NewsSumax Engineering IPO Day 3 Live: Total hits 17.23x; Retail jumps to 27.93x - Check analysts view and moreSumax Engineering IPO Day 3 Live: Total hits 17.23x; Retail jumps to 27.93x - Check analysts view and more
- Sumax Engineering IPO subscribed 17.23x on Day 3, up from 10.01x on Day 2.
- Retail category leads with 27.93x subscription, followed by NII (bHNI) at 17.22x.
- QIBs entered with a 2.22x subscription during the Day 3 trading window.
- The issue closes on August 28, 2026, with listing scheduled for September 2, 2026.
- Company reported ₹147.69 crore revenue and ₹12.76 crore PAT in FY26.
*this image is generated using AI for illustrative purposes only.
Sumax Engineering’s IPO subscription ticked up significantly on Day 3, reaching a cumulative 17.23x. Retail investors led the charge with a massive 27.93x bid, while QIBs entered the fray with a 2.22x subscription. The issue remains open until August 28.
Subscription Status
The issue saw a significant jump in the afternoon session, with total subscriptions rising from 16.03x at 1:15 PM to 17.23x by 2:15 PM. NII (bHNI) jumped +35.1% today (from 12.75x to 17.22x), and Retail jumped +27.5% today (from 21.90x to 27.93x). QIBs moved from 0.00x to 2.22x in this window.
| Category | Day 1 (25-08-2026) | Day 2 (26-08-2026) | Day 3 (27-08-2026) |
|---|---|---|---|
| QIB | 0.00x | 0.00x | 2.22x |
| NII (bHNI) | 2.72x | 9.87x | 17.22x |
| NII (sHNI) | 1.95x | 5.47x | 9.65x |
| Retail | 5.54x | 16.99x | 27.93x |
| Total | 3.29x | 10.01x | 17.23x |
Intra-day Timeline (Day 3)
Subscription picked up pace during the day, with total subscriptions jumping from 12.87x at 11:15 AM to 17.23x by 2:15 PM.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 12.75x | 21.90x | 12.87x |
| 12:15 | 0.00x | 14.25x | 24.23x | 14.22x |
| 13:15 | 2.22x | 15.69x | 26.09x | 16.03x |
| 14:15 | 2.22x | 17.22x | 27.93x | 17.23x |
About the Company
Sumax Engineering Limited, founded in 1994, manufactures and trades automotive products for OEM and Auto Refinish markets. Its portfolio includes adhesive tapes, die-cuts, polishing compounds, and car care products. Led by MD Sudeep Mehta and CEO Smriti Mehta, the company serves global clients with ISO 9001:2015 and IATF 16949:2016 accredited facilities.
Financial Highlights
The company reported consistent revenue growth over the last three years, with profits rising from ₹7.43 crore in FY24 to ₹12.76 crore in FY26.
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue (₹ crores) | 130.79 | 146.13 | 147.69 |
| PAT (₹ crores) | 7.43 | 9.98 | 12.76 |
| Total Equity (₹ crores) | 38.87 | 48.86 | 61.62 |
Revenue grew steadily, while profitability improved significantly, reflecting operational efficiency.
Objects of the Issue
- ₹16.62 crores: Construction of proposed manufacturing Unit II in Haryana.
- ₹4.89 crores: Establishment of new manufacturing facility in Rajasthan.
- ₹12.00 crores: Funding working capital requirements.
- General corporate purposes.
Risk Factors
- Heavy reliance on top 10 customers, contributing 55.59% of sales in FY26.
- Significant dependence on imports (76.65% of purchases), exposing it to geopolitical risks.
- Complete dependence on the automotive industry for 100% of revenue.
Key Dates
- Close Date: 2026-08-28
- Allotment Date: 2026-08-31
- Listing Date: 2026-09-02
Will the late surge in QIB subscriptions on Day 3 indicate institutional confidence, or does it suggest they are waiting for the final pricing band to be finalized?
How might Sumax Engineering's heavy reliance on imported raw materials (76.65%) impact its post-listing margins amidst current geopolitical tensions and currency fluctuations?
Given the 100% revenue dependence on the automotive sector, how vulnerable is the company's growth trajectory to a potential slowdown in global auto OEM production cycles?
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