A total of 36,89,000 shares amounting to ₹47.96 Crore will be issued in the Apollo Techno Industries IPO. The company has set the nominal value of each IPO share at ₹10. The issue becomes available for bidding starting December 23, 2025. The bidding ends on December 26, 2025. The proposed allotment is on December 29, 2025. The listing is scheduled for December 31, 2025.
The IPO lot size stands at 1,000 shares, while the price band ranges from ₹123 to ₹130. The minimum application for retail investors is two lots comprising 2,000 shares, valued at ₹2,60,000. The S-HNI category starts at 3 lots with an investment of ₹3,90,000, while B-HNI applicants need a minimum of 8 lots, requiring ₹10,40,000.
Apollo Techno Industries IPO Details
Presented below are the important details of the IPO:
| Particulars | Details |
| Bidding Opens | December 23, 2025 |
| Bidding Closes | December 26, 2025 |
| Issue Type | Bookbuilding |
| Face value | ₹10 per share |
| Price Band | ₹123 to ₹130 |
| Issue price | |
| IPO Lot Size | 1,000 Shares |
| Fresh issue | 36,89,000 shares (₹47.96 Crore) |
| Offer for sale | |
| Total Issue Size | 36,89,000 shares (₹47.96 Crore) |
| Listing at | BSE SME |
| Minimum Investment | ₹2,60,000 |
Apollo Techno Industries IPO Timeline
The issue is planned as per the schedule given below:
| Particulars | Details |
| Bidding Opens | December 23, 2025 |
| Bidding Closes | December 26, 2025 |
| UPI mandate cut-off | 5 PM on December 26, 2025 |
| Allotment Expected | December 29, 2025 |
| Refund process starts | December 30, 2025 |
| Demat credit of shares | December 30, 2025 |
| Scheduled Listing | December 31, 2025 |
Apollo Techno Industries Key Performance Indicator
The Apollo Techno Industries’ key performance indicators (KPIs) are given below:
| KPIs | FY 2023 | FY 2024 | FY 2025 |
| ROE (%) | 11.96 | 32.68 | 74.75 |
| ROCE (%) | 3.76 | 12.29 | 30.98 |
| Debt Equity (times) | 5.36 | 3.74 | 1.25 |
| RoNW (%) | 10.92 | 27.93 | 54.45 |
| PAT Margin (%) | 1.24 | 4.66 | 13.84 |
| EBITDA margin (%) | 4.13 | 11.09 | 18.31 |
| Price Book Value |
Apollo Techno Industries Financials
Below is an overview of Apollo Techno Industries’ financial figures:
| Particulars (in ₹ lakh) | 2023 | 2024 | 2025 |
| Revenue | 7,256.54 | 6,928.18 | 9,966.22 |
| Total Asset | 6,509.03 | 6,703.35 | 7,625.26 |
| Profit | 89.63 | 323.06 | 1,378.84 |
Apollo Techno Industries IPO Subscription Status
The subscription status of the Apollo Techno Industries IPO is outlined below:
| Day | NII | Individual Investor | Total |
| Day 1 | |||
| Day 2 | |||
| Day 3 |
Apollo Techno Industries IPO Grey Market Premium Today
Apollo Techno Industries IPO is currently quoting at a GMP of ₹0, indicating limited activity in the grey market. The premium has remained unchanged over recent sessions, suggesting a neutral outlook ahead of listing. At this level, the estimated listing price is around ₹130, pointing to no expected listing gain at present.
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 18-12-2025 | ₹0 | ₹130 | 0% | – |
Note: The GMP figure is based on informal market activity and may change frequently depending on subscription levels, demand, and overall market mood.
Apollo Techno Industries IPO Reservation
The distribution of IPO shares across investor categories is as follows:
| Investor Category | Reservation |
| Market Maker Shares Offered | 1,85,000 (5.01%) |
| QIB Shares | 17,50,000 (47.44%) |
| NII (HNI) Shares | 5,26,000 (14.26%) |
| Retail Shares | 12,28,000 (33.29%) |
| Total Shares | 36,89,000 (100.00%) |
Lot Size of Apollo Techno Industries IPO
Applications can be made as per the lot sizes given below:
| Investor Type | Lots | Shares | Amount |
| Individual Investors – Retail (Minimum) | 2 | 2,000 | ₹2,60,000 |
| Individual Investors – Retail (Maximum) | 2 | 2,000 | ₹2,60,000 |
| S-HNI (Minimum) | 3 | 3,000 | ₹3,90,000 |
| S-HNI (Maximum) | 7 | 7,000 | ₹9,10,000 |
| B-HNI (Minimum) | 8 | 8,000 | ₹10,40,000 |
Apollo Techno Industries IPO Anchor Investors Details
The anchor investor information for the IPO is given below.
| Particulars | Details |
| Bidding Starts | December 22, 2025 |
| Offered Shares | 10,50,000 shares |
| Portion Size | 60% of the QIB Portion |
| Lock-in of 50% shares for 30 days | January 28, 2026 |
| Lock-in of the remaining shares for 90 days | March 29, 2026 |
Apollo Techno Industries IPO Prospectus
The following files provide additional details related to this IPO:
| Draft Red Herring Prospectus (DRHP) | |
| Red Herring Prospectus (RHP) | |
| Anchor Investors | – |
| Final Prospectus | Not Disclosed |
About Apollo Techno Industries
Apollo Techno Industries Limited was set up in 2016 and operates out of Mehsana, Gujarat. The business is guided by Parth Rashmikant Patel, who serves as Managing Director and is part of the promoter group along with Rashmikant Haribhai Patel and Manjulaben Rashmikant Patel.
The company works within the construction equipment manufacturing space, a segment that also includes Eimco Elecon (India) Limited. Its focus remains on drilling and foundation machinery, including Horizontal Directional Drilling rigs and rotary drilling equipment, commonly used in infrastructure projects. Beyond building machines, Apollo Techno supports customers through installation assistance, spare parts supply, refurbishment work, and technical support, keeping its involvement active throughout the equipment’s life cycle.
| Issue Registrar | MUFG Intime India Pvt.Ltd. |
| Lead Manager | Beeline Capital Advisors Pvt.Ltd. |
Objectives of the Apollo Techno Industries IPO
Funds raised through the issue will be applied toward the given objectives:
| S. No. | Particulars | Amount (in ₹ lakh) |
| 1 | Working capital needs | 3,850.00 |
| 2 | General corporate needs | – |
Strength Of Apollo Techno Industries
These core strengths support the company’s performance and help maintain its market presence.
1. Product Quality: The company places strong emphasis on product quality and consistency. Robust internal checks and skilled execution ensure that equipment meets customer expectations and reliability standards.
2. Customer Focus: A customer-centric approach has helped build lasting relationships. Understanding varied requirements supports repeat business and steady expansion across regions.
3. Experienced Leadership: The promoters and management team bring deep industry understanding and practical decision-making. Their direction supports steady execution and long-term planning.
4. In-House Design: Internal engineering and design capabilities allow product customisation and continuous improvement, helping the company respond to market needs.
5. Regional Reach: Operations and offices across key regions strengthen visibility, improve service access, and reduce dependence on any single market.
Risk of Apollo Techno Industries
These risk factors could affect the company’s operations and long-term stability.
1. Product Dependence
A meaningful share of revenue comes from a small product set. If demand softens or customer preferences shift, sales pace and margins could come under pressure.
2. Supplier Dependence
Working with a limited supplier base creates exposure to delays or quality issues. Any disruption in sourcing may affect production flow.
3. Cash Flow Volatility
Cash generation has not always been consistent. Operational setbacks could tighten liquidity and limit financial flexibility.
4. Manufacturing Dependence
Production is centred at a single facility. Unexpected interruptions may slow output and affect delivery commitments.
Apollo Techno Industries IPO Review
Apollo Techno Industries IPO offers an opportunity for investors looking at a specialised manufacturing business rather than a momentum-driven listing. The company has shown improving profitability and has built capabilities around in-house design and regional servicing. That said, reliance on a narrow product mix, supplier dependence, and uneven cash flows cannot be ignored. With the GMP staying flat, market interest appears measured, making this IPO more suitable for patient investors comfortable with a longer holding horizon.
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Apollo Techno Industries IPO FAQs
Apollo Techno Industries IPO is a book-built SME issue of ₹47.96 crore, consisting entirely of a fresh issue of 36,89,000 shares, and will be listed on the BSE SME platform.
Investors can apply through ASBA or UPI using their bank or trading app by selecting the IPO, entering bid details, and confirming the mandate before the cut-off time.
The IPO shows improving financial performance, but risks such as product and supplier dependence remain. It may suit investors with a cautious, long-term view.
With a flat GMP, there is currently no indication of listing gains. Returns will depend on post-listing performance.
The IPO opens for subscription on Tuesday, December 23, 2025, and closes on Friday, December 26, 2025.
The lot size is 1,000 shares. Retail investors must apply for a minimum of 2 lots (2,000 shares) amounting to ₹2,60,000 at the upper price band.
The allotment is expected to be finalised on Monday, December 29, 2025.
The IPO is tentatively scheduled to list on BSE SME on Wednesday, December 31, 2025.
