FX Multitech Sets ₹110 to ₹116 Price Band for ₹45.24 Crore BSE SME IPO Opening September 21

Ahmedabad-headquartered engineering components distributor FX Multitech Limited has finalized the terms for its initial public offering (IPO) on the BSE SME platform. The book-built issue is scheduled to open for public subscription on Monday, September 21, 2026, and close on Wednesday, September 23, 2026.

The company has fixed the issue price band at ₹110 to ₹116 per equity share of face value ₹10 each.

Issue Structure and Size

The overall public offering aggregates to ₹45.24 crore and comprises an issuance of 39.00 lakh equity shares:

• Fresh Issue: 35.52 lakh shares aggregating up to ₹41.20 crore.
• Offer for Sale (OFS): 3.48 lakh shares aggregating up to ₹4.04 crore offloaded by existing shareholders.
• Market Maker Portion: 1.96 lakh shares reserved for market maker Basan Equity Broking Limited.

The net offer to the public consists of 37,03,200 shares. Under the issue allocation framework, Qualified Institutional Buyers (QIBs) have been allocated 49.87% of the net issue, Non-Institutional Investors (NIIs / HNIs) are allocated 15.07%, and Retail Individual Investors (RIIs) have been reserved 35.06%.

Key IPO Timelines

Crucial Dates for Bidders:

• Anchor Investor Bidding Date: September 18, 2026
• IPO Open Date: September 21, 2026
• IPO Close Date: September 23, 2026
• Basis of Allotment: September 24, 2026
• Initiation of Refunds & Demat Credit: September 25, 2026
• Tentative Listing Date on BSE SME: September 28, 2026

Lot Size and Investment Thresholds

The market lot for bidding is set at 1,200 shares. Retail individual investors can apply for a minimum of 1,200 shares, while higher-tier applications require multiples thereof. At the upper price band of ₹116 per share, a bid of 2,400 shares requires a minimum investment of ₹2,78,400, while the minimum application size for High Net Worth Individuals (HNIs) is set at 3 lots (3,600 shares) amounting to ₹4,17,600.

Oneview Corporate Advisors Private Limited is acting as the sole Book Running Lead Manager to the issue, while MUFG Intime India Private Limited serves as the registrar.

Business Overview and Utilization of Funds

Established initially in 2008 and converted to a public limited company in December 2024, FX Multitech Limited operates as a distributor and exporter of engineering hardware tailored to industrial refrigeration and HVAC (heating, ventilation, and air conditioning) sectors. Its product catalogue spans commercial compressors, heat exchangers, variable frequency drives, cold room evaporators, industrial refrigeration controls, and specialty refrigerants.

Net Fresh Issue Proceeds Deployment:

• Funding working capital requirements of the company (approximately ₹14.83 crore).
• Full or partial prepayment or repayment of outstanding borrowings (approximately ₹10.00 crore).
• Capital expenditure investments into subsidiary Everestt Chillers Private Limited for equipment and machinery procurement (approximately ₹6.26 crore).
• General corporate purposes.

Tags: FX Multitech Limited BSE SME IPO SEBI HVAC Industry Industrial Engineering