FX Multitech IPO: Date, Price, Allotment, GMP & Review | Finowings

FX Multitech IPO- Company Analysis 

FX Multitech IPO under the SME IPO category is a book build issue of Rs. 45.24 Cr by FX Multitech Limited, in the export and distribution of a wide range of goods, mostly for the industrial refrigeration and HVAC (heating, ventilation, and air conditioning) sectors. Compressors, refrigeration and air conditioning controls, industrial refrigeration controls, variable frequency drives and automation products, specialized parts and tools, heat exchangers, cold room evaporators, refrigerants, and ancillary products are just a few of the many engineering and refrigeration products that the company offers. 

It procures goods from internationally renowned producers and provides cutting-edge, dependable, economical, and energy-efficient solutions for commercial and industrial uses.

With its headquarters located in Ahmedabad, Gujarat, and warehouses located in Hyderabad, Thane, Kolkata, and Bangalore, FX Multitech boasts a diverse distribution network. The company's multi-city presence allows it to provide prompt product delivery, technical assistance, and after-sales care to customers throughout India.

FX Multitech IPO Details

The FX Multitech IPO date of opening is 21 Sep 2026; its initial public offering will end on 23 Sep, IPO allotment on Sep 24 and refund initiation on Sep 25, 2026.

The Rs. 45.24 crore new SME IPO comprises a combination of a fresh issue of 35.52 lakh shares (Rs. 41.20 Cr) and an offer for sale of 3.48 lakh shares (Rs. 4.04 Cr).

The FX Multitech IPO listing date (expected) might be Monday, Sep 28, 2026, and the listing on the BSE and SME. 

The FX Multitech IPO price band is Rs. 110 to Rs. 116.

IPO Timetable (Tentative)

Click to open demat account and apply for the IPO.

Company Financials

(Amount in Cr)

Cash Flows

(Amount in Lac)

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The Company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Repayment/pre-payment, in full or part, of certain borrowings availed by the Company. ~ Rs. 10 Cr.

• Investment in the subsidiary, namely Everestt Chillers Pvt. Ltd., for purchase of machinery. ~ Rs. 6.26 Cr.

• Funding of Working Capital Requirements. ~ Rs. 14.83 Cr.

• General Corporate Purposes. 

Listed Peers of FX Multitech Ltd.

No listed peer of a similar size is engaged in the same lines of business as mentioned in the RHP.

Valuation

Evaluation of P/E Ratio

Considering the period ended on FY 2026 with an EPS of Rs. 10.92 from the last year, the resulting P/E ratio is 10.62x.

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IPO's Strengths 

• Strong relationships with global suppliers.

• Wide and established distribution network.

• Efficient operations and supply chain management.

• Diversified product portfolio across multiple industries.

IPO's Weaknesses

• Working capital-intensive operations, regional OEM production limits, and reliance on global technology partners.

• B2B-focused branding, nascent global penetration, and uneven digital adoption (IoT & predictive maintenance).

• Raw material volatility, OEM relationship disruption, high domestic and multinational competition.

FX Multitech IPO GMP (Grey Market Premium)

FX Multitech IPO GMP today is Rs. 0 as of 16 September 2026, while writing this information. 

FX Multitech IPO Summary

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (2400 Shares) for Rs. 2,78,400, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (3600 Shares) for Rs. 4,17,600.

FX Multitech IPO Allotment Status

To check the FX Multitech IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of FX Multitech Ltd.

• Subhash Agarwal

• Selvaraj Rangaswamy

• Anita Agarwal 

• Kanagalakshmi Selvaraj.

IPO Lead Managers

Oneview Corporate Advisors Pvt. Ltd. 

Dividend Policy

The company has not paid a dividend during the last three FYs.

Conclusion

FX Multitech IPO, a Rs. 45.24 Cr SME issue opening September 21-23, 2026, offers investors exposure to industrial refrigeration and HVAC distribution at a price band of Rs. 110-116.  

With strong financials, healthy margins, and proceeds aimed at debt repayment and expansion, the company presents a growth-oriented opportunity in India’s engineering products sector.  

Evaluate the IPO’s valuation, strengths, and risks carefully before applying through your demat account.

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Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.

You must consult your financial advisor before making any financial decisions.

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To Read the Prospectus of the Company to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.