SpectraA Technology Solutions IPO

About Spectraa Technology Solutions IPO

The Spectraa Technology Solutions IPO, an SME IPO, opens on Thursday, September 17, 2026 and closes on Monday, September 21, 2026. The allotment of shares will take place on Tuesday, September 22, 2026. The credit of shares to the demat account will take place on Wednesday, September 23, 2026. The initiation of refunds will take place on Wednesday, September 23, 2026. The listing of shares will take place on Thursday, September 24, 2026.

The equity shares of the company are proposed to be listed on the NSE SME platform.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include 32,55,600 shares aggregating up to ₹38.42 crore. The offer for sale portion includes 3,48,000 shares of ₹10 aggregating up to ₹4.11 crore. The total number of shares and aggregate amount are 36,03,600 shares aggregating up to ₹42.52 crore.

Spectraa Technology Solutions IPO's price band is set at ₹112 to ₹118 per share. The lot size for an application is 1,200 shares, and individual investors must apply for a minimum of 2 lots (2,400 shares). The minimum amount of investment required by an individual investor is ₹2,83,200 (2,400 shares) based on the upper price

The company is an engineering-led original equipment manufacturer that designs, fabricates, installs, and commissions process plants and equipment for the breweries, distilleries, malt spirit, food and beverage, and allied industries.

Objectives of Spectraa Technology Solutions IPO

• Capital expenditure at the Jaipur manufacturing facility.
  
• Repayment of term loans availed by the company.
  
• Meeting the working capital requirements.
  
• General corporate purposes.
  
• Offer expenses.
  

Industry Outlook

India's beer and malt spirit equipment market supplies brewing systems, fermentation tanks, malting units, filtration systems, and bottling and automation technologies to producers of beer, whisky, gin, rum, and other malt-based spirits. The market was valued at USD 165.09 million in 2018 and grew to USD 204.08 million in 2024. It is projected to reach USD 302.28 million by 2032, reflecting rising beer consumption, the expansion of microbreweries, and stronger demand for premium malt spirits.

The brew kettle segment is the fastest-growing equipment category, projected to expand at a CAGR of 5.6%. Craft beer culture is spreading. Demand for energy-efficient brewing systems and flexible, recipe-friendly kettles is driving that pace. Malting machines represent a further revenue opportunity as craft brewers increasingly move malt production in-house for quality control and flavour differentiation.

The company operates directly within this equipment supply chain. Its turnkey brewhouse, distillation, and extraction systems address the same demand drivers, positioning it to convert rising capacity investment by breweries and distilleries into orders.

About Spectraa Technology Solutions

Spectraa Technology Solutions was incorporated in Bengaluru on January 20, 2009. It designs, fabricates, installs, commissions, and decommissions greenfield and brownfield process plants for breweries, distilleries, food and beverage producers, malt spirit and blending units, extraction plants, FMCG, and pharmaceutical clients.

Six product verticals anchor its portfolio: commercial brewery equipment, distillery equipment, food and beverage plants, microbrewery equipment, malt spirit equipment, and extraction plants. Commercial brewery equipment contributed ₹68.93 crore, or 68.14% of revenue from operations, in FY26. It fabricates all equipment in-house, from cutting, rolling, and welding through pressure testing and factory acceptance testing before dispatch. This control over the build helps it customise quickly and hold schedules.

The company runs two manufacturing facilities, at Bengaluru and Jaipur, with an aggregate built-up area of 33,214.75 square feet. Its systems are compliant with ISO 9001:2015. As on August 25, 2026, its order book stood at ₹81.30 crore.

Strengths of Spectraa Technology Solutions

• The company operates two manufacturing facilities at Bengaluru and Jaipur, with an installations footprint across 19 Indian states, 3 union territories, and exports to 10 countries.
• It fabricates all its equipment in-house from design to final assembly, covering cutting, rolling, welding, passivation, pressure testing, and factory acceptance testing before dispatch.
• It has a diversified order book of ₹81.30 crore as on August 25, 2026, spread across breweries, distilleries, malt spirit, extraction, and food and beverage customers.
• The company maintained a 100% factory-acceptance-test success ratio with no warranty claim over the last three financial years, supported by an ISO 9001:2015-compliant quality system.

Risks of Spectraa Technology Solutions

• A significant portion of revenue comes from a number of customers, so the loss of any major customer would directly reduce the company's revenue.
• Revenue from operations declined in FY24 and FY25 before recovering in FY26, showing that order flows and earnings can be volatile year to year.
• The company depends on a number of suppliers for key raw materials such as steel, so any supply disruption or price increase would raise costs and delay projects.
• Revenue is concentrated in certain geographical regions, making the Company vulnerable to adverse developments in those specific markets.
• The company has been unable to locate the Consent to Establish for its Jaipur unit and lacks occupancy certificates for that facility, exposing it to regulatory action and operational disruption.
• The Jaipur manufacturing facility operates from leased premises, so non-renewal or disruption of that lease would interrupt production and delivery.

Anchor Investor Bidding Date

Wednesday, September 16, 2026

IPO Registrar and Book Running Lead Managers

Registrar Details
Maashitla Securities Private Limited
Email: investor.ipo@maashitla.com
Tel. No: 011-47581432

Book Running Lead Manager
Indcap Advisors Private Limited

Spectraa Technology Solutions Contact Details
17/7 Ali Asker Road, Cunningham Rd, Bangalore G.P.O, Bangalore North,
Karnataka, India, 560001
Telephone No.: +91 80 41150466
Email ID: cs@spectraa.com

Spectraa Technology Solutions Business Model

The company earns its revenue through the engineering, fabrication, installation, and commissioning of turnkey process plants and equipment for the breweries, distilleries, malt spirit, food and beverage, extraction, FMCG, and pharmaceutical industries. It builds key equipment in-house and executes both standardised modular scopes and project-specific customised scopes, taking full responsibility from design to handover. Revenue is spread across six product verticals, led by commercial brewery equipment, and is supplemented by lifecycle support such as annual maintenance contracts, spares, and after-sales service. Its two-region manufacturing base at Bengaluru and Jaipur serves domestic customers across 19 states and 3 union territories as well as export markets in 10 countries.

Spectraa Technology Solutions Growth Trajectory

Spectraa Technology Solutions's Total Income for FY26 was ₹103.05 crore, whereas in FY25 and FY24 it was ₹75.53 crore and ₹89.68 crore, respectively.

The Profit After Tax for FY26 was ₹11.56 crore, whereas in FY25 and FY24 it was ₹4.91 crore and ₹2.00 crore, respectively.

Their EBITDA for FY26 was ₹19.26 crore, whereas in FY25 and FY24 it was ₹10.13 crore and ₹4.48 crore, respectively.

Spectraa Technology Solutions Market Position

The Company serves customers from two manufacturing hubs at Bengaluru and Jaipur, with an installations footprint across 19 Indian states and 3 union territories and exports to 10 countries, including Nepal, Bhutan, the UAE, South Africa, and Germany. Its quality systems are compliant with ISO 9001:2015, and it recorded a 100% factory-acceptance-test success ratio with no warranty claim over the last three financial years. As on August 25, 2026, its order book stood at ₹81.30 crore, anchored by existing and repeat customers across breweries, distilleries, malt spirit, extraction, and food and beverage segments.

As of 31 March 2026, the company's Total Income, Profit After Tax, and EBITDA were ₹103.05 crore, ₹11.56 crore, and ₹19.26 crore, respectively.

How to apply for Spectraa Technology Solutions IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.