Sumax Engineering IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 121.28x |
| NII | 270.7x |
| sNII (₹2L–₹10L) | 180.9x |
| bNII (above ₹10L) | 315.6x |
| Retail (RII) | 158.98x |
| Total | 162.94x |
Bidding day 4 · final figures at close of bidding: 2 Sept 2026, 6:30 pm IST
IPO Details
- Open Date
- 25 Aug 2026
- Close Date
- 28 Aug 2026
- Listing Date
- 2 Sept 2026
- Face Value
- ₹10
- Fresh Issue
- ₹40.65 Cr
- OFS
- ₹10.06 Cr
- Listing On
- NSE
- Registrar
- KFin Technologies (KFintech)
The fresh issue is money for the company; the OFS goes to selling shareholders. Fresh issue vs offer for sale, explained
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,42,400 |
| HNI (Min) | 3 | 3,600 | ₹3,63,600 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| Anchor | 14,35,200 | 28.59% |
| QIB (ex-anchor) | 9,74,400 | 19.41% |
| NII | 7,27,200 | 14.48% |
| — sNII (< ₹10L) | 2,42,400 | 4.83% |
| — bNII (> ₹10L) | 4,84,800 | 9.66% |
| Retail | 16,92,000 | 33.7% |
| Employee | 1,92,000 | 3.82% |
| Total | 50,20,800 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 131.54 | 7.43 | 11.63 | 38.86 | 54 | 6.43 | — |
| FY 2025 | 147.18 | 9.98 | 15.03 | 48.84 | 66.14 | 7.75 | — |
| FY 2026 | 148.34 | 12.76 | 19.08 | 61.6 | 84.81 | 13.06 | 8.66 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 11.66x
- P/E (post-issue)
- 15.05x
- RoNW
- 20.71%
- RoE
- 23.1%
- RoCE
- 23.86%
- Debt / Equity
- 0.21
- EPS (pre-issue)
- ₹8.66
- EPS (post-issue)
- ₹6.71
- EBITDA Margin
- 12.86%
- PAT Margin
- 8.64%
- P/BV
- 2.41x
- NAV / share
- ₹41.83
- Market Cap
- ₹192.13 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Funding of Capital Expenditure towards Construction of proposed manufacturing Unit I at Plot No-E-185, RIICO IND Area Karoli Teh Tapukara, Rajasthan | ₹4.89 Cr |
| Funding of Capital Expenditure towards Construction of proposed manufacturing Unit II at Plot No. P 32 Street No. B, Sector 11, Model Economic Township, Village - Nimana, Tehsil Badli, District - Jhajjar, State Haryana | ₹16.62 Cr |
| Funding working capital requirements of the company | ₹12 Cr |
| General corporate purposes | ₹5.8 Cr |
| Issue Expenses | ₹4.03 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Book Running Lead Manager Fees | ₹0.3 Cr |
| Underwriting Fees | ₹2.67 Cr |
| Fees payable to the Market maker to the Offer | ₹0.1 Cr |
| Fees payable to the Registrar to the Offer | ₹0.05 Cr |
| Fees payable for Advertising and Publishing Expense | ₹0.15 Cr |
| Fees payable to Regulators including Stock Exchange & Depositories | ₹0.14 Cr |
| Payment for Printing & Stationary, Postage etc | ₹0 Cr |
| Fees payable to statutory auditors, Legal Advisors & other Professionals | ₹0.5 Cr |
| Other Expense | ₹0.11 Cr |
Promoters & Shareholding
Promoters: <p>Sudeep Mehta, Smriti Mehta</p>
- Holding (pre-issue)
- 96.73%
- Holding (post-issue)
- 69.67%
- Dilution
- 27.06%
Documents
Anchor Investors
| Investor | Category | Shares | Price | Amount ₹Cr | Allocation |
|---|---|---|---|---|---|
| AARTH AIF GROWTH FUND | Other | 2,49,600 | ₹101 | 2.52 | 17.39% |
| VIKASA INDIA EIF I FUND-SHARE CLASS P | Other | 1,99,200 | ₹101 | 2.01 | 13.88% |
| WHITEOAK CAPITAL EQUITY FUND | Other | 1,99,200 | ₹101 | 2.01 | 13.88% |
| VENTUREX FUND I | Other | 1,82,400 | ₹101 | 1.84 | 12.71% |
| KRS GROWTH OPPORTUNITIES FUND | Other | 1,00,800 | ₹101 | 1.02 | 7.02% |
| TEAL RISE FUND-I | Other | 1,00,800 | ₹101 | 1.02 | 7.02% |
| EVERGROW CAPITAL OPPORTUNITIES FUND | Other | 1,00,800 | ₹101 | 1.02 | 7.02% |
| CAPRIZE INDIA OPPORTUNITIES FUND INVESTMENT ACCOUNT | Other | 1,00,800 | ₹101 | 1.02 | 7.02% |
| IMAP INDIA CAPITAL INVESTMENT TRUST-CATALYST NEW INDIA FUND | Other | 1,00,800 | ₹101 | 1.02 | 7.02% |
| TIGER STRATEGIES FUND 1 | Other | 1,00,800 | ₹101 | 1.02 | 7.02% |
Anchor bidding took place on 24 Aug 2026. Anchor lock-in: 50% of shares unlock on 30 Sept 2026, the remainder on 29 Nov 2026.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the Sumax Engineering IPO
The Sumax Engineering SME IPO runs from 25 Aug 2026 to 28 Aug 2026, offered at a price band of ₹95–101 per share, and is set to list on NSE. The company is looking to raise ₹53.4 crore through the offer. Retail investors bid in lots of 1200 shares, a minimum application of ₹2,42,400.
Issue structure
The offer combines a fresh issue of ₹40.65 crore with an offer for sale (OFS) of ₹10.06 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward funding of capital expenditure towards construction of proposed manufacturing unit ii at plot no. p 32 street no. b, sector 11, model economic township, village - nimana, tehsil badli, district - jhajjar, state haryana (₹16.62 crore), alongside funding working capital requirements of the company (₹12 crore). In all, 5 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Sumax Engineering reported revenue of ₹148.34 crore and a net profit of ₹12.76 crore. Revenue grew from ₹131.54 crore in FY2024 to ₹148.34 crore in FY2026 (+13.0%). Net worth stood at ₹61.6 crore at the end of FY2026. At the upper band, that puts the issue at roughly 11.7× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 15.05× post-issue earnings and 2.41× book value, against a return on net worth of 20.71% and a debt-to-equity ratio of 0.21. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Sudeep Mehta, Smriti Mehta</p>. Promoter holding stands at 96.73% before the issue and comes down to 69.67% after listing.
Grey market premium (GMP)
In the unofficial grey market, Sumax Engineering shares are quoted at a premium of ₹22 implying an expected listing around ₹123, about +21.8% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Sumax Engineering IPO was subscribed 162.94 times overall. The strongest demand came from non-institutional investors (NII) at 270.7 times, with qualified institutional buyers (QIB) at 121.28× and retail investors at 158.98×.
Listing performance
Sumax Engineering listed on 2 Sept 2026 at ₹111, a premium of +9.9% over the issue price of ₹101.
What to weigh
When evaluating the Sumax Engineering IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Sumax Engineering
Incorporated in 1994, Sumax Engineering Limited is engaged in providing engineering and infrastructure solutions, with a focus on execution of industrial and construction-related projects. It offers services across various sectors including civil engineering, fabrication, and project management. The company specialises in delivering turnkey projects, ensuring end-to-end execution from planning to completion. Its capabilities include structural work, mechanical services, and support for industrial development projects. The company is engaged in both the manufacturing and trading of a diverse range of products tailored for the Automotive OEM (Original Equipment Manufacturer) Market and Auto Refinish Market. The manufacturing division specializes in producing high-quality adhesive tapes and die-cuts, rubbing and polishing compounds, buffing pads, reflective tapes and printing solutions, domes and graphics, as well as an extensive range of car care products. Product Portfolio: Manufacturing: Adhesive Tapes and Die-cuts, Pre-Taped Masking Film, Rubbing, Polishing Compounds, Buffing Pads and Foam Pads, Reflective Tapes, Domes and Graphics, Car Care Products. Trading: Tools (Electrical and Pneumatic), Abrasive Sheets, Discs & Rolls, Body Shop Consumables, Retail Products, Accessories, Aerosol Product. Competitive Strengths: Experienced Promoters, management and operating team Comprehensive Product Range Strong Industry Relationships Advanced In-House Processing Facilities Focused on Cost Competitiveness Efficient Logistics and Supply Chain Management
Sumax Engineering — Contact Details
- Registered office
- Plot No.45, Shanthinikethan Colony,, Mahendra Hills,, East Marredpally,, Secunderabad, Telangana, 500026
- Phone
- +91 78931 66698
- Website
- sumaxindia.com/
- Registrar (IPO queries)
- sumax.ipo@kfintech.com
Frequently asked questions
- What is the Sumax Engineering IPO price band?
- The Sumax Engineering IPO price band is ₹95 to ₹101 per share, with a lot size of 1200 shares.
- What was the Sumax Engineering IPO GMP before listing?
- The final grey market premium recorded before the Sumax Engineering IPO listed was ₹22. The IPO listed on 2 Sept 2026 at ₹111, +9.9% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Sumax Engineering IPO open and close?
- The Sumax Engineering IPO opens on 25 Aug 2026 and closes on 28 Aug 2026.
- When is the Sumax Engineering IPO allotment and listing date?
- Allotment is expected on 31 Aug 2026. The shares are scheduled to list on 2 Sept 2026 on NSE.
- How many times was the Sumax Engineering IPO subscribed?
- The Sumax Engineering IPO was subscribed 162.94 times in total across all investor categories.
- What is the reservation split in the Sumax Engineering IPO?
- Of the total shares offered, retail investors get 33.7%, QIBs 19.41% (plus 28.59% anchor), non-institutional investors 14.48%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Sumax Engineering and what is their holding?
- The promoters are <p>Sudeep Mehta, Smriti Mehta</p>. Promoter holding is 96.73% before the issue and 69.67% after listing.
- What is the P/E ratio of the Sumax Engineering IPO?
- At the upper price band, the Sumax Engineering IPO is valued at 11.66× pre-issue earnings and 15.05× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Sumax Engineering IPO?
- The net proceeds go primarily toward funding of capital expenditure towards construction of proposed manufacturing unit ii at plot no. p 32 street no. b, sector 11, model economic township, village - nimana, tehsil badli, district - jhajjar, state haryana, among 5 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Sumax Engineering IPO?
- The book-running lead manager is GYR Capital Advisors Pvt.Ltd.. KFin Technologies (KFintech) is the registrar to the issue.
- Is Sumax Engineering a Mainboard or SME IPO?
- Sumax Engineering is an SME IPO, listing on NSE (SME platform).