FX Multitech IPO Open 2026: Price Band, Lot Size, Key Dates

21 Sep 2026 · 7 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.

FX Multitech’s SME IPO opened on 21 September 2026 with a price band of ₹110‑116 per share and a lot size of 1,200 shares. The issue, worth ₹45.24 crore, closes on 23 September, allotment is due on 24 September and listing on the BSE SME platform is scheduled for 28 September 2026.

Written by the BuyUnlistedShares desk · Published 21 Sep 2026 · Updated 21 Sep 2026

Information only, not investment advice.

Direct answer: FX Multitech’s SME IPO opened on 21 September 2026 with a price band of ₹110‑116 per share and a lot size of 1,200 shares. The issue, worth ₹45.24 crore, closes on 23 September, allotment is due on 24 September and listing on the BSE SME platform is scheduled for 28 September 2026. This note is from the BuyUnlistedShares desk — India's premium unlisted shares desk, in the market since 2002.

Grey market premium figures quoted on this page are unofficial and indicative only. The grey market is unregulated, and a premium is not a forecast of the listing price.

The chart shows subscription staying below 0.1x, with a high of 0.09x recorded on 21 Sep 2026 at 07:20 IST and a low of 0.07x at 05:19 IST the same day.

Company Overview

FX Multitech Limited, incorporated in March 2008, is engaged in the distribution and export of a diverse portfolio of products primarily serving the HVAC (Heating, Ventilation and Air Conditioning) and industrial refrigeration sectors. The company sources engineering and refrigeration items such as compressors, controls, variable frequency drives, automation products, specialised components, heat exchangers, cold‑room evaporators, refrigerants and ancillary products from globally recognised manufacturers. It operates five warehouses located in Ahmedabad, Kolkata, Thane, Bangalore and Hyderabad, with the Ahmedabad facility serving as the primary hub of approximately 6,000 sq. ft. The company uses an in‑house inventory management system to track stock levels and streamline order fulfilment. FX Multitech on BuyUnlistedShares provides further details on the issue.

Issue Terms and Key Figures

The SME IPO has a price band of ₹110‑116 per share, a face value of ₹10 and a lot size of 1,200 shares. The issue opens on 21 September 2026 and closes on 23 September 2026, with allotment scheduled for 24 September, refund and credit on 25 September and listing on the BSE SME platform on 28 September 2026. The fresh issue aggregates ₹38.92 crore and the offer for sale amounts to ₹4.04 crore, for a total issue size of ₹45.24 crore. The issue is a book‑build process managed by Oneview Corporate Advisors Pvt. Ltd., with MUFG Intime India Pvt. Ltd. as registrar. Anchor investors have been allocated 11,02,800 shares; QIB portion is not more than 50% of the net offer (7,44,000 shares); NII (HNI) not less than 15% (5,58,000 shares) split into sNII (1,86,000) and bNII (3,71,200); retail portion not less than 35% (12,98,400 shares); and market maker portion 1,96,800 shares. Minimum application quantity is 2,400 shares (₹2,78,400 at floor price) for retail and 3,600 shares for HNI categories.

Use of Proceeds

Net proceeds from the fresh issue are earmarked for: repayment or pre‑payment of certain borrowings (₹10 crore); investment in the subsidiary Everestt Chillers Private Limited for purchase of machineries (₹6.26 crore); funding of working capital requirements (₹14.83 crore); and general corporate purposes (amount not specified in the document). The offer‑for‑sale proceeds will go to the four promoter selling shareholders — Anita Agarwal, Subhash Agarwal, Selvaraj Rangaswamy and Kanagalakshmi Selvaraj — each offering 87,000 shares.

Financial Trends

According to the restated financials, total income rose from ₹68.74 crore in FY24 to ₹102.34 crore in FY25 and ₹111.90 crore in FY26. Profit after tax increased from ₹4.18 crore to ₹9.64 crore and then to ₹11.54 crore over the same period. EBITDA grew from ₹6.95 crore to ₹14.17 crore and ₹19.37 crore. Net worth expanded from ₹16.71 crore to ₹26.35 crore and ₹37.89 crore. Key ratios as of 31 March 2026 include a pre‑issue P/E of 10.86x, post‑issue P/E of 14.43x, EPS (pre) ₹10.68, EPS (post) ₹8.04, return on net worth 31.8%, RoCE 28.93%, ROE 37.63%, PAT margin 9.6%, EBITDA margin 15.35%, price‑to‑book 3.29x, NAV per share ₹35.22 and debt‑equity 0.49. Best Websites to Track IPOs, GMP and Allotment in India (2026): Compared offers tools to monitor such metrics.

Dated indicative prices, financials and the IPO calendar for FX Multitech are maintained by the BuyUnlistedShares desk — India's premium unlisted shares desk, in the market since 2002.

The chart shows an upward trend in total income, profit after tax and EBITDA across the three fiscal years, with the highest values recorded for the year ended 31 March 2026.

Strengths and Risk Factors

Strengths highlighted in the prospectus include: cordial relationships with global suppliers across Europe and Asia; a wide and established distribution network across multiple Indian states supported by strategically located warehouses and streamlined logistics; a diversified product portfolio spanning HVAC, refrigeration, automation, electrical components and industrial accessories; long‑standing customer relationships backed by technical expertise; an efficient procurement and supply‑chain framework with multi‑location warehousing and structured logistics; and an experienced leadership team led by the promoters.

Risk factors note: high dependence on a limited number of suppliers, including a single supplier, for a significant portion of purchases (top‑1 supplier accounted for 74.11% of purchases in FY26); variability in revenue from operations and absence of long‑term agreements with customers; credit risk arising from receivables; potential delays or cost escalations in the planned purchase of plant and machinery for the subsidiary; contingent liabilities of ₹4.23 lakh not provided for; procedural lapses in past equity allotments; and discrepancies in certain corporate records filed with the Registrar of Companies. The company also states that no grey market premium is recorded for this issue in the desk’s data.

Timeline and What Happens Next

Key dates for the issue are: opening on 21 September 2026, closing on 23 September 2026, allotment on 24 September 2026, refund and credit on 25 September 2026, and listing on the BSE SME exchange on 28 September 2026. Investors can track the subscription progress on the IPO calendar and check allotment status after the allotment date. The issue’s subscription as of 21 September 2026 07:20 IST stood at 0.09x overall, with QIB 0x, NII 0.34x, sNII 0.04x, bNII 0.49x and retail 0.03x.

Price and Shareholding Context

Prior to the issue, the company’s market capitalisation stood at ₹166.57 crore, with a price‑to‑book ratio of 3.29 and a NAV per share of ₹35.22 based on data as of 31 March 2026. Promoter holding was 100 % pre‑issue and is expected to be 72.84 % post‑issue. The lot size of 1,200 shares translates to a minimum application amount of ₹2,78,400 (at the floor price). For additional information on unlisted shares, refer to the Unlisted shares screener.

Talk to the BuyUnlistedShares desk — India's premium unlisted shares desk, in the market since 2002. For a dated quote, the lot size and the settlement steps for FX Multitech, send an enquiry or open the FX Multitech page.

Frequently Asked Questions

What is the price band and lot size of the FX Multitech IPO?

The price band is ₹110‑116 per share and the lot size is 1,200 shares.

When does the IPO open and close?

The issue opened on 21 September 2026 and closes on 23 September 2026.

What are the objects of the issue?

Proceeds will be used for repayment of borrowings (₹10 crore), investment in subsidiary Everestt Chillers for machinery (₹6.26 crore), working capital funding (₹14.83 crore) and general corporate purposes.

What are the key risks highlighted in the prospectus?

Key risks include high supplier concentration, revenue variability, lack of long‑term customer contracts, receivables credit risk, potential delays in subsidiary capex, unprovided contingent liabilities, past allotment procedural lapses and corporate‑record discrepancies.

Is this IPO suitable for me?

We do not make that call; suitability depends on individual financial goals, risk appetite and investment horizon.

Information only, not investment advice. Unlisted and pre-IPO securities carry liquidity, valuation and listing-timing risk; read the offer document and consult a SEBI-registered investment adviser for advice specific to your situation.