NewsSumax Engineering IPO Day 3: Issue subscribed 35.65x so far. Check issue details and key datesSumax Engineering IPO Day 3: Issue subscribed 35.65x so far. Check issue details and key dates
- Sumax Engineering IPO subscribed 35.65x overall by end of Day 3.
- Retail category led with 52.28x subscription, followed by NII at 42.44x.
- QIB subscription stood at 2.25x.
- Allotment is scheduled for August 31, 2026, with listing on September 2, 2026.
- Company plans to use proceeds for new manufacturing units in Rajasthan and Haryana.
*this image is generated using AI for illustrative purposes only.
Sumax Engineering’s public issue closed on Day 3 with a total subscription of 35.65 times. The Retail category drove the demand with a 52.28x subscription, followed by Non-Institutional Investors (NII) at 42.44x. Qualified Institutional Buyers (QIB) subscribed 2.25x. The issue remains open for the final day of bidding.
Final Subscription Status
The IPO saw strong participation across all categories, with Retail investors showing the highest interest. Below is the day-wise progression of the subscription:
| 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 | 2.25x | 39.39x | 42.44x | 52.28x | 35.65x |
Category-wise Breakdown
- Retail: 52.28x
- NII (bHNI): 42.44x
- NII (sHNI): 39.39x
- QIB: 2.25x
- Employees: 0 x
About the Company
Sumax Engineering Limited is engaged in the 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.
How might the significant oversubscription in Retail and NII categories impact Sumax Engineering's listing price and initial trading volatility on September 2?
Given that 76.65% of purchases are imports, how vulnerable is Sumax Engineering's margin to potential currency fluctuations or global supply chain disruptions in the near term?
Will the construction of new manufacturing units in Haryana and Rajasthan successfully reduce the company's reliance on imports and mitigate supply chain risks within the projected timeline?
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