IPO Announcement

FX Multitech Limited, a distributor and exporter of engineering products serving the HVAC and industrial refrigeration sectors, announced the opening of its Initial Public Offering (IPO) on 21 September 2026. The anchor‑investor bidding is scheduled for 18 September 2026, with the issue opening on 21 September and closing on 23 September 2026. The equity shares will be listed on the SME platform of BSE Limited (BSE SME).

Issue Details

The issue comprises a fresh offer of up to 3,552,000 equity shares and an offer‑for‑sale of up to 348,000 equity shares, bringing the total issue size to a maximum of 3,900,000 equity shares. Each share has a face value of ₹10. The price band is set between ₹110 and ₹116 per share, and the lot size is 1,200 shares (retail investors must apply for a minimum of two lots).

Use of Proceeds

The net proceeds, estimated at approximately ₹3,108.78 Lakhs, are earmarked for three primary purposes: repayment or pre‑payment of borrowings amounting to ₹1,000.00 Lakhs; investment in the subsidiary Everestt Chillers Private Limited for the purchase of machinery costing ₹625.78 Lakhs; and funding of working‑capital requirements estimated at ₹1,483.00 Lakhs. Any remaining amount will be allocated to general corporate purposes, subject to applicable limits.

Share Allocation

The allocation framework is as follows: a market‑maker reservation of 196,800 shares; an anchor‑investor portion of 1,102,800 shares; a net QIB portion of 744,000 shares, assuming the anchor‑investor portion is fully subscribed; a minimum of 558,000 shares reserved for non‑institutional investors; and a minimum of 1,298,400 shares for individual investors.

Timeline

  • Anchor Investor Bidding Date: 18 September 2026 (Friday)
  • Issue Opens: 21 September 2026 (Monday)
  • Issue Closes: 23 September 2026 (Wednesday)

Intermediaries

Oneview Corporate Advisors Private Limited is appointed as the Book‑Running Lead Manager. MUFG Intime India Private Limited serves as the Registrar to the Issue, and Basan Equity Broking Limited is designated as the Market Maker.

Management Commentary

Mr. Subhash Agarwal, Chairman & Managing Director of FX Multitech Limited, stated that the company is focused on expanding its presence across the HVAC and industrial refrigeration value chain by strengthening its product portfolio, distribution network, and engineering capabilities. He highlighted that the investment in Everestt Chillers Private Limited enhances the company’s ability to deliver customized industrial chiller solutions, and that the IPO proceeds will support debt repayment, machinery investment, and working‑capital needs, thereby underpinning future growth plans.

About FX Multitech Limited

Founded in 2008, FX Multitech Limited has transitioned from a conventional distribution business to an integrated solutions platform covering distribution, technical services, manufacturing participation, and exports. The company operates a pan‑India warehousing network in Hyderabad, Thane, Kolkata, and Bangalore, and maintains a growing export presence. Holding a 51% stake in Everestt Chillers Private Limited (ECPL), the firm has enhanced its manufacturing capabilities, enabling greater product customization, execution efficiency, and value‑chain control. FX Multitech specializes in heavy‑duty industrial chiller plants for high‑heat environments and sources high‑specification components through strategic partnerships with leading global OEMs.

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