FX Multitech IPO Date & Timeline
Tentative schedule from the RHP.
FX Multitech IPO GMP Today
Unofficial, aggregated from market sources. It never feeds our score.
Full GMP history (1 updates)
| Date & time (IST) | GMP | Change | GMP % | Est. listing |
|---|---|---|---|---|
| Sep 24, 2026 · 7:20 PM | ₹4 | — | 3.4% | ₹120 |
FX Multitech IPO Subscription Status
From NSE + BSE bid data, excluding the anchor portion.
Day-wise subscription
| Day | QIB | bHNI | sHNI | NII total | Individual | Total |
|---|---|---|---|---|---|---|
| Shares offered | 7,44,000 | 3,72,000 | 1,86,000 | 5,58,000 | 12,98,400 | 26,00,400 |
| Day 1 · Sep 21 | 0.00× | 1.73× | 0.12× | 1.19× | 0.06× | 0.29× |
| Day 2 · Sep 22 | 0.01× | 2.29× | 0.35× | 1.65× | 0.20× | 0.46× |
| Day 3 · Sep 23 | 20.95× | 30.40× | 18.21× | 26.34× | 12.31× | 17.79× |
FX Multitech IPO Details
Checked against the RHP and cross-checked on NSE and BSE.
| IPO date | Sep 21 – 23, 2026 |
| Price band | ₹110 – 116 per share |
| Face value | ₹10 per share |
| Lot size | 1,200 shares |
| Total issue size | 39,00,000 shares ₹45.24 Cr |
| Fresh issue | 35,52,000 shares ₹41.20 Cr |
| Offer for sale | 3,48,000 shares ₹4.04 Cr |
| Issue type | Book Built · SME |
| Listing at | BSE SME |
| Market cap | ≈ ₹166.57 Cr |
| Promoter holding | 100% → 72.84% |
| Lead manager | Oneview Corporate Advisors Pvt. Ltd. |
| Market maker | Basan Equity Broking Ltd. |
| Registrar | MUFG Intime India Pvt. Ltd. |
Offer documents
FX Multitech IPO Lot Size
Minimum and maximum bids by investor type at the upper band of ₹116.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual (min) | 2 | 2,400 | ₹2,78,400 |
| Individual (max) | 2 | 2,400 | ₹2,78,400 |
| sHNI (min) | 3 | 3,600 | ₹4,17,600 |
| sHNI (max) | 7 | 8,400 | ₹9,74,400 |
| bHNI (min) | 8 | 9,600 | ₹11,13,600 |
FX Multitech IPO Reservation
Shares set aside for each category, and the maximum number of applicants who can get an allotment.
| Category | Shares offered | % of issue | Max. allottees |
|---|---|---|---|
| Market maker | 1,96,800 | 5% | — |
| Anchor investors | 11,02,800 | 28.3% | — |
| QIB (ex-anchor) | 7,44,000 | 19.1% | — |
| NII (HNI) | 5,58,000 | 14.3% | — |
| ↳ bHNI (>₹10L) | 3,72,000 | 9.5% | 103 |
| ↳ sHNI (₹2–10L) | 1,86,000 | 4.8% | 52 |
| Individual | 12,98,400 | 33.3% | 541 |
| Total | 39,00,000 | 100% |
FX Multitech Financials (FY24 – FY26)
Restated consolidated figures from the RHP, ₹ crore. Years end March 31.
Financial statement
| ₹ Cr | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Revenue | 68.74 | 102.34 | 111.90 | +9.3% |
| EBITDA | 6.95 | 14.17 | 19.37 | +36.7% |
| Profit after tax | 4.18 | 9.64 | 11.54 | +19.7% |
| Total assets | 32.66 | 61.12 | 73.05 | +19.5% |
| Net worth | 16.71 | 26.35 | 37.89 | +43.8% |
| Reserves & surplus | 16.45 | 15.54 | 27.08 | +74.3% |
| Total borrowing | 11.24 | 17.32 | 18.42 | +6.4% |
FX Multitech IPO Valuation
At the upper band of ₹116.
About FX Multitech
Business profile from the RHP.
- 2008Incorporated · Ahmedabad, Gujarat
- 5 warehousesAhmedabad, Hyderabad, Thane, Kolkata, Bangalore
- 48Employees (Jul 31, 2026)
- HVAC & refrigerationCompressors, controls, VFDs, heat exchangers, refrigerants
Promoters & holding
Subhash Agarwal, Selvaraj Rangaswamy, Anita Agarwal, Kanagalakshmi Selvaraj
Objects of the issue
Anchor investors
Allotted Sep 18, 2026 · 11,02,800 shares. Lock-in: 50% until Oct 24, 2026, the rest until Dec 23, 2026.
FX Multitech IPO Review: Should You Apply?
Our 100-point score, and both sides of the case.
Our view: A profitable HVAC and refrigeration distributor with 30%+ returns, a reasonable ~14× post-issue P/E and very strong demand across all categories (17.8×). But it resells other companies' products, growth slowed sharply in FY26, borrowings keep rising, and exports have almost vanished.
- Profit nearly tripled from ₹4.2 Cr (FY24) to ₹11.5 Cr (FY26); ROE ~38%, RoNW ~32%.
- Reasonable price: ~14× post-issue earnings and ~3.3× book.
- Very strong demand: 17.79× overall, with QIBs at 20.95× and NIIs at 26.34×.
- Mostly fresh issue (₹41.2 Cr of ₹45.2 Cr), going to debt repayment, a subsidiary's machinery and working capital; promoters keep ~73%.
- Serves growing HVAC and cold-chain demand with a five-city warehouse network.
- Distributor model: it sells products made by global suppliers, so margins and supply depend on those relationships.
- Growth slowed: revenue rose only ~9% in FY26 after a 49% jump in FY25.
- Rising debt: borrowings up from ₹11.2 Cr to ₹18.4 Cr; IPOWatch's review flags total debt of ₹26.1 Cr.
- Export share fell from ~9% to under 1% of revenue, and there's no dividend history (per IPOWatch).
- SME listing: ₹2,78,400 minimum ticket (2 lots), trading in lots and usually thin liquidity; a small team of 48 people.
FX Multitech Listing Performance Updates after Sep 28
We close the loop: issue vs listing price, and whether our call was right.
FX Multitech IPO Allotment Status & Contact Details
Allotment was finalised on Sep 24. Check it with your PAN or application number.
MUFG Intime India Pvt. Ltd.
- Phone
- 022-49186000
- fxmultitech.smeipo@in.mpms.mufg.com
FX Multitech Ltd.
- Address
- C-907, 908 Titanium Square, Thaltej Cross Road, Thaltej, Ahmedabad, Gujarat 380054
- Phone
- 079-48925548
- compliance@fxmultitech.com
- Website
- fxmultitech.com
FX Multitech IPO FAQs
GMP, price, lot size, dates, allotment and how to apply.
What is FX Multitech IPO?
FX Multitech IPO is a ₹45.24 Cr SME book built issue made up of a fresh issue of ₹41.20 Cr and an offer for sale of ₹4.04 Cr. The shares will list on BSE SME.
What is FX Multitech IPO GMP today?
As of Sep 24 · 7:20 PM IST, the grey market premium is ₹4 (≈3.4%), implying an estimated listing price of about ₹120. The GMP has ranged ₹4 since Sep 24. GMP is unofficial and not a guarantee of the listing price.
What is the price band of FX Multitech IPO?
The price band is ₹110 – ₹116 per equity share of face value ₹10.
What is the lot size of FX Multitech IPO?
The minimum lot is 1,200 shares. Individual investors must apply for exactly 2 lots (2,400 shares).
What is the minimum investment for FX Multitech IPO?
The minimum individual investment is ₹2,78,400 (2,400 shares at ₹116).
When does FX Multitech IPO open and close?
The IPO opens on Sep 21, 2026 and closes on Sep 23, 2026.
What is the allotment date of FX Multitech IPO?
The basis of allotment is finalised on Sep 24, 2026. Refunds and demat credit are expected on Sep 25, 2026.
When will FX Multitech IPO be listed?
The tentative listing date is Sep 28, 2026 on BSE SME.
What is FX Multitech IPO subscription status?
At close (Sep 23 · 5:00 PM IST), the issue was subscribed 17.79× overall — QIB 20.95×, bHNI 30.40×, sHNI 18.21×, Individual 12.31×.
What is the P/E ratio and valuation of FX Multitech IPO?
At the upper band, the P/E is 10.9× pre-issue and 14.4× post-issue, with a market cap of about ₹166.57 Cr.
Should I apply for FX Multitech IPO?
IPOSignal's view is Proceed with Caution · Strong Demand, Distributor Model (68/100). A profitable HVAC and refrigeration distributor with 30%+ returns, a reasonable ~14× post-issue P/E and very strong demand across all categories (17.8×). But it resells other companies' products, growth slowed sharply in FY26, borrowings keep rising, and exports have almost vanished. This is research, not investment advice.
How to check FX Multitech IPO allotment status?
Check on the registrar MUFG Intime India Pvt. Ltd.'s site (in.mpms.mufg.com/Initial_Offer/public-issues.html), or on the BSE / NSE allotment pages, using your PAN or application number.
Who is the registrar and lead manager of FX Multitech IPO?
The registrar is MUFG Intime India Pvt. Ltd.. The book-running lead manager is Oneview Corporate Advisors Pvt. Ltd.. The market maker is Basan Equity Broking Ltd..