Amtech Esters IPO
Amtech Esters IPO Details
-
Open Date
09 Sep 2026
-
Close Date
11 Sep 2026
- IPO Price Range
₹ 71 to ₹75
- IPO Size
₹ 17.88 Cr
Amtech Esters IPO Timeline
Amtech Esters IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 09-Sep-2026 | 1.00 | 2.14 | 0.79 | 1.14 |
| 10-Sep-2026 | 1.00 | 3.47 | 3.58 | 2.82 |
Last Updated: 11 September 2026 6:37 PM by 5paisa
Amtech Esters Limited is a B2B chemical manufacturer specialising in Unsaturated Polyester Resins (UPRs) and complementary products, including fibreglass, hardeners and silicones. Through its wholly owned subsidiary, Croda Pigments Private Limited, the company also manufactures pigments for various chemical applications. Its manufacturing facilities are located in Bahadurgarh, Haryana. Supported by dedicated R&D and Quality Control departments, Amtech Esters maintains standardised manufacturing processes and holds ISO 9001:2015 certification.
Established in: 2002
Managing Director: Ajit Singh Bawa
Amtech Esters Objectives
1. Investment in the subsidiary, namely Croda Pigments Private Limited, by way of debt: 1. Towards capital expenditure requirements of the subsidiary;2.To meet the incremental working capital requirements of the subsidiary
2. Repayment or prepayment, in full or in part, of certain borrowings availed by the Company
3. Funding inorganic growth through unidentified acquisitions and general corporate purposes
Amtech Esters IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹17.88 Cr |
| Offer For Sale | - |
| Fresh Issue | ₹17.88 Cr |
Amtech Esters IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | 2,27,200 |
| Retail (Max) | 2 | 3,200 | 2,40,000 |
| S-HNI (Min) | 3 | 4,800 | 3,40,800 |
| S-HNI (Max) | 8 | 12,800 | 9,60,000 |
| B-HNI (Min) | 9 | 14,400 | 10,22,400 |
Amtech Esters IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.00 | 45,29,358 | 4,52,800 | 3.396 |
| Non-Institutional Buyers | 3.47 | 42,46,272 | 11,84,000 | 8.880 |
| bNII | 4.06 | 28,30,848 | 9,36,000 | 7.020 |
| sNII | 2.25 | 14,15,424 | 2,48,000 | 1.860 |
| Retail | 3.58 | 1,27,38,816 | 28,38,400 | 21.288 |
| Total** | 2.82 | 2,15,14,446 | 44,75,200 | 33.564 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 24.60 | 36.89 | 40.67 |
| EBITDA | 1.65 | 6.50 | 7.49 |
| PAT | 2.84 | 3.72 | 4.22 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 24.79 | 27.86 | 34.47 |
| Share Capital | 3.22 | 3.22 | 6.45 |
| Total Liabilities | 24.79 | 27.86 | 34.47 |
| Particulars (In ₹Crores.) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (used in) Operating Activities | 1.97 | 2.72 | 4.15 |
| Net Cash Generated From / (used in) Investing Activities | -1.36 | -3.18 | -3.99 |
| Net Cash Generated From / (used in) Financing Activities | 3.11 | -0.94 | -0.91 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 3.72 | -1.40 | -0.75 |
Strengths
1. Diversified portfolio across resins and complementary products
2. Integrated sourcing solution strengthens overall customer proposition
3. Dedicated R&D supports continuous product development initiatives
4. ISO certification demonstrates standardised quality management processes
Weaknesses
1. Significant revenue dependence on core UPR segment
2. Operations remain geographically concentrated in Northern India
3. High raw material costs affect operating profitability
4. Customer concentration creates dependence on key buyers
Opportunities
1. Growing industrial applications could support resin demand
2. Renewable energy applications offer potential growth avenues
3. Sustainable resin development creates new market opportunities
4. Product diversification can broaden addressable customer segments
Threats
1. Petrochemical raw material volatility may pressure margins
2. Environmental regulations could increase manufacturing compliance costs
3. Alternative resin technologies could affect UPR demand
4. Competitive pricing could constrain margins and growth
1. Diversified portfolio serves multiple industrial application segments
2. Integrated product offerings support broader customer requirements
3. R&D capabilities support product and process improvements
4. Growing UPR demand offers future expansion opportunities
India’s Unsaturated Polyester Resin (UPR) market offers growth potential, supported by increasing demand across construction, automotive, marine and renewable energy applications. Rising infrastructure development, industrialisation and adoption of lightweight composite materials are expected to support resin consumption. Amtech Esters’ presence across UPRs, fibreglass, hardeners, silicones and pigments provides exposure to multiple industrial applications. Its integrated portfolio and manufacturing capabilities could help the company capture opportunities arising from expanding domestic demand.
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FAQs
Amtech Esters IPO opens from September 9 , 2026 to September 11, 2026.
The size of Amtech Esters IPO is approximately ₹17.88 crore.
The price band of Amtech Esters IPO is fixed at ₹71 to ₹75 per share.
To apply for Amtech Esters IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Amtech Esters IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size is 3,200 shares, requiring an investment of approximately ₹2,27,200.
The share allotment date of Amtech Esters IPO is September 15, 2026.
The Amtech Esters IPO will likely be listed on September 17, 2026.
Credora Partners Pvt.Ltd is the book-running lead manager.
1. Investment in the subsidiary, namely Croda Pigments Private Limited, by way of debt: 1. Towards capital expenditure requirements of the subsidiary;2.To meet the incremental working capital requirements of the subsidiary
2. Repayment or prepayment, in full or in part, of certain borrowings availed by the Company
3. Funding inorganic growth through unidentified acquisitions and general corporate purposes