Amtech Esters Limited

Total Issue Size

₹17.88 Cr

23,84,000 shares

Fresh Issue

₹17.88 Cr

23,84,000 shares

Offer for Sale

₹0 Cr

Face Value

₹10 per share

Issue Type

Book-built IPO

Listing At

BSE SME

Shares Pre-Issue

64,45,168

Shares Post-Issue

88,29,168

1. Offer opens

   9 Sept 2026

2. Offer closes

   11 Sept 2026

3. Allotment

   15 Sept 2026

4. Listing

   17 Sept 2026

• Anchor28.4%6,76,800 shares
• QIB19.0%4,52,800 shares
• HNI14.3%3,40,800 shares
• Retail33.3%7,93,600 shares
• MarketMaker5.0%1,20,000 shares

Incorporated in May 2002, Amtech Esters Limited is a B2B chemical manufacturing company engaged in the manufacturing of Unsaturated Polyester Resins (UPRs) and the trading of complementary products used across the resin and FRP value chain. The Company was originally incorporated as Amtech Esters Private Limited and was subsequently converted into a public limited company in December 2023. The Company's product portfolio includes Unsaturated Polyester Resins, fibreglass, hardeners, silicones and other ancillary products used in various industrial applications. By offering complementary products alongside its manufactured UPRs, the Company provides customers with an integrated sourcing solution catering to requirements ranging from base resins and reinforcement to curing, finishing and application-specific consumables. The Company also operates through its wholly owned subsidiary, Croda Pigments Private Limited (CPPL), which is engaged in the manufacturing of pigments used as colourants and additives in paints, varnishes, dyes, glues, gums and other chemical applications. The subsidiary complements and expands the Company's overall product portfolio and operations. Amtech Esters has established Research & Development and Quality Control departments to support product development, process improvement and quality consistency. The Company holds ISO 9001:2015 certification, reflecting its focus on maintaining standardized quality control processes. The Company operates manufacturing facilities at Bahadurgarh, Jhajjar, Haryana, equipped with modern and automated plant and machinery. As of March 31, 2026, the Company had 60 employees across production, sales and marketing, quality control, packaging and dispatch, finance, legal, human resources and management functions. Competitive Strengths ISO 9001:2015 certified manufacturing processes. Diversified product portfolio catering to a broad customer base. Integrated sourcing solutions across the resin and FRP value chain. Strong quality assurance supported by R&D and quality control capabilities. Modern manufacturing facilities equipped with automated plant and machinery. Synergistic operations with its wholly owned subsidiary, Croda Pigments Private Limited. Experienced Promoter and senior management supported by a knowledgeable sales team.

• 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 Cr)
• Repayment or prepayment, in full or in part, of certain borrowings availed by the Company (₹3.98 Cr)
• Funding inorganic growth through unidentified acquisitions and general corporate purposes (₹2.88 Cr)
• Issue Expense (₹2.20 Cr)

• <p>Ajit Singh Bawa
• Gurpreet Kaur Bawa
• Meenakshi Sharma</p>

Book running lead managers

• Credora Partners Pvt.Ltd.

Registered office

Flat No. 102, Plot No. A – 3, Magnum House 1, Commercial Complex, Karam Pura, West Delhi, New Delhi, 110015

Market maker

Nikunj Stock Brokers Ltd.

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