FX Multitech IPO
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FX Multitech IPO details
Schedule of FX Multitech
| Issue open date | 21 Sep 2026 |
| Issue close date | 23 Sep 2026 |
| UPI mandate deadline | 23 Sep 2026 (5 PM) |
| Allotment finalization | 24 Sep 2026 |
| Refund initiation | 25 Sep 2026 |
| Share credit | 25 Sep 2026 |
| Listing date | 28 Sep 2026 |
| Mandate end date | 08 Oct 2026 |
| Lock-in end date for anchor investors (50%) | 23 Oct 2026 |
| Lock-in end date for anchor investors (remaining) | 22 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 FX Multitech
FX Multitech Limited is an engineering product distribution company operating primarily in the heating, ventilation, air conditioning, and industrial refrigeration sector. The company procures its entire product range from third-party manufacturers, relying heavily on a single primary supplier for a major portion of its purchases, and distributes these products across key regional markets. Additionally, it provides technical support, product handling, and associated services through established logistics networks. FX Multitech holds a 51% controlling equity stake in Everestt Chillers Private Limited, an in-house manufacturing subsidiary based in Coimbatore, Tamil Nadu, that produces customized industrial chillers, glycol chillers, chilled-water air conditioners, and effluent chillers. Its revenue is primarily generated through product sales, distribution commissions, and technical service delivery within the industrial refrigeration and engineering components segment.
Financials of FX Multitech
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 45.24 |
| Fresh Issue – Proceeds go to the company | 41.20 |
| Offer for sale – Proceeds go to the existing investors | 4.04 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Repayment / pre-payment of borrowings | 10 (24.27%) |
| Investment in the subsidiary Everestt Chillers Pvt. Ltd. |
6.26 (15.19%) |
| Funding working capital requirements | 14.83 (35.99%) |
| General corporate purposes | 10.11 (24.55%) |
Strengths
- Key distributor partnerships with leading global HVAC equipment manufacturers.
- Forward integration via 51% controlling stake in manufacturing subsidiary Everestt Chillers.
- Diverse range of HVAC and industrial refrigeration product offerings.
- Strong customer footprint across key industrial states in India.
- Experienced promoter and key managerial leadership in engineering distribution.
Risks
- High supplier concentration with over 70% of purchases from a single supplier.
- Absence of long-term contracts, relying primarily on spot purchase orders.
- Geographical concentration with major revenues coming from the top three states.
- Instances of past procedural lapses and delayed statutory corporate filings.
- Substantial working capital requirements alongside recent negative operating cash flows.