India's geosynthetics and gabion market will enter a high-growth phase by 2030, driven by significant infrastructure spending under programs like Bharatmala and Smart Cities, as well as growing demand for geotechnical solutions, retaining walls, slope stabilisation, and sustainable erosion control amid expanding mining, road, rail, hydraulic, and environmental projects. Specialised manufacturers with a wide range of products, robust production capabilities, and well-established government-private client networks are well-positioned to gain a substantial share in this fragmented market, which is expected to grow at a 9–11% CAGR from a base exceeding ₹12,000 crore.
Gabion Technologies India Private Limited, a New Delhi-based company founded in 2008 with production in Himachal Pradesh, produces gabions, geogrids, geotextiles, and geomembranes. Its FY25 revenue was ₹100.36 crore, and its PAT was ₹6.61 crore. With a ₹170 crore order book to support it, its ₹29.16 crore BSE SME IPO (₹76–81/share) opens on January 6, 2026, with a focus on working capital and capital expenditures to capitalise on the infra cycle.
Gabion Technologies IPO Details:
Gabion Technologies Issue Management:
GYR Capital Advisors Pvt. Ltd. acts as the book-running lead manager for Gabion Technologies SME IPO, handling underwriting, regulatory compliance, and investor coordination.
Gabion Technologies IPO RTA (Registrar) Details:
KFintech handles allotment, refunds, and demat credits—contact at +91-04067162222, 04079611000 or gabion.ipo@kfintech.com.
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As an all-inclusive geosynthetics manufacturing company, the focus areas of Gabion Technologies India Ltd. lie in the fabrication of gabions, revet mattresses, geogrids, geotextiles, geomembranes, geobags, rock netting for riverbank protection. With their headquarters in the capital city of New Delhi and an operational unit based in Paonta Sahib, Himachal Pradesh, the company caters to the demand for geosynthetics in the construction of roads, railways, mines, and hydrology applications in more than 15 states.
Gabion Technologies recorded a revenue of ₹100.36 Cr for FY25, growing on the backing of a solid order book of ₹170 Cr (1.7x of the annual revenue), which derives strength from infra sector orders, coupled with the company's enhanced capacity to produce 5,000 tons of PVC-coated wires every year. The company is poised to tap the burgeoning market of over ₹12,000+ Cr for geosynthetics, backed by ISO certifications, R&D, and ties with steel manufacturers.
Gabion Technologies India Ltd IPO comprises a fresh issue of ₹29.16 Cr (36 lakh shares) aimed at working capital requirements (₹22.11 Cr), capex for plant and machinery (₹1.06 Cr), and general corporate purposes.
Gabion Technologies IPO proceeds will be deployed towards the following objectives:
Gabion Technologies India Ltd SME IPO reserves shares across key investor categories, with retail at 33.33%, NII (HNI) at 14.27%, QIB at 47.38% (including 28.40% for anchors), and market makers at 5.02%.
Gabion Technologies India Ltd IPO reserves 10,22,400 shares (28.40% of the 36,00,000-share issue) for anchor investors, with anchor bidding on January 3, 2026, one working day before the IPO opens on January 6, 2026.
Lock-in: 50% of anchor shares for 30 days (until February 5, 2026) and the remaining 50% for 90 days (until April 6, 2026), as per SEBI’s anchor guidelines.
The anchor allocation document filed right before the issue opens will list the names of specific anchor investors.
Gabion Technologies India Ltd delivers healthy profitability, with a return on equity (ROE) of around 25–27%, an EBITDA margin of about 14–16%, and a PAT margin of roughly 6–8% for FY25 as per available financial disclosures.
At the upper price band of ₹81, valuation on a pre-issue basis works out to roughly 12–14x FY25.
The important risks and strengths of Gabion Technologies IPO are mentioned below:
Strengths
Experienced Promoters and Team: The Promoter family has more than a decade of domain experience within the geosynthetics and infrastructure industry, providing Gabion Technologies with expertise in ground conditions, design, and execution realities.
Diversified geosynthetics product range: They provide one-stop shopping services for gabions, mattresses for revetted slopes, rockfall netting, geogrids, geotextiles, and geomembranes so that the company can carry out operations related to roads, rail lines, river training schemes, and mines.
Project-based and solution-oriented approach: Capacity to customize designs, offer technical assistance, and undertake turnkey installation solutions helps Gabion to better fit into EPC contractors’ and government bodies’ desire to deal with solution-providers rather than mere product providers.
Manufacturing and Quality Orientation: The in-house manufacturing capability based on PVC-coated wires and geosynthetics helps in maintaining good quality products that are essential in applications such as slope protection and retaining structures wherein quality is rather critical.
Order book and margins are healthy: The presence of a multi-state order book, which generates annual revenue more than the company itself, gives short-term visibility, and mid-teens EBITDA margins and positive ROE help the business remain profitable given the tender-based nature of the infra business
Risks
Project and client concentration: The revenues are highly dependent on projects related to infrastructure and specific government/EPC clients; delay in few large projects may affect cash flows.
Working capital intensity: Tender terms, retention sums, and cash flow in projects involving the government can increase the working capital intensity, especially during peak execution periods.
Volatility in raw material prices: Steel wire and polymer prices have a direct influence on cost; in case the price hike cannot be passed on because of fixed price contracts, there could be pressure on margin.
Competitive tendering environment: The company faces a fragmented market environment with other regional and national geosynthetics and civil products players, thereby exerting pressure in tendering due to competition.
Execution & quality risks: Inadequate design, installation, or performance of high-profile infrastructure (roads, slopes, riverbanks) might generate claims, rework, or negative impacts, which would influence future project success.
Based on the DRHP and IPO filings, Gabion Technologies India Ltd. appears to be a profitable and growth-oriented company with revenue of about ₹100 Cr and profit after tax of approximately ₹6.6 Cr in FY25, with return on equity in the mid-20s, EBITDA margins in the mid-teens, andPAT margins in the high single digit range in the infrastructure-related geosynthetics segment. It appears to be a well-efficient SME with operations in a market dominated by tenders and project implementations.
With this IPO, investors will get exposure to the growing geosynthetics & gabion market of India, which supports roads, railway, river training, hill protection, mining, & erosion control initiatives, as part of the country’s infrastructure capital expenditures drive. The highest price band of ₹81, therefore, indicates a PE ratio of low teens for FY25, which seems reasonable compared to more diversified infra companies at present, having considered Gabion’s SME size, order book, & cyclic nature of its business.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis only contains informative purposes and not investment advice.
Action Links:
To apply for Gabion Technologies IPO, open a demat account here
Gabion Technologies IPO Subscription Status: Check live subscription here
Gabion Technologies IPO GMP Update: Check current grey market premium here
1. What is the Gabion Technologies India IPO date, price band, and lot size?
Gabion Technologies India Ltd BSE SME IPO opens on January 6, 2026 and closes on January 8, 2026. The price band is ₹76–₹81 per share, with a lot size of 1,600 shares (₹1.21–1.30 lakh per lot at the upper band).
Track Gabion Technologies IPO subscription status live here.
2. How many shares are offered and what is the total issue size?
The IPO is a 100% fresh issue of 36,00,000 equity shares. At the upper band of ₹81, the total issue size is approximately ₹29.16 crore.
Track Gabion Technologies IPO GMP here on Finnpick to gauge investor demand before submitting your bid.
3. What does Gabion Technologies India Ltd do and which sector is it in?
Gabion Technologies is a geosynthetics and infrastructure protection solutions company manufacturing gabion boxes, revet mattresses, rockfall netting, geogrids, geotextiles, geobags, and geomembranes. It operates in the infrastructure and construction materials segment, catering to roads, railways, river training, mining, and erosion‑control projects.
4. How to apply for the Gabion Technologies IPO?
To apply for the Gabion Technologies IPO, open demat here (Zerodha/Upstox/AngelOne) or ASBA by Jan 08th, 5 PM. Bids must be placed in multiples of 1 lot (1,600 shares). Monitor Gabion Technologies IPO subscription tracker here.
5. What is the GMP (Grey Market Premium) of Gabion Technologies India IPO?
GMP for Gabion Technologies fluctuates closer to the issue period and around listing, reflecting informal demand. Investors should track live GMP here rather than rely on static figures, and remember that GMP is unofficial and can be volatile.
6. Who is the lead manager and registrar for the Gabion Technologies IPO?
GYR Capital Advisors Pvt Ltd is the book‑running lead manager to the issue. Kfin Technologies Ltd acts as the registrar, handling allotment, refunds, and credit of shares.
7. What is the valuation of Gabion Technologies IPO (P/E, etc.)?
At ₹81, Gabion is valued at a low‑teens P/E on FY25 diluted EPS and a modest market‑cap‑to‑sales ratio relative to larger infra peers. This reflects its SME size and project dependence but does not fully factor upside if order execution and margins sustain.
8. Who are the promoters and what is their post‑IPO shareholding?
The promoters are members of the Sarda family, including Madhusudan Sarda and related entities. Their collective shareholding is around three‑quarters pre‑IPO and is expected to reduce to roughly mid‑50s percent post‑issue, maintaining majority control while bringing in public shareholders.
