Summary
The Amtech Esters IPO is an SME book-build IPO, scheduled to open on 9 September 2026 and close on 11 September 2026.
The price band is fixed at ₹71 to ₹75 per share, with a minimum application of 2 lots (3,200 shares).
The company plans to list its shares on the BSE, with tentative listing scheduled for 17 September 2026.
The Amtech Esters IPO is an SME book-building issue that will open for subscription on 9 September 2026 and close on 11 September 2026. The company is offering 23,84,000 fresh equity shares to raise funds for its business requirements and strategic plans. With a price band of ₹71 to ₹75 per share, the IPO will be listed on the BSE SME platform. Investors can consider the company’s financial performance, business operations, growth plans and associated risks before making an investment decision.Â
Amtech Esters IPO Key Details
The table below presents the essential details investors should know before applying for the Amtech Esters IPO.
| IPO Open Date | 9 September 2026 |
| Close Date | 11 September 2026 |
| Face value | ₹10 per share |
| Price Band | ₹71 to ₹75 per share |
| IPO Lot Size | 1,600 shares |
| Fresh issue | 23,84,000 shares |
| Offer for Sale | _ |
| Type of issue | Book-building SME |
| Listing at | BSE SME |
| Total Issue Size (₹ Crore) | ₹17.88 crore (23,84,000 shares at ₹75 per share) |
| Minimum Investment | 2 lots (3,200 shares) |
Amtech Esters IPO Timeline
Below is the complete schedule of events for the Amtech Esters IPO.
| Bid Opening | 9 September 2026 |
| Bid Closing | 11 September 2026 |
| Tentative Allotment | 15 September 2026 |
| Initiation of Refunds | 16 September 2026 |
| Credit of Shares to Demat | 16 September 2026 |
| Tentative Listing Date | 17 September 2026 |
| UPI mandate closing date | 11 September 2026 |
Key Performance Indicators of Amtech Esters IPO
These financial ratios highlight the company’s profitability, capital efficiency, and overall financial performance over the past three financial years.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (%)Â | 24.17 | 27.58 | 27.94 |
| ROCE (%) | 30.16 | 35.10 | 30.77 |
| Debt Equity (in times) | 0.17 | 0.26 | 0.39 |
| RoNW (%) | 24.17 | 27.58 | 27.94 |
| PAT Margin (%) | 10.38 | 10.09 | 11.53 |
| EBITDA margin (%) | 18.41 | 17.63 | 6.69 |
| Price to book |
Amtech Esters IPO Financial Details
The Financial information of the Amtech Esters IPO is as follows.
| FY 2025-2026 | FY 2024-2025 | FY 2023-2024 | |
| Revenue | 4,067.12 | 3,688.69 | 2,460.37 |
| Total Asset | 3,446.69 | 2,785.87 | 2,478.83 |
| Profit | 422.28 | 372.22 | 283.71 |
Amtech Esters IPO Subscription Status
| Date | QIB (Ex Anchor) | NII* | Individual Investors | Total |
|---|---|---|---|---|
| Sep 9 (Day 1) | 1.00 | 2.14 | 0.79 | 1.14 |
| Sep 10 (Day 2) | 1.00 | 2.34 | 2.08 | 1.83 |
Amtech Esters IPO Grey Market Premium (GMP)
The current status of the Grey Market Premium for the Amtech Esters IPO shows a GMP of ₹5 with an estimated listing price of ₹80.
| GMP Date | GMP | Est. Listing Price (cap price + GMP) | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 10-09-2026 | ₹11 ─ | ₹86 (14.67%) | ₹17,600 | 10-Sep-2026 11:28 |
| 09-09-2026 Open | ₹11 ▲ | ₹86 (14.67%) | ₹17,600 | 9-Sep-2026 23:30 |
| 08-09-2026 | ₹7 ─ | ₹82 (9.33%) | ₹11,200 | 8-Sep-2026 23:37 |
| 07-09-2026 | ₹7 ▲ | ₹82 (9.33%) | ₹11,200 | 7-Sep-2026 23:36 |
| 06-09-2026 | ₹5 ─ | ₹80 (6.67%) | ₹8,000 | 6-Sep-2026 23:29 |
| 05-09-2026 | ₹5 ─ | ₹80 (6.67%) | ₹8,000 | 5-Sep-2026 23:31 |
| 04-09-2026 | ₹5 ▲ | ₹80 (6.67%) | ₹8,000 | 4-Sep-2026 23:35 |
| 03-09-2026 | ₹0 ─ | ₹75 (0.00%) | ₹0 | 3-Sep-2026 23:33 |
| 02-09-2026 | ₹0 ─ | ₹ (%) | 2-Sep-2026 10:00 |
GMP is the premium value of the IPO share in the unofficial market before it opens for subscription.
Amtech Esters IPO Reservation
The following table shows the distribution of shares reserved for retail investors, QIBs, and NIIs under the IPO.
| Investor Category | Offered No. of Shares | Net issue (%) | Total issue(%) |
| Market maker | 1,20,000 | 5.03 | |
| QIBs | 11,29,600 | 49.89 | 47.38 |
| NIIs | 3,40,800 | 15.05 | 14.30 |
| Retails | 7,93,600 | 35.05 | 33.29 |
| Total | 23,84,000 | 100% | 100% |
Amtech Esters IPO Lot Sizes
Refer to the minimum and maximum investment requirements for each investor category as per the prescribed lot size.
| Application | Lot | Shares | Amount in ₹ Lakhs |
| Individual Investor IND (Min) | 2 | 3,200 | 2,40,000 |
| Individual Investor 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 |
Amtech Esters IPO Prospectus
Investors can access the offered prospectus for the Amtech Esters IPO mentioned below.
About Amtech Esters Ltd.
Amtech Esters Limited was incorporated in May 2002 and was converted from a private limited company into a public limited company in December 2023. The company operates in the B2B chemicals business and mainly manufactures Unsaturated Polyester Resins (UPRs), while also trading in complementary products such as fibre resins, hardeners, ancillary products and silicone-based products. It has also expanded into the manufacturing of pigments. Its manufacturing facilities are located in Haryana, while its registered office is in New Delhi. The company serves customers across several applications, including automotive components, FRP products, waterproofing, electrical products and decorative items.
Promoters:
- Ajit Singh Bawa
- Gurpreet Kaur Bawa
- Meenakshi SharmaÂ
| Book Runner | Credora Partners Pvt. Ltd. |
| Issue Registrar | Maashitla Securities Pvt. Ltd. |
Purpose of Amtech Esters IPO
The company intends to deploy the funds raised through this public issue toward specific operational and strategic goals, as detailed in the table below.
| Particulars | Est. Amount in ₹ Lakhs |
| For repayment of outstanding borrowings | 397.74 |
| For investment in subsidiary company, Croda Pigments Pvt. Ltd., for capital expenditure and working capital requirements | 881.42 |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes | _ |
| Total | _ |
Amtech Esters Ltd.- Strengths and benefits
- Focus on quality and product development: Amtech Esters has ISO 9001:2015 certification and maintains dedicated research, development and quality-control functions to support product consistency and improve formulations.Â
- Diversified product portfolio: The company offers Unsaturated Polyesters Resins (UPRs) along with complementary products such as fibre resins, hardeners, silicones and pigments. This allows it to serve customers across different industrial applications and provide a wider range of products.Â
Amtech Esters Ltd- Risks and limitations
- High dependence on UPRs: Unsaturated Polyester Resins contributed about 62.84%, 61.57%, and 60.79% of revenue from operations in FY26, FY25, and FY24, respectively. Any fall in demand, pricing pressure or disruption in raw material availability could affect the business.Â
- Manpower-related risk: The business depends on experienced employees across manufacturing, quality control, procurement, sales and logistics. Higher employee attrition could affect operational efficiency.Â
- Dependence on manufacturing operations: Manufacturing generated around 89.78% of revenue in FY26. Therefore, a slowdown or shutdown of its manufacturing facilities could have a significant impact on business performance.Â
Amtech Esters IPO Review
The Amtech Esters IPO is a BSE SME book-building issue through which the company is issuing up to 23.84 lakh fresh equity shares. The IPO is priced in the range of ₹71 to ₹75 per share and is scheduled to open from 9 September to 11 September 2026. The funds raised will mainly be used to repay outstanding borrowings and invest in its subsidiary, Croda Pigments Pvt. Ltd., for capital expenditure and working capital requirements. The latest GMP mentioned in the available table is ₹5, indicating an estimated listing price of ₹80 based on the upper IPO price of ₹75, although GMP is unofficial and can change quickly.
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Amtech Esters IPO FAQs
The Amtech Esters IPO is an SME public issue through which the company plans to raise funds by issuing fresh equity shares.
Investors can apply through their broker or bank using the ASBA process and supported online IPO application platforms.
The suitability of the IPO depends on an investor’s financial goals and risk appetite. Investors should consider the company’s financial performance, strengths, risks and valuation before applying.
The IPO will open for subscription on 9 September 2026 and close on 11 September 2026.
The IPO lot size is 1,600 shares. The minimum application mentioned in the draft is 2 lots, or 3,200 shares.
The tentative allotment date of the Amtech Esters IPO is 15 September 2026.
The tentative listing date for the Amtech Esters IPO is 17 September 2026 on the BSE SME platform
