New Delhi-based Gabion Technologies India, specialising in manufacturing of steel wires and gabions, is set to hit Dalal Street with its Initial Public Offering (IPO) on January 6. The price band for the offer has been fixed at Rs 76-81 per share.
The company is raising Rs 29.16 crore via maiden public issue of 36 lakh shares at the upper price band. The offer comprises entirely fresh issue with no offer-for-sale component.
The public issue will remain open till January 8, while the share allotment will be finalised by January 9. Gabion shares will be available for trading on the BSE SME effective January 13.
Its IPO shares consistently attracted more than 30 percent premium in the grey market, the market observers said, especially since the IPO launch.
Incorporated in 2008, the Madhusudan Sarda-promoted company manufactures gabions, rockfall protection nettings, and geosynthetic materials used mainly in civil engineering, infrastructure development, and environmental protection projects.
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Gabion will utilise Rs 22.1 crore of IPO proceeds for its working capital requirements, Rs 1.05 crore for purchasing plant and machinery, and the remaining funds for general corporate purposes.
On the financial front, the company recorded profit of Rs 4.3 crore on revenue of Rs 60.4 crore for eight months period ended November 2025. For the fiscal year ended March 2025, profit increased to Rs 6.6 crore, up nearly 15 percent from Rs 5.8 crore in previous year, however, revenue declined 4.2 percent to Rs 100.4 crore, down from Rs 104.8 crore during the same period.
Combining both services and supply of goods, Gabion expects to achieve approximately Rs 120 crore in revenue for FY26.
As of October 2025, the company has confirmed service work orders worth Rs 84.62 crore.
"We have already earned Rs 19.98 crore from service work up to September 2025 and expects an addition of approximately Rs 45 crore in the remaining months, bringing total service revenue approximately up to Rs 64.98 crore," Gabion said.
In addition, its supply of goods division has already achieved Rs 25.12 crore in revenue up to September 2025 expects earnings of approximately Rs 29.90 crore by year ended March 2026, resulting in total supply of goods revenue of up to Rs 55.02 crore.
GYR Capital Advisors is acting as the book running lead manager for the Gabion Technologies IPO.
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