VMPL
Ahmedabad (Gujarat) [India], September 18: FX Multitech Limited, a distributor and exporter of engineering products catering primarily to the HVAC and Industrial Refrigeration industries, has announced the opening of its Initial Public Offering (IPO). The Anchor Investor bidding is scheduled for Friday, September 18, 2026, followed by the Issue opening on Monday, September 21, 2026, and closing on Wednesday, September 23, 2026. The Company’s Equity Shares are proposed to be listed on the SME Platform of BSE Limited (BSE SME).
IPO Details
* Issue Type: Fresh Offer + Offer for Sale
* Total Issue Size: Up to 39,00,000 Equity Shares
* Fresh Offer: Up to 35,52,000 Equity Shares
* Offer for Sale: Up to 3,48,000 Equity Shares
* Face Value: ₹10 per Equity Share
* Price Band: ₹110 - ₹116
* Lot size: 1200 Equity Shares ( Retail: 2 Lots)
* Listing Platform: BSE SME
Objects of the Issue
The net proceeds from the IPO are proposed to be utilized for:
* Repayment / Pre-payment of Borrowings: ₹1,000.00 Lakhs
* Investment in Subsidiary – Everestt Chillers Private Limited for purchase of machinery: ₹625.78 Lakhs
* Funding of Working Capital Requirements: ₹1,483.00 Lakhs
* General Corporate Purposes: To be finalised based on the Offer Price, subject to applicable limits
Share Allocation
* Total Offer: Up to 39,00,000 Equity Shares
* Market Maker Reservation: Up to 1,96,800 Equity Shares
* Anchor Investor Portion: Up to 11,02,800 Equity Shares
* Net QIB Portion: 7,44,000 Equity Shares, assuming the Anchor Investor Portion is fully subscribed
* Non-Institutional Investors: Not less than 5,58,000 Equity Shares
* Individual Investors: Not less than 12,98,400 Equity Shares
IPO Timeline
* Anchor Investor Bidding Date: Friday, September 18, 2026
* Issue Opens: Monday, September 21, 2026
* Issue Closes: Wednesday, September 23, 2026
Issue Intermediaries
* Book Running Lead Manager: Oneview Corporate Advisors Private Limited
* Registrar to the Issue: MUFG Intime India Private Limited
* Market Maker: Basan Equity Broking Limited
Management Commentary
Mr. Subhash Agarwal, Chairman & Managing Director, FX Multitech Limited, said:
“We are focused on expanding our presence across the HVAC and Industrial Refrigeration value chain by strengthening our product portfolio, distribution network and engineering capabilities. Our investment in Everestt Chillers Private Limited has further expanded our capabilities in customised industrial chiller solutions. The proposed utilisation of IPO proceeds towards debt repayment, investment in machinery and working capital is intended to support our operational requirements and future growth plans.”
About FX Multitech Limited
Founded in 2008, FX Multitech Limited has evolved from a conventional distribution business into an integrated HVAC and industrial refrigeration solutions platform with capabilities across distribution, technical services, manufacturing participation and exports, enabling the company to deliver end-to-end industrial cooling solutions beyond a traditional product reseller model.
With a pan-India warehousing network across Hyderabad, Thane, Kolkata and Bangalore, along with a growing export presence, FX Multitech is strategically positioned to benefit from scalability, stronger customer stickiness and margin expansion opportunities within the rapidly growing HVAC and industrial refrigeration industry.
51% stake in ECPL, FX Multitech has strengthened its access to manufacturing capabilities, enhancing product customization, execution efficiency and overall value-chain control.
Specializes in heavy-duty industrial chiller plants for high-heat environments. The Company sources and assembles high-specification components through strategic partnerships with leading global OEMs, and has strategically expanded its in-house manufacturing capabilities under its own umbrella.
Disclaimer
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
FX Multitech Limited Announces Opening of Initial Public Offering (IPO) on 21st September 2026
