With SME IPO activity continuing in December 2025, several companies are approaching the market to raise growth capital through fresh issues. Against this backdrop, Admach Systems Ltd is set to open its IPO on December 23, 2025. Here is a detailed insight into Admach Systems, its IPO, and key business and financial highlights.
About Admach Systems Ltd.
Incorporated in 2008, Admach Systems Ltd is engaged in designing, manufacturing, exporting, and supplying customised special-purpose machines and automation systems for the Indian and global engineering industry. Its offerings primarily cater to –
- Steel sector
- Automobile sector
- Food sector
- Tooling sector
- Engineering sector
The company specialises in special-purpose machines, robotic material handling systems, automation, assembly machines, packaging machines, and product design. It operates at a production capacity of 100 units annually and achieved 100% capacity utilisation in FY 2024–25. The company has its office and manufacturing plant in Pune, Maharashtra.
Products:
- Black Bar Solutions
- Bar Chamfering Machine
- Bar Straightener Machine
- Bright Bar Solutions
- Grinding Solutions
- Super Finishing Solutions
Competitive Strengths:
- Experienced Promoters supported by a management and execution team
- Diversified Customer Base
- Quality Check
Admach Systems IPO Details
Admach Systems IPO is a book build issue of ₹42.60 crores, and the issue is entirely a fresh issue of 0.18 crore shares aggregating to ₹42.60 crore.
- IPO Opens: Dec 23, 2025
- IPO Closes: Dec 26, 2025
- Listing: BSE SME (tentative listing date: Dec 31, 2025)
- Price Band: ₹227 to ₹239 per share
- Market Cap (Pre-IPO): ₹161.87 Cr
- Book Running Lead Manager: Aftertrade Broking Pvt. Ltd.
- Registrar: Maashitla Securities Pvt. Ltd.
- Market Makers: NNM Securities Pvt. Ltd., Aftertrade Broking Pvt. Ltd.
Important IPO Timeline
| Event | Date |
| IPO Open Date | Tue, Dec 23, 2025 |
| IPO Close Date | Fri, Dec 26, 2025 |
| Tentative Allotment | Mon, Dec 29, 2025 |
| Initiation of Refunds | Tue, Dec 30, 2025 |
| Credit of Shares to Demat | Tue, Dec 30, 2025 |
| Tentative Listing Date | Wed, Dec 31, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 26, 2025 |
Key IPO Details
| IPO Date | Tue, Dec 23, 2025 to Fri, Dec 26, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹227 to ₹239 |
| Lot Size | 600 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 17,82,600 shares (aggregating up to ₹42.60 Cr) |
| Reserved for Market Maker | 89,400 shares (aggregating up to ₹2.14 Cr) Aftertrade Broking Pvt.Ltd. |
| Net Offered to Public | 16,93,200 shares (aggregating up to ₹40.47 Cr) |
| Share Holding Pre Issue | 49,90,200 shares |
| Share Holding Post Issue | 67,72,800 shares |
Admach Systems IPO Reservation
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 89,400 (5.02%) |
| QIB Shares Offered | 5,92,200 (33.22%) |
| NII (HNI) Shares Offered | 3,80,400 (21.34%) |
| Retail Shares Offered | 7,20,600 (40.42%) |
| Total Shares Offered | 17,82,600 (100.00%) |
Lot Size of Admach Systems IPO
Investors can bid for a minimum of 1,200 shares and in multiples of 600 shares thereafter.
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 1,200 | ₹2,86,800 |
| Individual investors (Retail) (Max) | 2 | 1,200 | ₹2,86,800 |
| S-HNI (Min) | 3 | 1,800 | ₹4,30,200 |
| S-HNI (Max) | 6 | 3,600 | ₹8,60,400 |
| B-HNI (Min) | 7 | 4,200 | ₹10,03,800 |
Admach Systems Ltd. Financials
Admach Systems Ltd.’s revenue increased by 170% and profit after tax (PAT) rose by 82% between the financial year ending March 31, 2025 and March 31, 2024.
Key Company Financials (Restated)
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 60.22 | 55.90 | 35.78 | 19.79 |
| Total Income | 23.06 | 53.52 | 19.80 | 13.18 |
| Profit After Tax | 3.02 | 6.10 | 3.35 | 0.10 |
| EBITDA | 4.49 | 10.31 | 6.29 | 1.00 |
| Net Worth | 25.04 | 22.03 | 5.73 | 2.38 |
| Reserves and Surplus | 20.05 | 17.04 | 3.73 | 1.13 |
| Total Borrowing | 10.15 | 10.66 | 15.59 | 8.45 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
| ROE | 43.94% |
| ROCE | 44.00% |
| Debt/Equity | 0.48 |
| RoNW | 27.69% |
| PAT Margin | 11.43% |
| EBITDA Margin | 19.32% |
| Price to Book Value | 5.41 |
| Market Cap (Pre-IPO) | ₹161.87 Cr |
Pre IPO vs Post IPO
| Metric | Pre IPO | Post IPO |
| EPS (₹) | 12.22 | 17.82 |
| P/E (x) | 19.56 | 13.41 |
| Promoter Holding | 71.87% | 52.95% |
Promoters: Ajay Chamanlal Longani, Rajni Ajay Longani, Mahesh Chamanlal Longani and Sonal Mahesh Longani.
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Estimated Amount (₹ in Cr.) |
| 1 | Funding of capital expenditure requirements towards the purchase of new machinery and installation costs thereon | 16.47 |
| 2 | Funding working capital requirements | 15.50 |
| 3 | General corporate purposes | – |
Admach Systems IPO: Peer Comparison
Admach Systems IPO can be compared with peers such as HLE Glascoat Ltd, Fineotex Chemical Ltd, Skipper Ltd, Tega Industries Ltd, and Thermax Ltd. Reviewing these companies helps investors gauge Admach Systems’ positioning within the specialised engineering, automation, and industrial machinery segment, enabling a better assessment of its scale, operational focus, and competitive standing before making informed investment decisions.
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Conclusion
Admach Systems Ltd. operates in the specialised engineering space, offering customised machines and automation systems across multiple end-use industries. The IPO is a fresh issue, with proceeds proposed to be used for capex (new machinery and installation) and working capital, along with general corporate purposes. As this is a BSE SME listing, investors may also consider liquidity and risk factors typically associated with SME issues while evaluating the opportunity.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
