Paluck Technologies IPO: Check Price Band, Timeline & Key Details
- Paluck Technologies files DRHP for ₹23.10 crore SME IPO, opening 28-Aug-2026.
- Revenue grew to ₹105.02 Crore (11M FY2026); PAT surged to ₹13.84 Crore.
- Proceeds fund RMC machinery (₹10 Cr), working capital (₹10 Cr), and debt repayment (₹3.10 Cr).
- Key risk: Criminal complaint filed by Tata Capital for ₹523.43 lakhs loan default.
- Top 10 customers contributed 44.73% of revenue in the latest period.
*this image is generated using AI for illustrative purposes only.
Paluck Technologies Limited, a diversified engineering services and infrastructure support firm, has filed its Draft Red Herring Prospectus (DRHP) with SEBI. The Gurgaon-based company proposes a fresh issue of ₹23.10 crore through an SME IPO. The issue opens on 28-Aug-2026.
Company Overview
Paluck Technologies Limited operates across three core segments: Automobile & Engineering Services, Logistics & Equipment Rental, and Telecom Engineering. Incorporated in 2010, it is one of the largest construction equipment rental fleet operators in North India.
The company’s logistics fleet includes 92 transit mixers, 13 concrete pumps, and 23 logistics trucks. In telecom, it has managed over 7,500 sites across India. Its automobile segment involves authorized dealerships for power equipment and commercial vehicles, including NGT-compliant diesel generator sets.
Offer Details
The proposed SME issue consists solely of a fresh issue component. There is no Offer for Sale (OFS).
| Parameter | Details |
|---|---|
| Issue Type | SME IPO (Fresh Issue) |
| Fresh Issue Size | ₹23.10 Crore |
| Price Band | Not Available |
| Lot Size | Not Available |
| Issue Opening Date | 28-Aug-2026 |
| Issue Closing Date | 01-Sep-2026 |
| Allotment Date | 02-Sep-2026 |
| Listing Date | 04-Sep-2026 |
Objects of the Issue
The proceeds from the fresh issue will be utilized as follows:
- Capital Expenditure: ₹10.00 Crore for purchase of new Ready-Mix Concrete (RMC) machinery and DG sets.
- Working Capital: ₹10.00 Crore to strengthen presence across business segments and support order book execution.
- Debt Repayment: ₹3.10 Crore for pre-payment/re-payment of certain outstanding borrowings.
- General Corporate Purpose: Balance proceeds (not to exceed 15% of Gross Proceeds or ₹10 Crore, whichever is lower).
Financial Highlights
Paluck Technologies reported steady revenue growth and significant improvement in profitability over the last three years. Revenue from operations grew from ₹92.26 Crore in FY2023 to ₹105.02 Crore in the period ending Feb-2026.
| Financial Period | Revenue from Operations (₹ Cr) | PAT (₹ Cr) | PAT Margin (%) |
|---|---|---|---|
| FY2023 | 92.26 | 2.18 | 2.36% |
| FY2024 | 100.74 | 3.43 | 3.37% |
| FY2025 | 102.81 | 9.63 | 9.36% |
| Period Ending Feb-2026 | 105.02 | 13.84 | 13.17% |
Profit After Tax (PAT) improved significantly from ₹2.18 Crore in FY2023 to ₹13.84 Crore in the period ending Feb-2026. Total expenses declined from ₹96.81 Crore in FY2024 to ₹86.61 Crore in the period ending Feb-2026, indicating improved cost efficiency.
Risk Factors
Investors should note the following material risks disclosed in the DRHP:
- Legal Proceedings & Loan Default: The company has defaulted on a loan facility from Tata Capital Limited, with a criminal complaint filed for ₹523.43 lakhs. Outstanding legal proceedings aggregate to ₹228.34 lakhs.
- Customer Concentration: Top 10 customers accounted for 44.73% of revenue in the period ending Feb-2026 and 65.56% in FY2023.
- Past Loan Delays: Delays in repayment of loans from Equitas Small Finance Bank Limited totaling ₹101.05 lakhs were reported in 2025-2026.
- Geographic Concentration: Significant operations and revenues are concentrated in North India, exposing the company to regional risks.
Valuation & Peer Comparison
Price band and peer comparison data are not available in the current DRHP filing. Investors must wait for the final prospectus for valuation metrics such as P/E ratio and comparison with listed peers.
Bottom Line
Paluck Technologies presents a profile of improving profitability and asset-backed operations in infrastructure and telecom. However, the presence of outstanding legal proceedings and loan defaults requires careful due diligence by potential investors before the issue opens on 28-Aug-2026.
How might the ongoing legal proceedings and the specific loan default with Tata Capital impact Paluck Technologies' credit rating and ability to secure future financing post-IPO?
Given the high customer concentration (44.73% from top 10 clients), what strategies does management plan to implement to diversify its revenue base and reduce dependency on key accounts?
Will the ₹10 crore allocation for capital expenditure on RMC machinery and DG sets be sufficient to maintain competitive margins amidst rising input costs and inflation in the construction sector?
19
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
