Matrix Geo Solutions Makes Strong Debut on NSE SME Platform
Matrix Geo Solutions, a geospatial consulting and drone technology solutions provider, successfully listed on NSE's SME platform. The IPO raised Rs 40.2 crore with shares priced at Rs 98-104, achieving 7.69 times overall subscription. QIBs subscribed 12.5 times, NIIs 8.87 times, and retail investors 4.43 times. The company specializes in photogrammetry, LiDAR, GIS, and remote sensing technologies, having completed over 1,500 projects. Clients include Indian Railways, NHAI, NTPC, GAIL, Adani Group, L&T, and Tata Projects. Matrix Geo Solutions reported a 61% increase in revenue to Rs 22.20 crore and a 75% rise in PAT to Rs 5.90 crore. IPO proceeds will be used for purchasing drones, survey equipment, and meeting working capital needs.
*this image is generated using AI for illustrative purposes only.
Matrix Geo Solutions, a leading geospatial consulting and drone technology solutions provider, has successfully listed on the National Stock Exchange's (NSE) Small and Medium Enterprises (SME) platform, marking a significant milestone for the company.
IPO Details and Subscription
The company's Initial Public Offering (IPO) raised Rs 40.2 crore, with shares priced in the range of Rs 98-104. The IPO received an enthusiastic response from investors, achieving an overall subscription of 7.69 times. Breaking down the subscription data:
- Qualified Institutional Buyers (QIBs) showed strong interest, subscribing 12.5 times
- Non-Institutional Investors (NIIs) subscribed 8.87 times
- Retail investors participated with a 4.43 times subscription
Prior to the public offering, Matrix Geo Solutions successfully raised Rs 11.34 crore from anchor investors, further solidifying investor confidence in the company's prospects.
Company Profile and Expertise
Matrix Geo Solutions specializes in cutting-edge geospatial technologies, including:
- Photogrammetry
- LiDAR (Light Detection and Ranging)
- Geographic Information Systems (GIS)
- Remote sensing technologies
The company has an impressive track record, having completed over 1,500 projects. Notable projects include studies for the Mumbai-Ahmedabad bullet train corridor and the Pune-Mumbai Hyperloop, showcasing their involvement in high-profile infrastructure initiatives.
Client Base and Market Position
Matrix Geo Solutions boasts a diverse and prestigious client portfolio, including:
- Indian Railways
- National Highways Authority of India (NHAI)
- NTPC Limited
- Gas Authority of India Limited (GAIL)
- Adani Group
- Larsen & Toubro (L&T)
- Tata Projects
This client list underscores the company's strong market position and the trust it has garnered in the industry.
Financial Performance
The company has demonstrated robust financial growth:
| Metric | Value |
|---|---|
| Revenue | ↑ 61% to Rs 22.20 crore |
| Profit After Tax (PAT) | ↑ 75% to Rs 5.90 crore |
| Return on Equity (ROE) | 35.00% |
| PAT Margin | 26.50% |
These figures indicate strong profitability and efficient capital utilization.
Utilization of IPO Proceeds
The funds raised through the IPO will be strategically allocated to:
- Purchase of drones
- Acquisition of survey equipment
- Meeting working capital requirements
These investments are expected to enhance the company's operational capabilities and support its growth trajectory.
Market Response
The listing was accompanied by a 9% grey market premium, suggesting positive sentiment among investors regarding the company's future prospects.
Matrix Geo Solutions' successful listing on the NSE SME platform marks a new chapter in the company's growth story. With its strong financial performance, diverse client base, and focus on cutting-edge geospatial technologies, the company appears well-positioned to capitalize on the growing demand for advanced mapping and surveying solutions in India's rapidly developing infrastructure sector.
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