Merritronix IPO Day 2: GMP ₹87 (₹-3)
Welcome back to our daily dive into the Merritronix IPO! It’s Day 2 of the subscription period, and we’re here to break down exactly what’s happening. While the IPO is open until June 3rd, 2026, the initial response is always a key indicator. Let’s see how Merritronix is shaping up on the BSE SME platform.
| Date | GMP | Est. Listing |
|---|---|---|
| 06 Jun | +₹62 | ₹211 |
| 05 Jun | +₹77 | ₹226 |
| 04 Jun | +₹78 | ₹227 |
| 03 Jun | +₹87 | ₹236 |
| 02 Jun | +₹87 | ₹236 |
Subscription Status
As of the close of Day 2, the subscription numbers for Merritronix are still showing a zero across all categories: Retail, NII (Non-Institutional Investors), and QIB (Qualified Institutional Buyers). Total subscription is also at 0x. Now, before you panic, it’s crucial to understand what this means. For many SME IPOs, especially those launching on a Monday, the initial days can be slow. Investors often prefer to wait and observe the trend, especially for the first day. The real action usually picks up towards the end of the subscription window. However, the complete absence of bids across the board, even in the retail segment which is typically the first to show interest, is something to keep an eye on. It doesn’t necessarily signal a lack of interest yet, but it suggests a cautious approach from all investor types. You’ll want to see some movement here by tomorrow morning.
| Category | Subscription | Progress |
|---|---|---|
| Retail | 297.64x | |
| NII / HNI | 476.94x | |
| QIB | 224.91x | |
| Total | 315.42x |
| Date | Retail | NII | QIB | Total |
|---|---|---|---|---|
| 03 Jun | 297.64x | 476.94x | 224.91x | 315.42x |
| 02 Jun | 89.25x | 107.46x | 3.09x | 68.59x |
| 01 Jun | 22.62x | 21.63x | 0.00x | 15.96x |
GMP Update
Moving on to the Grey Market Premium (GMP), Merritronix is currently hovering at ₹87. Yesterday, it was a notch higher at ₹90. This represents a slight decrease of ₹3. While a ₹3 dip might seem insignificant, any downward movement in GMP, especially on Day 2, can be a point of concern for potential investors. The GMP of ₹87, when added to the issue price of ₹149, suggests an expected listing price of around ₹236. This is a healthy premium, indicating that the market sentiment is still positive towards Merritronix, aiming for a substantial gain on listing day. However, the slight dip is a reminder that GMPs are dynamic and influenced by market sentiment and subscription levels. It’s always wise to track this closely.
Should You Apply?
So, the million-dollar question: should you be applying for Merritronix? It’s a bit of a mixed bag right now. On one hand, the expected listing price of ₹236, derived from the current GMP, offers an attractive potential return. The issue price of ₹149 for 1000 shares means you’re looking at a decent profit margin if the GMP holds or improves. However, the zero subscription across all categories on Day 2 is definitely a point to ponder. It suggests that the market is still in a wait-and-watch mode. The SEBI advisors often recommend evaluating an IPO based on a combination of factors, including the company’s fundamentals, its industry prospects, the management team, and of course, market sentiment as reflected in GMP and subscription levels. Given the current scenario, I’d advise caution. Don’t rush your decision. Keep a close watch on the subscription numbers tomorrow, especially in the last hours of Day 3. A sudden surge in subscriptions would be a very encouraging sign. If the numbers remain sluggish, you might want to reconsider. It’s all about finding that sweet spot between potential upside and perceived risk.
For a more detailed look at Merritronix IPO, including financials and other important information, you can View Full Merritronix IPO Details.