Fixed Price IPO | ₹[.] Cr | Listing at NSE SME |
Cellcronic Technologies Ltd. has filed a Draft Red Herring Prospectus (DRHP) with the exchange on May 29, 2026 to raise funds through Initial Public Offer (IPO).
Cellcronic Technologies Ltd. IPO is a Fixed Price Issue of 0.17 crore equity shares consisting of a fresh issue of upto 0.14 crore equity shares and an offer for sale (OFS) of upto 0.03 crore equity shares.
The equity shares are proposed to be listed on the NSE SME. Indcap Advisors Pvt.Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Cellcronic Technologies IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 16,70,000 shares (agg. up to ₹[.] Cr) |
| Fresh Issue | 13,50,000 shares (agg. up to ₹[.] Cr) |
| Offer for Sale | 3,20,000 shares of ₹10 (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 47,00,000 shares |
| Share Holding Post Issue | 60,50,000 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Fri, May 29, 2026 |
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | Not Less than 50% of the Net Issue |
| NII Shares Offered | Not Less than 50% of the Net Issue |
Incorporated in June 2019, Cellcronic Technologies Limited is engaged in providing solar power solutions under its "Cellcronic" brand. The company primarily focuses on hybrid solar inverter systems and Lithium Iron Phosphate (LFP) batteries for residential, institutional, and small commercial applications. It was converted into a public limited company in March 2025.
The company's product portfolio includes hybrid solar inverters (3 kW–20 kW), low-voltage and high-voltage LFP batteries, DC changeover switches, and protection boxes. Its integrated solar power systems are designed to provide efficient energy management, battery backup, grid connectivity, and uninterrupted power supply solutions.
Cellcronic follows an asset-light business model, sourcing major products from OEM partners while assembling protection boxes and battery interconnects in-house. The company distributes its products through a growing network of dealers and distributors across India, supported by online channels and third-party installers. Its in-house assembly and customization capabilities help ensure product quality, reliability, and installation consistency.
As of April 30, 2026, the company had 50 employees across technical, sales & marketing, administration, finance, commercial, and management functions.
Strengths
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 25.04 | 11.47 | 5.10 | 3.89 |
| Total Income | 26.04 | 25.99 | 17.12 | 9.24 |
| Profit After Tax | 3.13 | 3.61 | 1.42 | 0.01 |
| EBITDA | 5.41 | 5.45 | 2.33 | 0.16 |
| NET Worth | 8.19 | 5.16 | 1.55 | 0.13 |
| Reserves and Surplus | 3.49 | 5.06 | 1.45 | 0.03 |
| Total Borrowing | 13.73 | 3.09 | 9.00 | 3.65 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| IC Electricals Co.Ltd. | SME | ₹47.91 Cr | ₹99 | 9.42 | ₹174.30 | +76.06% | ₹161.65 (-3.41%) |
| Vivid Electromech Ltd. | SME | ₹130.54 Cr | ₹555 | 19.2 | ₹563.05 | +1.45% | ₹1,276.70 (+0.42%) |
| INDO SMC Ltd. | SME | ₹91.95 Cr | ₹149 | 16.1 | ₹154.80 | +3.89% | ₹375.25 (-1.30%) |
| Sugs Lloyd Ltd. | SME | ₹85.66 Cr | ₹123 | 11.91 | ₹125.85 | +2.32% | ₹138.15 (-4.16%) |
| Parth Electricals & Engineering Ltd. | SME | ₹49.67 Cr | ₹170 | 18.05 | ₹182.70 | +7.47% | ₹422.60 (+4.99%) |
| Fujiyama Power Systems Ltd. | Mainboard | ₹828.00 Cr | ₹228 | 40.85 | ₹208.44 | -8.58% | ₹365.15 (-0.42%) |
| Emmvee Photovoltaic Power Ltd. | Mainboard | ₹2,900.00 Cr | ₹217 | 34.9 | ₹219.40 | +1.11% | ₹345.05 (-5.73%) |
| Saatvik Green Energy Ltd. | Mainboard | ₹900.00 Cr | ₹465 | 24.35 | ₹440.70 | -5.23% | ₹466.40 (-0.24%) |
| Mangal Electrical Industries Ltd. | Mainboard | ₹400.00 Cr | ₹561 | 24.31 | ₹535.35 | -4.57% | ₹297.65 (+1.03%) |
| Vikram Solar Ltd. | Mainboard | ₹2,079.37 Cr | ₹332 | 75.16 | ₹356.40 | +7.35% | ₹192.22 (-1.28%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company | 11.00 |
| 2 | Funding working capital requirement of the Company | 13.00 |
| 3 | General Corporate Purposes | |
| Total | 24.00 |
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 46.85% | 107.69% |
| ROCE | 24.81% | 66.37% |
| Debt/Equity | 1.68 | 0.60 |
| RoNW | 38.19% | 70.00% |
| PAT Margin | 12.08% | 13.94% |
| EBITDA Margin | 20.88% | 21.04% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.69 | 6.89 |
| Promoter Holding | 100.00% |
Lead Manager Reports
Cellcronic Technologies IPO is a SME IPO of 16,70,000 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Cellcronic Technologies IPO open and close dates are not available as of now.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Cellcronic Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Cellcronic Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Cellcronic Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Cellcronic Technologies IPO dates are not announced. Please check back again after some time.
Cellcronic Technologies IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Cellcronic Technologies IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Cellcronic Technologies IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Cellcronic Technologies IPO allotment status.
The Cellcronic Technologies IPO listing date is not yet announced. The tentative date of listing is .
