FX Multitech Ltd IPO

FX Multitech Limited, incorporated in March 2008, is engaged in the distribution and export of products used primarily in the HVAC and industrial refrigeration industries. Its product portfolio includes compressors, refrigeration and air-conditioning controls, industrial refrigeration controls, variable frequency drives, automation products, heat exchangers, evaporators, refrigerants, tools and specialised components. The company operates a distribution network from its headquarters in Ahmedabad, Gujarat, with warehouses in Hyderabad, Thane, Kolkata and Bangalore. It also exports products to international markets and maintains relationships with global suppliers. In January 2025, FX Multitech acquired a 51% stake in Everestt Chillers Private Limited, which manufactures customised industrial chillers and related cooling equipment.

FX Multitech Limited IPO Overview

FX Multitech Limited IPO is a bookbuilding issue comprising fresh shares and an offer for sale, with a total issue size of ₹45.24 crore. The IPO will open for subscription on 21 September 2026 and close on 23 September 2026. The allotment is expected to be finalised on 24 September 2026, followed by refunds and credit of shares to demat accounts on 25 September 2026. The company’s shares are proposed to be listed on the BSE SME platform on 28 September 2026. The price band is fixed at ₹110 to ₹116 per share, with a lot size of 1,200 shares. Retail investors must apply for a minimum of two lots, or 2,400 shares, requiring ₹2,78,400 at the upper price band. HNI investors must apply for at least three lots, or 3,600 shares. Oneview Corporate Advisors Pvt. Ltd. is the book running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar.

FX Multitech Limited IPO Details

Particulars	Details
IPO Date	21 to 23 September 2026
Listing Date	28 September 2026
Face Value	₹10 per share
Issue Price Band	₹110 to ₹116 per share
Lot Size	1,200 Shares
Total Issue Size	39,00,000 shares (aggregating up to ₹45 Crore)
Fresh Issue	33,55,200 shares (aggregating up to ₹39 Crore)
Offer for Sale	3,48,000 shares (aggregating up to ₹4 Crore)
Issue Type	Bookbuilding IPO
Listing At	BSE SME
Share Holding Pre Issue	1,08,07,600 shares
Share Holding Post Issue	1,43,59,600 shares
Market Maker Portion	1,96,800 shares

FX Multitech Limited IPO Reservation

Investor Category	Shares Offered
QIB	49.87% of the Net Issue
Retail	35.06% of the Net Issue
NII (HNI)	15.07% of the Net Issue

FX Multitech Limited IPO Lot Size

Application	Lots	Shares	Amount
Individual Investors (Min)	2	2,400	₹2,78,400
Individual Investors (Max)	2	2,400	₹2,78,400
S-HNI (Min)	3	3,600	₹4,17,600
S-HNI (Max)	7	8,400	₹9,74,400
B-HNI (Min)	8	9,600	₹11,13,600

FX Multitech Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	100.00%
Post-Issue	72.84%

FX Multitech Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹8.04
Price/Earnings (P/E) Ratio	14.43x
Return on Net Worth (RoNW)	31.80%
Net Asset Value (NAV)	₹35.22
Return on Equity	37.63%
Return on Capital Employed (ROCE)	28.93%
EBITDA Margin	15.35%
PAT Margin	9.60%
Price-to Book Value	3.29

Objectives of the Proceeds

1. Repayment or pre-payment of certain borrowings, helping reduce outstanding debt, with an estimated allocation of ₹10.00 crore.

2. Investment in Everestt Chillers Private Limited for purchasing machinery to support manufacturing capabilities, with ₹6.26 crore allocated.

3. Funding working capital requirements to support the company’s operational and business requirements, with an estimated allocation of ₹14.83 crore.

4. General corporate purposes, including other permitted business requirements, with the remaining issue proceeds allocated as applicable.

Key Financials (in ₹ crore)

Particulars	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	73.05	61.12	32.66
Revenue	111.90	102.34	68.74
Profit After Tax	11.54	9.64	4.18
Reserves and Surplus	27.08	15.54	16.45
Total Borrowings	18.42	17.32	11.24

IPO Strengths

1. Strong relationships with global suppliers.

2. Wide and established distribution network.

3. Efficient operations and supply chain management.

4. Diversified product portfolio across multiple industries.

5. Strong customer relationships supported by technical expertise.

Peer Group Comparison

As per the RHP, there are presently no listed companies in India that are engaged in a business directly comparable to FX Multitech Limited in terms of the nature of operations, product offerings and business model. Therefore, information relating to listed peer companies has not been provided.