Bookbuilding IPO | ₹[.] Cr | Listing at BSE SME |
Amtech Esters Ltd. has refiled a Draft Red Herring Prospectus (DRHP) with the exchange on May 30, 2026 to raise funds through Initial Public Offer (IPO).
The initial submission on January 13, 2025 was withdrawn by the company on May 23, 2025 prompting the company to refile the documents.
Amtech Esters Ltd. IPO is a Book Build Issue consisting solely of fresh issue of upto 0.24 crore equity shares.
The equity shares are proposed to be listed on the BSE SME. Credora Partners Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Amtech Esters IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 23,85,000 shares (agg. up to ₹[.] Cr) |
| Reserved for Market Maker | 1,20,000 shares (agg. up to ₹[.] Cr) |
| Fresh Issue (Ex Market Maker) | 22,65,000 shares (agg. up to ₹[.] Cr) |
| Net Offered to Public | 22,65,000 shares (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 64,45,168 shares |
| Share Holding Post Issue | 88,30,168 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Mon, Jan 13, 2025 |
| Offer document withdrawn | Fri, May 23, 2025 |
| Filed with SEBI/Exchange | Sat, May 30, 2026 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII Shares Offered | Not less than 15.00% of the Net Offer |
Amtech Esters Limited was incorporated in May 2002 and converted into a public limited company in December 2023. The company is engaged in the B2B manufacturing of Unsaturated Polyester Resins (UPRs) and trading of complementary products such as fiberglass, hardeners, silicones, and other ancillary materials used across industrial applications.
The company offers an integrated product portfolio comprising 49 UPR SKUs, pigments manufactured through its subsidiary Croda Pigments Private Limited (CPPL), fiberglass products, hardeners, and silicone-based products. These products cater to industries including paints & coatings, electricals, construction, automotive, marine, furniture, plastics, adhesives, and industrial equipment manufacturing.
Amtech operates two manufacturing facilities in Bahadurgarh, Haryana, with a combined installed capacity of over 3,342 MTPA. The company maintains dedicated Research & Development and Quality Control departments and is certified under ISO 9001:2015, ensuring consistent product quality and process reliability.
As of November 30, 2025, the company employed 59 personnel across production, quality control, sales, finance, legal, and administration functions.
Strengths
| Period Ended | 30 Nov 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 33.70 | 27.86 | 24.79 | 12.73 |
| Total Income | 25.75 | 36.97 | 27.24 | 22.38 |
| Profit After Tax | 2.44 | 3.72 | 2.84 | 0.61 |
| EBITDA | 4.66 | 6.50 | 1.65 | 0.89 |
| NET Worth | 17.80 | 15.36 | 11.64 | 8.67 |
| Reserves and Surplus | 14.58 | 12.14 | 8.41 | 7.87 |
| Total Borrowing | 3.64 | 3.99 | 4.49 | 1.01 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | Listing Day Close | Listing Gain/Loss % |
|---|---|---|---|---|---|
| Adisoft Technologies Ltd. | SME | ₹74.10 Cr | ₹172 | ₹215.25 | +25.15% |
| Highness Microelectronics Ltd. | SME | ₹21.67 Cr | ₹120 | ₹129.75 | +8.12% |
| Tipco Engineering India Ltd. | SME | ₹60.55 Cr | ₹89 | ₹84.79 | -4.73% |
| Gabion Technologies India Ltd. | SME | ₹29.16 Cr | ₹81 | ₹93.41 | +15.32% |
| Admach Systems Ltd. | SME | ₹42.60 Cr | ₹239 | ₹200.75 | -16.00% |
| Apollo Techno Industries Ltd. | SME | ₹47.96 Cr | ₹130 | ₹151.95 | +16.88% |
| HRS Aluglaze Ltd. | SME | ₹50.92 Cr | ₹96 | ₹132.30 | +37.81% |
| Purple Wave Infocom Ltd. | SME | ₹31.45 Cr | ₹126 | ₹130.50 | +3.57% |
| Shining Tools Ltd. | SME | ₹17.10 Cr | ₹114 | ₹98.80 | -13.33% |
| True Colors Ltd. | SME | ₹127.96 Cr | ₹191 | ₹183.05 | -4.16% |
| L.T.Elevator Ltd. | SME | ₹39.37 Cr | ₹78 | ₹142.90 | +83.21% |
| Airfloa Rail Technology Ltd. | SME | ₹91.10 Cr | ₹140 | ₹279.30 | +99.50% |
| Taurian MPS Ltd. | SME | ₹42.53 Cr | ₹171 | ₹220.50 | +28.95% |
| Cryogenic OGS Ltd. | SME | ₹17.77 Cr | ₹47 | ₹93.76 | +99.49% |
| Patil Automation Ltd. | SME | ₹69.61 Cr | ₹120 | ₹162.75 | +35.62% |
| Omnitech Engineering Ltd. | Mainboard | ₹583.00 Cr | ₹227 | ₹204.93 | -9.72% |
| Epack Prefab Technologies Ltd. | Mainboard | ₹504.00 Cr | ₹204 | ₹190.66 | -6.54% |
| Aditya Infotech Ltd. | Mainboard | ₹1,300.00 Cr | ₹675 | ₹1,082.65 | +60.39% |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment in the subsidiary, namely Croda Pigments Private Limited, by way of debt:1.Towards capital expenditure requirements of the subsidiary;2.To meet the incremental working capital requirements of the subsidiary | 8.81 |
| 2 | Repayment or prepayment, in full or in part, of certain borrowings availed by the Company | 4.20 |
| 3 | Funding inorganic growth through unidentified acquisitions and general corporate purposes | |
| Total | 13.01 |
| KPI | Nov 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 14.73% | 27.58% |
| ROCE | 20.49% | 35.10% |
| Debt/Equity | 0.20 | 0.26 |
| RoNW | 14.73% | 27.58% |
| PAT Margin | 9.51% | 10.09% |
| EBITDA Margin | 18.15% | 17.63% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.78 | 4.15 |
| Promoter Holding | 62.35% |
Lead Manager Reports
Amtech Esters IPO is a SME IPO of 23,85,000 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Amtech Esters IPO open and close dates are not available as of now.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Amtech Esters IPO using UPI as a payment gateway. Zerodha customers can apply in Amtech Esters IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Amtech Esters IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Amtech Esters IPO dates are not announced. Please check back again after some time.
Amtech Esters IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Amtech Esters IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Amtech Esters IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Amtech Esters IPO allotment status.
The Amtech Esters IPO listing date is not yet announced. The tentative date of listing is .
