FX Multitech

FX Multitech SME IPO

Listed

BSE SMEOpens 21 September 2026Closes 23 September 2026

Incorporated in 2008, FX Multitech Limited is an Ahmedabad-based specialized distributor and exporter of engineering components primarily catering to the Heating, Ventilation, Air Conditioning, and Industrial…

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Live GMPSubscriptionAllotment
Price band
₹110 - ₹116
Issue size
₹45.24 Cr
Lot size
1,200 shares
Type
BSE SME
GMP
₹7 (+6.0%)
Est. listing
₹123
Est. profit / app
₹16,800
Retail quota
35.00%

Key ratios

As per RHP / filings
Face value
₹10
EPS
8.04
P/E ratio
14.43
RoNW
31.8%
ROE
37.63%
Debt / Equity
0.49
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Timeline

  1. IPO Opens

    21 Sept 2026

  2. IPO Closes

    23 Sept 2026

  3. Allotment

    24 Sept 2026

  4. Listing

    28 Sept 2026

IPO Timeline & Listing Details

EventDate
IPO Open Date21 September 2026
IPO Close Date23 September 2026
Allotment Date24 September 2026
Listing Date28 September 2026

Investment Categories

CategoryLotsAmount
Individual
2₹2,78,400
SHNI (Min)
3₹4,17,600
SHNI (Max)
7₹9,74,400
BHNIAbove ₹10,00,000
8₹11,13,600

IPO Reservation Details

CategoryReservation
QIB (Qualified Institutional Buyer)50.00%
NII (Non-Institutional Investor)15.00%
SHNI (Small Non-Institutional Investor)5.00%
BHNI (Big Non-Institutional Investor)10.00%
Retail35.00%
Total100.00%

IPO Objectives

  • Repayment/pre-payment, in full or part, of certain borrowings availed by the Company (₹10.00 Cr).
  • Investment in the subsidiary namely Everestt Chillers Private Limited for purchase of machineries (₹6.26 Cr).
  • Funding of Working Capital Requirements (₹14.83 Cr).
  • General Corporate Purposes.

Strengths

  • Authorized distributor partnerships with globally reputed HVAC&R component manufacturers including Danfoss, Transfer Oil, Refco, and Testo.
  • Diversified multi-industry client base across industrial refrigeration, food & beverage, dairy, cold storage, and chemical manufacturing sectors.
  • Forward integration strategy via 51% acquisition of Everestt Chillers Private Limited, adding customized industrial chiller manufacturing capabilities.
  • Consistent operational profitability with FY26 return metrics showing RoNW of 31.80% and RoCE of 28.93%.

Weaknesses

  • Extreme supplier concentration, with a single principal supplier accounting for 74.11% of total purchases in FY26 (top 5 suppliers contributing 81.08%).
  • Absence of long-term customer purchase contracts; operations are run on an order-by-order basis with 180-day credit windows.
  • Working capital intensity with significant inventory holding requirements (₹38.26 Cr in FY26) to manage equipment supply lead times.
  • Negative cash flows from operating activities in FY25 and FY26 due to capital absorption in trade receivables and inventory expansion.
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Financial Performance

Period Ended31 Mar 202631 Mar 202531 Mar 2024
Assets (₹ Cr.)73.0561.1232.66
Revenue (₹ Cr.)111.9102.3468.74
PAT (₹ Cr.)11.549.644.18
Net Worth (₹ Cr.)37.8926.3516.71

Peer Comparison

CompanyP/B RatioP/E RatioRONW (%)Net Worth (₹ Cr.)
FX Multitech3.2914.4331.8%37.89

Subscription Details

Daily Bids Status

CategoryDay 1Day 2Day 3
QIB0x0.01x20.95x
NII1.19x1.29x25.98x
S-HNI0.12x0.35x18.21x
B-HNI1.74x1.77x29.94x
RII0.07x0.2x12.31x
Total0.29x0.38x17.72x

Overall Subscription Statistics

CategoryShares OfferedShares BidBid Amount (₹ Cr)
QIB7,44,0001,55,90,400180.85
NII5,58,0001,44,98,400168.18
Small NII1,86,00033,86,40039.28
Big NII3,71,2001,11,12,000128.9
RII12,98,4001,59,84,000185.41
Total26,00,4004,60,72,800534.44
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Company Details

  • FX Multitech Limited
  • C-907, 908 Titanium Square, Thaltej Cross Road, Thaltej, Ahmedabad, Gujarat, India – 380054
  • +91 79 4892 5548
  • compliance@fxmultitech.com
  • https://www.fxmultitech.com

Registrar Details

Frequently Asked Questions

What is the primary business of FX Multitech Limited?
FX Multitech Limited is a distribution and engineering solutions provider specializing in HVAC and industrial refrigeration equipment, components, variable frequency drives, automation systems, and industrial chillers.
What are the bidding dates for the FX Multitech SME IPO?
The issue opens for subscription on Monday, September 21, 2026, and closes on Wednesday, September 23, 2026 (Anchor bidding took place on Friday, September 18, 2026).
What is the price band and minimum retail investment required?
The price band is fixed at ₹110.00 to ₹116.00 per share. Retail investors must bid for a minimum of 2 lots (2,400 shares), requiring an outlay of ₹2,78,400 at the upper price band of ₹116.
What is the total issue size and structure of the FX Multitech IPO?
The issue comprises 39,00,000 equity shares aggregating to ₹45.24 Crore, consisting of a Fresh Issue of 35,52,000 shares (₹41.20 Cr) and an Offer for Sale (OFS) of 3,48,000 shares (₹4.04 Cr) by the promoter selling shareholders.
When and where are the equity shares of FX Multitech scheduled to list?
The shares are scheduled to list on the SME Platform of BSE Limited (BSE SME) on Monday, September 28, 2026.

FX Multitech SME IPO News & Updates

Follow the latest updates for FX Multitech SME IPO, including grey market moves and allotment news.

FX Multitech SME IPO IPO Pages

Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.

FX Multitech SME IPO Details

Issue size, price, financials, and company info

FX Multitech SME IPO GMP

Live grey market premium and listing estimate

FX Multitech SME IPO Subscription

QIB, NII, Retail, SHNI and BHNI subscription

FX Multitech SME IPO Allotment

Allotment date, chances, and check by PAN

FX Multitech SME IPO Review

SWOT, strengths, risks, and IPO review

FX Multitech SME IPO FAQ

Common questions on dates, GMP, and allotment

FX Multitech SME IPO Registrar

Registrar website and how to check allotment

FX Multitech SME IPO Timeline

Open, close, allotment, and listing dates

FX Multitech SME IPO News

Updates, blogs, and latest IPO news

Sources

We match FX Multitech SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

  • SEBIRules for IPO allotment and disclosures in India
  • NSEExchange notices, bidding data, and listing updates
  • BSEExchange notices and IPO allotment check tools
  • RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
  • MUFG Intime India Private LimitedOfficial site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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