IPO Overview
Established in 1994, Sumax Engineering Limited is an automotive solutions company engaged in the manufacturing and trading of a comprehensive range of products for Automotive OEMs and the auto refinish aftermarket. The company has developed an integrated portfolio that includes adhesive tapes and die-cuts, pre-taped masking films, rubbing and polishing compounds, buffing pads, reflective tapes, domes and graphics, and car care products. It also supplies electrical and pneumatic tools, abrasive materials, body shop consumables, retail accessories, and aerosol products to support vehicle repair, refinishing, and maintenance. The company operates two manufacturing units — one at Sriperumbudur in Tamil Nadu and one at IMT Manesar in Haryana — and sells across 26 states and Union Territories in India.
The company is launching its SME IPO on the NSE SME (Emerge) platform. The IPO combines a fresh issue and an offer for sale, aiming to raise approximately ₹53.40 crore. The issue is priced at a band of ₹95 to ₹101 per share, with a market lot of 1,200 shares. The IPO opens on 25 August 2026 and closes on 28 August 2026, with listing tentatively scheduled for 2 September 2026 on the NSE SME platform.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – SME |
| Listing Exchange | NSE SME (Emerge) |
| Anchor Investor Date | 24 August 2026 |
| IPO Open Date | 25 August 2026 |
| IPO Close Date | 28 August 2026 |
| Allotment Date | 31 August 2026 (Expected) |
| Listing Date | 2 September 2026 (Tentative) |
| Price Band | ₹95 – ₹101 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,200 shares |
| Minimum Investment (Retail) | ₹2,42,400 (approx) ( 2 lots) |
| Issue Size | ₹53.40 crore |
| Fresh Issue | 42,91,200 shares |
| Offer For Sale (OFS) | 9,96,000 shares |
Issue Break-up
| Category | Allocation |
| Qualified Institutional Buyers (QIB) | ~50% |
| Non-Institutional Investors (NII/HNI) | ~15% |
| Retail Individual Investors (RII) | ~35% |
| Market Maker | Reserved Portion |
OFS / Selling Shareholders
The IPO consists of a fresh issue of up to 43,00,000 equity shares and an offer for sale of up to 10,00,000 equity shares. The OFS proceeds will go to the selling shareholders and not to the company. The promoters of the company are Mr. Sudeep Mehta and Mrs. Smriti Mehta.
Objects of the Issue (Fund Utilization)
The company plans to use the net IPO proceeds for the following purposes: ₹4.89 crore for capital expenditure towards construction of proposed manufacturing Unit I at Tapukara, Rajasthan; ₹16.62 crore for capital expenditure towards construction of proposed manufacturing Unit II at Badli, Jhajjar, Haryana; ₹12 crore for funding working capital requirements; and the remainder for general corporate purposes.
- Construction of new manufacturing Unit I at Tapukara, Rajasthan — ₹4.89 crore
- Construction of new manufacturing Unit II at Badli, Jhajjar, Haryana — ₹16.62 crore
- Working capital requirements — ₹12 crore
- General corporate purposes — remaining proceeds
Lead Managers & Registrar
- Book Running Lead Manager: GYR Capital Advisors Private Limited
- Registrar to the Issue: Kfin Technologies Ltd.
- Key Contact (BRLM): Mr. Mohit Baid / Mr. M. Murali Krishna
Promoters & Management
- Promoter & CMD: Mr. Sudeep Mehta
- Co-Promoter: Mrs. Smriti Mehta
- CFO: Mr. VLS Gurunadha Rao Aduri
- Company Secretary & Compliance Officer: Mr. Prateek Nahata
The company has an established business backed by a broad product range, in-house processing facilities, established industry relationships, and an organised logistics network.
Company Details
Sumax Engineering Ltd makes and trades products for the automotive OEM and auto refinish market. On the manufacturing side, it produces adhesive tapes and die-cuts, pre-taped masking films, rubbing and polishing compounds, buffing and foam pads, reflective tapes, domes and graphics, and car care products. On the trading side, it supplies electrical and pneumatic tools, abrasive sheets, discs and rolls, body shop consumables, retail products, accessories, and aerosol products.
Sectors Served:
- Automotive OEM (Original Equipment Manufacturers)
- Auto Refinish & Body Shop Market
- Vehicle Repair & Maintenance
Key Products:
Manufacturing Division:
- Adhesive Tapes & Die-Cuts
- Pre-Taped Masking Films
- Rubbing & Polishing Compounds
- Buffing & Foam Pads
- Reflective Tapes, Domes & Graphics
- Car Care Products
Trading Division:
- Electrical & Pneumatic Tools
- Abrasive Sheets, Discs & Rolls
- Body Shop Consumables
- Retail Accessories & Aerosol Products
Manufacturing Facilities:
- Unit 1 — Sriperumbudur, Tamil Nadu
- Unit 2 — IMT Manesar, Haryana
Geographic Presence:
- Sells across 26 states and Union Territories in India and exports to markets including Thailand, South Korea, Russia, Turkey, China, Vietnam, the United States, Saudi Arabia, and Taiwan.
Employees: As of 31 March 2026, the company employed 121 people.
Financial Snapshot
| Period | Total Income (₹ Cr) | PAT (₹ Cr) | EBITDA (₹ Cr) |
| FY23 | ₹127.33 | ₹4.64 | ₹8.05 |
| FY24 | ₹131.54 | ₹7.44 | ₹11.63 |
| FY25 | ₹147.18 | ₹9.99 | ₹15.03 |
Key Financial Metrics
- Revenue grew from ₹127.33 crore in FY23 to ₹147.18 crore in FY25 — a steady 3-year growth trajectory. PAT more than doubled from ₹4.64 crore in FY23 to ₹9.99 crore in FY25, reflecting strong margin improvement.
- EBITDA improved from ₹8.05 crore in FY23 to ₹15.03 crore in FY25 — nearly doubling over two years, indicating strong operating leverage.
- Improving margins, strong return ratios, and reasonable valuation make this an attractive proposition for long-term investors.
Company Strengths
- Manufacturing contributed nearly 80% of FY25 revenue, demonstrating a healthy and growing in-house production capability rather than pure trading dependence.
- Diversified product portfolio serving both OEM and aftermarket segments — reducing dependence on any single product category
- Pan-India presence across 26 states and Union Territories, combined with active exports to 9 international markets including the US, South Korea, and Russia.
- Consistent 3-year improvement in revenue, EBITDA, and PAT — showing strong operational execution
- Planned capacity expansion with two new manufacturing units in Rajasthan and Haryana — to support future revenue growth
- Long-established business since 1994 — over 30 years of operating history in the automotive supply ecosystem
Key Risks & Challenges
- Heavy dependence on the automotive sector — any slowdown in vehicle production or body shop activity will directly impact revenue
- The domestic market accounts for over 99% of revenue, highlighting limited geographic diversification despite export presence.
- OFS component means a portion of IPO proceeds goes to promoters, not to the company for growth
- Proposed new manufacturing units are still under construction — execution and timeline risk on capex deployment
- SME IPO liquidity risk — limited secondary market depth on NSE SME Emerge platform
- Competition from established domestic and global suppliers of automotive consumables and body shop products
Disclaimer:
This document is for informational purposes only and should not be considered as investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before investing in any IPO. Market investments are subject to risk.
