1,084 Views| 23 Oct 2026
Amtech Esters IPO Details
Issue Date
09 Sep - 11 Sep'26
Price Band
₹71 - ₹75
Lot Size
1600 Shares
IPO Size
₹18 Cr
Listing At
BSE
Overall Subscription
22.04x
Amtech Esters IPO Listing Details
Listing On
17 Sep'26
Issue Price
₹75
Listed Price
₹ 100
Retail Gain/Listing Gain
33.33%Increase
Schedule of Amtech Esters IPO
IPO Open Date
09/09/2026
IPO Close Date
11/09/2026
Basis of Allotment
15/09/2026
Refund Initiation
16/09/2026
Credit of Shares
16/09/2026
Listing on exchange
17/09/2026
Amtech Esters IPO Subscription Status Live
(Last updated on 11 Sep 2026 03:45 PM)
Day | Total | QIB | Retail | NII |
|---|---|---|---|---|
Day 1 09-Sep-2026 | 1.05x | 1x | 0.77x | 1.58x |
Day 2 10-Sep-2026 | 2.61x | 1x | 3.42x | 2.8x |
Day 3 11-Sep-2026 | 17.61x | 9.77x | 21.74x | 18.19x |
About Amtech Esters IPO
The public issue of Amtech Esters IPO, an SME IPO, opens on Wednesday, September 9, 2026 and closes on Friday, September 11, 2026. The allotment of shares will take place on Tuesday, September 15, 2026. The credit of shares to the demat account will take place on Wednesday, September 16, 2026. The initiation of refunds will take place on Wednesday, September 16, 2026. The listing of shares will take place on Thursday, September 17, 2026.
The equity shares of the company are proposed to be listed on the BSE SME platform. The offer consists of a fresh issue component. The fresh issue will include up to 23,84,000 equity shares of face value of ₹10 each aggregating up to ₹18 crore. The total number of shares is 23,84,000 shares aggregating up to ₹18 crore.
Amtech Esters IPO’s price band is set at ₹71 to ₹75 per share. The lot size for an application is 1,600 shares. The minimum amount of investment required is ₹2,40,000 for 3,200 shares, based on the upper price band.
Amtech Esters is engaged in the B2B business of manufacturing Unsaturated Polyester Resins (UPR) and trading in complementary products such as fibre resin, hardeners, silicones and other ancillary products.
Objectives of Amtech Esters IPO
- Investment in wholly owned subsidiary Croda Pigments Private Limited by way of debt for capital expenditure and working capital.
- Repayment or prepayment of certain borrowings availed by the company.
- Funding inorganic growth through unidentified acquisitions and general corporate purposes
Amtech Esters IPO Valuation
Detail | Information |
|---|---|
Upper Price Band | ₹71 to ₹75 |
Fresh Issue | Up to 23,84,000 Equity Shares |
Offer for Sale | - |
EPS Diluted (in ₹) for FY26 | 6.55 |
IPO Lot Size
Application | Lots | Shares | Amount |
|---|---|---|---|
Individual investors (IND) (Min) | 2 | 3,200 | ₹2,40,000 |
Individual investors (IND) (Max) | 2 | 3,200 | ₹2,40,000 |
S-HNI (Min) | 3 | 4,800 | ₹3,60,000 |
S-HNI (Max) | 8 | 12,800 | ₹9,60,000 |
B-HNI (Min) | 9 | 14,400 | ₹10,80,000 |
Share Offer and Subscription Details
Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net offer |
Non-institutional Investors (NIIs) | Not less than 15% of the net offer |
Retail-individual Investors (RIIs) | Not less than 35% of the net offer |
Industry Outlook
The global economy is shaped by opposing forces including geopolitical tensions and technological advances in artificial intelligence.
The Indian specialty chemicals sector is primed for aggressive expansion through green chemistry and backward integration.
Chemical enterprises are scaling their technological infrastructure to meet growing industrial demand.
About Amtech Esters
The company was originally incorporated as Amtech Esters Private Limited on May 21, 2002, and subsequently converted into a Public Limited Company on December 12, 2023.
The company is engaged in the business of manufacturing unsaturated polyester resins (UPRs) and trading in complementary products such as fiber resins, hardeners, silicones, and other ancillary products.
The company also has a wholly owned subsidiary, Croda Pigments Private Limited, which is engaged in the manufacturing of pigments used as colourants and additives in various industrial and household applications.
Strengths of Amtech Esters
- Diversified product portfolio catering to a broad customer base.
- Strong quality assurance ensuring consistent and standardized product excellence.
- Experienced promoter and senior management supported by a knowledgeable sales team.
- Synergetic collaboration with wholly owned subsidiary.
Risks of Amtech Esters
- A significant portion of revenue is derived from unsaturated polyester resins.
- Majority of revenue from operations is derived from manufacturing facilities situated in Haryana.
- The business is manpower intensive and subject to employee attrition risks.
- The company had negative cash flow from investing and financing activities in the past.
- The property used for the registered office is not owned by the company.
Amtech Esters Financials
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Year | Year Data |
|---|---|
FY24 | 24.6 |
FY25 | 36.89 |
FY26 | 40.67 |
Peer Comparison
There are no listed peers operating in this industry. Additionally, no suitable unlisted peers are available that are comparable to the size of and the scale of the operations.
Anchor Investor Bidding Date
Tuesday, September 08, 2026
IPO Registrar and Book Running Lead Managers
Registrar Details
Maashitla Securities Private Limited
Telephone:011-47581432
Email: ipo@maashitla.com
Book Running Lead Manager
Credora Partners Private Limited
Amtech Esters Contact Details
Flat No. 102, Plot No. A 3, Magnum House 1, Commercial Complex,
Karam Pura, New Delhi 110015, India.
Email Id: info@amtechesters.com
Phone: 011-49044111
Amtech Esters Business Model
B2B manufacturing and trading model providing integrated sourcing solutions across the resin and FRP value chain.
Amtech Esters Growth Trajectory
Amtech Esters Total Income for FY26 was ₹40.75 crore, whereas in FY25 and FY24 it was ₹36.97 crore and ₹27.24 crore, respectively.
The Profit After Tax for FY26 was ₹4.22 crore, whereas in FY25 and FY24 it was ₹3.72 crore and ₹2.84 crore, respectively.
Their EBITDA for FY26 was ₹7.49 crore, whereas in FY25 and FY24 it was ₹6.5 crore and ₹1.65 crore, respectively.
Amtech Esters Market Position
The Company also has a wholly owned subsidiary, Croda Pigments Private Limited, which is engaged in the manufacturing of pigments used as colourants and additives in various industrial and household applications.
As of 31 March 2026, the company's Total Income, Profit After Tax, and EBITDA were ₹40.75 crore, ₹4.22 crore, and ₹7.49 crore, respectively.
Amtech Esters Profit and Loss Statement (in ₹ crore)
Parameter | FY 26 | FY 25 | FY 24 |
|---|---|---|---|
Total Income | 40.75 | 36.97 | 27.24 |
Profit Before Tax | 5.75 | 5.16 | 3.4 |
Profit After Tax | 4.22 | 3.72 | 2.84 |
EPS (Diluted) ₹ | 6.55 | 5.78 | 4.40 |
EBITDA | 7.49 | 6.5 | 1.65 |
Amtech Esters Balance Sheet (in ₹ crore)
Parameter | FY 26 | FY 25 | FY 24 |
|---|---|---|---|
Profit Before Tax | 5.75 | 5.16 | 3.4 |
Net Cash from Operating Activities | 4.15 | 2.72 | 1.97 |
Net Cash from Investing Activities | (3.99) | (3.18) | (1.36) |
Net Cash from Financing Activities | (0.91) | (0.94) | 3.11 |
Cash & Cash Equivalents | 1.63 | 2.37 | 3.77 |
Note: () denotes negative
How to apply for Amtech Esters IPO?
- Step 1: Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
Amtech Esters IPO FAQs
The Amtech Esters IPO opens for subscription from 09-09-2026 to 11-09-2026, with a total issue size of ₹18 Cr. The IPO price band is ₹71 to ₹75 per share with a lot size of 3200. The company aims to list the shares on BSE & NSE on 17-09-2026.
The Amtech Esters IPO will open for subscription on 09-09-2026 and will close on 11-09-2026 for investors.
The lot size of Amtech Esters IPO is 3200 equity shares, requiring a minimum investment of ₹120000/2 Lots for retail investors applying in the IPO.
The price band of the Amtech Esters IPO has been fixed at ₹71 to ₹75 per equity share.
You can apply for the Amtech Esters IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
Amtech Esters IPO allotment will take place on 15-09-2026.
You can check the Amtech Esters IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.
Amtech Esters shares will list on the stock exchanges on 17-09-2026.
You can find detailed information about the Amtech Esters IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).
Ajit Singh Bawa is the Managing Director of Amtech Esters Limited.
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This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their own research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed SEBI prescribed limit. The securities are quoted as an example and not as a recommendation. SEBI Registration No-INZ000200137 Member Id NSE-08081; BSE-673; MSE-1024, MCX-56285, NCDEX-1262.
