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Aztec Fluids Machinery IPO
Price Band
₹63.0–67.0
Issue Size
₹24.12 Cr
Lot Size
2,000 shares
Min Investment
₹134,000
GMP
+₹54.0 (80.6%)
Issue Price
₹67.0
Subject to Sauda
₹82100
Paid only if allotted
Aztec Fluids Machinery IPO AI Summary
- Aztec Fluids Machinery IPO is listed on BSE SME in the Computers Hardware & Equipments sector.
- Price band: ₹63.0–₹67.0 per share, lot size 2,000 shares (min. investment ₹134,000).
- Subscription window: 10 May–14 May 2024, listing on 17 May 2024.
- Current GMP is +₹54.0 (80.6%), an estimated listing price of ₹121 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Aztec Fluids Machinery IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 14 May 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Aztec Fluids Machinery IPO Grey Market Premium (GMP) Today
GMP
+₹54.0
GMP %
+80.6%
Est. Listing
₹121.0
Updated: 25 Jul 2026 14:06
About the Company
Founded in April 2010, Aztec Fluids & Machinery Limited provides a quality-assured assortment of Printers, Printer consumables, and Printer Spares to a diverse range of industries, including personal care, food and beverages, pharmaceuticals, construction materials, cables, wires, and pipes, metals, automotive and electronics, agrochemicals, and chemicals and petrochemicals. The company's range of products includes various types of printers, namely continuous inkjet printers (CIJ), Thermal Transfer Over printers (TTO), Drop on demand printers (DOD), NIJ printers (i.e. piezoelectric printers), and laser printers. Additionally, the company offers printer inks and consumable items such as makeup and cleaning solvents. The company exports its products to countries such as Sri Lanka, Nepal, Bhutan, Bangladesh, Kenya and Nigeria. The company has its registered office in Ahmedabad and a warehouse in Kheda, Gujarat for storing imported printers. As of December 31, 2023, The company had a team of 28 employees dedicated to sales and marketing, and 51 employees dedicated to after-sales service and support at client locations.
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 42.87 | 30.90 | 27.08 | 21.13 |
| Total Income | 51.82 | 54.53 | 46.43 | 34.68 |
| Profit After Tax | 4.51 | 3.27 | 3.11 | 2.46 |
| NET Worth | 19.86 | 15.36 | 12.39 | 9.59 |
| Reserves and Surplus | 9.86 | 13.36 | 12.38 | 9.58 |
| Total Borrowing | 5.66 | 5.62 | 5.52 | 5.14 |
Key Ratios
EPS
₹3.27
NAV
₹19.86
ROE
25.60%
ROCE
25.38%
RoNW
22.69%
P/B Value
3.37
P/E Ratio
20.47
Market Cap
₹91.12 Cr
PAT Margin
8.85%
Debt/Equity
0.28
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| Control Print Ltd. | 17.23% | 29.13 | 32.36 | 32.36 |
| Aztec Fluids & Machinery Limited This IPO | 21.32% | — | 3.27 | 3.27 |
Promoters
Pulin Kumudchandra Vaidhya, Amisha Pulin Vaidhya and Kumudchandra Bhagwandas Vaidya
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding of the proposed acquisition of equity shares of Jet Inks Private Limited 14.00 2 Repayment of a portion of certain borrowing availed by the Company 3.72 3 General Corporate Purposes 4.31
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹46.43 Cr in the year ended 31 Mar 2022, rising to ₹54.53 Cr by 31 Mar 2023, before decreasing to ₹51.82 Cr by 31 Dec 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹3.11 Cr in the year ended 31 Mar 2022, increasing to ₹3.27 Cr by 31 Mar 2023, and further rising to ₹4.51 Cr by 31 Dec 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Aztec Fluids & Machinery Limited has an implied P/E ratio of 20.47 at the issue price, compared to peers like Control Print Ltd. which has a P/E of 29.13.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before its official listing. A higher GMP suggests that investors anticipate a strong demand for the shares once they are publicly traded.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering the company's fundamentals and market conditions.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO opens for subscription on 10 May 2024 and closes on 14 May 2024. Allotment of shares will be done on 15 May 2024, with the listing date set for 17 May 2024.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed on the stock exchange. However, these gains are not guaranteed and can be affected by market conditions, demand for the shares, and overall investor sentiment.
This evaluation is generated from Aztec Fluids Machinery's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Aztec Fluids Machinery IPO GMP today?
Aztec Fluids Machinery IPO GMP today is +₹54.0 (80.6%), indicating an estimated listing price of ₹121. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Aztec Fluids Machinery IPO?
The price band of Aztec Fluids Machinery IPO is ₹63.0–₹67.0 per share.
When does Aztec Fluids Machinery IPO open and close?
Aztec Fluids Machinery IPO opens on 10 May 2024 and closes on 14 May 2024.
When does Aztec Fluids Machinery IPO list on the stock exchange?
Aztec Fluids Machinery IPO listed on 17 May 2024 at ₹121.0.
What is the lot size for Aztec Fluids Machinery IPO?
The lot size for Aztec Fluids Machinery IPO is 2000 shares, requiring a minimum investment of ₹134,000.
What is the price band for the IPO?
The price band for the IPO is ₹63.0 to ₹67.0.
What is the minimum investment required?
The minimum investment required is ₹134,000.
What is the lot size for this IPO?
The lot size for this IPO is 2000 shares.
When does the IPO open and close?
The IPO opens on 10 May 2024 and closes on 14 May 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
10 May 2024
Close
14 May 2024
Allotment
15 May 2024
Listing
17 May 2024
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