Matrix Geo Solutions
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 30 Sept 2025 | ₹9 | +8.65% | ₹8,200 | ₹113 | ₹10,800 |
| 29 Sept 2025 | ₹9 | +8.65% | ₹8,200 | ₹113 | ₹10,800 |
| 28 Sept 2025 | ₹9 | +8.65% | ₹8,200 | ₹113 | ₹10,800 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 23 Sept 2025 – 25 Sept 2025
- Listing date
- 30 Sept 2025
- Face value
- ₹10 per share
- Issue price
- ₹104 per share
- Lot size
- 1,200 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹40.2 Cr
- Market cap at offer price
- ₹152 Cr
- Promoter holding
- 91.52% → 67.26% pre-issue → post-issue
- ISIN
- INE132901013
- Registrar
- Maashitla Securities Pvt.Ltd.
- Lead managers
- Narnolia Financial Services Ltd.
- Registered office
- Plot No-A-1/87, Third Floor, Sewak Park, Uttam Nagar, New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 10,90,800 | — | — |
| Market maker | 2,13,600 | — | — |
Application size
Minimum 1,200 shares per lot, in multiples, at ₹104
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,24,800 |
| S-HNI (min) | 2 | 2,400 | ₹2,49,600 |
| S-HNI (max) | 8 | 9,600 | ₹9,98,400 |
| B-HNI (min) | 9 | 10,800 | ₹11,23,200 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹104 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 5.47 | 4.02 |
| P/E (×) | 19.01 | 25.87 |
| Price to book (×) | 5.09 | — |
| Market cap | — | ₹152 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 35.21%
- ROCE
- 33.69%
- Debt / equity
- 0.14
- PAT margin
- 26.52%
- EBITDA margin
- 37.08%
- NAV per share
- ₹20.44
- Price to book
- 5.09
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Matrix Geo Solutions
Matrix Geo Solutions Limited is a geospatial services company that delivers high-resolution drone-based aerial surveys and geospatial consultancy services across multiple sectors including railways, roadways, water, irrigation, renewable energy, agriculture, mining, and urban & rural planning. The company creates detailed orthophotos, 3D models, digital elevation models, and precise topographical maps using advanced drone technology and remote sensing solutions like LiDAR and satellite imagery. Recently, the company expanded into drone training and education as a DGCA-authorized Remote Pilot Training Organisation (RPTO), offering certified training programs under its brand 'Drone Academy of India'. The company has grown its revenue from ₹981.57 lakhs in FY2022 to ₹1,368.76 lakhs in FY2024, with an order book of ₹1,871.17 lakhs as of September 2024.
Company Analysis
from DRHPMatrix Geo Solutions Limited provides comprehensive geospatial and consulting services with a strong focus on Drone-as-a-Service (DaaS) and geospatial & remote sensing services for mapping, surveillance, infrastructure inspection, and recently expanded into drone training and education.
Matrix Geo Solutions Limited is a geospatial services company that delivers high-resolution drone-based aerial surveys and geospatial consultancy services across multiple sectors including railways, roadways, water, irrigation, renewable energy, agriculture, mining, and urban & rural planning. The company creates detailed orthophotos, 3D models, digital elevation models, and precise topographical maps using advanced drone technology and remote sensing solutions like LiDAR and satellite imagery. Recently, the company expanded into drone training and education as a DGCA-authorized Remote Pilot Training Organisation (RPTO), offering certified training programs under its brand 'Drone Academy of India'. The company has grown its revenue from ₹981.57 lakhs in FY2022 to ₹1,368.76 lakhs in FY2024, with an order book of ₹1,871.17 lakhs as of September 2024.
Objects of the Issue
- Purchase of New Drones ₹646.31 lakhs p.102
- Purchase of Survey Equipments and Technologies ₹787.67 lakhs p.106
- Capital Expenditure ₹271.41 lakhs p.118
- Funding the Working Capital Requirement ₹1,550.00 lakhs p.121
- General Corporate Purposes [●] (not to exceed 15% of amount raised or Rs. 10 Crores, whichever is lower) p.125
Issue Structure
- Total Issue
- Up to 38,65,200 Equity Shares of face value of Rs.10/- each aggregating to Rs. [●] Lakhs
- Fresh Issue
- Up to 38,65,200 Equity Shares of face value of Rs.10/- each fully paid-up
- Offer for Sale
- NIL
- Price Band
- [●] times to [●] times of the face value
- Lot Size
- [●] Equity Shares
- Face Value
- Rs. 10/- each
Business Model
The company generates revenue through Drone-as-a-Service (DaaS) operations, providing high-resolution aerial surveys and geospatial consultancy services. It utilizes remote sensing technologies including LiDAR, satellite imagery, and drone surveys to offer clients actionable insights and comprehensive reports for business decisions. Additionally, the company generates revenue from drone training and education services and recently initiated the sale of software licenses.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Rahul Jain | Promoter | 45.72% | 33.60% |
| Amit Sharma | Promoter | 45.72% | 33.60% |
| Meenal Jain | Promoter | 0.02% | Negligible |
| Harshada Kulkarni | Promoter | 0.02% | Negligible |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.