Paluck Technologies sets ₹33 crore IPO on BSE SME at ₹46-48

Horizon Management is the book-running lead manager. Bigshare Services is the registrar.

Managing Director Navin Katiyar said what started as a narrow service business has become an integrated operation. "The next priority is to translate this experience into greater scale," he said. "The fresh investments are intended to improve ability to undertake larger opportunities and support the growing requirements of our customers."

Horizon Management's Narendra Bajaj called the business model differentiated because it pairs telecom engineering with asset-backed equipment and RMC rental. "Its established execution capabilities, relationships with leading OEMs and infrastructure customers, and operating presence across multiple geographies provide the company with a strong platform to participate in ongoing infrastructure development," he said.

Proceeds from the IPO should let Paluck strengthen its operating base and chase growth with more financial flexibility, he added.