Aureate Tradde Ltd IPO

Merritronix Limited was incorporated in October 1988 and provides end-to-end electronics manufacturing services including component sourcing, PCB assembly, system integration, testing, box-build assembly and delivery of finished electronic products.

The company operates a manufacturing facility with an installed capacity of 17,85,000 production units per annum across SMT assembly, Through-Hole Technology (THT) assembly and product assembly operations. It holds EN 9100:2018 certification for aerospace and defence electronics manufacturing and serves clients in defence, aerospace, power, utilities, electrical engineering and heavy industries.

The IPO comprises a fresh issue of Rs 70.03 Cr at a price band of Rs 141-149 per share, implying a post-issue market capitalization of around Rs 260.52 Cr.

The proceeds will be utilized for purchase of machinery and equipment, working capital requirements, repayment of borrowings and general corporate purposes. The company reported FY26 revenue of Rs 156.25 Cr and PAT of Rs 16.10 Cr. Key strengths include a three-decade operating history, strong defence and aerospace exposure, modern manufacturing infrastructure, high return ratios and a robust order book. Key risks include customer concentration, dependence on defence sector spending and execution risks associated with expansion plans.