NewsSumax Engineering IPO Day 3 Live: Total hits 21.76x; Retail jumps to 34.25x - Check analysts view and moreSumax Engineering IPO Day 3 Live: Total hits 21.76x; Retail jumps to 34.25x - Check analysts view and more
- Sumax Engineering IPO subscribed 21.76x by end of Day 3.
- Retail category leads with 34.25x subscription.
- NII (bHNI) jumped 83.2% intra-day to 23.36x.
- QIBs entered with 2.22x subscription on Day 3.
- Issue closes on August 28, 2026; listing expected September 2.
*this image is generated using AI for illustrative purposes only.
Sumax Engineering’s public issue closed with a colossal 167.18x subscription, driven by a dramatic late-day surge in Qualified Institutional Buyer (QIB) bidding. The issue raced ahead in the final hours, with total subscriptions jumping from 35.65x at 11:15 AM to 167.18x by market close on the final day.
Final Subscription Status
The IPO witnessed intense bidding activity in the last session. Below is the day-wise progression:
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 25-08-2026 | 0.00x | 2.72x | 1.95x | 5.54x | 3.29x |
| Day 2 | 26-08-2026 | 0.00x | 9.87x | 5.47x | 16.99x | 10.01x |
| Day 3 | 27-08-2026 | 2.22x | 23.36x | 16.26x | 34.25x | 21.76x |
| Day 4 | 28-08-2026 | 113.29x | 178.44x | 319.82x | 152.76x | 167.18x |
Intra-day timeline on 28-08-2026
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 2.25x | 39.39x | 52.28x | 35.65x |
| 12:15 | 5.74x | 54.49x | 67.35x | 50.05x |
| 13:15 | 20.42x | 78.32x | 86.14x | 73.59x |
| 14:15 | 35.12x | 101.22x | 104.31x | 95.46x |
| 15:15 | 75.85x | 139.24x | 130.11x | 133.98x |
| 16:15 | 113.29x | 178.44x | 152.76x | 167.18x |
| 17:15 | 113.29x | 178.44x | 152.76x | 167.18x |
Category-wise Breakdown
- Retail: 152.76x
- NII (bHNI): 319.82x
- NII (sHNI): 178.44x
- QIB: 113.29x
- Employees: 0 x
About the Company
Sumax Engineering Limited is engaged in both manufacturing and trading of automotive products for OEM and Auto Refinish markets. Founded in 1994, the company specializes in adhesive tapes, die-cuts, rubbing compounds, and car care products. It serves automotive manufacturers and the aftermarket industry globally, with operations in countries like Thailand, South Korea, and the USA. The company is managed by MD Sudeep Mehta and CEO Smriti Mehta.
Financial Highlights
Sumax Engineering reported consistent revenue growth over the last three fiscal years. Profitability also improved, with total profit rising from ₹7.43 crores in FY2024 to ₹12.76 crores in FY2026.
| Particulars | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Revenue from Operations (₹ crores) | 130.79 | 146.13 | 147.69 |
| Total Profit (₹ crores) | 7.43 | 9.98 | 12.76 |
| Total Equity (₹ crores) | 38.87 | 48.86 | 61.62 |
Objects of the Issue
- ₹16.62 crores towards construction of proposed manufacturing Unit II in Haryana.
- ₹12.00 crores for funding working capital requirements.
- ₹4.89 crores towards construction of proposed manufacturing Unit I in Rajasthan.
- General corporate purposes as per regulatory requirements.
Risk Factors
- Import Dependence: 76.65% of total purchases are imports, exposing the company to global commodity price volatility and supply chain disruptions.
- Customer Concentration: Top 10 customers contributed 55.59% of total sales in Fiscal 2026.
- Sector Dependence: The company derives 100% of its revenue from the automotive industry.
What's Next
- Allotment Date: 2026-08-31
- Listing Date: 2026-09-02
- Basis of Allotment: Pro-rata basis expected due to oversubscription.
Will the late entry of QIBs indicate a lack of institutional confidence, or is it merely a tactical delay that could impact listing day volatility?
How might the company's heavy reliance on imports (76.65%) expose it to margin compression if geopolitical tensions or currency fluctuations intensify post-IPO?
Given the 100% revenue dependence on the automotive sector, how vulnerable is Sumax Engineering to a potential slowdown in global auto OEM production cycles?
18
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
