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Paluck Technologies operates in the engineering and infrastructure services sector, a segment that has seen increased activity due to government focus on infrastructure development. The company’s diversified business model, spanning RMC, logistics, and telecom engineering, provides multiple revenue streams. However, a significant portion of the IPO proceeds is allocated to working capital and capex for machinery, indicating a growth-oriented strategy that will require efficient execution. The company’s reliance on partnerships and its presence in various geographical regions are key strengths. A contingent liability of 1.17 crore as of February 28, 2026, warrants monitoring. The lack of direct listed peers in the offer documents makes comparative valuation challenging, necessitating a closer examination of the company’s standalone financial projections and market positioning.
Mumbai: Paluck Technologies Ltd. is set to launch its initial public offering (IPO) on the BSE SME platform, aiming to raise 33 crore. The subscription period for the issue, which offers shares in a price band of 46 to 48 apiece, will be open from August 28, 2026, to September 1, 2026.
The company, initially established in 2009 for diesel generator services, has diversified into a broader engineering and infrastructure support organization. Its current operations encompass automobile and engineering services, logistics and equipment rentals, and telecom engineering.
The IPO comprises 6,876,000 equity shares of 10 face value, representing approximately 33.02% of the company’s post-IPO paid-up capital. The net proceeds are earmarked for several key initiatives: 10 crore for working capital, 10 crore for capital expenditure to acquire new ready-mix concrete (RMC) machinery and DG sets, 3.10 crore for debt repayment, and the remainder for general corporate purposes.
Paluck Technologies reported a notable financial upswing, with total income and net profit showing consistent growth. For the fiscal year ended March 31, 2025 (FY25), the company posted a total income of 102.90 crore and a net profit of 9.63 crore. This trend continued into the first 11 months of FY26, with total income reaching 105.09 crore and net profit at 13.84 crore by February 28, 2026.
The issue is managed by Horizon Management Pvt. Ltd., with Bigshare Services Pvt. Ltd. serving as the registrar. Giriraj Stock Broking Pvt. Ltd. is designated as the market maker.
Post-IPO, the company’s paid-up equity capital is expected to increase from 13.95 crore to 20.82 crore. Based on the upper price band, the company is seeking a market capitalization of approximately 99.95 crore.
The company’s financial performance indicates an average earnings per share (EPS) of 20.90 and an average return on net worth (RoNW) of 23.74% over the last three fiscal years. The issue is priced at a price-to-book value (P/BV) ratio of 1.47 based on its net asset value (NAV) of 32.74 per share as of February 28, 2026. Analysts note that the valuation appears reasonable considering its recent earnings trajectory, with a post-IPO P/E ratio of 6.62 based on annualized FY26 earnings.
Paluck Technologies highlights a substantial asset base, including 92 transit mixers, 13 concrete pumps, and 23 logistics trucks, serving clients across key infrastructure development regions. The company also manages over 7,500 telecom sites across India and operates as an authorized service center for commercial vehicles and two-wheelers in Haryana.
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