | Tuesday, 1 September 2026 (5:00 PM IST) | Confirmed |
| Price Band per Share | ₹46 to ₹48 per equity share | Confirmed in RHP |
| Face Value | ₹10 per equity share | Confirmed |
| Market / Bidding Lot Size | 3,000 Equity Shares | Confirmed |
| Minimum Retail Check Size | ₹1,44,000 (at ₹48 cut-off price) | Confirmed |
| Total Public Issue Size | ₹33.00 Crore (68,76,000 equity shares) | Confirmed |
| Fresh Issue Component | ₹33.00 Crore (100% of issue) | Confirmed |
| Offer for Sale (OFS) Component | Nil (0 Equity Shares) | Confirmed (Zero Secondary Exit) |
| Book Running Lead Manager | Horizon Management Private Limited | Confirmed |
| Registrar to the Issue | Bigshare Services Private Limited | Confirmed |
| Designated Market Maker | Giriraj Stock Broking Private Limited | Confirmed |
3. Key Bidding Terms: 3,000 Shares Lot Size & ₹1.44 Lakh Check Size
Under Chapter IX of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, SME offerings follow standardized lot-sizing slabs to prevent small-ticket speculation. Because Paluck Technologies' price band is positioned between ₹35 and ₹50, the statutory lot size is fixed at 3,000 equity shares.
| Investor Category | Minimum Lots | Total Equity Shares | Minimum Check Size (₹) | Maximum Investment (₹) |
|---|---|---|---|---|
| Retail Individual (Min / Max) | 1 Lot | 3,000 Shares | ₹1,44,000 | ₹1,44,000 (SME Limit) |
| High Net-Worth / HNI (Min) | 2 Lots | 6,000 Shares | ₹2,88,000 | Open Bidding |
| High Net-Worth / HNI (Max) | Open | Multiples of 3,000 | Multiples of ₹1.44L | Subject to Issue Size |
Critical SME Liquidity Rule: Full-Lot Trading Post-Listing
Retail investors accustomed to Mainboard stocks (where shares can be sold in single units after listing) must note: On the BSE SME platform, you cannot sell partial lots. If allotted 3,000 shares, you must sell all 3,000 shares together in a single transaction. Furthermore, SEBI enforces a 90% price discovery cap on listing morning to prevent artificial opening spikes. Read our detailed analysis on SME Lower Circuits & Liquidity Traps.
4. Capital Structure Analysis: 100% Fresh Issue of ₹33.00 Crore
A notable fundamental positive of the offering is its issuance structure. In many small-cap listings, promoters utilize public debuts to encash holdings via heavy Offer for Sale (OFS) components. In contrast, Paluck Technologies is executing a 100% primary issuance:
- Zero Secondary Exit: 68,76,000 new equity shares are being created, meaning the promoters are not taking any cash off the table.
- Capital Inflow: Every single rupee of net proceeds after issue expenses will be credited directly to the company's operational treasury.
5. Objects of the Issue: Working Capital & Equipment Capex
As disclosed in the statutory offer documents filed with BSE, net fresh proceeds are earmarked across three primary business objectives:
| Strategic Deployment Objective | Allocated Amount (₹ Cr) | Operational Purpose & Growth Impact |
|---|---|---|
| Working Capital Augmentation | ₹20.50 Cr | Financing ongoing raw material procurement, engineering execution cycles, and vendor payment bridges. |
| Capital Expenditure for Machinery | ₹6.80 Cr | Procuring commercial cranes, earth-moving hydraulic gear, and transport fleet assets to expand equipment rental revenues. |
| General Corporate Purposes & Issue Expenses | ₹5.70 Cr | Corporate overhead reserves, brand expansion, and statutory issue underwriting expenses. |
| Total Fresh Issue Proceeds | ₹33.00 Cr | 100% deployed into corporate operations. |
6. Financial Trajectory & Margin Expansion (FY24 to 11M FY26)
Paluck Technologies has demonstrated disciplined revenue stability accompanied by sharp operating margin expansion over the preceding three fiscal years:
| Financial Indicator (₹ Crore) | 11M FY26 (28 Feb 2026) | FY25 (31 Mar 2025) | FY24 (31 Mar 2024) |
|---|---|---|---|
| Total Revenue from Operations | ₹105.09 | ₹102.90 | ₹101.74 |
| Operating EBITDA | ₹23.93 | ₹18.99 | ₹13.27 |
| Operating EBITDA Margin (%) | 22.77% | 18.45% | 13.04% |
| Profit After Tax (PAT) | ₹13.84 | ₹9.63 | ₹3.43 |
| PAT Net Margin (%) | 13.17% | 9.36% | 3.37% |
| Total Net Worth | ₹45.66 | ₹31.82 | ₹18.48 |
Between FY24 and the 11-month period ending February 2026, Net Profit (PAT) expanded from ₹3.43 Crore to ₹13.84 Crore, driven by a higher mix of value-added equipment rental and precision telecom engineering contracts.
7. Official IPO Calendar & Allotment Roadmap
Investors should monitor the following statutory timeline following the bidding closure on Tuesday, September 1, 2026:
| IPO Milestone Stage | Scheduled Date | Investor Action / Operational Description |
|---|---|---|
| Issue Opening Date | Friday, 28 August 2026 | Electronic bidding opens at 10:00 AM IST on BSE SME. |
| Issue Closing Date | Tuesday, 1 September 2026 | Bids close at 5:00 PM IST; UPI mandate approvals close at 5:00 PM. |
| Basis of Allotment Finalization | Wednesday, 2 September 2026 | Registrar (Bigshare Services) runs the allotment lottery. Check status in our Allotment Status Guide. |
| Initiation of Refunds / ASBA Unblock | Thursday, 3 September 2026 | Bank holds on unallotted funds released. Learn about the ₹100/day delay rule in our ASBA Unblock Guide. |
| Credit of Shares to Demat | Thursday, 3 September 2026 | Allotted shares credited to CDSL/NSDL accounts under eligible BSDA zero-AMC accounts. |
| Stock Exchange Listing Date | Friday, 4 September 2026 | Pre-open call auction 9:00 AM – 9:45 AM; continuous trading begins at 10:00 AM. Read our Listing Day Trading Guide. |
8. Unofficial Grey Market Sentiment & Listing Expectations
Informal secondary market tracking networks report active interest in the offering. As of opening day, unofficial quotes for Paluck Technologies equity shares hover around ₹25 per share, indicating an informal premium of approximately 52% over the ₹48 cap price:
- Indicative Pricing: A ₹25 premium implies an unofficial listing expectation around ₹73 per share.
- Regulatory Warning: GMP is completely unofficial, unregulated by SEBI or stock exchanges, and does not guarantee secondary market liquidity. Investors must base their participation on financial fundamentals, working capital cycles, and equipment rental utilization. Learn more in our guide on What is IPO GMP & Kostak Rates.
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Source Attribution: Information published on Digital Arthalaya is curated from publicly filed Draft Red Herring Prospectuses (DRHP), Red Herring Prospectuses (RHP), Price Band Advertisements, and Official Stock Exchange (BSE/NSE) notifications.
Non-Advisory Mandate & Risk Warning: Digital Arthalaya is strictly an independent financial education portal and is not a SEBI-registered investment advisor or stock broker. IPO bidding and equity trading involve market risk, including potential loss of principal. Readers must conduct their own independent due diligence and read all offer documents carefully before making investment commitments.