Autofurnish Limited has officially announced the launch of its SME Initial Public Offering (IPO), which is scheduled to open for public subscription on May 21, 2026, and close on May 25, 2026. The company plans to raise approximately ₹14.60 crore through a completely fresh issue of 35.61 lakh equity shares. The shares are proposed to be listed on the BSE SME platform, with the tentative listing date fixed for May 29, 2026.
The IPO is a fixed-price issue with shares being offered at ₹41 per equity share. Retail investors will be required to apply for a minimum lot size of 3,000 shares, resulting in a minimum investment requirement of around ₹1.23 lakh. Market experts noted that the IPO falls within the affordable SME category compared to several other SME issues currently open in the market.
Founded in 2015, Autofurnish Limited operates in the automobile accessories and auto ancillaries segment. The company manufactures and supplies a wide range of automotive products including car body covers, floor mats, seat covers, steering covers, neck pillows, car organizers, and other vehicle comfort accessories. The company markets its products under brands such as “Autofurnish” and “Mototrance.”
According to market reports, Autofurnish has built a dual-channel business model that includes both B2B distribution and direct-to-consumer (D2C) sales through e-commerce platforms. The company reportedly sells products through major online marketplaces including Amazon and Flipkart, while also supplying through dealer and distributor networks across India. Analysts believe the growth of India’s online automobile accessories market has created significant expansion opportunities for organized accessory brands.
The company has also strengthened its operations through acquisitions and restructuring initiatives. In recent years, Autofurnish acquired businesses including Golden Mace and consolidated its ventures under a unified corporate structure. Industry observers noted that the company has focused heavily on manufacturing quality and compliance standards, obtaining certifications such as ISO 9001:2015, IATF 16949:2016, ISO 14001, and Good Manufacturing Practice certifications.
Financially, the company has reported steady growth over the last few years. As per available financial disclosures, Autofurnish posted revenue of approximately ₹17.43 crore in FY2024 compared to ₹10.60 crore in FY2023. Profit after tax also increased significantly to around ₹1.62 crore during the same period. Market experts believe the company’s improving financial performance and growing brand visibility have contributed to rising investor interest ahead of the IPO launch.
According to the company’s IPO documents, the proceeds from the fresh issue will primarily be used for purchase and installation of machinery, funding working capital requirements, and supporting general corporate purposes. Analysts stated that capacity expansion and manufacturing modernization may help the company improve operational efficiency and product diversification in the future.
Grey market sentiment around the IPO currently remains cautious. Latest market tracking reports indicate that the Grey Market Premium (GMP) is hovering near neutral levels ahead of subscription opening, suggesting that investors are closely monitoring subscription demand before taking aggressive positions. Market experts noted that SME IPO GMP trends can change rapidly once retail participation increases during the bidding period.
Industry analysts believe the company may benefit from long-term growth trends in India’s automobile and auto accessories sector. Rising vehicle ownership, increasing consumer preference for aftermarket customization products, and rapid growth in automotive e-commerce are expected to support the organized auto accessories market in coming years.
At the same time, experts have highlighted several business risks associated with the IPO. Intense competition from unorganized local manufacturers, fluctuations in raw material costs, dependence on e-commerce platforms, and changing automobile consumer trends remain important factors investors may monitor after listing. SME IPOs are also generally considered relatively high-risk because of lower liquidity and higher volatility compared to mainboard public issues.
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