Paluck Technologies IPO
Paluck Technologies LtdSME
This IPO closed on 1 Sep 2026.
- Open date
- 28 Aug 2026
- Close date
- 1 Sep 2026
- Min. Investment
- ₹2,88,000
- Lot Size
- -
- Fresh Issue
- ₹33.00 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers83.89x
- Non-Institutional Investors212.40x
- Retail-Individual Investors372.67x
- Total252.70x
Schedule
- Completed: IPO open date28 Aug 2026
- Completed: IPO close date1 Sep 2026
- Current step: Allotment date2 Sep 2026
- Upcoming: Funds unblock or debit3 Sep 2026
- Upcoming: Tentative listing date4 Sep 2026
About
Promoter shareholding in Paluck Technologies Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Navin Katiyar | 47,70,596 | 34.21% | 47,70,596 | 22.91% |
| Praveen Kumar | 32,81,769 | 23.53% | 32,81,769 | 15.76% |
| Sarika Katiyar | 13,84,911 | 9.93% | 13,84,911 | 6.65% |
| Sumit Kumar Bajaj | 26,32,500 | 18.88% | 26,32,500 | 12.64% |
Paluck Technologies IPO Strengths & Risks
- Geographical presence and strategic location of our operations.
- Quality Assurance and Quality Control of our products.
- Strong, cordial & long-term relationship with our customers
- Cost effective solutions and timely fulfilment of requirements
- Well experienced management team with proven project management and implementation skills
- Risks Relating to the Business: The company is heavily dependent on a limited number of customers, and any loss of business, reduction in orders, or deterioration in commercial terms with these customers could materially and adversely affect its revenues, cash flows, profitability, and long-term growth prospects.
- Risks Relating to the Business: The Company has experienced delays in repayment of loans in the past.
- Risks Relating to the Business: There have been instances of non-compliance in filling statutory forms which were required to be filed as per the reporting requirements with the Registrar of Companies under the Companies Act in the past which may attract penalties.
- Risks Relating to the Business: There are instances of overdue accounts which may expose it to financial and operational risks.
- Risks Relating to the Business: Non-receipt of No Objection Certificates (NoCs) and consents from equipment financiers may impact the Company's ability to utilize certain assets or create further security on them.
- Risks Relating to the Business: Non-filing of statutory returns with the Registrar of Companies (RoC) for the past four years may attract regulatory action and impact the Company't compliance record.
- Risks Relating to the Business: Certain legal proceedings have been initiated against it for which the company has not been served with summons, notices or related case papers, which limits the Company's ability to make complete disclosures in this Draft Red Herring Prospectus.
- Risks Relating to the Business: The Company's projects are subject to risks of delays, cost overruns, and cancellations arising from multiple external factors such as land acquisition hurdles, statutory approvals, labor unrest, and adverse weather conditions, which could adversely affect revenue recognition, profitability, customer confidence, and its reputation in the market.
- Risks Relating to the Business: A part of the Net Proceeds will be utilized for the repayment or prepayment of indebtedness availed of by the Company.
- Risks Relating to the Business: The Company's revenues are closely tied to the performance of the infrastructure and construction sectors, which are cyclical in nature, and downturns in these sectors due to economic slowdowns, reduced government spending, or regulatory changes could lead to underutilization of assets, reduced margins, and adverse impact on its overall financial condition
- Risks Relating to the Business: The company is heavily dependent on the continuous availability, maintenance, and optimal utilization of its fleet and equipment, and any prolonged downtime, breakdowns, accidents, or underutilization could significantly affect the company operational performance, profitability, and reputation.
- Risks Relating to the Business: The company has intend to utilise a portion of the Net Proceeds towards capital expenditure towards the purchase of new Ready- Mix Concrete (RMC) machinery and DG sets, and the company cannot assure you that the company will be able to derive the benefits from the proposed object.
- Risks Relating to the Business: Failures to File ADT-3 for Resignation of Previous Statutory Auditor May Attract Regulatory Action and Impact the Company's Compliance Standing.
- Risks Relating to the Business: The company is yet to place orders for equipment proposed to be funded through this Issue. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment in a timely manner, or at all, it may result in time and cost over-runs and its business, results of operations, financial condition and cash flows may be adversely affected.
- Risks Relating to the Business: The Company's business model is working capital intensive and requires substantial upfront financing for fleet, manpower, and consumables, and any delays in receivables or constraints in obtaining external funding could strain its liquidity and impact the Company's ability to deliver projects on time.
- Risks Relating to the Business: The Company's reliance on dealership and service agreements with OEMs exposes us to renewal, compliance, and termination risks, and any non-renewal or suspension of these agreements could deprive it of key revenue streams and market presence
- Risks Relating to the Business: The Company's telecom engineering business depends on contracts from OEMs, and any slowdown in network rollouts, budget constraints, or shift to in-house execution by OEMs may adversely affect order inflow and margins.
- Risks Relating to the Business: Delays in the rollout of telecom networks, particularly 5G deployment, due to regulatory uncertainties or capital expenditure constraints of operators could defer projects and materially impact the Company's growth.
- Risks Relating to the Business: A significant proportion of our operations and revenues are concentrated in North India, exposing it to regional economic, political, and regulatory risks that could disproportionately affect the Company's performance.
- Risks Relating to the Business: The Company's operate in competitive markets across telecom, logistics, equipment rental, and dealerships, and rising competition from organized and unorganized players may reduce its margins and growth prospects.
- Risks Relating to the Business: Managing diverse business operations across multiple verticals increases operational complexity, and any inefficiency in resource allocation or management oversight could impair the Company's profitability
- Risks Relating to the Business: The Company's operations are exposed to volatility in fuel prices, particularly diesel, and any inability to pass on increased costs to customers may reduce margins
- Risks Relating to the Business: The Company's business is exposed to risks of accidents, safety incidents, and third-party liabilities, which could result in financial losses and reputational harm
- Risks Relating to the Business: The Company's depend on timely availability of spare parts, and third-party services, and any disruption in supply chains could impact project execution and increase costs.
- Risks Relating to the Business: Any slowdown in economic growth, reduction in infrastructure spending, or adverse global developments could materially impact demand for its services
- Risks Relating to the Business: Significant differences exist between IGAAP used to prepare our financial information and other accounting principles, such as U.S. GAAP and IFRS, which may affect investors' assessments of the Company's financial condition.
- Risks Relating to the Business: Reputation risks arising from project delays, equipment failures, or service deficiencies could adversely affect the Company's ability to win new business.
- Risks Relating to the Business: The Company had negative cash flows from investing and financing activities in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.
- Risks Relating to the Business: The Company is dependent on a domestic market and its clients located in India for its sales and any downturn in it could reduce the Company's sales.
- Risks Relating to the Business: If the company is not able to obtain, renew or maintain our statutory and regulatory licenses, registrations and approvals required to operate its business, it may have a material adverse effect on the company business, results of operations and financial condition.
- Risks Relating to the Business: Failures to manage its inventory could have an adverse effect on the Company's net sales, profitability, cash flow and liquidity.
- Risks Relating to the Business: There can be no assurance that the objects of the Issue will be achieved within the time frame anticipated or at all, or that the deployment of the Net Proceeds in the manner intended by it will result in any increase in the value of your investment. Further, the plan for deployment of the Net Proceeds has not been appraised by any bank or financial institution.
- Risks Relating to the Business: There have been instances of delays in filing of GST returns by the Company. In case of any delay in in filing of statutory returns in future by the Company, the Regulatory Authorities may impose monetary penalties on i or take certain punitive actions against the Company in relation to the same which may have adverse impact on the Company's business, financial condition and results of operations.
- Risks Relating to the Business: The Company's inability to effectively manage its growth or to successfully implement the Company's business plan and growth strategy could adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company does not own certain premises used by the Company. Disruption of the Company's rights as licensee/ lessee or termination of the agreements with its licensors/ lessors would adversely impact the company manufacturing operations and, consequently, the Company's business.
- Risks Relating to the Business: The company is dependent on information technology systems in carrying out the Company's business activities and it forms an integral part of its business. Further, if the company is unable to adapt to technological changes and successfully implement new technologies or if the company faces failures of the Company's information technology systems, the company may not be able to compete effectively which may result in higher costs and would adversely affect its business and results of operations.
- Risks Relating to the Business: The Company's lenders have charge over its movable and immovable properties in respect of finance availed by it.
- Risks Relating to the Business: The company may not be able to prevent others from unauthorized use of the Company's intellectual property and may in the future become subject to patent, trademark and/or other intellectual property infringement claims.
- Risks Relating to the Business: The intellectual Property Rights used by the company are registered in the name of the company, but any infringement of third-party intellectual property rights or failures to protect its intellectual property rights may adversely affect the Company's business.
- Risks Relating to the Business: The company is subject to strict performance requirements, including, but not limited to, quality and delivery, by its customers, and any failures by it to comply with these performance requirements may lead to reduction in the Company's order value, recalls or liability claims.
- Risks Relating to the Business: The Company's Directors, Promoters and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: The Company's Promoter, Directors and Key Managerial Personnel have interests in the Company other than reimbursement of expenses incurred or normal remuneration or benefits.
- Risks Relating to the Business: The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further, the company have not identified any alternate source of financing the `Objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
- Risks Relating to the Business: The Company's success largely depends upon the knowledge and experience of its Promoter, Directors, and the Company's Key Managerial Personnel. Loss of any of its Directors and key managerial personnel or the Company's ability to attract and retain them could adversely affect its business, operations and financial condition.
- Risks Relating to the Business: The Company's Promoters and members of the Promoter Group have significant control over the Company and have the ability to direct its business and affairs; their interests may conflict with your interests as a shareholder.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares held by its Promoters could be lower than the Issue Price.
- Risks Relating to the Business: The Company's future fund requirements, in the form of further issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
- Risks Relating to the Business: The company has in past entered into related party transactions and the Company's may continue to do so in the future.
- Risks Relating to the Business: The Company's has certain contingent liabilities and its financial condition and profitability may be adversely affected if any of these contingent liabilities materialize.
- Risks Relating to the Business: The Company's Promoters and members of its Promoter Group have extended personal guarantees with respect to loan facilities availed by the Company. Further, one of its Promoters and members of the Company's Promoter Group have extended personal properties as collateral for securing the facilities availed by the Company. Revocation of any or all of these personal guarantees or withdrawal of such properties may adversely affect its business operations and financial condition.
- Risks Relating to the Business: In addition to the Company's existing indebtedness for the Company's existing operations, the company may incur further indebtedness during the course of business. The company cannot assure that its would be able to service the company existing and/ or additional indebtedness.
- Risks Relating to the Business: The Company's inability to procure and/or maintain adequate insurance cover in connection with its business may adversely affect the Company's operations and profitability.
- Risks Relating to the Business: The Company's ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
- Risks Relating to the Business: The company has not independently verified certain data in this Draft Red Herring Prospectus.
- Risks Relating to the Business: The requirements of being a listed company may strain its resources.
- Risks Relating to the Business: The Equity Shares have never been publicly traded and the Issue may not result in an active or liquid market for the Equity Shares.
- Risks Relating to the Business: There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME platform of BSE in a timely manner or at all.
- Risks Relating to the Business: The price of the Equity Shares may be highly volatile after the Issue.
- Risks Relating to the Business: There are restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
- Risks Relating to the Business: Any future issuance of Equity Shares, or convertible securities or other equity-linked securities by the Company may dilute your shareholding and any sale of Equity Shares by our Promoters or members of the Company's Promoter Group may adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: Sale of Equity Shares by the Company's Promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- Risks Relating to the Business: The company is heavily dependent on a limited number of customers, and any loss of business, reduction in orders, or deterioration in commercial terms with these customers could materially and adversely affect its revenues, cash flows, profitability, and long-term growth prospects.
- Risks Relating to the Business: The Company has experienced delays in repayment of loans in the past, which may adversely affect its credit profile, access to future financing and investor confidence.
- Risks Relating to the Business: There have been instances of non-compliance in filling statutory forms which were required to be filed as per the reporting requirements with the Registrar of Companies under the Companies Act in the past which may attract penalties.
- Risks Relating to the Business: There have been instances of delays in filing of GST returns by the Company. In case of any delay in in filing of statutory returns in future by the Company, the Regulatory Authorities may impose monetary penalties on it or take certain punitive actions against the Company in relation to the same which may have adverse impact on its business, financial condition and results of operations.
- Risks Relating to the Business: The company's projects are subject to risks of delays, cost overruns, and cancellations arising from multiple external factors such as land acquisition hurdles, statutory approvals, labor unrest, and adverse weather conditions, which could adversely affect revenue recognition, profitability, customer confidence, and its reputation in the market.
- Risks Relating to the Business: A part of the Net Proceeds will be utilized for the repayment or prepayment of indebtedness availed of by the Company.
- Risks Relating to the Business: The company's revenue is closely tied to the performance of the infrastructure and construction sectors, which are cyclical in nature, and downturns in these sectors due to economic slowdowns, reduced government spending, or regulatory changes could lead to underutilization of assets, reduced margins, and adverse impact on its overall financial condition.
- Risks Relating to the Business: The company is heavily dependent on the continuous availability, maintenance, and optimal utilization of its fleet and equipment, and any prolonged downtime, breakdowns, accidents, or underutilization could significantly affect the company's operational performance, profitability, and reputation.
- Risks Relating to the Business: The company intends to utilise a portion of the Net Proceeds towards capital expenditure towards the purchase of new Ready-Mix Concrete (RMC) machinery and DG sets, and the company cannot assure you that its will be able to derive the benefits from the proposed object.
- Risks Relating to the Business: The company is yet to place orders for equipment proposed to be funded through this Issue. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment in a timely manner, or at all, it may result in time and cost over-runs and its business, results of operations, financial condition and cash flows may be adversely affected.
- Risks Relating to the Business: The company's business model is working capital intensive and requires substantial upfront financing for fleet, manpower, and consumables, and any delays in receivables or constraints in obtaining external funding could strain its liquidity and impact the company's ability to deliver projects on time.
- Risks Relating to the Business: The company's reliance on dealership and service agreements with OEMs exposes it to renewal, compliance, and termination risks, and any non-renewal or suspension of these agreements could deprive it of key revenue streams and market presence.
- Risks Relating to the Business: The company's telecom engineering business depends on contracts from OEMs, and any slowdown in network rollouts, budget constraints, or shift to in-house execution by OEMs may adversely affect order inflow and margins.
- Risks Relating to the Business: The Company has negative cash flows from investing and financing activities in the past years, details of which are given below. Sustained negative cash flow could impact its growth and business.
- Risks Relating to the Business: There have been instances of delays in filing statutory employee-related returns by the Company. In case of any delay or non-compliance in filing returns under Employee Provident Fund ("EPF"), Employees' State Insurance Corporation ("ESIC") or other employee-related statutory obligations in future, the concerned regulatory authorities may impose monetary penalties or take punitive actions against the Company, which may have an adverse impact on its business, financial condition, and results of operations.
- Risks Relating to the Business: The Company has defaulted on repayment obligations under a loan facility availed from Tata Capital Limited, and legal proceedings have been initiated in this regard.
- Risks Relating to the Business: Delays in the rollout of telecom networks, particularly 5G deployment, due to regulatory uncertainties or capital expenditure constraints of operators could defer projects and materially impact the company's growth.
- Risks Relating to the Business: A significant proportion of the company's operations and revenues are concentrated in North India, exposing it to regional economic, political, and regulatory risks that could disproportionately affect the company's performance.
- Risks Relating to the Business: The company's business is exposed to risks of accidents, safety incidents, and third-party liabilities, which could result in financial losses and reputational harm.
- Risks Relating to the Business: The company is subject to risks relating to compliance with employee benefit and social security legislations, and any adverse determination regarding applicability of such laws may result in additional liabilities.
- Risks Relating to the Business: The company operates in competitive markets across telecom, logistics, equipment rental, and dealerships, and rising competition from organized and unorganized players may reduce its margins and growth prospects.
- Risks Relating to the Business: Managing diverse business operations across multiple verticals increases operational complexity, and any inefficiency in resource allocation or management oversight could impair the company's profitability.
- Risks Relating to the Business: The company's operations are exposed to volatility in fuel prices, particularly diesel, and any inability to pass on increased costs to customers may reduce margins.
- Risks Relating to the Business: The company depends on timely availability of spare parts, and third-party services, and any disruption in supply chains could impact project execution and increase costs.
- Risks Relating to the Business: Any slowdown in economic growth, reduction in infrastructure spending, or adverse global developments could materially impact demand for the company's services.
- Risks Relating to the Business: If the company is not able to obtain, renew or maintain its statutory and regulatory licenses, registrations and approvals required to operates the company's business, it may have a material adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: Significant differences exist between IGAAP used to prepare the company's financial information and other accounting principles, such as U.S. GAAP and IFRS, which may affect investors' assessments of the Company's financial condition.
- Risks Relating to the Business: Reputation risks arising from project delays, equipment failures, or service deficiencies could adversely affect the company's ability to win new business.
- Risks Relating to the Business: The Company is dependent on a domestic market and its clients located in India for its sales and any downturn in it could reduce the company's sales.
- Risks Relating to the Business: Failures to manage the company's inventory could have an adverse effect on its net sales, profitability, cash flow and liquidity.
- Risks Relating to the Business: There can be no assurance that the objects of the Issue will be achieved within the time frame anticipated or at all, or that the deployment of the Net Proceeds in the manner intended by it will result in any increase in the value of your investment. Further, the plan for deployment of the Net Proceeds has not been appraised by any bank or financial institution.
- Risks Relating to the Business: The company's inability to effectively manage its growth or to successfully implement the company's business plan and growth strategy could adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company does not own certain premises used by the Company. Disruption of its rights as licensee/lessee or termination of the agreements with the company's licensors/lessors would adversely impact its operations and, consequently, the company's business.
- Risks Relating to the Business: The company is dependent on information technology systems in carrying out its business activities and it forms an integral part of the company's business. Further, if the company is unable to adapt to technological changes and successfully implement new technologies or if the company faces failures of its information technology systems, the company may not be able to compete effectively which may result in higher costs and would adversely affect its business and results of operations.
- Risks Relating to the Business: The company's lenders have charge over its movable and immovable properties in respect of finance availed by it.
- Risks Relating to the Business: The company may not be able to prevent others from unauthorized use of its intellectual property and may in the future become subject to patent, trademark and/or other intellectual property infringement claims.
- Risks Relating to the Business: The intellectual Property Rights used by the company is registered in the name of the company, but any infringement of third-party intellectual property rights or failures to protect its intellectual property rights may adversely affect the company's business.
- Risks Relating to the Business: The company is subject to strict performance requirements, including, but not limited to, quality and delivery, by its customers, and any failures by it to comply with these performance requirements may lead to reduction in the company's order value, recalls or liability claims.
- Risks Relating to the Business: There are outstanding legal proceedings involving the Company. Any adverse outcome in such proceedings may adversely affect its reputation, business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company's Promoter, Directors and Key Managerial Personnel have interests in the Company other than reimbursement of expenses incurred or normal remuneration or benefits.
- Risks Relating to the Business: The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further, the company has not identified any alternate source of financing the `Objects of the Issue'. Any shortfall in raising/meeting the same could adversely affect the company's growth plans, operations and financial performance.
- Risks Relating to the Business: The company's success largely depends upon the knowledge and experience of its Promoter, Directors, and the company's Key Managerial Personnel. Loss of any of its Directors and key managerial personnel or the company's ability to attract and retain them could adversely affect its business, operations and financial condition.
- Risks Relating to the Business: The company's Promoters and members of the Promoter Group have significant control over the Company and have the ability to direct its business and affairs; their interests may conflict with your interests as a shareholder.
- Risks Relating to the Business: The company has certain contingent liabilities and its financial condition and profitability may be adversely affected if any of these contingent liabilities materialize.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares held by the company's Promoters could be lower than the Issue Price.
- Risks Relating to the Business: The company's future fund requirements, in the form of further issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
- Risks Relating to the Business: The company's inability to procure and/or maintain adequate insurance cover in connection with its business may adversely affect the company's operations and profitability.
- Risks Relating to the Business: The company has in past entered into related party transactions and its may continue to do so in the future.
- Risks Relating to the Business: The company's Promoters and members of its Promoter Group have extended personal guarantees with respect to loan facilities availed by the Company. Further, one of its Promoters and members of the company's Promoter Group have extended personal properties as collateral for securing the facilities availed by the Company. Revocation of any or all of these personal guarantees or withdrawal of such properties may adversely affect its business operations and financial condition.
- Risks Relating to the Business: In addition to the company's existing indebtedness for its existing operations, the company may incur further indebtedness during the course of business. Its cannot assure that the company would be able to service its existing and/or additional indebtedness.
- Risks Relating to the Business: The company's ability to pay dividends in the future may be affected by any material adverse effect on its future earnings, financial condition or cash flows.
- Risks Relating to the Business: The requirements of being a listed company may strain the company's resources.
- Risks Relating to the Business: The Equity Shares have never been publicly traded and the Issue may not result in an active or liquid market for the Equity Shares.
- Risks Relating to the Business: There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME platform of BSE in a timely manner or at all.
- Risks Relating to the Business: The price of the Equity Shares may be highly volatile after the Issue.
- Risks Relating to the Business: There are restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
- Risks Relating to the Business: Any future issuance of Equity Shares, or convertible securities or other equity-linked securities by the Company may dilute your shareholding and any sale of Equity Shares by its Promoters or members of the company's Promoter Group may adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: Sale of Equity Shares by the company's Promoters or other significant shareholder(s) may adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
