New Delhi-based Gabion Technologies India, a manufacturer of steel wires and gabions, is set to make its stock market debut with an Initial Public Offering (IPO) opening on January 6. The company has fixed the price band for the issue at ₹76–81 per share.
Through the IPO, Gabion aims to raise ₹29.16 crore by issuing 36 lakh fresh equity shares at the upper end of the price band. The issue is entirely a fresh issue, with no offer-for-sale component.
The public issue will remain open for subscription until January 8, with the basis of allotment expected to be finalised on January 9. The company’s shares are scheduled to list on the BSE SME platform on January 13.
Market participants noted that Gabion’s IPO has been commanding a grey market premium (GMP) of over 30% consistently since its announcement, reflecting strong investor interest.
Founded in 2008 and promoted by Madhusudan Sarda, Gabion Technologies manufactures gabions, rockfall protection nettings, and geosynthetic materials. Its products are primarily used in civil engineering, infrastructure development, and environmental protection projects.
The company plans to utilise ₹22.1 crore from the IPO proceeds towards working capital requirements, ₹1.05 crore for the purchase of plant and machinery, with the balance earmarked for general corporate purposes.
On the financial front, Gabion reported a profit of ₹4.3 crore on revenue of ₹60.4 crore for the eight-month period ended November 2025. For FY25, the company’s profit rose nearly 15% to ₹6.6 crore, compared to ₹5.8 crore in the previous year, although revenue declined 4.2% to ₹100.4 crore from ₹104.8 crore.
Looking ahead, Gabion expects to generate around ₹120 crore in revenue in FY26, combining both services and supply of goods. As of October 2025, it had confirmed service work orders worth ₹84.62 crore.
The company stated that it had already earned ₹19.98 crore from service contracts up to September 2025 and expects an additional ₹45 crore in the remaining months, taking total service revenue to approximately ₹64.98 crore. Meanwhile, the supply of goods segment recorded ₹25.12 crore in revenue up to September 2025 and is projected to add ₹29.90 crore by March 2026, resulting in total supply revenue of about ₹55.02 crore.
GYR Capital Advisors is acting as the book-running lead manager for the Gabion Technologies IPO.
