Sumax Engineering IPO Day 1: Subscription status, review — here's what you need to know
- Sumax Engineering IPO opened on Day 1 with a total subscription of 1.18x.
- Retail investors showed strong interest, surging 75.4% to 2.14x by midday.
- QIB category remained flat at 0x, while NII (bHNI) rose to 0.75x.
- The company reported FY2026 revenue of ₹147.69 crores and PBT of ₹17.24 crores.
- The issue closes on August 28, 2026, with a price band of ₹95 - ₹101.
*this image is generated using AI for illustrative purposes only.
Sumax Engineering’s IPO opened today, recording a total subscription of 1.18x on Day 1. Retail investors led the interest with a 75.4% jump to 2.14x, while Qualified Institutional Buyers (QIB) remained flat at 0x. The issue remains open for three more days.
Subscription Status
On Day 1 (25-08-2026), the Sumax Engineering IPO saw significant momentum in the afternoon. While the morning snapshot showed a modest 0.69x subscription, numbers ticked up sharply by midday. Retail investors drove this surge, jumping from 1.22x to 2.14x (+75.4%). Non-Institutional Investors (NII) also picked up pace, with bHNI rising 70.5% to 0.75x. QIB participation remained nil throughout the day.
| Category | Subscription Multiple |
|---|---|
| QIB | 0.00x |
| NII (bHNI) | 0.75x |
| NII (sHNI) | 0.25x |
| Retail | 2.14x |
| Total | 1.18x |
Intra-day timeline on 25-08-2026
The subscription numbers remained static in the morning before picking up pace after 11 am.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 0.44x | 1.22x | 0.69x |
| 12:15 | 0.00x | 0.75x | 2.14x | 1.18x |
Subscription progression
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 25-08-2026 | 0.00x | 0.75x | 0.25x | 2.14x | 1.18x |
About the Company
Sumax Engineering Limited, founded in 1994, is engaged in the manufacturing and trading of automotive products for OEM and Auto Refinish markets. Its manufacturing division specializes in adhesive tapes, die-cuts, rubbing compounds, and car care products. The company is managed by MD Sudeep Mehta and CEO Smriti Mehta, leveraging over 30 years of experience in the automotive OEM industry.
Financial Highlights
Sumax Engineering reported revenue from operations of ₹147.69 crores for FY2026, up from ₹146.13 crores in FY2025 and ₹130.79 crores in FY2024. Profit before tax increased to ₹17.24 crores in FY2026 from ₹13.44 crores in FY2025. Total equity stood at ₹61.62 crores as of March 2026.
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations (₹ crores) | 130.79 | 146.13 | 147.69 |
| Profit Before Tax (₹ crores) | 10.02 | 13.44 | 17.24 |
| Total Equity (₹ crores) | 38.87 | 48.86 | 61.62 |
Objects of the Issue
- Funding Capital Expenditure towards Construction of proposed manufacturing Unit I in Rajasthan: ₹4.89 crores
- Funding Capital Expenditure towards Construction of proposed manufacturing Unit II in Haryana: ₹16.62 crores
- Funding working capital requirements of the company: ₹12.00 crores
- General corporate purposes: ₹ lakhs
Risk Factors
- Rising costs and supply disruptions due to heavy reliance on imports (76.65% of purchases) from countries like China and Portugal.
- Heavy reliance on top 10 customers, who contributed 55.59% of total sales in Fiscal 2026.
- Complete dependence on the automotive industry, which accounts for 100% of revenue.
Offer Details
- Price Band: ₹95.00000 - ₹101.00000
- Issue Size: 342000 - 500000
- Min Bid Qty: 2400
- Open Date: 2026-08-25
- Close Date: 2026-08-28
Will the complete absence of QIB interest on Day 1 signal potential valuation concerns or liquidity risks for institutional investors in the remaining days?
How might Sumax Engineering mitigate the risk of supply chain disruptions given that 76.65% of its purchases are imported from countries like China and Portugal?
What is the expected timeline for the new manufacturing units in Rajasthan and Haryana to become operational and contribute to revenue growth?
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