One of the hottest SME IPOs of July 2026 is quietly flying under the radar — Poojaa Precision Engineering, a Pune-based aluminium die-casting company with a scorching GMP of +₹195 (+65%). With Mukul Agrawal (one of India's most watched retail investors) picking up a 1.37% pre-IPO stake, and 100% fresh issue capital going into business expansion, this SME IPO has the ingredients of a strong listing. Here is the complete picture.
Poojaa Precision IPO — Key Details at a Glance
- IPO Open Date: July 28, 2026
- IPO Close Date: July 30, 2026
- Allotment Date: July 31, 2026
- Listing Date: August 4, 2026 (BSE SME)
- Price Band: ₹285–₹301 per share
- Issue Size: ₹159.83 Cr (100% Fresh Issue — no OFS)
- Lot Size: 400 shares | Min Investment: ₹1,20,400
- GMP Today: +₹195 (+64.78%) | Est. Listing: ~₹496
- Lead Manager: Hem Securities Ltd
- Registrar: MUFG Intime India Pvt. Ltd.
About Poojaa Precision Engineering
Founded in 1992 and headquartered in Chakan, Pune, Poojaa Precision Engineering is a precision aluminium die-casting and machining company. The company manufactures high-precision components for the automotive, electric vehicle (EV), and industrial sectors, exporting to clients in Germany, the United States, Italy, and Switzerland.
The company operates two manufacturing facilities in Chakan, Pune — one of India's most active automotive manufacturing hubs — with an annual melting capacity of 13,800 MT and casting and finishing capacity of approximately 6,000 MT. This gives Poojaa Precision a strong operational base with significant room to scale capacity using fresh IPO proceeds.
What makes this IPO particularly interesting is the strategic pivot underway: while automotive ICE (internal combustion engine) clients still form the core revenue base (72% of FY25 revenue), management has been deliberately scaling its EV and non-automotive verticals. The company has also recently entered the aerospace sector through approved vendor partnerships — a high-margin, high-entry-barrier market that could be a significant long-term growth driver.
The Mukul Agrawal Factor
Before the IPO opened, noted retail investor Mukul Agrawal picked up a 1.37% stake in Poojaa Precision Engineering through a pre-IPO secondary transaction. This is not a trivial signal. Mukul Agrawal is among the most closely tracked retail investors on Dalal Street, known for identifying quality SME and smallcap companies before they go mainstream. His pre-IPO entry at a price below the issue band is a strong vote of confidence in the company's fundamentals and growth trajectory.
Retail investors following Mukul Agrawal's portfolio should note: this is a public, disclosed stake — not insider information. It simply signals that a sophisticated, well-researched investor saw enough value here to invest before the IPO.
Financials — Consistent Growth Story
- Revenue FY2025: ₹222.80 Cr
- Revenue FY2026: ₹295.20 Cr — growth of +32% YoY
- Net Profit FY2025: ₹23.93 Cr
- Net Profit FY2026: ₹30.90 Cr — growth of +29% YoY
For a manufacturing SME, 32% revenue growth and 29% profit growth in a single year is strong and consistent. This is not a one-year spike — the trajectory shows a company gaining operating leverage as its capacity utilisation improves and its customer mix shifts toward higher-margin EV and export segments.
The PAT margin is approximately 10.5% in FY26 — respectable for an aluminium die-casting business, where raw material costs (aluminium ingots) are a significant input. The company's ability to maintain and improve margins while growing revenue indicates pricing power with customers and operational discipline.
100% Fresh Issue — Capital Goes Into Growth
The entire ₹159.83 Cr raised in this IPO is a fresh issue — there is zero OFS component. This means no promoter or investor is selling shares at the IPO. Every rupee raised goes directly into the business. For context, this is the opposite of an OFS-heavy IPO like SBI MF (100% OFS) where retail investors are essentially buying from exiting shareholders.
Typical use of fresh issue proceeds in precision engineering SME IPOs includes: capacity expansion (new presses, furnaces), working capital funding for larger order execution, technology upgrades (CNC machining centres), and debt repayment. All of these directly improve future revenue capacity and profitability.
GMP — Grey Market Is Extremely Bullish
As of July 24, 2026, Poojaa Precision IPO GMP stands at +₹195, implying an estimated listing price of approximately ₹496 — a gain of 64.78% over the upper price band of ₹301. This is one of the highest GMP readings among all IPOs currently open or upcoming.
A GMP of +65% for an SME IPO is very significant. SME IPOs with strong GMP readings in this range often see actual listing gains of 40–80%, depending on overall market conditions and final subscription numbers. However, remember that SME IPO allotment is typically very competitive — oversubscription of 100x–300x is common for hot SME issues, making retail allotment probability low.
Strategy for retail investors: apply for exactly 1 lot (400 shares, ₹1,20,400) — applying for more lots does not increase your allotment chances in the retail category.
EV & Aerospace — The Long-Term Growth Story
Electric Vehicle Pivot
India's EV transition is accelerating — two-wheeler EV penetration crossed 10% in 2025 and four-wheeler EV sales are growing. Aluminium die-casting is a critical component in EV drivetrains, battery housings, motor casings, and structural parts. As ICE vehicles give way to EVs, precision aluminium component manufacturers who adapt early will gain disproportionately. Poojaa Precision's deliberate scaling of its EV vertical positions it directly in this structural shift.
Aerospace Entry
The company's recent approval as a vendor for aerospace components marks a significant strategic milestone. Aerospace is a high-barrier sector — qualifications take years, but once approved, contracts are long-term, high-value, and sticky. Margins in aerospace components are substantially higher than automotive, which could meaningfully improve Poojaa Precision's profitability mix over the next 3–5 years.
Strengths
- 100% Fresh Issue — all capital deployed into business growth
- Strong GMP of +65% — highest among current SME IPOs
- Mukul Agrawal pre-IPO stake — strong institutional vote of confidence
- Revenue +32% and PAT +29% in FY26 — consistent, healthy growth
- Strategic pivot to EV and aerospace — future-proofed business model
- Export revenues from Germany, US, Italy, Switzerland — not dependent on domestic market alone
- Chakan, Pune location — heart of India's auto manufacturing ecosystem
- Founded in 1992 — 30+ years of manufacturing expertise and customer relationships
Risks
- SME IPO — lower liquidity on BSE SME compared to mainboard; harder to exit large positions
- Automotive dependence — 72% of revenue still from ICE automotive; EV transition could disrupt some clients
- Aluminium price risk — raw material prices are volatile and impact margins directly
- Small company size — ₹295 Cr revenue means any large client loss or order cancellation has outsized impact
- High min investment — ₹1,20,400 per lot is steep for retail investors, limiting participation
- GMP-driven hype risk — if broader markets correct between now and August 4, listing gains could be lower than GMP suggests
Should You Apply for Poojaa Precision IPO? Our Verdict
Verdict: APPLY — strong listing gain potential, high-quality fundamentals for an SME.
Poojaa Precision checks multiple boxes that make it a compelling SME IPO:
- GMP at +65% is exceptional — grey market is pricing in a very strong listing
- 100% fresh issue — no promoter exit, all capital into growth
- Mukul Agrawal pre-IPO stake — one of India's sharpest retail investors backed this
- EV and aerospace expansion provides long-term upside beyond the listing trade
- Consistent 30%+ revenue and profit growth
For listing-day traders: if you get allotment (given likely high oversubscription, probability is low per lot), the GMP suggests strong gains of 40–65% at listing.
For long-term investors: Poojaa Precision's pivot toward EV components and aerospace, combined with a clean balance sheet (100% fresh issue), makes this a compelling hold for 12–24 months post-listing.
Apply at cut-off price (₹301). Given the minimum lot size of 400 shares requiring ₹1,20,400, ensure you have UPI mandate approved within 30 minutes of application.
How to Apply
- Open: July 28, 2026 | Close: July 30, 2026
- Apply via broker app: Zerodha, Groww, Angel One, Upstox, HDFC Sky
- Apply at cut-off price (₹301 per share)
- Lot size: 400 shares | Min investment: ₹1,20,400
- Approve UPI mandate within 30 minutes of application
- Allotment: July 31 | Listing: August 4, 2026 on BSE SME
Disclaimer
Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice. IPOLyst is not a SEBI-registered investment advisor. All GMP data is sourced from grey market operators and is indicative only — it does not guarantee listing performance. All financial data is based on publicly available sources as of July 24, 2026. Please consult a qualified financial advisor before making any investment decisions.
Related Reading
Wondering what the GMP means for the Poojaa Precision IPO? Read our complete GMP guide to understand how to interpret grey market premium data.
New to IPO investing? Our step-by-step IPO application guide walks you through the entire UPI ASBA process.
Track live GMP, subscription, and allotment data for the Poojaa Precision IPO on the IPOLyst homepage.