In an exciting development, Amtech Esters Ltd. has taken a significant step towards its Initial Public Offering (IPO) by refiling its Draft Red Herring Prospectus (DRHP) on May 31, 2026 with the the BSE SME Notably, this company had previously submitted its IPO documents on January 13, 2025.
A Snapshot of the Company
Amtech Esters Limited was incorporated in May 2002 and converted into a public limited company in December 2023. The company is engaged in the B2B manufacturing of Unsaturated Polyester Resins (UPRs) and trading of complementary products such as fiberglass, hardeners, silicones, and other ancillary materials used across industrial applications.
IPO Details and Strategic Objectives:
As per DRHP filled on May 31, 2026, the company is planning to offer fresh issue of 0.24 crore equity shares.
Allocation strategy includes Not more than 50.00% of the Net offer for Qualified Institutional Buyers (QIBs), Not less than 15.00% of the Net Offer for Non-Institutional Investors and Not less than 35% of the Offer for Retail Individual Biddersrespectively.
Amtech Esters IPO Purpose
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | 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 |
| 2 | Repayment or prepayment, in full or in part, of certain borrowings availed by the Company | 4.20 |
| 3 | Funding inorganic growth through unidentified acquisitions and general corporate purposes | |
| Total | 13.01 |
Financial Performance Highlights:
Amtech Esters Ltd.’s total income grew by 35%, reached ₹36.97 crore in Mar 31, 2025, compared to ₹27.24 crore in Mar 31, 2024.
For the same period, profit after tax jumped 31% to ₹3.72 crore, compared to ₹2.84 crore.
For the latest period ended on Nov 30, 2025, its total income stood at ₹25.75 crore and PAT stood at ₹2.44 crore.
Key IPO Management Team
Leading the charge, the Book-Running Lead Manager (BRLM) for the IPO is Credora Partners Pvt.Ltd., with Maashitla Securities Pvt.Ltd. entrusted as the Issue Registrar.
