Amtech Esters IPO

About Amtech Esters IPO

The public issue of Amtech Esters IPO, an SME IPO, opens on TBA and closes on TBA. The allotment of shares will take place on TBA. The credit of shares to the demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA.

The offer consists of a fresh issue component. The fresh issue will include up to 23,85,000 equity shares of face value of ₹10/- each aggregating up to ₹[TBA] crores. The total number of shares is 23,85,000 and the aggregate amount is yet to be finalised.

Amtech Esters IPO’s price band is set at TBA to TBA per share. The lot size for an application is TBA. The minimum amount of investment required by a retail investor is ₹TBA (TBA shares) (based on upper price). The minimum lot size investment for HNI is TBA.

Amtech Esters is engaged in the B2B business of manufacturing of Unsaturated Polyester Resins (referred as UPR or UPRs) and trading in their complementary products like fibre resin, hardeners & silicons and other ancillary products. By offering these complementary products along with their manufactured UPRs, they are able to provide customers with an integrated sourcing solution rather than a single-product offering.

Objectives of Amtech Esters IPO

• Investment in their subsidiary, namely Croda Pigments Private Limited, by way of debt:

a) Towards capital expenditure requirements of the subsidiary. b) To meet the incremental working capital requirements of the subsidiary.

• Repayment or prepayment, in full or in part, of certain borrowings availed by the company.

• Funding inorganic growth through unidentified acquisitions and general corporate purposes.

Industry Outlook

The Indian chemical industry is a cornerstone of the nation’s manufacturing ecosystem, supplying critical inputs to key sectors such as agriculture, pharmaceuticals, textiles, automobiles, and construction. Globally, India ranks as the sixth-largest producer of chemicals and the third largest in Asia. Furthermore, India is the third-largest consumer of polymers globally and the third-largest producer of agrochemicals. The Indian chemical sector is highly diversified, covering over 80,000 commercial products.

Projections for 2026: The Chemical Industry Outlook 2026 projects moderate global growth driven by sustainability and digitization, positioning the Asia-Pacific region as the dominant engine of expansion. Notably, India is projected to see its chemical production increase by an exceptional 10.9% in 2026, outperforming the flat outputs expected in the U.S. and sluggish recovery in Europe. This growth is fueled by robust domestic demand and targeted government support.

About Amtech Esters

Amtech Esters is engaged in the B2B business of manufacturing of Unsaturated Polyester Resins (referred as UPR or UPRs) and trading in their complementary products like fibre resin, hardeners & silicons and other ancillary products. By offering these complementary products along with their manufactured UPRs, they are able to provide customers with an integrated sourcing solution rather than a single-product offering. It also enables them to serve customers across different stages of the resin and FRP value chain, from base resin requirements to curing, reinforcement, finishing and application-specific consumables

Further, their subsidiary, Croda Pigments Private Limited (referred as CPPL) is into the business of manufacturing pigments which are used as colourants and additives in various industrial and household products. CPPL operates in a vertically aligned line of business, complementing and expanding their operations. Their product portfolio consists of polyester resin (referred as UPRs), fibreglass of different variants, hardener, silicons and pigments used in paints, varnishes, dyes, glue gums and allied chemical applications.

Strengths of Amtech Esters

• Diversified product portfolio catering to a broad customer base.
• Strong quality assurance ensures consistent and standardized product excellence.
• Experienced promoter and senior management supported by a knowledgeable sales team.
• Synergetic collaboration with the subsidiary.

Risks of Amtech Esters

• A significant portion of their revenue is derived from unsaturated polyester resins.
• The majority of their revenue from operations is derived from their manufacturing vertical.
• Their business is manpower intensive.
• They have significant receivables on their books from their customers.
• There have been certain instances of non-compliances/ discrepancies, including with respect to certain secretarial/ regulatory filings for corporate actions taken by the company in the past.

Anchor Investor Bidding Date: TBA

Registrar Details
Maashitla Securities Private Limited
Email: ipo@maashitla.com
Tel.: 011-47581432

Book Running Lead Manager
Credora Partners Private Limited

Amtech Esters Contact Details

Address: Flat No. 102, Plot No. A – 3, Magnum House 1, Commercial Complex, Karam Pura, West Delhi, New Delhi, West Delhi, New Delhi, 110015 Email: info@amtechesters.com Phone: 011-49044111

Amtech Esters Business Model

The company earns its revenue through the manufacturing of Unsaturated Polyester Resins (referred as UPR or UPRs) and trading in their complementary products like fibre resin, hardeners & silicons and other ancillary products.

Amtech Esters Growth Trajectory

Amtech Esters’s Total Income for FY25 was ₹36.966 crores, whereas in FY24 it was ₹27.239 crores. (Consolidated)

The Profit After Tax for FY25 was ₹3.722 crores, whereas in FY24 it was ₹2.837 crores.

Their EBITDA for FY25 was ₹6.502 crores, whereas in FY24 it was ₹1.647 crores.

Amtech Esters Market Position

As on May 30, 2026, their portfolio consists of 79 SKUs for both manufacturing and the trading vertical. Their established supplier network ensures reliability, consistency, and timely availability of raw materials, supporting the seamless continuity of their operations. They have developed strong and long-standing relationships with their suppliers over the years, which enables them to procure raw materials on competitive terms.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹36.966 crores, ₹3.722 crores, and ₹6.502 crores, respectively.

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.