FX Multitech Limited IPO
FX Multitech Limited IPO closed on 23 Sept 2026. Allotment 24 Sept 2026, listing 28 Sept 2026. Price band ₹110–₹116, lot 1200 shares, GMP +₹6.5 (5.6%). Track allotment on Allotly.
| Status | Closed |
|---|---|
| Category | SME · BSE |
| Price band | ₹110–₹116 |
| Lot size | 1200 shares |
| Minimum investment | ₹2,78,400 |
| Issue size | ₹45 Cr |
| GMP | +₹6.5 (5.6%) |
| Open date | 21 Sept 2026 |
| Close date | 23 Sept 2026 |
| Allotment date | 24 Sept 2026 |
| Listing date | 28 Sept 2026 |
| Registrar | MUFG |
About FX Multitech Limited
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…
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.