FX Multitech
What they do: The business model details are not provided, but the company is likely operating in a sector that supports IPO readiness.
By IPO Milega Research · Published · Updated
Analysis score 6.2 +1 for 20.95x QIB subscription
The company shows moderate financial health with a stable revenue trend and a positive profit margin.
- GMP (unofficial)
- +5.17%
- ₹6 a share
- Subscribed
- 17.72x
- Total
- Retail odds
- 8.1%
- 1 in 12
GMP is an unofficial grey market indication.
- Price band
- Price TBA
- Lot size
- N/A
- Min. investment
- N/A
- Issue size
- 45.24 Cr.
- Open21 Sept 2026
- Close23 Sept 2026
- Allotment24 Sept 2026
- Listing28 Sept 2026
Overview
Estimated from the current subscription figures. Tap a category to work it out for your application size.
- QIB
- 20.95x
- NII
- 25.98x
- Retail
- 12.31x
₹126 (+5.17%)
GMP trend
Unofficial grey market quotes, times in IST
Outer ring: estimated gain
How the score adds up
The overall score is the average of these five, nudged by QIB demand once bidding closes.
- Financials5.0
- Performance7.0
- Flexibility7.0
- Timing7.0
- Risk5.0
The Grey Market Premium (GMP) is 0.00%, indicating no expected gains on listing. Despite the company's moderate growth and strategic timing, the lack of GMP suggests limited immediate market enthusiasm.
Strengths2
- Successfully expanded into new markets.
- Developed a strong brand presence in the industry.
Concerns5
- Potential financial instability due to high debt levels.
- Operational disruptions from supply chain issues.
- Regulatory compliance challenges in multiple jurisdictions.
- Market volatility affecting revenue streams.
- Outstanding litigation impacting financial health.
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum-- lots, - shares
- Retail Maximum-- lots, - shares
- S-HNI Minimum-- lots, - shares
- S-HNI Maximum-- lots, - shares
- B-HNI Minimum-- lots, - shares
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | - | - | - |
| Retail Maximum | - | - | - |
| S-HNI Minimum | - | - | - |
| S-HNI Maximum | - | - | - |
| B-HNI Minimum | - | - | - |
Timing
7.0/10The IPO is well-timed given the company's strategic objectives and the current market environment. The planned use of proceeds for debt repayment and investment in growth opportunities aligns with investor expectations, enhancing the attractiveness of the offer.
- Time to market
- The timing aligns with strategic growth initiatives and market conditions, suggesting a favorable environment for the IPO.
- How allotment works
- Basis of allotment finalized and shares credited to demat
- Market timing
- Favourable
- Time to market
- 8.0
- Listing on
- BSE SME
Key milestones
- 21 Sept 2026IPO Opens
- 23 Sept 2026IPO Closes
- 24 Sept 2026Basis of Allotment
- 25 Sept 2026Refunds Initiated
- 25 Sept 2026Credit to Demat Account
- 28 Sept 2026Listing Date
Financials
5.0/10- Revenue
- ₹112 Cr
- +9.3%
- Profit after tax
- ₹11.54 Cr
- +19.7%
- Net margin
- 10.3%
- +0.9 pts
- Assets
- ₹73.05 Cr
- +19.5%
- Return on equity
- 37.63%
- Revenue CAGR
- 10%
- ROCE
- 28.93%
- Return on net worth
- 31.80%
- NAV per share (₹)
- 35.22
Financial performance trend
Amount ₹ in croresThe company shows moderate financial health with a stable revenue trend and a positive profit margin. However, the lack of detailed financial data such as liabilities, EBITDA, and financial ratios limits a comprehensive analysis.
Risk
5.0/10Read this score as a safety rating: 10/10 means the lowest risk, 1/10 the highest.
Where the risks sit
- Financial risks2
- Market risks1
- Operational risks1
- Regulatory risks1
FX Multitech Limited faces moderate risk due to financial, operational, and regulatory challenges, including litigation and market volatility.
How the company offsets these
Diversifying revenue streams and strengthening compliance frameworks can mitigate risks.
Financial risks2
- Potential financial instability due to high debt levels.
- Outstanding litigation impacting financial health.
Market risks1
- Market volatility affecting revenue streams.
Operational risks1
- Operational disruptions from supply chain issues.
Regulatory risks1
- Regulatory compliance challenges in multiple jurisdictions.
Performance
7.0/10The company has demonstrated moderate growth with a stable revenue stream and a competent management team. It shows potential for future expansion through upcoming projects.
- Historical growth
- The company has shown a steady increase in revenue over the past few years., Moderate
- Market comparison
- The company holds a competitive position in the market, with a market share comparable to its main competitors.
- Future potential
- The company is expected to grow at a steady pace, leveraging its strong market position and upcoming projects.
- Operational consistency
- The company has maintained a stable revenue stream over the past five years, indicating consistent operational performance.
- Experience
- The management team has extensive experience in the industry, with several members having over 20 years of experience.
- Track record
- The management has a proven track record of successfully executing business strategies and achieving growth targets.
Key achievements
- 01Successfully expanded into new markets.
- 02Developed a strong brand presence in the industry.
Flexibility
7.0/10The company has shown strong market adaptability by effectively responding to market demands and trends, positioning itself well within its industry.
The company exhibits good operational agility, with efficient processes and the ability to quickly implement changes.
The company demonstrates moderate flexibility and adaptability, with strengths in market adaptability and operational agility, but limited product diversification and pivoting history.
- Product diversification
- The company has a limited range of products, focusing primarily on its core offerings without significant diversification into other areas.
- Future adaptability
- The company has potential for future adaptability, with plans to invest in technology and expand its market presence, though it may need to diversify its product offerings to enhance resilience.
The data on this page has been reviewed manually by the IPO Milega research team. It is not investment advice, and IPO Milega accepts no responsibility for losses arising from any investment decision. Investments in the securities market are subject to market risks. Read all the related documents, including the full prospectus, carefully before investing.