| Annual Financials | Mar 2024 | Mar 2025 | Feb 2026 |
| Revenue | 100.74 | 102.81 | 105.02 |
| Expenses | 96.81 | 90.05 | 86.61 |
| Other Income | 1.00 | 0.09 | 0.08 |
| Total Revenue | 101.74 | 102.90 | 105.09 |
| Profit Before Tax | 4.93 | 12.84 | 18.49 |
| Net Profit | 3.43 | 9.63 | 13.84 |
Paluck Technologies
Paluck Technologies IPO
₹2,76,000
22.54 xOver-subscribedBidding Dates 28 Aug, 26 -01 Sept, 26
Min Investment ₹2,76,000
Lot Size3,000
Price Range ₹46 – ₹48
Issue Size ₹33.00 Cr.
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IPO Subscription Details
Retail Subscription Details
30.27 x
Non-Institutional Buyers (sHNI)
20.96 x
Non-Institutional Buyers (bHNI)
20.4 x
Qualified Institutional Buyers (QIB)
10.51 x
Total22.54 x
22.54 x IPO Timeline
IPO Offer Start
28 Aug,26
IPO Offer Ends
01 Sept,26
Allotment Finalisation
02 Sept,26
Refund Initiation
03 Sept,26
Listing of Shares
04 Sept,26
IPO Analysis
Strengths
The company has specialized expertise in NGT compliant diesel generator sets and environmental product solutions, positioning it well for regulatory compliance requirements.
The company has established contracts with major telecom OEMs and has managed over 7,500 telecom sites across India, demonstrating strong industry relationships.
The company operates a substantial asset base comprising 92 transit mixers, 13 concrete pumps, and 23 Logistics Trucks, making it one of the largest construction equipment rental fleets in North India.
Risks
The company is heavily dependent on a limited number of customers, with top 10 customers accounting for 44.73% of revenue in February 2026 and 65.56% in Fiscal 2023. Any loss of business or deterioration in commercial terms with these customers could materially affect revenues, cash flows, and profitability.
The company experienced delays in repayment of loans from Equitas Small Finance Bank Limited totaling ₹101.05 lakhs in 2025-2026. While regularized, such delays may adversely affect credit profile, restrict access to future financing, and impact investor confidence.
The company's projects are subject to delays, cost overruns, and cancellations from external factors such as land acquisition hurdles, statutory approvals, labor unrest, and adverse weather conditions. These risks could adversely affect revenue recognition, profitability, and customer confidence.
Objectives
The company proposes to purchase additional Ready-Mix Concrete machinery and DG sets to enhance execution capacity and optimize revenue streams. The equipment will primarily be deployed on a lease basis to clients, providing stable and recurring cash flows while ensuring compliance with prevailing environmental standards.
The company proposes to utilize proceeds towards full or partial repayment or pre-payment of certain borrowings availed from lenders. This will help reduce outstanding indebtedness, debt servicing costs, assist in maintaining a favorable debt to equity ratio and enable utilization of internal accruals for further business growth.
The company proposes to utilize proceeds towards funding working capital requirements to support future growth. This includes strengthening presence across existing business segments, supporting outstanding order book execution, and capitalizing on growing demand from infrastructure development and telecom network expansion.
The company intends to deploy the balance proceeds towards general corporate purposes including initial development costs for new products, meeting operating expenses, strengthening business development and marketing capabilities, and meeting exigencies. The amount shall not exceed fifteen percent of the Gross Proceeds or ten crores, whichever is lower.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Feb 2026 |
| Total Assets | 53.53 | 66.98 | 69.62 |
| Current Assets | 36.77 | 54.52 | 59.96 |
| Fixed Assets | 16.76 | 12.45 | 9.65 |
| Total Equity & Liabilities | 53.53 | 66.98 | 69.62 |
| Total Liabilities | 35.05 | 35.16 | 23.96 |
| Current Liabilities | 20.43 | 28.12 | 19.17 |
| Non Current Liabilities | 14.63 | 7.04 | 4.79 |
| Total Equity | 18.48 | 31.82 | 45.66 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Feb 2026 |
| Net Cash Flow | -0.03 | 0.15 | -0.12 |
| Investing Activities | 0.87 | 0.02 | -0.01 |
| Operating Activities | 11.90 | 10.85 | 6.90 |
| Financing Activities | -12.80 | -10.73 | -7.01 |
About Paluck Technologies
Paluck Technologies Limited is a diversified engineering services and infrastructure support organization operating across three main segments: Automobile & Engineering Services, Logistics & Equipment Rental, and Telecom Engineering. The company operates one of the largest construction equipment rental fleets in North India with 92 transit mixers, 13 concrete pumps, and...more
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Managing DirectorNavin Katiyar
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