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Gabion Technologies IPO
Gabion Technologies India Ltd
₹2,43,200 /1600 sharesMinimum Investment
Gabion Technologies IPO Details
| Bidding dates | Minimum investment | Lot size | Price range |
|---|---|---|---|
| 6 Jan ‘26 - 8 Jan ‘26 | ₹2,43,200 | 1,600 | ₹76 - ₹81 |
| Issue size | IPO doc | Tentative allotment date | Tentative listing date |
|---|---|---|---|
| 29.16 Cr | RHP PDF | 09 Jan ‘26 | 13 Jan ‘26 |
| Face value |
|---|
| 10 |
Subscription rate
As of 07 Jan'26, 02:31 PM
| Qualified Institutional Buyers | 2.91x |
| Non-Institutional Investor | 154.24x |
| Retail Individual Investor | 197.28x |
| Total | 134.17x |
About Gabion Technologies
Founded in
2008
MD/CEO
Mr Madhusudan Sarda
Parent organisation
Gabion Technologies India Ltd
Strengths & Risks of Gabion Technologies
Strengths
Risks
Gabion Technologies’ products, services and technologies are utilised across sectors and industry segments, including infrastructure projects, railway embankment formation, protection of roads and railway tracks from landslides, airport runway developments, protection of hydro power projects, river channelisation and river front developments, mining and thermal power plant waste disposal, energy pipelines protection, and beach protection, among others.
The company is accredited with IS 16014:2018, ISO 14001:2015, ISO 45001:2018, ISO 9001:2015, and OHSAS 18001:2007 for quality management system, and IS 16014:2012.
The company claims to have independently completed 76 work contracts, having an aggregate contract value of Rs 127.60 crore. This includes 36 projects in the roads sector, 12 in the Railways, eight in the private commercial sector, nine in the energy sector, three in mining, three in airports, three in Defence sector and two in the water resources sector. As of the date of the RHP, the company’s work order book stood at Rs 172.47 crore.
Gabion Technologies claims to be pre-qualified to bid independently for projects tendered by departments and entities funded by the government of India.
The company, which has its corporate office in Delhi, operates a manufacturing unit of 9,273 square metres in Himachal Pradesh, marketing offices in Guwahati, Mumbai and Bangalore and six project offices.
Gabion Technologies has a team of seven design engineers who work closely with customers and 32 civil engineers on its payroll.
The company markets its products across 29 States and Union Territories. However, a major portion of its revenue comes from the states in Northern and Eastern India. Revenue from Northern and Eastern India for the period ended November 30, 2025 and FY5, FY24 and FY23 came in at Rs 39.28 crore (66.23%), Rs 76.46 crore (76.99%), Rs 76.91 crore (73.95%) and Rs 67.32 crore (85.73%), respectively. Any slowdown in business in these states could significantly impact the financials of the company.
The company is dependent on a few suppliers for the procurement of raw materials. Since it does not have any long-term agreements with these suppliers, any supply disruption or price fluctuations could have a material impact on its business and finances.
As of November 30, 2025, 21.70% of Gabion Technology’s revenue came from projects undertaken by government authorities and government-funded entities, where contracts are awarded through a competitive tendering process. The company competes with infrastructure players, and any failure to qualify may result in loss of business. The company cannot provide any assurance that the bids submitted by it will be accepted or that it will be awarded the contract.
The company operates in a highly competitive and low-entry-barrier industry. It competes with numerous established players, including local and international competitors. As a result, if it is unable to effectively differentiate its products, maintain cost efficiency, and respond to industry trends and customer demands, it may face increased pricing pressure and reduced profitability.
The company’s promoters, directors, related entities, subsidiary companies and other ventures promoted by its promoters are engaged in a similar line of business. Due to the lack of a non-compete agreement with any of these entities, any conflict of interest could negatively impact the operations of the business.
The company operates in a manpower intensive industry, and it has experienced consistently high attrition rates in recent periods. For the period ended November 30, 2025, and FY25, FY24 and FY23, its attrition rate stood at 36.42%, 55%, 45% and 39%, respectively. Any inability to source and retain the right manpower could hurt the company’s operations and finances.
The company and its directors are involved in certain ongoing legal proceedings. Adverse judgments in any of these cases could hurt the company’s business prospects.
As of November 30, 2025, the company had a total debt of Rs 52.05 crore, resulting in a debt-equity ratio of 1.98. This indicates a relatively high reliance on debt financing for its operations and growth initiatives, which in turn increases its commitments towards interest and principal repayments. Any inability to service this debt on time could impact its liquidity position.
The company experienced negative cash flows from its operating activities. These stood at Rs 0.22 crore for the period ended November 30, 2025, Rs 3.62 crore in FY25, Rs 1.85 crore in FY24 and Rs 4.31 crore in FY23. Sustained negative cash flow could hurt the company’s operations and growth plans.
Gabion Technologies Financials
*All values are in Rs. Cr
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Application Details of Gabion Technologies IPO
| Apply as | Price band | Apply Range | Lot size |
|---|---|---|---|
| Individual investor | ₹76 - 81 | ₹2 - 5 Lakh | 1600 |
For Gabion Technologies IPO, eligible investors can apply as Individual investor.