Amtech Esters IPO
Market Sentiment
IPO Details
Market Lot Size
IPO Reservation
Return Estimator (GMP*)
Allotment Chances
Day-wise Subscription (times subscribed)
Financial Analysis
| 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 |
Promoters: Ajit Singh Bawa, Gurpreet Kaur Bawa and Meenakshi Sharma
Strengths & Risks
- Healthy grey-market premium — +9% over the issue price.
- Heavily oversubscribed — 25.8x overall (so far).
- Strong institutional (QIB) demand — 15.1x.
- Solid profit margin — 10.4%.
- Strong return on equity — 24%.
- Grey-market premium is slipping during the bidding window.
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
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.
| 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
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
Amtech Esters has set a price band of Rs 71–Rs 75 per share for an issue size of Rs 18 crore. The subscription window has closed; shares are expected to list on September 17, 2026 (3 days away).
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 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).
Grey market is quoting a premium of +Rs 7 (+9.3% over issue price). Final subscription data records overall subscription at 25.78x, retail at 28.93x, QIB at 15.07x, NII at 32.68x.
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.
Our data-driven engine currently flags this issue as a Neutral stance — the data is mixed and the risk-reward is balanced rather than one-sided. Allotment status can be checked on the registrar portal once published; see the allotment links below.
Amtech Esters IPO GMP — What It Means
The latest grey market premium for Amtech Esters IPO is ₹7 (+9.3%). GMP is an unofficial, dealer-quoted figure that hints at expected listing-day demand — it is not a guaranteed listing price. For Amtech Esters it should be read alongside the subscription numbers and the company's fundamentals, since grey-market premiums can swing sharply during the bidding window.
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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