Admach Systems Ltd IPO
Status: Closed
Overview
IPO date
23 Dec 2025 to 26 Dec 2025
Face value
₹ 10 per share
Price
₹ 227 to ₹239 per share
Issue Size
1,782,600 shares
(aggregating up to ₹ 42.6 Cr)
(aggregating up to ₹ 42.6 Cr)
Allotment Date
29 Dec 2025
Listing at
NSE
Issue type
Book Building - SME
Sector
Engineering
Objectives of Admach Systems Ltd IPO
Admach Systems Ltd IPO Strategy
About Admach Systems Ltd
Unlock Stock of the Month
T&C*
Strengths vs Risks of Admach Systems Ltd
Know the pros & cons
Strengths
Multi-product capability.- Established infrastructure and integrated production with cost efficiencies.
- Core Focus on consistent R&D, value engineering and to leverage complex technology.
- Focus on Quality, Environment, Health and Safety.
- Experienced Promoters and management team.
- Long standing relationships with diversified customers across geographies.
Risks
- The company business is dependent on the performance of Steel and Non-Destructive Testing equipment industry with a large portion of revenue being derived from it. Any downturn in these industries can adversely impact its business, results of operations, cash flow and financial condition of the Company.
- The company are significantly dependent on the sale of its products namely, Steel Machines, Non-destructive testing equipment and Packaging machine. The company aggregate revenue from sale of Steel Machines accounted for 76.11%,88.48%, 55.13% and 33.66% of its revenue from operations for the period ended June 30,2025 and Fiscal 2025, 2024 and 2023 respectively. Failure to anticipate and adapt to changing consumer preferences or maintain product quality could harm demand for the company products, weaken brand loyalty, and negatively affect its business, financial results, and cash flow.
- The company derive its revenue from the domestic market and substantial portion of revenue from the region of Maharashtra. Any adverse developments affecting the company operations in this region, could have an adverse impact on its business, financial condition, results of operations and cash flows.
- The company does not has long-term agreements with most of its suppliers. Further, the company inability to accurately forecast demand for its products or manage the company inventory or working capital requirements may have an adverse effect on its business, results of operations and financial condition.
- The company manufacturing facility is located on property acquired pursuant to the Agreement of Assignment of Business dated November 30, 2009, and the ownership details in the revenue records have not yet been updated in the Company's name; failure to complete such recordal procedure may adversely affect its business, results of operations, financial condition, and cash flows.
- The Company is yet to place orders for 100% of the machineries for its proposed object, as specified in the Objects of the Issue. Any delay in placing orders, procurement of machineries may delay its implementation schedule and may also lead to increase in price of these machineries, further affecting the company revenue and profitability.
- The company Promoters have provided personal guarantees for the borrowings obtained by its Company and any failure or default by the Company to repay this loan could trigger repayment obligations on its Promoters which may impact their ability to effectively service their obligations and thereby, adversely impact the company business and operations.
- There are certain discrepancies/errors/delay filings noticed in some of the company corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
- The company top ten customers contribute majority of its revenues from operations. Any loss of business from one or more of them may adversely affect the company revenues and profitability. Further, its does not have any long-term commitments from customers and any failure to continue the company existing arrangements could adversely affect its business and results of operations. The substantial portion of the company revenue is currently significantly dependent on its top ten customers. Any loss of business from one or more of them may adversely affect the company revenues and profitability.
- The company require several approvals, licenses, registrations, and permits to operate its business and must comply with various rules, regulations, and conditions. Failure to obtain, retain, or renew such approvals, licenses, and permits in a timely manner, or to comply with the requisite rules and regulations, may adversely affect the company business, results of operations, financial condition, and cash flows.
- There have been certain delays noticed in some of the company employee-related statutory filings, particularly in relation to EPF and ESIC. Such delays may potentially result in compliance concerns and could, in turn, adversely affect its revenue from operations.
- There are changes in the auditors as the previous auditor did not possess peer review certificate.
- The Company applied for trademark registration, which is under process of registration. Its are unable to assure that the future viability or value of any of the company intellectual property or that the steps taken by its to protect the proprietary rights of the Company will be adequate.
- If the company fail to obtain, maintain or renew the statutory and regulatory licenses, permits and approvals required for its business and operations, the company business, results of operations, financial condition and cash flows may be adversely affected.
- Its cost of materials consumed accounted for 72.86 %,68.61%,45.53%,and 68.43%% of the company revenue from operations for the period ended June 30,2025, Fiscal 2025, 2024 and 2023 respectively. Inadequate or interrupted supply and price fluctuation of its raw materials and packaging materials could adversely affect the company business, results of operations, cash flows and financial condition.
- The company top ten suppliers contribute majority of its purchases. Any loss of business with one or more of them may adversely affect the company business operations and profitability.
- The company have certain amount of outstanding indebtedness, which requires significant cash flows to service and are subject to certain conditions and restrictions in terms of its financing arrangements, which restricts the company ability to conduct its business and operations in the manner the company desire.
- The company have certain contingent liabilities that have been disclosed in the Restated Financial Information, which if they materialize, may adversely affect its business, results of operations, financial condition and cash flows.
- The company insurance coverage may not be adequate, or its may incur uninsured losses or losses in excess of the company insurance coverage.
- Any slowdown or interruption to the company manufacturing operations or under-utilization of its existing or future manufacturing facilities may have an adverse impact on the company business, results of operations, financial condition and cash flows.
- Information in relation to the company installed capacity and capacity utilization of its manufacturing facilities included in this Red Herring Prospectus is based on various assumptions and estimates, and future production and capacity utilization may vary.
- The company success depends on stable and reliable logistics and transportation infrastructure of products to its customers and / or increase the company transportation costs, which may adversely affect its operations.
- The company business involves usage of manpower and any unavailability of its employees or any strikes, work stoppages, increased wage demands by workmen may have an adverse impact on the company cash flows and results of operations.
- If the company are not successful in managing its growth, the company business may be disrupted and its profitability may be reduced.
- In the absence of a technical software system to trace each equipment, the Company maintains certain raw material inventory yet to be utilised, which will be used in upcoming contracts / projects. Project-wise inventory of raw materials is not currently maintained, and the Company is in the process of implementing an ERP system for raw material and bought-out record keeping, expected to be operational by the end of this financial year.
- The directors of the Company does not possess experience of the listed company. Further, the requirements of being a listed company may strain its resources.
- Its have issued equity shares pursuant to a bonus issue prior to the Issue, and the company will be eligible to issue equity shares pursuant to a bonus issue only when its have sufficient reserves.
- The company face competition in its business from organized and unorganized players, which may adversely affect the company business operation and financial condition.
- The company have entered into and may enter into related party transactions in the future also.
- The company success is dependent on its management team, key managerial personnel and skilled manpower. The company inability to attract and retain key personnel or the loss of services of its key personnel may have an adverse effect on the company business prospects.
- The company has not commissioned an industry report for the disclosures made in the section titled `Industry Overview' and made disclosures on the basis of the data available on the internet and such data has not been independently verified by the company.
- The company funding requirements and proposed deployment of the net proceeds are based on management estimates and has not been independently appraised and may be subject to change based on various factors, some of which are beyond the company control.
- Delay in raising funds from the IPO could adversely impact the growth rate.
- The company ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- The company Promoter and members of the Promoter Group will continue jointly to retain majority control over its Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
- The requirements of being a listed company may strain its resources.
- Any further issuance of Equity Shares, or convertible securities or other equity linked instruments by the company may dilute your shareholding.
- If the company are unable to source business opportunities effectively, its may not achieve the company financial objectives.
- Changing regulations in India could lead to new compliance requirements that are uncertain. The regulatory environment in which the company operate is evolving and is subject to change.
- Any Penalty or demand raise by statutory authorities in future will affect its financial position of the Company.
- This Red Herring Prospectus contains certain non-GAAP financial measures and certain other selected statistical information related to the company operations and financial performance. These non-GAAP measures and statistical information may vary from any standard methodology that is applicable across the manufacturing industry, and therefore may not be comparable with financial or statistical information of similar nomenclature computed and presented by other manufacturing companies.
- There are restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
Admach Systems Ltd Peer Comparison
Understand the company’s industry standing
Admach System Limited
Affordable Robotic & Automation Limited
Bemco Hydraulics Limited
Face Value
10
10
10
Standalone / Consolidated
Standalone
Standalone
Standalone
Total Income Rs. Cr.
53.36
160.47
82.77
EPS-Basis
12.57
5.32
42.09
EPS-Diluted
12.57
5.32
42.09
NAV Per Share
44.14
98.97
313.9
P/E-Basic EPS
---
41.72
2.52
P/E-Diluted EPS
---
---
---
RONW(%)
27.69
5.38
15
Latest NAV Period
---
---
---
Latest NAV
---
---
---
How to check the allotment status of Admach Systems Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
IPO reads
Stay updated with the latest IPO developments
February 27, 2025 | 5 min read
₹50.11 Cr Balaji Phosphates IPO Opens Feb 28. Issue Details and SWOT Analysis
February 25, 2025 | 5 min read
Tata Capital Board Approves ₹15,000 Cr Plus Mega IPO; Tata Investment Shares Soar 8%
February 18, 2025 | 5 min read
Busy Week Ahead: 2 SME IPOs and 9 Market Listings – Get the Complete Details Here
October 25, 2024 | 5 min read
Waaree Energies IPO: GMP Soars 106% Amid 76.34x Subscription – Check Your Allotment Status!
October 22, 2024 | 5 min read
Upcoming IPOs: 9 Public Issues Set to Raise ₹10,984.8 Cr – Key Insights Inside!
October 17, 2024 | 5 min read
Hyundai IPO Hits a Speed Bump With 42% Subscription On Day 2 : 4 Reasons Why
September 6, 2024 | 5 min read
Bajaj Housing Finance IPO: All You Need to KnowOctober 17, 2024 | 5 min read
Hyundai IPO Hits a Speed Bump With 42% Subscription On Day 2 : 4 Reasons Why
August 26, 2024 | 5 min read
Premier Energies IPO: Key Details Ahead of the ₹2,830.40 Cr Issue LaunchMore on IPOs
Navigate your way to other IPO resources
Latest videos on IPOs
IPO highlights & details!
FAQs on IPO
Get answers to all your questions here!
The IPO opens on 23 Dec 2025 & closes on 26 Dec 2025.
Admach Systems Limited was originally incorporated on February 29, 2008 as Admach Systems Private Limited', and was granted a certificate of incorporation by the Registrar of Companies, Pune, Maharashtra. Company was converted into a public limited company and the name of Company was changed to Admach Systems Limited' vide fresh certificate of incorporation dated October 10, 2024 issued by the Registrar of Companies, Central Processing Centre.
The Company was incorporated with the primary objective of designing and developing special purpose machines for the Indian and global engineering industries, with a focus on steel, automotive, food processing, and packaging sectors. The Company has skills in special-purpose machines, automation, assembly, packaging, product design, and robotic material handling systems. It offer a wide range of specialized machines, along with comprehensive after-sales support, including maintenance, repair, and technical services, to ensure optimal product performance throughout their lifecycle.
Apart from this, Company works a production capacity installed of 100 units per year for its range of products, including automation systems for machine tools, press machines, special purpose machines, material handling systems, and various robotic and testing systems. In FY2024-25, the Company operated at full capacity, producing 100 units and achieving 100% capacity utilization.
Company is planning the IPO of issuing 18,00,000 Equity Shares of Rs 10 each through Fresh Issue.
Admach Systems Ltd IPO will close on 26 Dec 2025.
- Multi-product capability.
- Established infrastructure and integrated production with cost efficiencies.
- Core Focus on consistent R&D, value engineering and to leverage complex technology.
- Focus on Quality, Environment, Health and Safety.
- Experienced Promoters and management team.
- Long standing relationships with diversified customers across geographies.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Ajay Chamanlal Longani | 3383386 | 67.8 | 3450586 | 50.95 |
| 2 | Rajni Ajay Longani | 67660 | 1.36 | 67660 | 0.1 |
| 3 | Mahesh Chamanlal Longani | 33830 | 0.68 | 33830 | 0.5 |
| 4 | Sonal Mahesh Longani | 33830 | 0.67 | 33830 | 0.5 |
| 5 | Mahek Ajay Longani | 33830 | 0.68 | 33830 | 0.5 |
| 6 | Piya Ajay Longani | 33830 | 0.68 | 33830 | 0.5 |
- The company business is dependent on the performance of Steel and Non-Destructive Testing equipment industry with a large portion of revenue being derived from it. Any downturn in these industries can adversely impact its business, results of operations, cash flow and financial condition of the Company.
- The company are significantly dependent on the sale of its products namely, Steel Machines, Non-destructive testing equipment and Packaging machine. The company aggregate revenue from sale of Steel Machines accounted for 76.11%,88.48%, 55.13% and 33.66% of its revenue from operations for the period ended June 30,2025 and Fiscal 2025, 2024 and 2023 respectively. Failure to anticipate and adapt to changing consumer preferences or maintain product quality could harm demand for the company products, weaken brand loyalty, and negatively affect its business, financial results, and cash flow.
- The company derive its revenue from the domestic market and substantial portion of revenue from the region of Maharashtra. Any adverse developments affecting the company operations in this region, could have an adverse impact on its business, financial condition, results of operations and cash flows.
- The company does not has long-term agreements with most of its suppliers. Further, the company inability to accurately forecast demand for its products or manage the company inventory or working capital requirements may have an adverse effect on its business, results of operations and financial condition.
- The company manufacturing facility is located on property acquired pursuant to the Agreement of Assignment of Business dated November 30, 2009, and the ownership details in the revenue records have not yet been updated in the Company's name; failure to complete such recordal procedure may adversely affect its business, results of operations, financial condition, and cash flows.
- The Company is yet to place orders for 100% of the machineries for its proposed object, as specified in the Objects of the Issue. Any delay in placing orders, procurement of machineries may delay its implementation schedule and may also lead to increase in price of these machineries, further affecting the company revenue and profitability.
- The company Promoters have provided personal guarantees for the borrowings obtained by its Company and any failure or default by the Company to repay this loan could trigger repayment obligations on its Promoters which may impact their ability to effectively service their obligations and thereby, adversely impact the company business and operations.
- There are certain discrepancies/errors/delay filings noticed in some of the company corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
- The company top ten customers contribute majority of its revenues from operations. Any loss of business from one or more of them may adversely affect the company revenues and profitability. Further, its does not have any long-term commitments from customers and any failure to continue the company existing arrangements could adversely affect its business and results of operations. The substantial portion of the company revenue is currently significantly dependent on its top ten customers. Any loss of business from one or more of them may adversely affect the company revenues and profitability.
- The company require several approvals, licenses, registrations, and permits to operate its business and must comply with various rules, regulations, and conditions. Failure to obtain, retain, or renew such approvals, licenses, and permits in a timely manner, or to comply with the requisite rules and regulations, may adversely affect the company business, results of operations, financial condition, and cash flows.
- There have been certain delays noticed in some of the company employee-related statutory filings, particularly in relation to EPF and ESIC. Such delays may potentially result in compliance concerns and could, in turn, adversely affect its revenue from operations.
- There are changes in the auditors as the previous auditor did not possess peer review certificate.
- The Company applied for trademark registration, which is under process of registration. Its are unable to assure that the future viability or value of any of the company intellectual property or that the steps taken by its to protect the proprietary rights of the Company will be adequate.
- If the company fail to obtain, maintain or renew the statutory and regulatory licenses, permits and approvals required for its business and operations, the company business, results of operations, financial condition and cash flows may be adversely affected.
- Its cost of materials consumed accounted for 72.86 %,68.61%,45.53%,and 68.43%% of the company revenue from operations for the period ended June 30,2025, Fiscal 2025, 2024 and 2023 respectively. Inadequate or interrupted supply and price fluctuation of its raw materials and packaging materials could adversely affect the company business, results of operations, cash flows and financial condition.
- The company top ten suppliers contribute majority of its purchases. Any loss of business with one or more of them may adversely affect the company business operations and profitability.
- The company have certain amount of outstanding indebtedness, which requires significant cash flows to service and are subject to certain conditions and restrictions in terms of its financing arrangements, which restricts the company ability to conduct its business and operations in the manner the company desire.
- The company have certain contingent liabilities that have been disclosed in the Restated Financial Information, which if they materialize, may adversely affect its business, results of operations, financial condition and cash flows.
- The company insurance coverage may not be adequate, or its may incur uninsured losses or losses in excess of the company insurance coverage.
- Any slowdown or interruption to the company manufacturing operations or under-utilization of its existing or future manufacturing facilities may have an adverse impact on the company business, results of operations, financial condition and cash flows.
- Information in relation to the company installed capacity and capacity utilization of its manufacturing facilities included in this Red Herring Prospectus is based on various assumptions and estimates, and future production and capacity utilization may vary.
- The company success depends on stable and reliable logistics and transportation infrastructure of products to its customers and / or increase the company transportation costs, which may adversely affect its operations.
- The company business involves usage of manpower and any unavailability of its employees or any strikes, work stoppages, increased wage demands by workmen may have an adverse impact on the company cash flows and results of operations.
- If the company are not successful in managing its growth, the company business may be disrupted and its profitability may be reduced.
- In the absence of a technical software system to trace each equipment, the Company maintains certain raw material inventory yet to be utilised, which will be used in upcoming contracts / projects. Project-wise inventory of raw materials is not currently maintained, and the Company is in the process of implementing an ERP system for raw material and bought-out record keeping, expected to be operational by the end of this financial year.
- The directors of the Company does not possess experience of the listed company. Further, the requirements of being a listed company may strain its resources.
- Its have issued equity shares pursuant to a bonus issue prior to the Issue, and the company will be eligible to issue equity shares pursuant to a bonus issue only when its have sufficient reserves.
- The company face competition in its business from organized and unorganized players, which may adversely affect the company business operation and financial condition.
- The company have entered into and may enter into related party transactions in the future also.
- The company success is dependent on its management team, key managerial personnel and skilled manpower. The company inability to attract and retain key personnel or the loss of services of its key personnel may have an adverse effect on the company business prospects.
- The company has not commissioned an industry report for the disclosures made in the section titled `Industry Overview' and made disclosures on the basis of the data available on the internet and such data has not been independently verified by the company.
- The company funding requirements and proposed deployment of the net proceeds are based on management estimates and has not been independently appraised and may be subject to change based on various factors, some of which are beyond the company control.
- Delay in raising funds from the IPO could adversely impact the growth rate.
- The company ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- The company Promoter and members of the Promoter Group will continue jointly to retain majority control over its Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
- The requirements of being a listed company may strain its resources.
- Any further issuance of Equity Shares, or convertible securities or other equity linked instruments by the company may dilute your shareholding.
- If the company are unable to source business opportunities effectively, its may not achieve the company financial objectives.
- Changing regulations in India could lead to new compliance requirements that are uncertain. The regulatory environment in which the company operate is evolving and is subject to change.
- Any Penalty or demand raise by statutory authorities in future will affect its financial position of the Company.
- This Red Herring Prospectus contains certain non-GAAP financial measures and certain other selected statistical information related to the company operations and financial performance. These non-GAAP measures and statistical information may vary from any standard methodology that is applicable across the manufacturing industry, and therefore may not be comparable with financial or statistical information of similar nomenclature computed and presented by other manufacturing companies.
- There are restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
The Issue type of Admach Systems Ltd is Book Building - SME.
The minimum application for shares of Admach Systems Ltd is 1200.
The total shares issue of Admach Systems Ltd is 1782600.
Initial public issue of up to 17,82,600 equity shares of face value of Rs. 10/- each ("Equity Shares") of Admach Systems Limited ("Company" or the "Issuer") for cash at a price of Rs. 227- Rs. 239 per equity share (including a share premium of Rs. 217-Rs. 229 per equity share) ("Issue Price") aggregating up to Rs. 40.47-Rs. 42.6 crores of which up to 89,400 equity shares of face value of Rs. 10 each for cash at a price of Rs. 227-Rs. 239 per equity share including a share premium of Rs. 217-Rs. 229 per equity share aggregating to Rs. 2.03-Rs. 2.14 will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. net issue of 16,93,200 equity shares of face value of Rs.10/- each at a price of Rs. 227-Rs. 239 per equity share aggregating to Rs. 38.44-Rs. 40.47 is herein after referred to as the "Net Issue". The issue and the net issue will constitute 26.32% and 25.00% respectively of the post issue paid up equity share capital of the company. The face value of equity shares is Rs. 10/- each. The issue price is 23.90 times the face value of the equity shares.
Price Band: Rs. 239/- per equity share of face value of
Rs. 10.00 each.
The floor price is 23.9 times the face value of equity shares.
Bids can be made for a minimum of 1,200 equity shares and in multiples of 600 equity shares thereafter.