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Amtech Esters IPOLISTED

BSESMEBook Built Issue

Amtech Esters Limited is a B2B chemical manufacturing company producing Unsaturated Polyester Resins (UPRs) and trading complementary products for the resin and FRP value chain.

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Listing price

₹100

Listing gain

+33.33%

Current

₹100

Listed

17 Sept 26

Opens

09 Sept 26

Closes

11 Sept 26

Allotment

15 Sept 26

Refund

16 Sept 26

Demat

16 Sept 26

Listing

17 Sept 26

Listed at

₹100

+33.33% on 17 Sept 26

Min. investment₹2,40,000

GMP₹14 · +18.7%

Subscribed25.76x

Track in the app

Overview

Price band

₹71-75

Lot size

1600 shares

Min. investment

₹2,40,000

Issue size

₹17.88 Cr

23.84 L shares

Fresh issue

₹17.88 Cr

23.84 L shares

Face value

₹10 / share

Issue type

Book Built Issue

Listing at

BSE

Reservation

Market Maker 5.03%Anchor Investor 28.39%QIB 18.99%B-HNI 9.53%S-HNI 4.77%Individual 33.29%

Category	Shares offered	% of issue
Market Maker	1,20,000	5.03%
Anchor Investor	6,76,800	28.39%
QIB	4,52,800	18.99%
NII (HNI)	3,41,800	14.3%
B-HNI	2,27,200	9.53%
S-HNI	1,13,600	4.77%
Individual	7,93,600	33.29%
Total	23,85,000	100%

Lot size & investment

Application	Lots	Shares	Amount
Retail (Min)	2	3,200	₹2,40,000
Retail (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

Listing performance

NSE/BSE: AMTECHESTERS

Listing gain

+33.33%

Gain per retail lot

₹80,000

Latest vs issue

—

GMP was

₹14 (+18.67%)

₹75

₹89+18.67%

₹100+33.33%

Issue price

GMP estimate

Listing price

Latest price appears here during market hours.

Amtech Esters Live GMP

GMP₹14

Est. Price₹89

Est. Gain18.67%

Latest GMP

₹14

All-time high

₹11

All-time low

₹7

GMP × retail lot ₹44,800GMP × S-HNI min ₹67,200Expected listing ~ ₹89GMP is unofficial and changes often. Data as of 11 Sept, 11:00 pm.

Subscription

11 Sept, 11:00 pm

Oversubscribed 25.76 times · 8,369 applications

QIB

15.07x

NII (HNI)

32.58x

S-HNI

28.77x

B-HNI

34.63x

Retail

28.93x

Total

25.76x

Total applications

8,369

Total bid amount

₹307 Cr

Category breakdown

Category	Shares offered	Shares bid	Times	Bid amount
QIB	4,52,800	68,22,400	15.07x	₹51.17 Cr
NII (HNI)	3,41,800	1,11,36,000	32.58x	₹83.52 Cr
B-HNI	2,27,200	78,67,200	34.63x	₹59 Cr
S-HNI	1,13,600	32,68,800	28.77x	₹24.52 Cr
Retail	7,93,600	2,29,56,800	28.93x	₹172 Cr
Total	15,88,200	4,09,15,200	25.76x	₹307 Cr

Application-wise breakup

Category	Applications reserved	Applied	Times
B-HNI	47	506	10.77x
Retail	248	7,174	28.93x

Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).

Financials

(₹ in crores)

Key performance indicators

As of 31 Mar 2026

ROE

24.17%

PAT Margin

10.28%

ROCE

30.16%

EBITDA Margin

18.41%

Debt to Equity Ratio

0.17

RoNW

24.17%

Valuation vs listed peers

EPS Pre IPO

₹6.55

EPS Post IPO

₹4.78

Buzz AI analysis

From this IPO's filings and market data · educational, not investment advice

Revenue growth FY24 → FY26

+49.6%

Profit growth FY24 → FY26

+48.6%

ROCE

30.16%

PAT margin 10.3% and ROCE 30.2%.

Strengths & risks

Diversified Portfolio with 49 UPR SKUs across multiple industries.
Integrated Offering of UPRs, pigments and complementary products.
Strong Capacity Utilisation at its manufacturing facilities.

6.5/10

Buzz score · Neutral

From GMP, subscription and issue size

Financials6.7

Growth6.0

Business6.4

Demand8.7

Risk7.2

Objects of the issue

Purpose	Amount (₹ Cr)
Investment in the subsidiary, namely Croda Pigments Private Limited, by way of debt: 1.Towards capital expenditure requirements of the subsidiary; 2.To meet the incremental working capital requirements of the subsidiary.	8.81
Repayment or prepayment, in full or in part, of certain borrowings availed by the Company.	4.2
Funding inorganic growth through unidentified acquisitions and general corporate purposes.	-

Company & documents

Amtech Esters Limited is a B2B chemical company engaged in manufacturing Unsaturated Polyester Resins (UPRs) and trading complementary products such as fibre resins, hardeners and silicones, serving customers across the resin and FRP value chain.

The Company offers 49 UPR SKUs catering to diverse applications across automotive, electrical, decorative, FRP, waterproofing and other industries.

The Company operates through its wholly owned subsidiary, Croda Pigments Private Limited (CPPL), which manufactures pigments for resin-based, industrial and household applications.

The Company has dedicated R&D and Quality Control departments focused on product performance, process improvement and quality consistency, supported by ISO 9001:2015 certification.

The Company operates manufacturing facilities in Bahadurgarh, Haryana. In FY2026, Amtech Esters recorded 2,195 MT production at 88.11% utilisation, while CPPL recorded 311.99 MT at 83.38% utilisation.

Overall, Amtech Esters has an integrated portfolio of UPRs, pigments and complementary resin-related products serving diverse industrial applications.

As of March 31, 2026, the Company had 60 employees on its payroll, comprising management, sales and marketing, production and other functions.

Registrar

Maashitla Securities Pvt.Ltd.

Phone: 011-45121795

Email: ipo@maashitla.com

Web: https://maashitla.com/allotment-status/public-issues

Company contact

Amtech Esters Limited

Flat No. 102, Plot No. A – 3 Magnum House 1, Commercial Complex Karam Pura, West Delhi, New Delhi West Delhi, New Delhi, 110015

Phone: 011-49044111

Email: info@amtechesters.com

Web: https://www.amtechesters.com/

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