Sumax Engineering made a healthy debut on the stock exchanges, listing with 9.9% gains to its issue price on the NSE on Wednesday. The shares opened at ₹111, compared to the fixed issue price of ₹101, demonstrating strong investor confidence in the company's prospects. The stock traded between a high of ₹116 and low of ₹111 during the session, with approximately 20.92 lakh shares changing hands on the NSE. The premium of ₹10 per share above the issue price reflects the positive market reception of the NSE SME-listed stock.
The IPO was subscribed 151.73 times overall, reflecting strong demand across investor categories. The retail investor portion was subscribed 158.98 times, while the QIB category saw 121.28 times subscription. Demand was particularly strong among non-institutional investors (NIIs), whose portion was subscribed a staggering 270.70 times. The IPO comprised a fresh issue of 42.91 lakh shares worth ₹43.34 crore and an offer for sale (OFS) of 9.96 lakh shares worth ₹10.06 crore. The bidding process ran from August 25-28, 2026, with allotment finalised on August 31, 2026.
Sumax Engineering had set the IPO price band at ₹95–101 per share, with a lot size of 1,200 shares. The IPO comprised 52.87 lakh equity shares, including a fresh issue of 42.91 lakh shares and an offer for sale of 9.96 lakh shares. According to The Economic Times, at the upper price band, retail investors were required to invest a minimum of ₹1,21,200 for one lot, while for HNI investors, the minimum application was three lots, or 3,600 shares, involving an investment of ₹3,63,600. GYR Capital Advisors Pvt. Ltd. served as the book-running lead manager for the issue, while KFin Technologies Ltd. acted as the registrar. Ahead of the public issue, Sumax Engineering also raised ₹14.50 crore from anchor investors, with anchor bidding taking place on August 24, 2026.
As reported by The Economic Times, ₹12.00 crore will be utilized to meet the company's working capital requirements, with the remaining funds earmarked for general corporate purposes. The company intends to deploy ₹33.51 crore towards capacity expansion, working capital needs and general corporate requirements. Additionally, Sumax Engineering raised ₹14.50 crore from anchor investors ahead of the public issue. The company recorded revenue from operations of ₹147.69 crore and net profit of ₹12.76 crore for the period ended March 31, 2026.
According to The Economic Times, Sumax Engineering operates two manufacturing facilities located in Sriperumbudur, Tamil Nadu, and IMT Manesar, Haryana. The company has a presence across 26 states and Union Territories in India and exports its products to international markets, including Thailand, South Korea, Russia, Turkey, China, Vietnam, the United States, Saudi Arabia and Taiwan. As of March 31, 2026, the company had a workforce of 121 employees. The company manufactures and trades a wide range of products for the automotive OEM and auto refinish markets, including adhesive tapes, polishing compounds, buffing pads, reflective tapes, printing solutions, car care products, electrical and pneumatic tools, abrasives, body shop consumables and aerosol products. It has also entered the Paint Protection Film (PPF) segment, offering protection against scratches, stains and environmental damage.
