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₹75 - 75 Amounts at the upper price band.
Amtech Esters Ltd
ChemicalsIPOSME
₹75 - 75
The Company is engaged in the B2B business of manufacturing of Unsaturated Polyester Resins (referred as "UPR" or "UPRs") and trading in their complementary products like fiber resin, hardners & silicons and other ancillary products. By offering these complementary products along with our manufactured UPRs, we are able to provide customers with an integrated sourcing solution rather than a single-product offering. It also enables us to serve customers across different stages of the resin and FRP value chain, from base resin requirements to curing, reinforcement, finishing and applicationspecific consumables.
Lot1,600Min Invest₹2,40,000Face Value₹10Issue Size₹18 CrFresh Issue₹18 CrListing Price₹100CMP₹88
Timeline
9 Sept
Bidding opens
11 Sept
Bidding closes
15 Sept
Allotment
15-16 Sept
Refund & demat credit
17 Sept
Listing
Subscription · As of 8:00 PM, 11 Sept
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt ₹ CrQIB15.1x11.30 L1.70 Cr127.65NII24.2x3.41 L82.36 L61.77Retail28.9x7.94 L2.30 Cr172.18Total24.0x23.84 L5.71 Cr428.58
Reports
Offer Details
Terms
Issue Size₹18 Cr0.24 Cr shares
Fresh Issue₹18 Cr
Face Value₹10
Lot Size1,600 shares
ReservationQIB 49.89% · NII 15.05% · RETAIL 35.06%
Application Sizes
Retail₹2,40,0001-1 lots
sNII₹2,40,000from 2 lots
bNII₹10,80,000from 9 lots
Managers & Registrar
Lead ManagerCredora Partners Private Limited
RegistrarMaashitla Securities Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group62.34%45.52%Public37.66%54.48%
Objects of the Issue
- Investment in the company subsidiary, namely Croda Pigments Private Limited, by way of debt:
- Repayment or prepayment, in full or in part, of certain borrowings availed by its Company;
- General corporate purposes
Anchor Book
Bid Date08-Sep-2026Bid Price₹75Shares6,76,800Amount₹5 Cr30-day lock-in14-Oct-202690-day lock-in13-Dec-2026
Financials
Profit & Loss
| Financial Year | FY24 | FY25 | FY26 |
|---|---|---|---|
| RevenueCr | 25 | 37 | 41 |
| Operating ProfitCr | 2 | 7 | 7 |
| OPM% | 6.7 | 17.6 | 18.4 |
| PBTCr | 3 | 5 | 6 |
| PATCr | 3 | 4 | 4 |
| EPS | 4 | 6 | 7 |
Balance Sheet
| Financial Year | FY24 | FY25 | FY26 |
|---|---|---|---|
| Equity CapitalCr | 3 | 3 | 6 |
| ReservesCr | 8 | 12 | 13 |
| BorrowingsCr | 4 | 4 | 3 |
| Total AssetsCr | 25 | 28 | 34 |
Cash Flow
| Financial Year | FY24 | FY25 | FY26 |
|---|---|---|---|
| Operating Cash FlowCr | 2 | 3 | 4 |
| Investing Cash FlowCr | -2 | -3 | -4 |
| Financing Cash FlowCr | 3 | -1 | -1 |
| Net Cash FlowCr | 4 | -1 | -1 |
Strengths & Risks
Strengths · as stated in the DRHP
- Diversified Product Portfolio Catering to a Broad Customer Base.
- Strong Quality Assurance ensuring consistent and standardized product excellence.
- Experienced Promoter and Senior Management Supported by a Knowledgeable Sales Team.
- Synergetic collaboration with subsidiary.
- Good track record.
- Cordial relations with our clients.
Strategies · as stated in the DRHP
- Forward Integration with subsidiary to achieve operational efficiency.
- Inorganic and Organic Expansion.
- Expansion of Geographical Footprint in India across various industries.
Risks · as stated in the DRHP
- A significant portion of the company's revenue is derived from unsaturated polyester resins. Such significant dependence on a single product category exposes it to concentration risk, whereby any adverse change in demand, pricing pressure, supply of raw materials etc. could have an adverse effect on the company's business, financial condition, and results of operations.
- Majority of the company's revenue from operations is derived from its manufacturing vertical. Further all of the company's manufacturing facilities are situated at Haryana, which exposes it to operational risks in relation to the company's manufacturing process. Any disruption, slowdown, or shutdown in its manufacturing operations, could adversely affect the company's business, results of operations, financial condition and cash flows.
- The company's business is manpower intensive, and any significant increase in employee attrition could adversely affect its business, financial condition, results of operations and cash flows.
- The company's business is manpower intensive. It may be adversely affected by work stoppages, increased wage demands by its employees, or an increase in minimum wages, and if the company is unable to engage new employees at commercially attractive terms, it could adversely affect the company's business, financial condition, cash flows and results of operations.
- There have been certain instances of non-compliances/ discrepancies, including with respect to certain secretarial/ regulatory filings for corporate actions taken by the Company in the past. Such non-compliance may attract penalties against the Company which could impact the financial position of it to that extent.
- The Company had negative cash flow from investing and financing activities in the past and may continue to have negative cash flows in the future.