MARC Technocrats IPO

Marc Technocrats Ltd

₹2,11,200 /1200 sharesMinimum Investment

MARC Technocrats IPO listing details

Listed onIssue priceListing priceListing gains
--₹93.00₹74.40-₹18.60 (20.00%)

MARC Technocrats IPO Details

Bidding datesMinimum investmentLot sizePrice range
17 Dec ‘25 - 19 Dec ‘25₹2,11,2001,200₹88 - ₹93
Issue sizeIPO docTentative allotment dateTentative listing date
42.59 Cr
RHP PDF
22 Dec ‘2524 Dec ‘25
Face value
10

Subscription rate

As of 19 Dec'25, 04:31 PM
Qualified Institutional Buyers9.51x
Non-Institutional Investor7.93x
Retail Individual Investor9.78x
Total8.81x

About MARC Technocrats

Marc Technocrats Limited is an infrastructure consultancy company engaged in providing professional services for infrastructure development projects. The company’s operations include supervision and quality control, preparation of detailed project reports, third-party techno-financial audits, and pre-bid advisory services. It works across sectors such as roads and highways, railways, buildings, and water resources. Marc Technocrats primarily follows a business-to-government (B2G) model, offering services to clients including the Ministry of Road Transport and Highways (MoRTH), the National Highways Authority of India (NHAI), the National Highways and Infrastructure Development Corporation Limited (NHIDCL), various public works departments (PWDs), and the railways. Its consultancy services cover the complete project lifecycle from concept to commissioning, including technical design, cost estimation, environmental and social impact assessment, and financial analysis.;
Founded in
2007
MD/CEO
Mr Hitender Kumar
Parent organisation
Marc Technocrats Ltd

Strengths & Risks of MARC Technocrats

Strengths
Risks
Marc Technocrats states that it offers consultancy across the full infrastructure project lifecycle, from concept to commissioning. It lists survey, master planning, technical evaluation studies, planning and design, project costing, operation and maintenance studies, engineering/social/economic analyses, supervision, testing and commissioning, project management, quality management, and safety. It also claims to experiment with the adoption of newer technologies in existing and adjacent sectors.
The company reports that its major clients include the Government of India departments and ministries such as MoRTH, NHIDCL, NHAI, various PWDs, and the railways. It also provides services to clients in the private sector. It claims that its continued efforts enable it to provide additional value to existing clients and increase its potential market.
The company has witnessed a consistent increase in its revenue from operations. It increased from Rs 19.40 crore in FY22 to Rs 20.16 crore in FY23 and Rs 26.04 crore in FY24.
Marc Technocrats derives a majority share of its revenue from government-tendered infrastructure projects. The company’s operations are therefore highly exposed to policy changes, funding constraints, or shifts in government priorities toward infrastructure development. Any unfavourable changes in government budget allocations, delays in project awards, or termination or renegotiation of contracts by public authorities could adversely affect its business operations, cash flows, and overall financial performance.
The top customer accounted for Rs 3.33 crore (15.32 percent) of the company’s revenue for the period ended September 30, 2024; Rs 2.50 crore (21.79 percent) in FY24; Rs 2.41 crore (27.16 percent) in FY23, and Rs 2.32 crore (22.72 percent) in FY22. Failure to retain this key customer could adversely affect the company’s business and financial standing.
Marc Technocrats’ revenue is concentrated in the supervision and quality control (SQC) segment. It accounted for Rs 17.91 crore (82.29 percent) of the company’s revenue for the period ended September 30, 2024; Rs 24.28 crore (93.26 percent) in FY24; Rs 18.81 crore (93.31 percent) in FY23, and Rs 17.92 crore (92.35 percent) in FY22. Any decline in demand for SQC due to procurement changes, market shifts, or technology-led substitutions could adversely affect the company’s revenues and operating results.
The company’s promoters and directors are involved in certain ongoing legal proceedings. Adverse judgments in any of these cases could hurt the company’s business prospects.
As of September 30, 2024, the company had contingent liabilities of Rs 8.99 crore, up from Rs 7.67 crore in FY24, Rs 3.41 crore in FY23, and Rs 2.80 crore in FY22. If any of these contingent liabilities materialise, it could adversely affect the company’s financial condition.
The company reported negative cash flow from investing activities amounting to Rs 1.24 crore for the period ended September 30, 2024; Rs 4.93 crore in FY24; Rs 3.82 crore in FY23; and Rs 5.64 crore in FY22. This was mainly due to the purchase of fixed assets and investment property. Additionally, negative cash flow from financing activities amounted to Rs 0.15 crore for the period ended September 30, 2024, and Rs 1.00 crore in FY22. This was driven by repayment of long-term borrowings and interest cost. Sustained negative cash flow in the future could adversely affect the company’s operations, liquidity, and financial condition.
A substantial share of Marc Technocrats’ revenue depends on securing new projects through competitive tenders, where timing and outcomes are outside the company’s control. Prolonged bid cycles, negotiation contingencies, or losing tenders to competitors can delay or reduce order inflow, causing quarter-to-quarter volatility in revenue and earnings. Delays in appointed dates or mobilisation on awarded contracts can further defer revenue recognition and strain resource allocation.
As of September 30, 2024, the company had trade receivables of Rs 6.91 crore, up from Rs 5.96 crore in FY24; Rs 5.78 crore in FY23, and Rs 4.82 crore in FY22. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
As of September 30, 2024, the company had outstanding financial indebtedness of Rs 10.64 crore. Failure to service or repay these loans can harm the company’s operations and financial position.

MARC Technocrats Financials

*All values are in Rs. Cr
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Application Details of MARC Technocrats IPO

Apply asPrice bandApply RangeLot size
Individual investor88 - 93₹2 - 5 Lakh1200
For MARC Technocrats IPO, eligible investors can apply as Individual investor.