Gabion Technologies India
IPOIssue Details
Issue Size
– Cr
Fresh Issue
– Cr
OFS
– Cr
Price Band
₹76 – ₹81
Lot Size
1600
₹1,29,600
Face Value
₹10
Listing Price
₹89
Important Dates
Open Date
06 Jan 2026
Close Date
08 Jan 2026
Allotment
09 Jan 2026
Refund
12 Jan 2026
Listing
13 Jan 2026
About Company
Incorporated in February 2008, Gabion Technologies India Limited manufactures steel gabions and provides geosynthetics, geotechnical engineering, and ground improvement services globally.
The company manufactures Double Twisted Hexagonal Steel Wire Mesh Gabions, Defence Gabions, PP Rope Gabions, Hi-tensile Rockfall Protection Nettings, Reinforced Geomat, and High Strength Flexible Geogrid.
Gabion Technologies supplies products and services for government entities, contractors, private customers, consultants, and authorities in geosynthetics, geotechnical engineering, and ground improvement techniques.
The company serves sectors including infrastructure, retaining walls, slopes, rockfall protection, irrigation, mining, airports, defence, energy, roads, railways, and water resources.
Gabion Technologies has completed 76 projects with a total contract value of ₹12,760.59 lakhs across roads, railways, private commercial, energy, mining, airports, defence, and water resources.
As of November 30, 2025, the company had 159 full-time employees and also engages contractual workers based on site requirements.
Objects of the Issue
| # | Description | Amount (₹ Cr) |
|---|---|---|
| 1 | Working capital requirements. | ₹22.11 |
| 2 | Meeting capex requirements for purchasing plant and machinery. | ₹1.06 |
| 3 | General corporate purposes. | ₹3 |
Financial Performance
Share Reservations
QIB
17,05,600
Anchor
10,22,400
NII
5,13,600
Retail
12,00,000
Employee
0
Total
36,00,000
RHP Insights
AI-powered analysis from Red Herring Prospectus
Significant Debt-to-Equity Exposure
As of March 31, 2025, the company reported a total debt of ₹4,671.07 lakhs, resulting in a high debt-equity ratio of 2.12. This indicates a heavy reliance on debt financing, which increases fixed financial commitments and potential liquidity risks.
Impact: LowStrategic Conversion for Market Access
Originally incorporated as a private limited company in 2008, the company successfully converted into a public limited entity in December 2024. This move was specifically intended to facilitate its listing on the SME Platform of BSE.
Impact: HighFavorable Market Tailwinds in Infrastructure
The company is poised to benefit from the Indian government's 3.3% GDP allocation to infrastructure in FY2024. The target to construct a 2 lakh-km national highway network by 2025 directly drives demand for the company's gabion and soil stabilization products.
Impact: HighMarket Leadership in Retaining Walls
Gabion Technologies operates in a robust sector where retaining walls held a 41.1% market share in 2023. This segment is projected to grow at a CAGR of 6.10% through 2030, providing a stable long-term revenue vertical.
Impact: HighHigh Reliance on Short-Term Supplier Orders
The company does not have long-term agreements with its suppliers and relies on individual purchase orders. This lack of formal long-term contracts exposes the business to potential supply chain disruptions and price volatility.
Impact: LowSWOT Analysis
AI-generated strategic view
Strengths
- •In-house experienced design and execution team for specialized geotechnical and geosynthetics projects.
- •Integrated manufacturer and contractor model enabling high-quality products for specialized contracts.
- •Wide customer base across government, infrastructure, and private sector projects.
- •Competitive pricing with focus on quality products and timely delivery.
- •Adoption of new products and technologies in geosynthetics and ground improvement.
- •Adequate inventory management supporting on-time execution of projects.
Weaknesses
- •Operates in a highly competitive and fragmented geosynthetics and construction solutions segment.
- •Topline shows inconsistency across reported financial periods.
- •Business dependent on infrastructure and government project cycles.
Opportunities
- •Growing infrastructure development and road, rail, and irrigation projects in India.
- •Increasing adoption of geosynthetics and engineered solutions in civil construction.
- •Scope to expand into new geographies and higher value complex engineering projects.
- •Opportunity to leverage in-house design capabilities for turnkey EPC-style contracts.
Threats
- •Competition from domestic and international geosynthetics and engineering solution providers.
- •Cyclicality in infrastructure spending and delays in government project awarding.
- •Raw material price volatility impacting margins, especially steel and polymers.
- •Execution risks in large, complex ground improvement and protection projects.
Gabion Technologies India IPO Peer Comparison
The table below shows peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Gabion Technologies India Ltd. | 6.64 | 6.64 | 22.08 | 30.05 | 0 | Consolidated |
| SRM Contractors Ltd. | 23.97 | 23.97 | 120.09 | 22.4 | 19.96 | Consolidated |
Gabion Technologies India - Documents & Links
Registrar
Company contact
Gabion Technologies India Ltd
Address: 38, SF, Near MCD Park, Mohammadpur, New Delhi, New Delhi, 110066
compliance@gabionindia.comhttps://gabionindia.com/Lead managers
Frequently Asked Questions
Common questions about Gabion Technologies India IPO.