Seemax Resources IPO

About Seemax Resources IPO

The public issue of the Seemax Resources IPO, an SME IPO, opens on Tuesday, June 30, 2026 and closes on Thursday, July 2, 2026. The allotment of shares will take place on Friday, July 3, 2026. The credit of shares to the demat account will take place on Monday, July 6, 2026 . The initiation of refunds will take place on Monday, July 6, 2026 . The listing of shares will take place on Tuesday, July 7, 2026.

The offer consists of a fresh issue component. The fresh issue will include 0.14 crore shares of ₹19.74 crores. The total number of shares and the aggregate amount is 14,00,000 shares aggregating up to ₹20 crores.

Seemax Resources price band is set at ₹134 to ₹141 per share. The lot size for an application is 1,000 shares. The minimum amount of investment required by a retail investor is ₹2,82,000 (2,000 shares) (based on upper price). The minimum lot size investment in HNI is 3 lots (3,000 shares), amounting to ₹4,23,000.

Seemax Resources provides rental solutions for Material Handling Equipment (MHE) with a distinctive focus on comprehensive maintenance services and trained operator support. In addition to their rental offerings, they provide access to a comprehensive range of new MHE sourced directly from reputed global manufacturers with whom they maintain authorised dealership relationships.

Objectives of Seemax Resources

• Funding capital expenditure for the purchase of material handling equipment.
  
• Funding towards the repayment or prepayment, in full or in part, of borrowings availed by the company from banks and financial institutions.
  
• Funding the long-term working capital requirements of the company.
  
• General corporate purposes.
  

Industry Outlook

The India material handling equipment market is driven by rapid industrialisation, expanding manufacturing activities, government initiatives like the Production-Linked Incentive (PLI) scheme, rising e-commerce logistics, and increasing infrastructure development, all contributing to higher demand for advanced automation, efficient warehousing solutions, and technologically upgraded handling systems across industries.

About Seemax Resources

Seemax Resources’ business model is structured to serve a broad spectrum of industries, including automotive, steel, glass, cement, textiles, engineering goods, warehousing and logistics, retail and e-commerce, ports and shipping, construction and infrastructure, as well as aviation and railways. Each of these sectors has distinct requirements for efficient material movement and handling, and they design their solutions to address specific operational needs. Their fleet includes battery forklifts, diesel forklifts, hydra cranes, battery-operated pallet trucks (BOPT), and reach trucks.

Strengths of Seemax Resources

• Comprehensive rental solutions with value-added services.
• Skilled and dedicated workforce.
• Quality assurance of their services.
• Experienced promoters and senior management with technical expertise.
• Authorised dealership network.

Risks of Seemax Resources

• Any negative developments in the Material Handling Equipment rental segment.
• Loss of one or more key clients or a reduction in demand from them.
• Any adverse development affecting their operations in the state of Gujarat.
• Any disruption in the supply chain or failure by third-party suppliers to fulfil their obligations.
• Rapid technological advancements in Material Handling Equipment that may render their existing fleet obsolete.

All the financial information for listed industry peer mentioned above (for consistency in comparison of financial ratios) sourced from the Annual Reports of respective company/Information of the peer company submitted to stock exchanges.

Figures are taken from the latest available data of the peer companies (i.e., December 31, 2025) except the CMP which is taken as on February 05, 2026. PE ratio is calculated by taking CMP above by EPS for the period ended December 31, 2025.

Notes: 1. All the financial information for Seemax Resources is sourced from the Restated Financial Statements for the period ended December 31, 2025.

2. Considering the nature and size of business of the Company, the peers are not strictly comparable. However, the same have been included for broad comparison.

3. The figures for the peer group are based on the standalone financials results for the nine months ended December, 2025 submitted with stock exchanges.

4. The price band/floor price/issue price has been determined by the issuer in consultation with the Book Running lead manager(s), on the basis of book-building.

Anchor Investor Bidding Date: June 29, 2026

Registrar Details
Cameo Corporate Services Limited
Email: ipo@cameoindia.com
Tel.: +91 044 4002 0700 / 2846 0390

Book Running Lead Manager
Wealth Mine Networks Limited

Seemax Resources Contact Details
403, Mayfair Corporate Park,
Behind DPS School, Kalali,
Vadodara, Gujarat, 390012
Email: info@seemaxresources.com
Phone: +91-99040 89444

Seemax Resources Business Model

The company earns its revenue through the following:

• Rental Solutions: Providing rental solutions for Material Handling Equipment (MHE) with a distinctive focus on comprehensive maintenance services and trained operator support.

• Trading in MHE: Trading of Material Handling Equipment (MHE), enabling customers to purchase equipment that matches their operational requirements and financial plans.

Seemax Resources Growth Trajectory

Seemax Resources’ total income increased to ₹14.46 crores in FY 2024–25 from ₹11.41 crores in FY 2023–24, reflecting a year-on-year growth of 26.80%.

The PAT for FY 2024–25 stood at ₹2.24 crores as compared to ₹1.43 crores in FY 2023–24, recording a strong growth of 56.90%.

Their EBITDA increased from ₹3.78 crores in FY 2023–24 to ₹4.85 crores in FY 2024–25.

Seemax Resources Market Position

As of December 31,2025, their Rental Solutions vertical is supported by a fleet of 97 Material Handling Equipment (MHE) units, entirely owned and operated by them.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹14.460 crores, ₹2.237 crores, and ₹4.849 crores, respectively.

How to apply for Seemax Resources 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.