Minimum Investment
About Company
Company Name: FX Multitech Limited
Industry / Sector: HVAC & Industrial Refrigeration Products Distribution
Founded Year: March 2008
Promoters: Subhash Agarwal, Selvaraj Rangaswamy, Anita Agarwal, Kanagalakshmi Selvaraj
FX Multitech Limited is engaged in the distribution and export of a diverse portfolio of products catering primarily to the HVAC (Heating, Ventilation and Air Conditioning) and industrial refrigeration industries. The Company offers a wide range of engineering and refrigeration products, including compressors, refrigeration and air-conditioning controls, industrial refrigeration controls, variable frequency drives and automation products, specialized components and tools, heat exchangers, cold room evaporators, refrigerants and ancillary products. It sources products from globally recognized manufacturers and supplies technologically advanced, reliable, energy-efficient and cost-effective solutions for industrial and commercial applications. FX Multitech has a diversified distribution network with its headquarters in Ahmedabad, Gujarat, and warehouses in Hyderabad, Thane, Kolkata and Bangalore. The Company also has a subsidiary, Everestt Chillers Private Limited (ECPL), in which it acquired a 51% equity stake in January 2025. ECPL manufactures customised industrial chillers, glycol chillers, chilled water air conditioners and effluent chillers. As of July 31, 2026, the Company had a workforce of 48 personnel.
IPO Basic Details
| Company Name | FX Multitech Limited |
| IPO Type | SME IPO |
| Price Band | ₹110 – ₹116 |
| Lot Size | 1200 Shares |
| Total Issue Size | 39,00,000 Equity Shares (₹45.24 Cr) |
IPO Strengths & Risks
Strengths
- Strong relationships with global suppliers
- Wide and established distribution network
- Efficient operations and supply chain management
- Diversified product portfolio across multiple industries
- Strong customer relationships supported by technical expertise
Risks
- Significant supply chain risk with over 74% of purchases from a single supplier post-IPO
- Promoters do not have prior experience in the HVAC and Industrial Refrigeration industry
- Dependence on global suppliers for product sourcing
- Exposure to foreign exchange fluctuations
- Competition from other distributors and suppliers
- SME IPO with lower liquidity compared to mainboard listings
IPO Important Dates
| IPO Open Date | 21 Sep 2026 |
| IPO Close Date | 23 Sep 2026 |
| Basis of Allotment | 24 Sep 2026 |
| Refund Initiation | 25 Sep 2026 |
| Demat Credit Date | 25 Sep 2026 |
| Listing Date | 28 Sep 2026 |
| Anchor Investor Date | - |
| UPI Mandate Deadline | - |
IPO Objectives
- Capital expenditure for machinery and equipment – -
- Funding working capital requirements – -
- Debt repayment – -
- General corporate purposes – Balance Amount
Investor Reservation
| QIB Quota | 49.87% of Net Offer (18,46,800 shares) |
| Retail Quota | 35.06% of Net Offer (12,98,400 shares) |
| HNI Quota | - |
| Employee Quota | - |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lots | 2400 | ₹2,78,400 |
| Retail Maximum | 2 Lots | 2400 | ₹2,78,400 |
| S-HNI Minimum | 3 Lots | 3600 | ₹4,17,600 |
| S-HNI Maximum | 7 Lots | 8400 | ₹9,74,400 |
| B-HNI Minimum | 8 Lots | 9600 | ₹11,13,600 |
Key Performance Indicators (KPI)
| ROE | 37.63% |
| ROCE | 28.93% |
| RoNW | - |
| PAT Margin | 9.60% |
| EBITDA Margin | 15.35% |
| EPS | ₹10.68 (Pre-IPO), ₹8.04 (Post-IPO) |
| NAV per share | - |
| Debt to Equity | 0.49 |
| P/E Ratio | - |
| Industry P/E | - |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| FY2026 | ₹73.05 Cr | ₹111.90 Cr | ₹11.54 Cr | ₹19.37 Cr | ₹37.89 Cr | ₹18.42 Cr |
| FY2025 | ₹61.12 Cr | ₹102.34 Cr | ₹9.64 Cr | ₹14.17 Cr | ₹26.35 Cr | ₹17.32 Cr |
| FY2024 | ₹32.66 Cr | ₹68.74 Cr | ₹4.18 Cr | ₹6.95 Cr | ₹16.71 Cr | ₹11.24 Cr |
Grey Market Premium
| GMP Price | ₹0 |
| Kostak Rate | Not Available |
| Subject to Sauda | Not Available |
| Last Updated | 16 Sep 2026 |
| Estimated Listing Price | ₹116 (0.00% premium over upper price band) |
IPO Subscription Data
| Total Subscription | Pending |
| QIB (Ex Anchor) | Pending |
| HNI Subscription | Pending |
| Retail Subscription | Pending |
| Anchor | - |
IPO Intermediaries
Registrar: MUFG Intime India Pvt. Ltd.
Registrar Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Manager(s)
Company Information
Address: C-907, 908 Titanium Square, Thaltej Cross Road, Thaltej, Ahmedabad, Gujarat - 380054
Website: https://www.fxmultitech.com
Email: compliance@fxmultitech.com
Phone: 079-48925548
IPO Documents
Frequently Asked Questions (FAQ)
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