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FX Multitech IPO
Price Band
₹110.0–116.0
Issue Size
₹45.24 Cr
Lot Size
1,200 shares
Min Investment
₹278,400
2 LOTS MIN
GMP
+₹6.5 (5.6%)
Issue Price
₹116.0
Subject to Sauda
₹5900
Paid only if allotted
FX Multitech IPO AI Summary
- FX Multitech IPO is listed on BSE SME in the Other Consumer Services sector.
- Price band: ₹110.0–₹116.0 per share, lot size 1,200 shares (min. investment ₹278,400, 2 lots minimum).
- Subscription window: 21 Sep–23 Sep 2026, listing on 28 Sep 2026.
- Current GMP is +₹6.5 (5.6%), an estimated listing price of ₹123 — unofficial and can change daily.
FX Multitech Limited is set to launch its IPO with a focus on the HVAC and Industrial Refrigeration sectors. The company has shown consistent growth in revenue and profit over the past few years, supported by its strong supplier relationships and diversified product offerings. Investors should consider their risk profile and market conditions before participating in this IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Overall Subscription
17.72x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
20.95x
|
21x ✓ |
| NII (HNI) |
25.98x
|
26x ✓ |
| ↳ bNII (>₹10L) |
29.94x
|
30x ✓ |
| ↳ sNII (<₹10L) |
18.21x
|
18x ✓ |
| Retail (RII) |
12.31x
|
12x ✓ |
| Total | 17.72x | 17.72x |
Auto-updated every 5 min · As of 23rd Sep 2026 18:55
FX Multitech IPO Grey Market Premium (GMP) Today
GMP
+₹6.5
GMP %
+5.6%
Est. Listing
₹122.5
Updated: 28 Sep 2026 01:45
GMP Trend (Last 12 Days)
About the Company
Incorporated in 2008, FX Multitech Limited is engaged in the distribution and export of a diverse portfolio of products, primarily catering to the HVAC (Heating, Ventilation, and Air Conditioning) and Industrial Refrigeration Industry. The company in the manufacturing and trading sector, focusing on delivering specialized products and solutions tailored to industrial, commercial, and infrastructure-related customer requirements. As a distributor, the company source and supply technologically advanced products from globally recognized manufacturers, ensuring that the customers receive the best solutions for their specific requirements. The company emphasizes quality control, efficient production processes, and timely delivery, catering to diverse client needs while maintaining compliance with industry standards and evolving market expectations. FX Multitech Limited aims to strengthen its market presence through operational efficiency, product diversification, and long-term customer relationships, supporting sustainable growth in competitive domestic and international markets. Product Portfolio: Compressors Refrigeration & Air-Conditioning Controls Industrial Refrigeration Controls Variable Frequency Drives and Automation Refrigerants and Ancillary Products Competitive Strengths: Relationship with global supplier Wide and Established Distribution Network Diversified product portfolio across multiple Industries Customer relationships led by Technical Expertise Efficient Operations and Supply Chain Management
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 73.05 | 61.12 | 32.66 |
| Total Income | 111.90 | 102.34 | 68.74 |
| Profit After Tax | 11.54 | 9.64 | 4.18 |
| EBITDA | 19.37 | 14.17 | 6.95 |
| NET Worth | 37.89 | 26.35 | 16.71 |
| Reserves and Surplus | 27.08 | 15.54 | 16.45 |
| Total Borrowing | 18.42 | 17.32 | 11.24 |
Key Ratios
EPS
₹10.68
NAV
₹35.22
ROE
37.63%
ROCE
28.93%
RoNW
31.80%
P/B Value
3.29
P/E Ratio
10.86
Market Cap
₹166.57 Cr
PAT Margin
9.60%
Debt/Equity
0.49
Promoters
Subhash Agarwal, Selvaraj Rangaswamy, Anita Agarwal, Kanagalakshmi Selvaraj
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 Repayment/pre-payment, in full or part, of certain borrowings availed by the Company 10.00 2 Investment in the subsidiary namely Everestt Chillers Pvt.Ltd. for purchase of machineries 6.26 3 Funding of Working Capital Requirements 14.83 4 General Corporate Purposes 6.00 5 Issue Expense 4.52 Total 41.61
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Total Income was ₹68.74 Cr in 31 Mar 2024, rising to ₹102.34 Cr by 31 Mar 2025, and further increasing to ₹111.90 Cr by 31 Mar 2026.
Profit Trend
Profit After Tax was ₹4.18 Cr in 31 Mar 2024, increasing to ₹9.64 Cr by 31 Mar 2025, and further rising to ₹11.54 Cr by 31 Mar 2026.
Grey Market Premium, Explained
The Grey Market Premium (GMP) refers to the unofficial market where IPO shares are traded before they are listed on the stock exchange. A positive GMP indicates that investors expect the stock to list at a higher price than the issue price, while a negative GMP suggests the opposite.
Subscription Demand
As of 23rd Sep 2026, the IPO was subscribed 17.72 times overall. The Institutional category saw a subscription of 20.95 times, the Non-Institutional High Net Worth category at 25.98 times, and the Retail category at 12.31 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's essential to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable, established companies may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO opens on 21st September 2026 and closes on 23rd September 2026. Allotment of shares is expected on 24th September 2026, with the listing date set for 28th September 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may open at a premium, others may not perform as expected. Investors should be prepared for potential volatility on the listing day.
This evaluation is generated from FX Multitech'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 FX Multitech IPO GMP today?
FX Multitech IPO GMP today is +₹6.5 (5.6%), indicating an estimated listing price of ₹123. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of FX Multitech IPO?
The price band of FX Multitech IPO is ₹110.0–₹116.0 per share.
When does FX Multitech IPO open and close?
FX Multitech IPO opens on 21 September 2026 and closes on 23 September 2026.
When does FX Multitech IPO list on the stock exchange?
FX Multitech IPO listed on 28 September 2026 at ₹122.5.
What is the lot size for FX Multitech IPO?
The lot size for FX Multitech IPO is 1200 shares, requiring a minimum investment of ₹278,400 (2 lots).
What is the price band for the FX Multitech IPO?
The price band for the FX Multitech IPO is ₹110.0 to ₹116.0.
What is the minimum investment required?
The minimum investment required is ₹278,400 for a lot size of 1200 shares.
When does the FX Multitech IPO open and close?
The IPO opens on 21st September 2026 and closes on 23rd September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO shares in the grey market.
When is the listing date for the FX Multitech shares?
The listing date for FX Multitech shares is 28th September 2026.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
21 Sep 2026
Close
23 Sep 2026
Allotment
24 Sep 2026
Listing
28 Sep 2026
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