Matrix Geo Solutions Limited, established in 2008 and headquartered in Delhi, is a leading geospatial and engineering consultancy firm. The company specializes in drone-based surveying, LiDAR, photogrammetry, GIS, and remote sensing for sectors like railways, roads, irrigation, mining, and power.
Key projects include India’s first bullet train (Ahmedabad-Mumbai), Pune-Mumbai Hyperloop, and drone-based pipeline monitoring. Major clients include Indian Railways, NHAI, NTPC, GAIL, L&T ECC, Adani Group, and Tata Projects. matrix-geo.com
Services Offered:
- Geospatial & GIS Services – Urban planning, disaster response, land-use management.
- LiDAR Mapping & 3D Modeling – Terrain modeling, high-resolution mapping, 3D visualization.
- Photogrammetry & Aerial Surveying – DTM/DEM, 3D compilation, orthophoto.
- Engineering & Infrastructure Support – Feasibility studies, project planning for highways, railways, and smart cities.
- Mining & Resource Management – Geological mapping, mineral exploration, environmental assessments.
- Water Resource & Environmental Studies – Flood risk analysis, watershed management.
- Software & Application Development – GIS-based applications with AI and Big Data integration.
As of July 31, 2025, the company had 100 permanent employees.
📊 IPO Details-Matrix Geo Solutions
| Feature | Details |
|---|---|
| IPO Type | Book Build Issue (Fresh Issue) |
| Total Shares | 38,65,200 shares (₹40.20 Cr) |
| Price Band | ₹98 – ₹104 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,200 shares |
| Minimum Retail Investment | ₹2,49,600 (2,400 shares) |
| HNI Minimum Investment | 3 lots (3,600 shares) = ₹3,74,400 |
| Issue Open | Sep 23, 2025 |
| Issue Close | Sep 25, 2025 |
| Allotment Date | Sep 26, 2025 |
| Refund Initiation | Sep 29, 2025 |
| Share Credit | Sep 29, 2025 |
| Tentative Listing | Sep 30, 2025 (NSE SME) |
| Book Running Lead Manager | Narnolia Financial Services Ltd. |
| Registrar | Maashitla Securities Pvt. Ltd. |
| Market Maker | Prabhat Financial Services Ltd. |
💹 Shareholding & Reservation-Matrix Geo Solutions
| Category | Shares Offered | % Allocation |
|---|---|---|
| Market Maker | 2,13,600 | 5.53% |
| QIB | 18,21,600 | 47.13% |
| QIB (Ex-Anchor) | 7,30,800 | 18.91% |
| NII (HNI) | 5,50,800 | 14.25% |
| Retail (RII) | 12,79,200 | 33.10% |
| Anchor Investors | 10,90,800 | 28.22% |
Anchor Investors: Raised ₹11.34 Cr on Sep 22, 2025. Lock-in: 50% for 30 days, remaining 50% for 90 days.
📈 Financials (Restated Consolidated)-Matrix Geo Solutions
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr) | 30.71 | 16.66 | 14.53 |
| Total Income | 22.19 | 13.77 | 8.91 |
| Profit After Tax (PAT) | 5.86 | 3.35 | 1.09 |
| EBITDA | 8.19 | 4.88 | 1.84 |
| Net Worth | 21.91 | 11.38 | 8.03 |
| Reserves & Surplus | 11.19 | 11.37 | 8.02 |
| Total Borrowing | 1.68 | 1.62 | 1.64 |
Key Performance Indicators (FY25):-Matrix Geo Solutions
- ROE: 35.21%
- ROCE: 33.69%
- Debt/Equity: 0.14
- PAT Margin: 26.52%
- EBITDA Margin: 37.08%
- Price to Book Value: 5.09
- Market Capitalization: ₹151.65 Cr
- Pre IPO EPS: ₹5.47, P/E: 19.02x
- Post IPO EPS: ₹4.02, P/E: 25.88x
🎯 IPO Objectives
| Object | Expected Amount (₹ Cr) |
|---|---|
| Purchase of New Drones | 6.47 |
| Survey Equipment & Technologies | 8.02 |
| Capital Expenditure | 2.72 |
| Working Capital Requirement | 15.50 |
| General Corporate Purposes | Remaining balance |
🧩 Promoter Holding
- Promoters: Rahul Jain, Amit Sharma, Meenal Jain, Harshada Kulkarni
- Pre-IPO: 91.52%
- Post-IPO: 67.26%
📝 Competitive Strengths
- End-to-end in-house technology solutions.
- Long-standing client relationships.
- Experienced management team.
📌 Summary
Matrix Geo Solutions IPO presents an opportunity for investors to participate in India’s growing geospatial and drone-based engineering sector. The company shows strong revenue and profit growth, backed by innovative services and marquee clients. While the IPO is priced aggressively, long-term investors with interest in tech-enabled infrastructure and GIS solutions may consider participation.