Amtech Esters SME IPO GMP Today and Subject 2 Price
Amtech Esters SME IPO Grey Market Premium (GMP) today stands at ₹ 13, showing healthy interest from investors in the grey market. The Kostak rate is currently not available, while the Subject to Sauda price is quoted at currently not available. On 16 September 2026, the IPO GMP recorded a high of ₹13 and a low of ₹5 on 6 September 2026, reflecting positive market momentum. You can check the day-wise GMP trend below to track price movement and investor sentiment over time.
Amtech Esters SME IPO is scheduled to open for subscription on September 9, 2026. The public issue aims to raise around ₹17.88 Cr. and is offered in a price band of ₹71 to ₹75 per share, with a market lot of 1600 shares. Investors are closely watching subscription data and grey market trends ahead of the listing.
GMP Trend Chart
Day-wise GMP Trend
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 16 Sep 2026 | ₹ 13 | 17.33% | ₹ 0 | ₹ 0 | |
| 15 Sep 2026 | ₹ 7 | 9.33% | ₹ 0 | ₹ 0 | |
| 14 Sep 2026 | ₹ 7 | 9.33% | ₹ 0 | ₹ 0 | |
| 13 Sep 2026 | ₹ 7 | 9.33% | ₹ 0 | ₹ 0 | |
| 12 Sep 2026 | ₹ 7 | 9.33% | ₹ 0 | ₹ 0 | |
| 11 Sep 2026 | ₹ 7 | 9.33% | ₹ 0 | ₹ 0 | |
| 10 Sep 2026 | ₹ 11 | 14.67% | ₹ 0 | ₹ 0 | |
| 09 Sep 2026 | ₹ 11 | 14.67% | ₹ 0 | ₹ 0 | |
| 08 Sep 2026 | ₹ 7 | 9.33% | ₹ 0 | ₹ 0 | |
| 07 Sep 2026 | ₹ 7 | 9.33% | ₹ 0 | ₹ 0 | |
| 06 Sep 2026 | ₹ 5 | 6.67% | ₹ 0 | ₹ 0 | |
| 05 Sep 2026 | ₹ 5 | 6.67% | ₹ 0 | ₹ 0 | |
| 04 Sep 2026 | ₹ 5 | 6.67% | ₹ 0 | ₹ 0 |
Amtech Esters SME IPO Dates
| Event | Date |
|---|---|
| Open Date | 09 Sep, 2026 |
| Close Date | 11 Sep, 2026 |
| Allotment Date | 15 Sep, 2026 |
| Refund Date | 16 Sep, 2026 |
| Credit to Demat | 16 Sep, 2026 |
| Listing Date | 17 Sep, 2026 |
Amtech Esters SME IPO Expected Listing Price
| Basis | Value |
|---|---|
| Issue Price (Upper Band) | ₹75 |
| Current GMP | ₹ 13 |
| GMP-Based Listing Estimate | ₹88 (+17.3%) |
| Listing Date | 17 Sep, 2026 |
Disclaimer: The listing price estimate above is based purely on the current grey market premium (GMP) and is not a guaranteed prediction. GMP is an unofficial, unregulated indicator and can change significantly in the 24–48 hours before listing. Do not make investment decisions based solely on GMP.
Is Amtech Esters SME IPO GMP Reliable?
Grey market premium for Amtech Esters SME IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- Cross-check before acting: Review the Amtech Esters SME IPO full review for a fundamentals-based assessment before making any grey market trades.
Amtech Esters SME IPO IPO Kostak Rate Explained
The Kostak rate for Amtech Esters SME IPO is currently not active. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price has not been quoted yet. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Amtech Esters SME IPO
Its main product is Unsaturated Polyester Resin, usually called UPR. This is the resin used to make fibre reinforced plastic, or FRP, products. Alongside the resin it makes and supplies related items such as fibreglass, hardeners, silicones and other products used in the same work. By offering these together it lets a customer buy everything needed for a job from one place, from the base resin and reinforcement through to curing and finishing materials.
The company also owns Croda Pigments Private Limited as a wholly owned subsidiary. That company makes pigments, which are the colouring and additive materials used in paints, varnishes, dyes, glues and gums, and it widens the group's overall range. Amtech Esters has its own research and development and quality control departments and holds ISO 9001:2015 certification. Its plant is at Bahadurgarh in Jhajjar district, Haryana. As on 31 March 2026 it had 60 employees.
Strengths & Risks
Strengths
- ✓ Profit has grown every year, from Rs 2.84 crore in FY2024 to Rs 3.72 crore in FY2025 and Rs 4.22 crore in FY2026.
- ✓ Sales have grown from Rs 27.24 crore in FY2024 to Rs 36.97 crore in FY2025 and Rs 40.75 crore in FY2026.
- ✓ EBITDA improved sharply, from Rs 1.65 crore in FY2024 to Rs 6.50 crore in FY2025 and Rs 7.49 crore in FY2026.
- ✓ Return ratios are strong, with RoCE of 35.10% and RoNW of 27.58%, and a PAT margin of 10.09%.
- ✓ The company carries little debt. Borrowing was Rs 3.41 crore against a net worth of Rs 19.58 crore, and it has come down every year.
- ✓ Offering the resin along with fibreglass, hardeners and silicones gives customers a single source for a whole job, which helps hold on to them.
- ✓ The subsidiary Croda Pigments adds pigments to the range, which sells into paints, varnishes, dyes and glues.
- ✓ It has a long record of over 20 years, holds ISO 9001:2015 certification and has its own R&D and quality control departments.
Risks
- ⚠ The P/E is not stated in the data available to us, so the issue cannot be compared with peers on earnings from here.
- ⚠ Growth has slowed. Total income rose only 10% in FY2026 against 36% the year before.
- ⚠ This is a very small company, with a net worth of Rs 19.58 crore and 60 employees.
- ⚠ Unsaturated Polyester Resin is made from petrochemical feedstock, so raw material cost moves with crude oil and cannot always be passed on.
- ⚠ A part of the business is trading rather than manufacturing, which normally earns a lower margin.
- ⚠ Rs 8.81 crore of the issue money goes into the subsidiary Croda Pigments as debt rather than into the parent company's own capacity.
- ⚠ A further part is kept for unidentified acquisitions along with general corporate purposes, so investors do not know where that money will go.
- ⚠ The whole business runs from one plant at Bahadurgarh in Haryana, so there is single location risk.
- ⚠ Promoter holding is already moderate at 62.35% and falls to 45.52% after the issue, leaving the promoters below a half share.
- ⚠ This is an SME issue. One lot is 1,600 shares, which is Rs 1.20 lakh at the upper band of Rs 75, and SME shares usually trade in low volume after listing.
Frequently Asked Questions about Amtech Esters SME IPO
What is the GMP of Amtech Esters SME IPO?
The current Grey Market Premium (GMP) of Amtech Esters SME IPO is ₹ 13.
What is the Kostak Price of Amtech Esters SME IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Amtech Esters SME IPO is currently not available.
What is the Subject to Sauda Price of Amtech Esters SME IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is currently not available.
What is the expected listing price of Amtech Esters SME IPO based on GMP?
Based on the current GMP of ₹ 13, Amtech Esters SME IPO is expected to list around ₹88 — approximately +17.3% above the issue price of ₹75. Grey market prices can shift before listing — treat this as an estimate only.
Is the GMP of Amtech Esters SME IPO increasing or decreasing?
The GMP of Amtech Esters SME IPO is currently rising. This upward momentum suggests growing confidence among grey market participants ahead of listing.
Explore Amtech Esters SME IPO Further
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