- POSITIVE
Annual Revenue FX Multitech Mar-2026 Annual Revenue is Rs 112 Cr which is growth of 9.3% YoY.
- POSITIVE
Annual Net Profit FX Multitech Mar-2026 Annual Net Profit is Rs 12 Cr which is growth of 19.7% YoY.
FX Multitech Ltd. IPO Details
FX Multitech was incorporated on March 27, 2008. The company distributes and exports products used in the Heating, Ventilation and Air Conditioning (HVAC) and industrial refrigeration industries. It primarily serves industrial and commercial customers across different parts of the refrigeration and HVAC value chain
| Bidding Dates |
|---|
| 21 Sep 2026 - 23 Sep 2026 |
| Subscription |
|---|
| 0.43x Undersubscribed |
| Check Allotment Status |
|---|
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹264,000 | 2 | 2 | 1200 | 3.9 M | ₹110 - ₹116 | 72.84 % | ₹429.0 M - ₹452.4 M | RHP DOC |
FX Multitech IPO SUBSCRIPTION STATUS
22 Sep '26Total0.43x
Retail Individual Investor0.2x
HNI (NII) Investors1.22x
Qualified Institutional Buyers0.01x
FX Multitech IPO overall subscription rate was 0.43 times the total available shares
FX Multitech IPO retail subscription rate was 0.2 times in the retail segment
FX Multitech IPO non-institutional investor subscription rate was 1.22 times in the non-institutional investor category
FX Multitech IPO Qualified Institutional Bidder subscription rate was 0.01 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
22 Sep 2026 (Day 2) | 0.2x | 1.22x | 0.01x |
21 Sep 2026 (Day 1) | 0.07x | 0.88x | - |
FX Multitech FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 126.1 | 11.8 | -1.0 | -1.6 | 15.4% |
| FY25 | 102.0 | 9.6 | -1.9 | -3.5 | 13.9% |
| FY24 | 68.5 | 4.2 | 1.5 | 1.4 | 10.2% |
FX Multitech IPO SUBSCRIPTION STATUS DETAILS
FX Multitech has 3.9 M shares on offer
FX Multitech IPO offer price is in the range ₹110 - ₹116
FX Multitech IPO minimum Investment is ₹264000
FX Multitech IPO issue size is ₹ 429.0 M - ₹ 452.4 M
FX Multitech has a minimum lot size of 1200 Shares per application
FX Multitech NUMBER OF SHARES ON OFFER
Total3.9 M
Fresh Issue3.6 M
Offer for Sale348.0 K
Post Issue Promoter Holding %72.84 %
FX Multitech IPO IMPORTANT DATES
| Issue Open Date | 21 Sep 2026 |
| Issue close Date | 23 Sep 2026 |
| Allotment Date | 24 Sep 2026 |
| Refund Date | 25 Sep 2026 |
| Demat Account Credit Date | 25 Sep 2026 |
| Listing Date | 28 Sep 2026 |
| Listing on Exchange(s) | BSE |
| FX Multitech Allotment Status | Exchange/ Registrar |
FX Multitech IPO subscription opens on 21 Sep 2026, and closes on 23 Sep 2026
IPO allotment for FX Multitech is expected to be finalized on Thursday, 24 Sep 2026
IPO listing for FX Multitech will be on BSE on Monday, 28 Sep 2026
FX Multitech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FX Multitech Ltd. | 116 | 166.6 | 14.1 | 0.6 | 1.3 | 31 | 13.7 | 126.4 | 23.4 | 11.8 | 23.6 | 8.2 | 23.6 |
| Akiko Global Services Ltd. | 430 | 463.1 | 30.2 | 0.2 | 2.2 | 25.6 | 14.2 | 173 | 126.4 | 15.3 | 107.5 | 14.2 | 185.9 |
| Gretex Industries Ltd. | 225 | 356.7 | 242.3 | -20.8 | 6.4 | 2.8 | 2.2 | 57.1 | 54.4 | 1.5 | 3.9 | 0.9 | -11.7 |
| Purple Wave Infocom Ltd. | 381 | 352.2 | 26.2 | 23.3 | 14.3 | 146.3 | 16 | 13.4 | 47.3 | 14.5 | |||
| Kwick Forensic Solutions Ltd. | 140.5 | 301.2 | 22.3 | 32.6 | 22.3 | 105.8 | 62.6 | 13.5 | 57.8 | 6.3 | |||
| Shiv Texchem Ltd. | 110.8 | 256.9 | 3.3 | 19 | 5.2 | 2782.1 | 26.2 | 77.8 | 61.7 | 33.6 |
Annual
Balance Sheet
Ratios
Cash Flow
FX Multitech annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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Base Level
Reporting Type
Standalone
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Actual
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Base Level
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| Indicator | Graph | Mar '26 | Mar '25 | Mar '24 |
|---|---|---|---|---|
| 111.9 | 102.3 | 68.7 | ||
Operating Exp. Ann. | 94.5 | 88.1 | 61.7 | |
Operating Profit Ann. | 17.1 | 13.7 | 6.8 | |
OPM Ann. % | 15.27% | 13.34% | 9.94% | |
| 96.4 | 89.4 | 63.1 | ||
EBITDA Ann. | 17.4 | 14.2 | 7.1 | |
EBITDA Ann. margin % | 15.57% | 13.90% | 10.26% | |
Interest Ann. | 1.8 | 1.2 | 1.3 | |
Depr. | 0.1 | 0.1 | 0.1 | |
PBT Ann. | 15.5 | 12.9 | 5.6 | |
Tax Ann. | 4 | 3.3 | 1.4 | |
| 11.5 | 9.6 | 4.2 | ||
Net Profit Ann. | 11.5 | 9.6 | 4.2 | |
NPM Ann. % | 10.34% | 9.47% | 6.09% | |
EPS Adj. latest Ann. | 8 | 6.7 | 2.9 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
9.4%
2Y CAGR
27.6%
Net Profit Ann.
1Y CHG
19.8%
2Y CAGR
65.5%
Operating Exp. Ann.
1Y CHG
7.3%
2Y CAGR
23.8%
FX Multitech INFORMATION ON IPO ISSUE
About FX Multitech
FX Multitech was incorporated on March 27, 2008. The company distributes and exports products used in the Heating, Ventilation and Air Conditioning (HVAC) and industrial refrigeration industries. It primarily serves industrial and commercial customers across different parts of the refrigeration and HVAC value chain
Object of the Issue
- Repayment/pre-payment, in full or part, of certain borrowings availed by the company
- Investment in the subsidiary namely Everestt Chillers Private Limited for purchase of machineries
- Funding of working capital requirements
- General corporate purposes
FX Multitech - PROMOTERS
| Name |
|---|
| Subhash Agarwal |
| Selvaraj Rangaswamy |
| Anita Agarwal |
| Kanagalakshmi Selvaraj |
FX Multitech - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Subhash Agarwal | Managing Director |
| Selvaraj Rangaswamy | Whole-time Director |
| Kanagalakshmi Selvaraj | Non-Executive Director |
| Shivam Devkishanji Soni | Independent Director |
| Harshil B Vadodariya | Independent Director |
| Nageswara Rao Narla | Independent Director |
FX Multitech Book Running Lead Manager
Oneview Corporate Advisors Private Limited
mbd@oneviewadvisors.com
FX Multitech Registrar to the issue
Mufg Intime India Private Limited
fxmultitech.smeipo@in.mpms.mufg.com
FX Multitech Strengths
Global suppliers
The company has established relationships with suppliers across Europe and Asia in the HVAC and industrial refrigeration industry. These relationships provide access to a diverse range of products, components and newer technologies
Strength
Distribution network
The company has an established distribution network across multiple states, supported by strategically located warehouses and logistics operations. This enables timely deliveries and helps serve customers across different regions
Strength
Product portfolio
The company offers products across HVAC, refrigeration, automation, electrical components and industrial accessories. This diversified portfolio reduces dependence on a single industry and helps serve a wider customer base
Strength
FX Multitech Risks
Supplier dependence
The company depends on a limited number of suppliers, including a single supplier for a significant portion of its purchases. Any supply disruption or delay could affect product availability, customer deliveries and operations
Risk
Customer retention
The company does not have long-term agreements with its customers, with sales mainly based on purchase orders or short-term arrangements. Any reduction or cancellation of orders could affect revenue, cash flows and business stability
Risk
Regulatory approvals
The company requires several licences, registrations and regulatory approvals, some of which are pending, expired or yet to be obtained. Any delay, non-renewal or non-compliance could disrupt operations and result in penalties or restrictions
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 4.0 crore, of 348,000 shares. It also consists of a fresh issue of Rs 41.2 crore.
The promoters of the company are Subhash Agarwal, Selvaraj Rangaswamy, Anita Agarwal and Kanagalakshmi Selvaraj.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 110.0 - 116.0.
The IPO application opens on Sep 21, 2026 and closes on Sep 23, 2026.
The minimum lot size for the IPO is 2400. The maximum lot size for the IPO is 2400.
For all category investors, the minimum application amount for this IPO is Rs. 264,000.0, the maximum value for this IPO is Rs 278,400.0.
This IPO will be allotted on Sep 24, 2026.
The refund will be credited to your account on Sep 25, 2026.
The allotted shares will be credited to your demat on Sep 25, 2026.
FX Multitech Ltd.’s shares will list on the stock exchanges on Sep 28, 2026.