FX Multitech

FX Multitech

LISTED

IPO Date: 21 Sept - 23 Sept 2026

Listing Date: 28 Sept 2026

Price Range

Rs.110 - Rs.116

Issue Size

45 Cr

Min Investment

₹2,64,000

2 lots minimum (SEBI rule for SME)

Min Application

2400 Shares

1200 per lot × 2

View IPO Document

Schedule of FX Multitech

  1. Issue open date

    21 Sept 2026

  2. Issue close date

    23 Sept 2026

  3. UPI mandate deadline

    23 Sept 2026 (5 PM)

  4. Allotment finalization

    24 Sept 2026

  5. Share credit

    25 Sept 2026

  6. Listing date

    28 Sept 2026

  7. Mandate end date

    8 Oct 2026

Issue size

Funds Raised in the IPOAmount
Overall45 Cr
Fresh Issue41.2 Cr
Offer for Sale4.04 Cr

Allotment DetailsNew

Allotment TimelineDetails
Allotment Date24 Sept 2026
Allotment Link{Link}

Grey Market Premium

New

Grey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.

DateIPO PriceGMPEst. Listing Price
28 Sept 2026Latest₹116₹6₹122(+5.6%)
27 Sept 2026₹116₹6₹122(+5.6%)
26 Sept 2026₹116₹6₹122(+5.17%)
25 Sept 2026₹116₹6₹122(+5.17%)
24 Sept 2026₹116₹4₹120(+3.45%)
23 Sept 2026₹116₹4₹120(+3.45%)
22 Sept 2026₹116₹0₹116(0%)
21 Sept 2026₹116₹0₹116(0%)
20 Sept 2026₹116₹0₹116(0%)
19 Sept 2026₹116₹0₹116(0%)
18 Sept 2026₹116₹0₹116(0%)

Performance FX Multitech

Issue PriceListing GainCurrent Market PriceP/L
Rs.110 - Rs.116₹ 123 (6.08%) ₹ 1279.48%

About FX Multitech

FX Multitech Limited is a distributor and exporter of products for the HVAC (heating, ventilation, and air conditioning) and industrial refrigeration industries. Its product portfolio includes compressors, refrigeration and air-conditioning controls, industrial refrigeration controls, variable frequency drives and automation products, specialised components and tools, heat exchangers, cold room evaporators, refrigerants and ancillary products. The company sources products from manufacturers and supplies them to industrial and commercial customers in India and overseas. Its suppliers include Danfoss Industries Private Limited, Transfer Oil S.P.A., Quang Thang Mechanics and Refrigeration Company Ltd, KuzuFlex Metal San Ve Tic. A.S., Testo India Pvt. Limited, Refco Manufacturing Limited, US HVAC & Weld Tools, and Honeywell Automation India Ltd., among others. The company is headquartered in Ahmedabad, Gujarat, and has warehouses in Hyderabad, Thane, Kolkata, and Bangalore. Its subsidiary, Everestt Chillers Private Limited, manufactures customised industrial chillers, glycol chillers, chill water air conditioners, and effluent chillers.

Founded in2024
Managing directorMr Subhash Agrawal
Parent organization

Financial Overview

Strengths

5
  1. 1

    Key distributor partnerships with leading global HVAC equipment manufacturers.

  2. 2

    Forward integration via 51% controlling stake in manufacturing subsidiary Everestt Chillers.

  3. 3

    Diverse range of HVAC and industrial refrigeration product offerings.

  4. 4

    Strong customer footprint across key industrial states in India.

  5. 5

    Experienced promoter and key managerial leadership in engineering distribution.

Risks

5
  1. 1

    High supplier concentration with over 70% of purchases from a single supplier.

  2. 2

    Absence of long-term contracts, relying primarily on spot purchase orders.

  3. 3

    Geographical concentration with major revenues coming from the top three states.

  4. 4

    Instances of past procedural lapses and delayed statutory corporate filings.

  5. 5

    Substantial working capital requirements alongside recent negative operating cash flows.

Subscription Figures

CategorySubscription (No. of times)
Qualified Institutional Buyers (QIBs)N/A
Non-Institutional Investors (NIIs)0.88
Retail Individual Investors (RIIs)0.07
EmployeeN/A
Total0.27