Paluck Technologies IPO Day 2 Live: Total jumps to 20.53x, Retail leads

Paluck Technologies IPO Day 2 Live: Total jumps to 20.53x, Retail leads - Check analysts view and more

2 min read | Published on 31 Aug 2026, 11:21 AM |Updated on 31 Aug 2026, 12:23 PM

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Key Highlights

Paluck Technologies IPO subscribed 20.53x by end of Day 2.
Retail category leads with 26.91x subscription, up 384% from Day 1.
NII (bHNI) jumped 578% to 18.79x, showing strong HNIs interest.
Issue size ranges between ₹27.60 crore and ₹50.00 crore.
IPO closes on September 1, 2026; listing expected on September 4, 2026.

*this image is generated using AI for illustrative purposes only.

Paluck Technologies IPO has surged to 20.53x on Day 2, driven by a massive retail rally of 26.91x and NII spike of 18.79x. The issue remains open until September 1, 2026.

Subscription Status

The IPO saw explosive interest from retail and non-institutional investors on Day 2. Here is the day-wise breakdown:

Day	Date	QIB	NII (bHNI)	NII (sHNI)	Retail	Total
Day 1	28-08-2026	10.49x	2.77x	1.49x	5.56x	6.19x
Day 2	31-08-2026	10.51x	18.79x	19.16x	26.91x	20.53x

Intra-day timeline on 31-08-2026:

Time (IST)	QIB	NII (bHNI)	Retail	Total
11:15	10.49x	2.77x	5.56x	6.19x
12:15	10.51x	18.79x	26.91x	20.53x

Retail category is the clear leader, accounting for a significant portion of the oversubscription. The Non-Institutional Buyer (NII) categories show massive interest, with small HNI investors subscribing 18.79x and big HNI investors at 19.16x.

About the Company

Paluck Technologies Limited is a diversified engineering services and infrastructure support organization founded in 2010. It operates across three main segments: Automobile & Engineering Services, Logistics & Equipment Rental, and Telecom Engineering. The company manages one of the largest construction equipment rental fleets in North India, including 92 transit mixers and 13 concrete pumps. It also provides telecom engineering services to major OEMs, managing over 7,500 telecom sites across India. Key management includes MD Navin Katiyar and CEO Sumit Kumar Bajaj.

Financial Highlights

The company has shown consistent revenue growth over the last three years, with profits improving significantly in FY26.

Particulars	FY24 (₹ crores)	FY25 (₹ crores)	FY26 (₹ crores)
Revenue from Operations	100.74	102.81	105.02
Total Profit (PAT)	3.43	9.63	13.84
Total Equity	18.48	31.82	45.66

Revenue grew from ₹100.74 crore in FY24 to ₹105.02 crore in FY26. Net profit surged from ₹3.43 crore to ₹13.84 crore in the same period, reflecting improved operational efficiency.

Objects of the Issue

The proceeds from the IPO will be utilized as follows:

Funding capital expenditure towards the purchase of new Ready-Mix Concrete (RMC) machinery and DG sets: ₹10.00 crores
Funding the Working Capital requirement: ₹10.00 crores
Pre-payment/re-payment of certain outstanding borrowings: ₹3.10 crores
General Corporate Purpose: Balance proceeds (up to 15% of Gross Proceeds or ₹10 crores)

Risk Factors

Investors should note the following key risks associated with the company:

Heavy Dependence on Limited Number of Customers: Top 10 customers accounted for 44.73% of revenue in February 2026.
Past Loan Repayment Delays and Credit Profile Impact: Delays in repayment of loans from Equitas Small Finance Bank were reported in 2025-2026.
Cyclical Nature of Infrastructure and Construction Sectors: Revenues are tied to cyclical sectors susceptible to economic slowdowns.

Key Dates

IPO Open Date: 2026-08-28
IPO Close Date: 2026-09-01
Allotment Date: 2026-09-02
Listing Date: 2026-09-04

Will the extreme oversubscription driven by retail and NII investors lead to a significant listing gain, or does the valuation already price in future growth expectations?

How might the company's heavy reliance on its top 10 customers for nearly 45% of revenue impact its resilience if key clients reduce infrastructure spending?

Given the reported loan repayment delays with Equitas Small Finance Bank, what steps is management taking to restore creditworthiness and secure future financing post-IPO?