Seemax Resources IPO
Upcoming SMEAlready have an account? Apply now
Seemax Resources IPO details
Schedule of Seemax Resources
| Issue open date | 30 Jun 2026 |
| Issue close date | 02 Jul 2026 |
| UPI mandate deadline | 02 Jul 2026 (5 PM) |
| Allotment finalization | 03 Jul 2026 |
| Refund initiation | 06 Jul 2026 |
| Share credit | 06 Jul 2026 |
| Listing date | 07 Jul 2026 |
| Mandate end date | 17 Jul 2026 |
| Lock-in end date for anchor investors (50%) | 01 Aug 2026 |
| Lock-in end date for anchor investors (remaining) | 30 Oct 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Seemax Resources
Seemax Resources Limited is engaged in providing material handling equipment (MHE) solutions through equipment rentals, machinery trading, freight services and manpower support. The company’s core business is centred on renting MHE, with value-added services such as annual maintenance contracts (AMCs), preventive maintenance, technical support, and trained operators. Its rental fleet includes battery and diesel forklifts, Hydra cranes, battery-operated pallet trucks (BOPT) and reach trucks, which serve industries such as manufacturing, warehousing, logistics, ports, construction and industrial infrastructure. Alongside rentals, the company trades in new material handling equipment sourced through authorised dealership arrangements and also offers customised MHE solutions based on customer requirements. It generates most of its revenue from equipment rentals, while machinery sales and related services provide additional income. By combining equipment, maintenance and skilled manpower under one offering, the company provides integrated material handling solutions to its customers.
Financials of Seemax Resources
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 19.74 |
| Fresh issue- proceeds go to the company | 19.74 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Purchase material handling equipment | 10 (50.66%) |
| Repay or prepay bank and financial institution borrowings | 1.5 (7.60%) |
| Meet long-term working capital requirements | 3.25 (16.46%) |
| General corporate purposes | 4.99 (25.28%) |
Strengths
- Provides integrated material handling solutions through equipment rental, trading, maintenance and trained operators.
- Rental business includes AMC-backed maintenance, preventive servicing and technical support to reduce customer downtime.
- Promoters have extensive experience in the material handling equipment industry, supported by a technically skilled management team.
- Authorised dealership relationships with international manufacturers help provide quality and safety-compliant equipment.
- Focus on workforce training and quality assurance supports reliable service delivery and operational efficiency.
Risks
- A significant portion of revenue comes from a limited number of customers, making customer concentration a key risk.
- The business depends on borrowing, and the inability to service or refinance debt could affect operations.
- Operations rely on the availability and performance of material handling equipment, where breakdowns or damage may disrupt business.
- The company depends on third-party suppliers and manufacturers for material handling equipment and related products.
- Rising competition and changes in demand for material handling equipment and rental services could impact revenue and profitability.