Amtech Esters IPO
Upcoming SMEAlready have an account? Apply now
Amtech Esters IPO details
Schedule of Amtech Esters
| Issue open date | 09 Sep 2026 |
| Issue close date | 11 Sep 2026 |
| UPI mandate deadline | 11 Sep 2026 (5 PM) |
| Allotment finalization | 15 Sep 2026 |
| Refund initiation | 16 Sep 2026 |
| Share credit | 16 Sep 2026 |
| Listing date | 17 Sep 2026 |
| Mandate end date | 26 Sep 2026 |
| Lock-in end date for anchor investors (50%) | 14 Oct 2026 |
| Lock-in end date for anchor investors (remaining) | 13 Dec 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 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.
Financials of Amtech Esters
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 17.88 |
| Fresh Issue – Proceeds go to the company | 17.88 |
Utilisation of proceeds
| 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%) |
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.
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.