GMP IPO Watch
Amtech Esters IPO
Amtech Esters IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Amtech Esters IPO Details
Key facts at a glance| IPO Open Date | 8 September 2026 | IPO Close Date | 10 September 2026 |
|---|---|---|---|
| Basis of Allotment | 14 September 2026 | Listing Date | 16 September 2026 |
| Price Band | ₹71 - ₹75 per share | Face Value | ₹10 per share |
| Market Lot Size | 1600 Shares | Min Investment (Retail) | ₹2,40,000 |
| Total Issue Size | ₹17.88 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | ₹17.88 Cr | Offer for Sale (OFS) | — |
| Listing At | NSE, BSE | Issue Category | SME Issue |
| Registrar | Maashitla Securities Pvt. Ltd. | ||
Amtech Esters IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 8 September 2026 | Confirmed |
| IPO Close Date | 10 September 2026 | Confirmed |
| Basis of Allotment | 14 September 2026 | Tentative |
| Initiation of Refunds | 16 September 2026 | Tentative |
| Credit of Shares to Demat | 16 September 2026 | Tentative |
| IPO Listing Date | 16 September 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 11 September 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
Amtech Esters IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 2 Lots | 3,200 Shares | ₹2,40,000 |
| Retail (Max) | 2 Lots | 3,200 Shares | ₹2,40,000 |
| S-HNI (Min) | 3 Lots | 4,800 Shares | ₹3,60,000 |
| S-HNI (Max) | 8 Lots | 12,800 Shares | ₹9,60,000 |
| B-HNI (Min) | 9 Lots | 14,400 Shares | ₹10,80,000 |
Amtech Esters IPO Live GMP & Movement History
Daily unofficial grey market trends₹16 +21.3%
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 16 Sept 2026 | ₹13 | ₹88.00 | +17.33% |
| 11 Sept 2026 | ₹11 | ₹86.00 | +14.67% |
| 10 Sept 2026 | ₹11 | ₹86.00 | +14.67% |
| 9 Sept 2026 | ₹6 | ₹81.00 | +8.00% |
| 8 Sept 2026 | ₹6 | ₹81.00 | +8.00% |
| 7 Sept 2026 | ₹5 | ₹80.00 | +6.67% |
| 6 Sept 2026 | ₹5 | ₹80.00 | +6.67% |
Amtech Esters IPO Subscription Status
Demand breakdown by investor categoryAmtech Esters Company Financials
Restated figures (₹ in Crores)| Period | Total Assets | Total Revenue | Total Expenses | Profit After Tax (PAT) |
|---|---|---|---|---|
| 2024 | 24.79 Cr. | 27.24 Cr. | 23.84 Cr. | 2.84 Cr. |
| 2025 | 27.86 Cr. | 36.97 Cr. | 31.81 Cr. | 3.72 Cr. |
| 2026 | 34.47 Cr. | 40.75 Cr. | 35.01 Cr. | 4.22 Cr. |
* Amounts reported in ₹ Crores as sourced from company regulatory filings (RHP/DRHP).
Amtech Esters IPO Valuation & KPIs
Key metrics pre-issueAbout Amtech Esters
Amtech Esters is engaged in the business-to-business manufacturing of unsaturated polyester resins while also trading in complementary products such as fiber resins, hardeners, silicones, and other ancillary materials. The company’s operations are predominantly driven by its manufacturing vertical, supported by an extensive product portfolio that caters to diverse industrial applications. The core manufacturing activities are centralized in Haryana, where the company operates its primary facility alongside a new plant currently under construction in Asoda. Revenue generation is heavily reliant on its unsaturated polyester resins segment, which contributes a significant majority of its total operational income. In addition to its primary resin business, the company maintains a vertically integrated operational structure through its wholly owned subsidiary, Croda Pigments Private, which specializes in the manufacturing of pigments used as colorants and additives across various industrial and household sectors.
Key Strengths
- Broad product portfolio of unsaturated polyester resins and complementary chemicals.
- Established a vertically integrated business model with its subsidiary Croda Pigments.
- Upcoming capacity expansion with a new manufacturing facility in Asoda, Haryana.
- Strong quality assurance ensures consistent and standardized product excellence.
- Experienced promoter group and senior management with deep industry expertise.
Key Risks
- High revenue dependence on unsaturated polyester resins exposes the business to concentration risk.
- Operations are heavily concentrated in a single geographical region in Haryana.
- Subject to stringent environmental and safety regulations regarding hazardous chemicals.
- Delays in the subsidiary’s capital expenditure plans could adversely impact expected financial growth.
- Any inability to generate adequate demand for the new Asoda facility may affect profitability.
Amtech Esters IPO Reservation & Share Quotas
The Amtech Esters IPO reservation divides the offered shares among anchor investors, qualified institutional buyers, non-institutional investors and retail investors. The category-wise allocation gives investors a clear view of how the IPO shares are distributed across different investor groups.
Anchor investors receive a separate allocation before the public subscription begins, while the remaining shares are distributed among QIB, NII and retail categories according to the issue structure.
| Investor Category | Share Offered | % Shares |
|---|---|---|
| Anchor Investor | 6,76,800 Shares | 28.39% |
| QIB (Ex. Anchor) | 4,52,800 Shares | 18.99% |
| NII Shares Offered | 3,40,800 Shares | 14.30% |
| Retail Shares Offered | 7,93,600 Shares | 33.29% |
Amtech Esters IPO Anchor Investors
The Amtech Esters IPO anchor investor bidding is scheduled for September 8, 2026, one day before the public issue opens. Anchor allocation gives eligible institutional investors an opportunity to participate in the issue ahead of the general subscription period.
The anchor investor details, including the number of shares offered and applicable lock-in information, are provided below along with the official allocation document.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 8, 2026 |
| Anchor Investors List | |
| Shares Offered | 6,76,800 Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date – 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date – 50% Shares (90 Days) | 2026 |
Amtech Esters IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 09 Sept 2026 |
| IPO Close Date | 11 Sept 2026 |
| Basis of Allotment | 15 Sept 2026 |
| Refunds | 16 Sept 2026 |
| Credit to Demat Account | 16 Sept 2026 |
| IPO Listing Date | 17 Sept 2026 |
Note: The timeline for ਐਮਟੈਕ ਐਸਟਰ IPO is tentative and subject to change.
Amtech Esters Promoters and Shareholding Pattern
The promoters of Amtech Esters are Ajit Singh Bawa, Gurpreet Kaur Bawa and Meenakshi Sharma. Together, the promoter and promoter group hold 62.35% of the company's pre-IPO shares. After the IPO, their holding is expected to reduce to 45.52%, reflecting the increase in the company's overall share capital.
The post-IPO holding pattern shows a higher shareholding for other investors, while the promoter shareholding percentage declines even though the number of shares held by the promoter and promoter group remains unchanged.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 40,18,776 | 62.35% | 40,18,776 | 45.52% |
| Others* | 24,26,392 | 37.65% | 48,10,392 | 54.48% |
| Total | 64,45,168 | 100% | 88,30,168 | 100% |
Amtech Esters Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Purpose | INR crores (%) |
| Funding capital expenditure for a wholly owned subsidiary | 3.41 (19.07%) |
| Meeting the working capital requirements of a wholly owned subsidiary | 5.4 (30.20%) |
| Repayment or prepayment of certain borrowings | 4.2 (23.49%) |
| General corporate purposes | 4.87 (27.24%) |
Note: Objectives are as specified in the DRHP/RHP documents of ਐਮਟੈਕ ਐਸਟਰ.
Amtech Esters About the IPO
Amtech Esters, founded in May 2002, is one of the leading chemical manufacturing firms that manufactures Unsaturated Polyester Resins (UPRs). This chemical is used to make materials such as resin and fiberglass-reinforced plastic (FRP) products. The company’s product portfolio includes Unsaturated Polyester Resins, fibreglass, hardeners, silicones and other ancillary products used in various industrial applications.
Amtech Esters also operates its business through its wholly owned subsidiary, Croda Pigments Private Limited (CPPL), which is involved in the manufacture of pigments used as colourants and additives in paints, varnishes, dyes, glues, gums and other chemical applications. Its manufacturing facilities are situated in Bahadurgarh, Jhajjar, Haryana, which comprises modern and automated plant and machinery.
Amtech Esters Company Financial Report
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 27.24 Cr. | 23.84 Cr. | 2.84 Cr. | 24.79 Cr. |
| 2025 | 36.97 Cr. | 31.81 Cr. | 3.72 Cr. | 27.86 Cr. |
| 2026 | 40.75 Cr. | 35.01 Cr. | 4.22 Cr. | 34.47 Cr. |
Note: Financial numbers for ਐਮਟੈਕ ਐਸਟਰ are in ₹ Crores unless stated otherwise.
Amtech Esters Company Valuation & Key Performance Indicators
| KPI | Values |
|---|---|
| ROE | 24.17% |
| ROCE | 30.16% |
| EBITDA Margin | 18.41% |
| PAT Margin | 10.38% |
| Debt to Equity Ratio | 0.17 |
| Earning Per Share (EPS) | 6.55 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 24.17% |
| Net Asset Value (NAV) | 30.38 |
Note: Valuation KPIs for ਐਮਟੈਕ ਐਸਟਰ are computed for FY2026.
Amtech Esters Peer Group Comparison
To Be Updated Soon
Amtech Esters Lead Managers & Merchant Bankers
- Credora Partners Pvt.Ltd.
Amtech Esters IPO FAQs
Amtech Esters IPO opens for subscription on 8 September 2026 and closes on 10 September 2026.
The price band for Amtech Esters IPO is set at ₹71.00 to ₹75.00 per share.
The minimum market lot size is 1600 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 3,200 Shares (₹2,40,000).
The latest Grey Market Premium (GMP) for Amtech Esters IPO is ₹16. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for Amtech Esters IPO is tentatively scheduled for 14 September 2026, and shares are expected to list on the stock exchanges on 16 September 2026.
Maashitla Securities Pvt. Ltd. is the official registrar for Amtech Esters IPO. Investors can check their IPO allotment status directly on the registrar's portal once finalized.