FX Multitech IPO GMP today is Rs 6. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
FXML
FX Multitech IPO GMP & Allotment
FX Multitech Limited is an engineering product distribution company operating primarily in the heating, ventilation, air conditioning, and industrial refrigeration sector. The company procures its entire product range from third-party manufacturers, relying heavily on a single primary supplier for a major portion of its purchases, and distributes these products across key regional markets. Additionally, it provides technical support, product handling, and associated services through established logistics networks. FX Multitech holds a 51% controlling equity stake in Everestt Chillers Private Limited, an in-house manufacturing subsidiary based in Coimbatore, Tamil Nadu, that produces customized industrial chillers, glycol chillers, chilled-water air conditioners, and effluent chillers. Its revenue is primarily generated through product sales, distribution commissions, and technical service delivery within the industrial refrigeration and engineering components segment.
- IPO Price Band
- ₹110.00 - ₹116.00
- Lot Size
- 1,200 Shares
- Bidding Closes
- 23 Sept 2026
- Listing Date
- 28 Sept 2026
Quick Answer & Highlights
FX Multitech IPO GMP Today & Key Takeaways
Last updated: 26 Sept 2026
FX Multitech IPO officially listed on 28 Sept 2026 at Rs 123.05, delivering a +6.08% listing gain compared to its issue price of Rs 45.24. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹6.
FX Multitech IPO officially listed on 28 Sept 2026 at ₹123.05, delivering a +6.08% listing gain compared to its issue price of ₹45.24. Pre-listing, its final recorded Grey Market Premium (GMP) was ₹6.
| Key Metric | Figure | Status / Context |
|---|---|---|
| Current GMP | ₹6 | +5.17% vs upper band (26 Sept 2026) |
| Est. Listing Price | ₹123.05 | +6.08% Est. Listing Gain |
| Price Band | ₹110.00 - ₹116.00 | SME IPO |
| Retail Minimum Investment | ₹2,78,400 | 2 Lot (1,200 Shares) |
| Bidding Window | 21 Sept 2026 – 23 Sept 2026 | Listed |
| Allotment & Listing Dates | Allotment: 24 Sept 2026 | Listing: 28 Sept 2026 |
Current GMP Status
₹6
+5.17% vs upper band
Est. Listing Gain
+6.08%
Last Trend
26 Sept 2026
Listing Price
₹123.05
Retail Entry
₹2,78,400
IPO Details
Complete IPO information
| IPO Open Date | 21 Sept 2026 |
|---|---|
| IPO Close Date | 23 Sept 2026 |
| IPO Price Band | ₹110.00 - ₹116.00 |
| Lot Size | 1,200 Shares |
| Current GMP | ₹6 |
| Estimated Listing Gain | +6.08% |
| Issue Size | Approx ₹45.24 Cr |
| Fresh Issue | Approx ₹41.20 Cr |
| Issue Type | SME |
| IPO Listing | BSE SME |
| Retail Quota | TBA |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Overall Subscription | 16.54x |
| Minimum Investment | ₹2,78,400 |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 7.44 | 155.9 | 20.95xx |
| NII | 7.55 | 146.95 | 19.47xx |
| Retail | 12.98 | 159.84 | 12.31xx |
| Overall Subscription | 27.97 | 462.7 | 16.54xx |
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, FX Multitech is priced at ₹116 per share. With a minimum lot size of 1,200 shares, a retail investor applying for one lot would need approximately ₹2,78,400 to participate in this SME issue.
The latest recorded Grey Market Premium for FX Multitech stands at ₹6, implying an estimated listing gain of around 5.17% over the issue price if it holds until listing. This is up ₹2 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, FX Multitech's IPO was subscribed 16.54x overall, with a category-wise breakdown of Retail 12.31x, QIB 20.95x, NII 19.47x.
Among the strengths highlighted in FX Multitech's IPO documents: Key distributor partnerships with leading global HVAC equipment manufacturers.; Forward integration via 51% controlling stake in manufacturing subsidiary Everestt Chillers..
Investors should also weigh the risk factors FX Multitech has disclosed, including: High supplier concentration with over 70% of purchases from a single supplier..
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
21 Sept 2026
✓
Bidding Closes
23 Sept 2026
✓
Allotment
24 Sept 2026
✓
Listing
28 Sept 2026
| Event / Milestone | Scheduled Date | Status |
|---|---|---|
| Bidding Opens | 21 Sept 2026 | Completed |
| Bidding Closes | 23 Sept 2026 | Completed |
| Allotment | 24 Sept 2026 | Completed |
| Listing | 28 Sept 2026 | Completed |
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 26 Sept 2026 | ₹6.00 | +₹2.00 | 5.17% |
| 24 Sept 2026 | ₹4.00 | +₹4.00 | 3.45% |
| 23 Sept 2026 | ₹0.00 | - | 0.00% |
| 18 Sept 2026 | ₹0.00 | - | 0.00% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 2,400 | ₹2,78,400 |
| Retail Maximum | 2 Lot | 2,400 | ₹2,78,400 |
| S-HNI Minimum | 3 Lot | 3,600 | ₹4,17,600 |
| S-HNI Maximum | 7 Lot | 8,400 | ₹9,74,400 |
| B-HNI Minimum | 8 Lot | 9,600 | ₹11,13,600 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Issue Notes
Important takeaways before applying
Strengths
- Key distributor partnerships with leading global HVAC equipment manufacturers.
- Forward integration via 51% controlling stake in manufacturing subsidiary Everestt Chillers.
- Diverse range of HVAC and industrial refrigeration product offerings.
- Strong customer footprint across key industrial states in India.
- Experienced promoter and key managerial leadership in engineering distribution.
Risks
- High supplier concentration with over 70% of purchases from a single supplier.
- Absence of long-term contracts, relying primarily on spot purchase orders.
- Geographical concentration with major revenues coming from the top three states.
- Instances of past procedural lapses and delayed statutory corporate filings.
- Substantial working capital requirements alongside recent negative operating cash flows.
Analysis
FX Multitech IPO Reservation
The FX Multitech IPO reservation is divided across anchor investors, qualified institutional buyers, non-institutional investors and retail investors. The category-wise share allocation and percentage of shares offered are shown below.
| Investor Category | Share Offered | % Shares |
|---|---|---|
| Anchor Investor | 11,02,800 Shares | 28.28% |
| QIB (Ex. Anchor) | 7,44,000 Shares | 19.08% |
| NII Shares Offered | 5,58,000 Shares | 14.31% |
| Retail Shares Offered | 12,98,400 Shares | 33.29% |
Note: The reservation figures are based on the IPO information provided for FX Multitech.
Analysis
FX Multitech IPO Anchor Investors
FX Multitech IPO anchor investor details provide the key information on the anchor bidding date, shares reserved for anchor investors, and the applicable lock-in period. The anchor portion of 11,02,800 shares is scheduled for bidding on August 18, 2026.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 18, 2026 |
| Shares Offered | 11,02,800 Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date 50% Shares (90 Days) | 2026 |
Note: Anchor investor allocation and lock-in details are based on the supplied FX Multitech IPO information.
Analysis
FX Multitech IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 21 Sept 2026 |
| IPO Close Date | 23 Sept 2026 |
| Basis of Allotment | 24 Sept 2026 |
| Refunds | 25 Sept 2026 |
| Credit to Demat Account | 25 Sept 2026 |
| IPO Listing Date | 28 Sept 2026 |
Note: The timeline for FX Multitech IPO is tentative and subject to change.
Analysis
FX Multitech IPO Promoters and Holding Pattern
The promoters of FX Multitech are Subhash Agarwal, Selvaraj Rangaswamy, Anita Agarwal and Kanagalakshmi Selvaraj. The holding pattern below shows the shareholding of the promoter and promoter group before the IPO and the expected ownership structure after the issue.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 1,08,07,600 | 100% | 10,459,600 | 72.84% |
| Others* | – | -% | 3,900,000 | 27.16% |
| Total | 1,08,07,600 | 100% | 14,359,600 | 100% |
Note: The holding pattern is based on the supplied FX Multitech IPO shareholding data.
Analysis
FX Multitech Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Purpose | INR crores (%) |
| Repayment / pre-payment of borrowings | 10 (24.27%) |
| Investment in the subsidiary Everestt Chillers Pvt. Ltd. | 6.26 (15.19%) |
| Funding working capital requirements | 14.83 (35.99%) |
| General corporate purposes | 10.11 (24.55%) |
Note: Objectives are as specified in the DRHP/RHP documents of FX Multitech.
Analysis
FX Multitech About Ipo
Since its foundation in March 2008, FX Multitech has mainly sold and distributed various types of products used in HVAC (Heating, Ventilation, and Air Conditioning) and industrial refrigeration industries. The firm provides a wide range of engineering and refrigeration products, including compressors, refrigeration and air-conditioning controls, industrial refrigeration controls, variable frequency drives and automation products, specialized components and tools, heat exchangers, cold room evaporators, refrigerants and ancillary products.
FX Multitech sources its products from various global suppliers and has a diversified distribution network with its headquarters in Ahmedabad, Gujarat, and warehouses in Hyderabad, Thane, Kolkata and Bangalore. Moreover, the firm is also exporting its products, trying to expand its presence in international markets.
Analysis
FX Multitech Company Financials
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 68.74 Cr. | 63.12 Cr. | 4.18 Cr. | 32.66 Cr. |
| 2025 | 102.34 Cr. | 89.42 Cr. | 9.64 Cr. | 61.12 Cr. |
| 2026 | 111.90 Cr. | 96.41 Cr. | 11.54 Cr. | 73.05 Cr. |
Note: Financial numbers for FX Multitech are in ₹ Crores unless stated otherwise.
Analysis
FX Multitech Company Valuation – FY2026
| KPI | Values |
|---|---|
| ROE | 37.63% |
| ROCE | 28.93% |
| EBITDA Margin | 15.35% |
| PAT Margin | 9.60% |
| Debt to Equity Ratio | – |
| Earning Per Share (EPS) | 10.92 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 31.80% |
| Net Asset Value (NAV) | 35.22 |
Note: Valuation KPIs for FX Multitech are computed for FY2026.
Analysis
FX Multitech IPO Peer Group Comparison
To Be Updated Soon
Analysis
FX Multitech IPO Lead Managers aka Merchant Bankers
- Oneview Corporate Advisors Pvt. Ltd.
Comparison
Compare FX Multitech IPO with similar IPOs
FAQ
FX Multitech IPO FAQs
Based on the latest Grey Market Premium (GMP) of Rs 6 and an issue price of Rs 116, the estimated listing price for FX Multitech IPO is Rs 122.00 (approx 5.17% listing gain). Actual listing price is determined by market demand on the listing day.
FX Multitech IPO price band is Rs 110.00 to Rs 116.00. Check the latest issue price, lot size and GMP together before applying.
FX Multitech IPO open date is 21 Sept 2026, close date is 23 Sept 2026, and listing date is 28 Sept 2026.
FX Multitech IPO lot size is 1,200 shares. The minimum retail investment is Rs 2,78,400.
FX Multitech is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
FX Multitech IPO subscription status currently shows Retail 12.31x, QIB 20.95x, NII 19.47x, Overall 16.54x.
FX Multitech Limited is an engineering product distribution company operating primarily in the heating, ventilation, air conditioning, and industrial refrigeration sector. The company procures its entire product range from third-party manufacturers, relying heavily on a single primary supplier for a major portion of its purchases, and distributes these products across key regional markets. Additionally, it provides technical support, product handling, and associated services through established logistics networks. FX Multitech holds a 51% controlling equity stake in Everestt Chillers Private Limited, an in-house manufacturing subsidiary based in Coimbatore, Tamil Nadu, that produces customized industrial chillers, glycol chillers, chilled-water air conditioners, and effluent chillers. Its revenue is primarily generated through product sales, distribution commissions, and technical service delivery within the industrial refrigeration and engineering components segment.
FX Multitech IPO issue size is 45.24 and the expected allotment date is 24 Sept 2026.
In our empirical study of 117 Indian IPO listings, positive GMP was followed by a positive listing gain 69.8% of the time. However, as an exact forecast, the median variation between GMP-implied gain and actual listing price was 8 percentage points. GMP reflects informal market sentiment and should always be evaluated alongside company valuation and fundamentals.
Community discussion
Comments
Share a useful question or insight about FX Multitech.
Leave a comment
Your email address will not be published. All comments and replies are reviewed before appearing.
Keep Exploring
Similar Recent IPOs
SME
Vedant Poly Fabs
Price Band₹88.00 - ₹94.00
Current GMP₹1 · +1.1%
Lot Size1,200 Shares
SME
HGS (India)
Price Band₹114.00 - ₹120.00
Current GMP₹28 · +23.3%
Lot Size1,200 Shares
SME
Johnsoncab Electricals
Price Band₹190.00 - ₹200.00
Current GMP₹8 · +4.0%
Lot Size600 Shares
SME
Vectras Enprocon
Price Band₹99.00 - ₹105.00
Current GMP₹0
Lot Size1,200 Shares
Loading comments...