FX Multitech Limited
Bookbuilding IPO · BSE
- Price band
- ₹110 - ₹116
- Lot size
- 1,200 shares
- Issue amount
- ₹45.24 cr
- Total subscription
- 17.72×
- Opens
- 21 Sept 2026
- Closes
- 23 Sept 2026
- Allotment
- 24 Sept 2026
- Listing
- 28 Sept 2026
Offer at a glance
Issue overview
- Issue size
- 39,00,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,32,000
- Fresh issue
- ₹41.21 cr
- Offer for sale
- ₹4.03 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,39,200
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,08,07,600
- Shares after issue
- 1,43,59,600
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,400 | ₹2,78,400 |
| sHNI | 3 | 3,600 | ₹4,17,600 |
| bHNI | 8 | 9,600 | ₹11,13,600 |
Share reservation
Subscription & GMP
Subscription by category
Reported 23 Sept 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 541 | 6,660 |
| HNIs(10L +) | 103 | 1,058 |
| HNIs (2-10L) | 52 | 849 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 8.63 | 180.85 |
| Others | 0 | 0.11 |
| RETAIL | 15.06 | 185.41 |
| NIB | 6.47 | 168.18 |
| HNIs 2+ | 2.16 | 39.28 |
| HNIs 10+ | 4.32 | 128.9 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 10.68 | 8.84 | 3.87 |
| ROE | 37.63 | 44.4 | 28.57 |
| ROCE | 28.93 | 28.98 | 24.54 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 10.86 | 0 | 0 |
| POST IPO(PE) | 14.43 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
FX Multitech Limited, incorporated in March 2008, is engaged in the distribution and export of engineering and refrigeration products, primarily serving the HVAC and industrial refrigeration industries. Its product portfolio includes compressors, refrigeration and air-conditioning controls, industrial refrigeration controls, variable frequency drives, automation products, specialized components and tools, heat exchangers, cold room evaporators, refrigerants and other ancillary products. The Company sources products from globally recognized manufacturers and provides reliable, energy-efficient and cost-effective solutions for industrial and commercial applications. Headquartered in Ahmedabad, Gujarat, FX Multitech has warehouses in Hyderabad, Thane, Kolkata and Bangalore, enabling it to serve customers across India with timely delivery, technical assistance and after-sales support, while also catering to international markets through exports. The Company has established relationships with various global suppliers and also operates through its subsidiary, Everestt Chillers Private Limited, in which it acquired a 51% stake in January 2025. The subsidiary manufactures customised industrial chillers, glycol chillers, chilled water air conditioners and effluent chillers, complementing FX Multitech’s refrigeration product range. As of July 31, 2026, the Company had 48 employees across sales and marketing, logistics, administration, finance, purchasing, legal and compliance, technical support and other functions.
Strengths
- Strong Global Supplier Relationships: The company has established supplier relationships across Europe and Asia, providing access to a wide range of products, components and new technologies. This supports its competitiveness and market reputation.
- Wide & Established Distribution Network: The company has a strong distribution network across several Indian states, supported by strategically placed warehouses and efficient logistics. This helps ensure timely deliveries and supports business expansion.
- Diversified Product Portfolio: The company offers products across HVAC, refrigeration, automation, electrical components and industrial accessories. This reduces reliance on a single sector and helps serve customers across different industries.
Risk factors
- Dependence on Key Suppliers: A large portion of purchases comes from a limited number of suppliers, including one major supplier. As there are no long-term supply agreements, any disruption could negatively impact operations and financial performance.
- No Long-Term Customer Agreements: The company does not have long-term contracts or fixed purchase commitments with customers. Customers may reduce, delay or cancel orders or move to competitors, affecting revenue, capacity utilisation, cash flows and operational efficiency.
- Customer Receivables & Payment Risk: The company provides credit to customers, creating a risk of delayed or unpaid receivables. Customer financial issues, disputes or administrative delays could impact profitability and cash flows.
Promoters
Subhash Agarwal
Selvaraj Rangaswamy
Anita Agarwal
Kanagalakshmi Selvaraj
Registrar & documents
Lead manager
Oneview Corporate Advisors Private Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
C-907, 908 Titanium Square, Thaltej Cross Road, Thaltej, Ahmedabad, Gujarat, 380054
079-48925548
[email protected]Company website ↗Understanding FXML IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.