Upcoming: Gabion Technologies India (SME)

Set to open on January 6, Gabion Technologies is bringing the "Green Infrastructure" theme to the market. This preview explores the company’s niche in civil engineering and why its small issue size could lead to massive oversubscription.

The first full week of 2026 will see the launch of the Gabion Technologies India IPO, scheduled to open for subscription from January 6 to January 8. This SME issue, with a price band of ₹76 to ₹81, is generating early buzz due to its niche business model: the manufacturing of "Gabion" baskets—wire mesh containers filled with stones used for erosion control and slope stabilization in highways and hill roads.

With a relatively small issue size of ₹29.16 crore, market analysts expect this IPO to be a candidate for massive oversubscription. The company’s products are critical for government-funded infrastructure projects, particularly in landslide-prone regions like the Himalayas and the Western Ghats. This "essential service" status has helped the company maintain a debt-to-equity ratio of less than 0.5, a rarity in the capital-intensive construction supplies sector.

Early indications from the grey market show a burgeoning interest, with a tentative GMP of ₹20, suggesting a potential 25% listing gain. Investors are attracted to the company's 40% revenue growth in the last fiscal year and its plans to use the IPO funds to set up a new automated manufacturing line in Gujarat. As the first infrastructure-linked SME of the year, Gabion Technologies is perfectly positioned to capture the "New Year optimism" in the primary market.