Amtech Esters IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1.00x | 1.00x | 15.07x |
| NII | 2.14x | 3.83x | 32.68x |
| bNII > ₹10L | 3.02x | 4.58x | 34.63x |
| sNII 2-10L | 0.30x | 2.25x | 28.77x |
| Retail | 0.79x | 3.58x | 28.93x |
| Total | 1.14x | 2.90x | 25.78x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 27.24 | 36.97 | 40.75 |
| Expense | 23.84 | 31.81 | 35.01 |
| Profit (PAT) | 2.84 | 3.72 | 4.22 |
| Total Assets | 24.79 | 27.86 | 34.47 |
Strengths & Risks
- Strongly subscribed — 25.8x overall (so far).
- Strong institutional (QIB) demand — 15.1x.
- Solid profit margin — 10.4%.
- Strong return on equity — 24%.
- Low leverage — debt/equity of 0.17.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Amtech Esters
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.
Company Contact Information
Amtech Esters Ltd., Flat No. 102, Plot No. A – 3,, Magnum House 1, Commercial Complex,, Karam Pura, West Delhi, New Delhi,, West Delhi, New Delhi, 110015
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| 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 | 8.81 |
| Repayment or prepayment, in full or in part, of certain borrowings availed by the Company | 4.20 |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes | - |
Resources & Documents
Anchor Investors
Amtech Esters IPO - Quick Take
Amtech Esters has set a price band of Rs 71–Rs 75 per share for an issue size of Rs 18 crore. The stock listed with a 33.33% gain versus its issue price on September 17, 2026.
The issue is promoted by Ajit Singh Bawa, Gurpreet Kaur Bawa and Meenakshi Sharma with Credora Partners Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards investment in the subsidiary, namely Croda Pigments Private Limited, by way of debt:1.Towards capital expenditure requir… (Rs 9 crore) and repayment or prepayment, in full or in part, of certain borrowings availed by the Company (Rs 4 crore).
On fundamentals, the company is posting revenue growth of 10.2%, a profit margin of 10.4%, return on equity of 24.2% in its most recent reported period.
On our data-signal score, the combined signals for this issue currently read mixed — some indicators read positively and others do not. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Amtech Esters IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 21.3%. Of the 26 SME IPOs we have tracked with a final GMP between 10% and 25%, 21 listed above, 3 flat and 2 below the issue price; Amtech Esters listed 33.3% above its issue price.
See the full Amtech Esters GMP history and trend, or learn how grey market premium works and how reliable it is.
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