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Subscription Status · Feb 09 – Feb 11, 2026 · ₹111–117
The Marushika Technology IPO subscription has recorded strong investor demand with an overall subscription of 18.01× as of Feb 17, 2026, indicating that investors applied for 18.01 times the number of shares on offer. All investor categories (institutional, HNI, and retail) have participated actively, making this one of the closely watched IPO openings.
Last updated: Feb 17, 2026, 6:41 PM IST
| Category | Shares Offered | Shares Bid For | Times Subscribed | Applications |
|---|---|---|---|---|
|
QIB
Qualified Institutional Buyers
|
435,600 | 1,273,200 |
2.92×
|
10 |
|
NII
Non-Institutional Investors
|
331,200 | 13,694,400 |
41.35×
|
1,842 |
|
bNII
Bids above ₹10L
|
219,600 | 11,247,600 |
51.22×
|
1,170 |
|
sNII
Bids below ₹10L
|
116,000 | 2,446,800 |
21.09×
|
672 |
|
Individual
Individual Investors
|
770,400 | 12,720,000 |
16.51×
|
5,300 |
|
Total
|
1,537,200 | 27,687,600 |
18.01×
|
8,994 |
How subscription built up across investor categories over time
Snapshot of each day's bidding activity
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 435,600 | - | - | - |
| NII | 331,200 | 31,200 | 0.09× | 7 |
| bNII | 219,600 | - | - | - |
| sNII | 111,600 | 31,200 | 0.28× | 7 |
| Individual Investors | 770,400 | 384,000 | 0.50× | 160 |
| Total | 1,537,200 | 415,200 | 0.27× | 174 |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 435,600 | - | - | - |
| NII | 331,200 | 339,600 | 1.03× | 48 |
| bNII | 219,600 | 249,600 | 1.14× | 26 |
| sNII | 111,600 | 90,000 | 0.81× | 22 |
| Individual Investors | 770,400 | 746,400 | 0.97× | 311 |
| Total | 1,537,200 | 1,086,000 | 0.71× | 407 |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 435,600 | 1,273,200 | 2.92× | 10 |
| NII | 331,200 | 13,694,400 | 41.35× | 1,842 |
| bNII | 219,600 | 11,247,600 | 51.22× | 1,170 |
| sNII | 116,000 | 2,446,800 | 21.09× | 672 |
| Individual Investors | 770,400 | 12,720,000 | 16.51× | 5,300 |
| Total | 1,537,200 | 27,687,600 | 18.01× | 8,994 |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | 435,600 | 1,273,200 | 2.92× | 10 |
| NII | 331,200 | 13,694,400 | 41.35× | 1,842 |
| bNII | 219,600 | 11,247,600 | 51.22× | 1,170 |
| sNII | 116,000 | 2,446,800 | 21.09× | 672 |
| Individual Investors | 770,400 | 12,720,000 | 16.51× | 5,300 |
| Total | 1,537,200 | 27,687,600 | 18.01× | 8,994 |
As of February 17, 2026, the Marushika Technology IPO has been subscribed 18.01 times overall. The IPO is fully subscribed with strong investor demand. A total of 8,994 applications received across all categories.
The Marushika Technology IPO subscription window was open from February 09, 2026 to February 11, 2026. Investors could apply through their demat account or ASBA facility.
The Marushika Technology IPO has a price band of ₹111 to ₹117 per share, with a lot size of 1,200 shares. Minimum retail investment: ₹133,200 (lower band) or ₹140,400 (upper band).
The QIB category has been subscribed 2.92 times. QIBs were offered 435,600 shares.
Overall NII: 41.35×. bNII (>₹10L): 51.22×, sNII (<₹10L): 21.09×. NII includes HNIs and corporate entities investing above ₹2 lakh.
Basis of allotment is on February 12, 2026. Check via the registrar's website, Skyline Financial Services Pvt.Ltd. using your PAN number, application number, or DP/Client ID. You can also check on BSE/NSE websites or through your broker's app.
Marushika Technology IPO is expected to list on February 16, 2026. Shares will list on NSE SME platform. Allotted shares are credited to your demat account 1 business day before listing.
A subscription multiple of 18.01× means investors have bid for 18.01 times the total shares available. Since the IPO is oversubscribed, not every applicant will receive shares, allotment happens via lottery (for retail) or proportionately (for other categories). Higher multiples generally reduce allotment probability.
Based on the current retail subscription of data pending, the estimated allotment probability for retail investors is Low–Moderate. Lottery-based allotment. If final subscription stays below 1×, all applicants are likely to get full allotment.
You can apply for Marushika Technology IPO through: (1) ASBA (Application Supported by Blocked Amount) via your bank's net banking or mobile app, (2) UPI-based application through your broker's app (Zerodha, Groww, Angel One, etc.), or (3) directly via your demat account. The amount is blocked in your account and deducted only upon allotment. Applications were accepted from Feb 09 to Feb 11, 2026.
The grey market premium (GMP) reflects unofficial pre-listing trading sentiment. For the latest Marushika Technology IPO GMP data, check the IPORise GMP page. Note: GMP is unofficial, speculative, and not a guaranteed indicator of listing price. Use it only as a sentiment signal alongside official subscription data.
New to reading subscription numbers? Read our guide on IPO subscription explained.
Subscription Opens Done
Feb 09, 2026Subscription Closes Done
Feb 11, 2026Basis of Allotment Done
Feb 12, 2026Listing on NSE Done
Feb 16, 2026Lottery-based allotment.
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Higher subscription = lower allotment probability. Progress bars compare each category relative to the highest-subscribed category.
