Overview
Updated 12 days agoFX Multitech Limited is an Ahmedabad-based company engaged in the distribution and export of HVAC and industrial refrigeration products. The company is launching an IPO of up to 39,00,000 equity shares, comprising a fresh issue of 35,52,000 shares and an offer for sale of 3,48,000 shares.
The red bar is the price band. GMP-implied price is an unofficial grey-market number, not a forecast.
How much to apply
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,39,200 |
| bNII (min) | 8 | 9,600 | ₹11,13,600 |
At the upper band. The amount is blocked in your bank account through UPI, not paid, until allotment.
Final subscription
As of 31 Oct, 16:42 ISTTimes the shares on offer were bid for, by investor category. Above 1x means the category is fully booked.
Listing performance
Latest price updated 2 hr ago.
Issue details
| Status | Listed |
| Exchange | BSE |
| Segment | SME |
| Sector | Air Conditioners |
| Price band | ₹110–116 |
| Final issue price | ₹116.00 |
| Face value | ₹10 per share |
| Lot size | 1,200 shares |
| Minimum investment | ₹1,39,200 |
| Issue size | ₹45.00 Cr |
| P/E at upper band | 10.6x |
| Registrar | MUFG Intime India Private Limited |
| Lead managers | Oneview Corporate Advisors Private Limited |
| NSE symbol | FXML |
| ISIN | INE1D0M01019 |
Shareholder quota and promoter holding
Company & business
Incorporated in 2008, FX Multitech Limited is a distributor and exporter of a diverse portfolio of engineering products, primarily catering to the HVAC and industrial refrigeration industry. The company sources products from global manufacturers and supplies them to industrial and commercial customers. Its product range includes compressors, refrigeration and air-conditioning controls, industrial refrigeration controls, variable frequency drives, specialized components, heat exchangers, and refrigerants. The company operates through a network of warehouses across India and has a subsidiary, Everestt Chillers Private Limited, which is engaged in the manufacturing of customized industrial chillers.
Objects of the issue — how the money will be used
- Repayment/pre-payment, in full or part, of certain borrowings availed by our Company (₹10 Cr)
- Investment in our subsidiary namely Everestt Chillers Private Limited for purchase of machineries (₹6.26 Cr)
- Funding of working capital requirement (₹14.83 Cr)
- General corporate purposes
Key strengths
- Established distribution network across multiple states in India
- Diversified product portfolio spanning HVAC, refrigeration, and automation
- Long-standing relationships with global suppliers
- Technical expertise and after-sales service support
- Experienced management team
Key risks
- High dependence on a single supplier for a significant portion of purchases
- No long-term agreements with customers
- Geographical concentration of business in certain states
- Inability to collect receivables from customers
- Contingent liabilities not provided for in financials
- Procedural lapses in past equity share allotments and regulatory filings
- Lack of registered intellectual property rights
Promoters
Subhash Agarwal, Selvaraj Rangaswamy, Anita Agarwal, Kanagalakshmi Selvaraj
Decoded from the RHP with AI on 01-Nov-2026. Check the offer document before you apply.
Financials (restated, ₹ crore)
| Period | Revenue | Expenses | Profit after tax | Assets | Net worth | Borrowings |
|---|---|---|---|---|---|---|
| FY24 | 68.52 | -- | 4.18 | 32.66 | 16.71 | 11.24 |
| FY25 | 102.01 | -- | 9.55 | 69.27 | 26.26 | 21.90 |
| FY26 | 126.14 | -- | 11.80 | 85.88 | 38.06 | 26.11 |
Key performance indicators · FY26
Documents and resources
Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.