FX MULTITECH LIMITED IPO
Closed21–23 Sep 2026
Latest update:
Subscribed 17.79× (QIB 20.9× · NII 26.3× · Retail 12.3×) · Price band ₹110–₹116 · Closed 23 Sep 2026 · Allotment 24 Sep 2026 (Confirmed) · Lists 28 Sep 2026 (Expected)
What FX MULTITECH LIMITED does
FX Multitech Limited is engaged in the distribution and export of a diverse portfolio of products, primarily catering to the HVAC (Heating, Ventilation, and Air Conditioning) and Industrial Refrigeration Industry. Over the years, the Company has positioned itself as a reliable partner for industrial and commercial customers by offering technologically advanced products that meet the diverse requirements across the refrigeration and HVAC value chain.
FX MULTITECH LIMITED financials
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| 2023-24 | 2024-25 | 2025-26 | ||
|---|---|---|---|---|
| Sales | 69 | 102 | 126 | |
| Operating Profit | 7 | 14 | 19 | |
| OPM % | 10.2% | 13.9% | 15.3% | |
| Net Profit | 4 | 10 | 12 | |
| Total Debt | 11 | 22 | 26 |
FX MULTITECH LIMITED IPO offer structure
Total: ₹45 cr. Fresh issue proceeds go to the company; OFS proceeds go to selling shareholders.
Issue size and split come from a public aggregator rather than the exchange, cross-checked against a second one. The offer document states the offer-for-sale as a share count against a blank amount, so it cannot be read from the document itself.
Use of proceeds- 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 cr
- Funding of working capital requirements: ₹15 cr
- General corporate purposes
FX MULTITECH LIMITED promoters and holding
- Mr. Subhash Agarwal: Chairman & Managing Director
- Mr. Selvaraj Rangaswamy: Whole Time Director
- Mrs. Anita Agarwal: Promoter
- Mrs. Kanagalakshmi Selvaraj: Non-Executive Director
FX MULTITECH LIMITED strengths and risks
Company-stated strengths and disclosed risk factors from the offer document.
- Integrated full-stack delivery & engineering depth combining OEM manufacturing, global component distribution, and turnkey execution. (p.147)
- Efficiency & sustainability differentiation with BTE and advanced chillers achieving 25-45% energy savings. (p.147)
- Dual-market orientation & recurring revenues with domestic import-substitution focus and multi-year AMC contracts. (p.147)
- Sectoral diversification serving cold-chain, pharma, F&B, chemicals, plastics, and commercial HVAC. (p.147)
- Our Company is highly dependent on a single supplier for a significant portion of its purchases, and any disruption in this relationship could adversely affect our business. (p.30)
- Our revenue from operations has varied in recent periods, and we may be unable to sustain or manage our growth. (p.31)
- We do not have any long-term agreements with any of our customers. (p.32)
- Our inability to collect receivables from our customers, or any default in payment by them, could adversely affect our profitability. (p.32)
- Any delays or cost escalations in the proposed purchase of plant and machinery for our subsidiary could affect the implementation schedule. (p.32)
FX MULTITECH LIMITED market and competition
India’s HVAC & Industrial Refrigeration industry is fragmented but consolidating, comprising multinational OEMs, large Indian manufacturers, regional assemblers, and specialist component providers.
FX MULTITECH LIMITED outlook, as the document states it
The HVAC and Industrial Refrigeration industries are undergoing structural expansion, driven by rapid urbanization, climate imperatives, and rising demand for energy-efficient infrastructure. Over the next decade, emphasis on energy-efficient designs, ESG compliance, digital integration, and traceability systems will ensure reliability and sustainability across the value chain.
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FX MULTITECH LIMITED IPO: common questions
When does the FX MULTITECH LIMITED IPO open and close?
The FX MULTITECH LIMITED IPO is open from 21 Sep 2026 to 23 Sep 2026.
What is the FX MULTITECH LIMITED IPO price band?
The price band is ₹110–₹116 per share.
What is the lot size and minimum investment for the FX MULTITECH LIMITED IPO?
One lot is 1200 shares, and a retail application must be at least one lot. That is about ₹2,78,400 at the upper end of the band. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
How much is the FX MULTITECH LIMITED IPO subscribed?
As of 24 Sep 2026 the total subscription is 17.79×.
When are the FX MULTITECH LIMITED IPO allotment and listing dates?
Allotment is on 24 Sep 2026, as published. The listing date follows once the exchange confirms it.
How do I check the FX MULTITECH LIMITED IPO allotment status?
On the allotment status page published by MUFG Intime India, this issue's registrar, and on the exchange's basis of allotment. Those are the primary sources. If the issue was oversubscribed, retail allotment was decided by lottery, so a valid application does not mean shares. We do not hold allotment data and cannot look yours up. How allotment is actually decided →
Sources & method
Subscription and issue data come from the NSE and BSE exchange feeds, with the third-party aggregator, clearly labelled, where an exchange feed is unreachable. DRHP analysis is extracted from the offer document itself, every figure cited to its page. Each figure on the page carries its source and its timestamp.
Grey-market premium (GMP) is unregulated.
Every GMP figure is a self-reported grey-market estimate. No exchange, regulator or clearing body records or audits it, and there is no settlement guarantee or recourse. Shown for context only; never decide on GMP alone. New to GMP? The 30-second explainer → Has GMP actually been right? →
How often do these actually open above the issue price?
Of the 709 SME IPOs that have listed on the NSE since 2016, 561 (79%) opened above their issue price, at a median of +11%. That is the segment's own record, not a forecast for this issue.
FX MULTITECH LIMITED IPO allotment status
Allotment is on 24 Sep 2026, as published. Allotment is decided and published by the registrar, not by us. This issue's registrar is MUFG Intime India.
Check your allotment on the registrar's own page ↗
We do not hold allotment data and cannot look yours up. If the issue was oversubscribed, retail allotment was decided by lottery, so a valid application does not mean shares. How allotment is actually decided →