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Admach Systems IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
Admach Systems Limited designs and manufactures customized machines and automation solutions for the Indian and global engineering industry. The company earns revenue through the sale of special purpose machines, automation systems, robotic material handling solutions, and related after-sales services. Its products are used across steel, automobile, food, tooling, and general engineering industries to improve efficiency, precision, and productivity.
Admach Systems, an Book Built Issue, amounting to ₹42.60 Crore,consisting entirely an fresh issue of 0.18 crore shares of ₹42.60 Crore.The subscription period for the Admach Systems IPO opens on December 23, 2025, and closes on December 26, 2025. The allotment is expected to be finalized on or about Monday, December 29, 2025., and the shares will be listed on the BSE SME with a tentative listing date set on or about Wednesday, December 31, 2025.
The Share Price Band of Admach Systems IPO is set at ₹227 to ₹239 per share per equity share. The Market Capitalisation of the Admach Systems at IPO price of ₹239 per equity share will be ₹
161.87 Crores. The lot size of the IPO is 600 shares. Retail investors are required to invest a minimum of ₹
286,800, 2 lots ( 1200 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is
3 lots (
1800 shares), amounting to ₹
430,200.
AFTERTRADE BROKING PRIVATE LIMITED are the book running lead manager of the Admach Systems Ltd. while MAASHITLA SECURITIES PRIVATE LIMITED is the registrar for the issue. The Market Maker of the company is NNM Securities Pvt.Ltd., Aftertrade Broking Pvt.Ltd.
Admach Systems Limited IPO GMP Today
The Grey Market Premium of Admach Systems IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.
Admach Systems Limited IPO Live Subscription Status Today: Real-Time Update
As of 10:30 AM on 25 December, 2025, the Admach Systems IPO live subscription status shows that the IPO subscribed 1.22 times on its Third Day of subscription period. Check the Admach Systems IPO Live Subscription Status Today at BSE.
Admach Systems Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Admach Systems IPO allotment date is 29 December 2025, Monday, Admach Systems IPO Allotment will be out on 29 December 2025, Monday, and will be live on Registrar Website from the allotment date.
Check MAASHITLA SECURITIES PRIVATE LIMITED IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Admach Systems IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.
Objectives of Admach Systems Limited IPO
Admach Systems to utilise the Net Proceeds towards the following objects:
1. ₹1647.43 Lakh is required for Funding of capital expenditure requirements of our Company towards purchase of new machinery and installation cost thereon
2. ₹1550.00 Lakh is required for Funding Working Capital Requirements of our Company
3. General Corporate Purpose
Refer to Admach Systems Limited RHP for more details about the Company.
Admach Systems Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|---|---|---|---|
| December 17, 2025 | N/A | N/A | ₹0(0.0%) | 17 December 2025; 02:20 PM |
| December 17, 2025 | N/A | N/A | ₹0(0.0%) | 18 December 2025; 11:10 AM |
| December 17, 2025 | N/A | N/A | ₹0(0.0%) | 22 December 2025; 11:02 AM |
Admach Systems IPO Details
| Market Capitalization | ₹161.87 Cr. |
| IPO Date | December 23, 2025 to December 26, 2025 |
| Listing Date | December 31, 2025 |
| Face Value | ₹10 Per Share |
| Price Band | ₹227 to ₹239 per share |
| Issue Price | ₹239 per share |
| Employee Discount | NA |
| Lot Size | 600 Equity Shares |
| Total Issue Size | 17,82,600 Equity Shares (aggregating to ₹42.60 Cr) |
| Fresh Issue | 17,82,600 Equity Shares (aggregating to ₹42.60 Cr) |
| Offer for Sale | NA |
| Issue Type | Book Built Issue |
| Listing At | BSE SME |
| Share holding pre issue | 49,90,200 |
| Share holding post issue | 67,72,800 |
| Rating | Avoid |
Admach Systems IPO Anchor Investors Details
| Bid Date | N/A |
| Shares Offered | N/A |
| Anchor Portion Size (In Cr.) | N/A |
| Anchor lock-in period end date for 50% shares (30 Days) | N/A |
| Anchor lock-in period end date for remaining shares (90 Days) | N/A |
Admach Systems IPO Timeline (Tentative Schedule)
| IPO Open Date | Tue, Dec 23, 2025 |
| IPO Close Date | Fri, Dec 26, 2025 |
| Basis of Allotment | Mon, Dec 29, 2025 |
| Initiation of Refunds | Tue, Dec 30, 2025 |
| Credit of Shares to Demat | Tue, Dec 30, 2025 |
| Listing Date | Wed, Dec 31, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Dec 26, 2025 |
Admach Systems IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| QIB Portion | 592,620 | Not more than 35% of the Net Offer |
| Non-Institutional Investor Portion | 338,640 | Not more than 20% of the Net Offer |
| Retail Shares Offered | 677,280 | Not less than 40% of the Net Offer |
| Market Maker Portion | 89,400 | - |
Admach Systems IPO Promoter Holding
| Share Holding Pre Issue | 71.87% |
| Share Holding Post Issue | 52.95% |
Admach Systems IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | ₹286,800 |
| Retail (Max) | 2 | 1,200 | ₹286,800 |
| S-HNI (Min) | 3 | 1,800 | ₹430,200 |
| S-HNI (Max) | 6 | 3,600 | ₹860,400 |
| B-HNI (Min) | 7 | 4,200 | ₹1,003,800 |
Admach Systems IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 3,81,600 | 5,49,000 | 1.44x | 25 December 2025; 11:49 AM |
| Non Institutional Investors(NIIS) | 3,79,800 | 6,11,400 | 1.61x | 25 December 2025; 11:49 AM |
| Retail Individual Investors (RIIs) | 7,21,200 | 6,49,200 | 0.90x | 25 December 2025; 11:49 AM |
| Total | 14,82,600 | 18,09,600 | 1.22x | 25 December 2025; 11:49 AM |
About Admach Systems Limited
Admach Systems Limited designs and manufactures customized machines and automation solutions for the Indian and global engineering industry. The company earns revenue through the sale of special purpose machines, automation systems, robotic material handling solutions, and related after-sales services. Its products are used across steel, automobile, food, tooling, and general engineering industries to improve efficiency, precision, and productivity.
Key Clients and Manufacturing Facilities
The company has served more than 34 customers in the last year, with over 13 customers associated for more than 15 years. Key global clients include Arcelor Mittal (UAE), IAS GmbH (Germany), Sofratest (France), and SCHULER PRESSEN GmbH. Admach operates a single integrated manufacturing facility at Nandoshi, Pune, which houses design, fabrication, assembly, testing, and quality control operations.
Product Portfolio, Order Book, and Execution
The product portfolio includes special purpose machines, automation systems, assembly machines, packaging machines, and robotic material handling systems. These products are typically installed in mid to advanced stages of the client’s production lifecycle, directly impacting productivity and quality. The company executed 100 units in FY25 against an installed capacity of 100 units, indicating strong order execution and improving capacity utilization.
Mergers, Capex, and Expansion Plans
The company was formed through the acquisition of the proprietorship business of M/s Admach Systems in 2009, providing an established operational base. Going forward, Admach plans capacity expansion, investment in advanced automation and testing equipment, and deeper penetration into international markets. The IPO proceeds are expected to support working capital needs and future capital expenditure initiatives.
Employees and Banker
As of March 31, 2025, the company had 58 employees. The Banker to the Company is ICICI Bank Limited.
Management and Growth Vision
The company is led by promoters Ajay Chamanlal Longani, Rajni Ajay Longani, Mahesh Chamanlal Longani, and Sonal Mahesh Longani, who bring extensive experience in machine design and engineering solutions. Management focuses on long-term growth through technology-driven customization, export expansion, and deeper client relationships. Funding for capex and expansion is planned through internal accruals, bank borrowings, and proceeds from the proposed IPO.
Industry Overview
Admach operates in the industrial machinery and automation segment, part of the broader engineering industry. The Indian industrial machinery market is valued at over USD 15–18 billion and is growing at 8–10% annually, driven by manufacturing automation and “Make in India.” Globally, the industrial automation market exceeds USD 200 billion with a CAGR of around 9%. Key global leaders include Siemens, ABB, and Rockwell Automation.
Key Risk Factors
- Customer Concentration Risk
A significant portion of revenue is derived from a limited number of long-term customers. Loss of any major client could adversely impact revenue, cash flows, and overall financial performance. - Project Execution Risk
The company undertakes customized machine projects with defined timelines. Delays in procurement, fabrication, or installation could lead to cost overruns, penalties, or strained customer relationships. - Dependence on Skilled Workforce
Operations rely heavily on skilled engineers and technicians. Attrition or inability to attract qualified talent could affect design quality, execution efficiency, and future growth prospects. - Working Capital Intensity
The business requires significant working capital due to long project cycles and receivables. Any mismatch in cash flows may increase reliance on short-term borrowings. - Industry Cyclicality
Demand for capital equipment is linked to industrial investment cycles. Economic slowdowns or reduced capex spending by clients may negatively affect order inflows and profitability.
Key Strengths, Moat, and Opportunities
- Strong Customization Capability
Admach specializes in tailor-made machines, creating high entry barriers and reducing direct price competition, resulting in stronger client stickiness and repeat orders. - Long-standing Client Relationships
Over 13 customers have been associated for more than 15 years, reflecting trust, reliability, and consistent execution capability. - Integrated Manufacturing Facility
In-house design, fabrication, assembly, and testing enable better quality control, faster execution, and improved cost efficiency. - Growing Export Presence
The company has successfully executed projects in Europe, the Middle East, and Asia, providing diversification beyond domestic markets. - Improving Capacity Utilization
Execution increased from 52 units in FY23 to 100 units in FY25, indicating strong demand visibility and operational scalability. - Favorable Industry Tailwinds
Rising automation adoption, global manufacturing shifts, and demand for productivity-enhancing solutions present strong near-term growth opportunities.
Admach Systems Limited Financial Information (Restated Consolidated)
Amount in (₹ in Lakhs)
| Period Ended | June 30, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Reserve of Surplus | 2,005.29 | 1,703.57 | 372.88 | 113.08 |
| Total Assets | 6,022.42 | 5,589.66 | 3,578.20 | 1,979.06 |
| Total Borrowings | 1,015.33 | 1,065.76 | 1,559.22 | 844.65 |
| Fixed Assets | 428.91 | 438.66 | 127.25 | 94.27 |
| Cash | 125.66 | 140.52 | 11.88 | 12.76 |
| Cash flow from operating activities | 29.93 | 45.33 | -798.51 | -222.19 |
| Cash flows from investing activities | 33.31 | -273.20 | 259.37 | -372.29 |
| Cash flow from financing activities | -78.10 | 356.51 | 538.26 | 593.53 |
| Net Borrowing | 889.67 | 925.24 | 1,547.34 | 831.89 |
| Revenue | 2,306.12 | 5,351.59 | 1,979.91 | 1,318.43 |
| EBITDA | 448.63 | 1,030.91 | 629.02 | 99.83 |
| PAT | 301.71 | 609.81 | 334.81 | 9.70 |
| PAT Margin | 13.08% | 11.39% | 16.91% | 0.74% |
| EPS | 6.05 | 12.57 | 7.45 | 0.22 |
Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue Data, given in FINANCIAL EXPRESS.
Key Performance Indicator
| KPI | Values |
|---|---|
| EPS Pre IPO (Rs.) | 12.57 |
| EPS Post IPO (Rs.) | 9.00 |
| Adjusted 12M EPS Post IPO (Rs.) | 17.82 |
| P/E Pre IPO | 19.01 |
| P/E Post IPO | 26.54 |
| Adjusted 12M P/E Post IPO | 13.41 |
| ROE | 43.94% |
| ROCE | 44.00% |
| P/BV | 5.41 |
| Debt/Equity | 0.48 |
| RoNW | 27.69% |
| EBITDA Margin | 19.32% |
| PAT Margin | 11.39% |
Admach Systems Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| Admach Systems | 9.00 | 26.54 | 43.94% | 44.00% | 5.41 | 0.48 | 27.69% |
| Affordable Robotic & Automation | 5.32 | 41.72 | -10.9 % | -2.63 % | 2.26 | 0.64 | 5.38% |
| Bemco Hydraulics | 42.09 | 2.52 | 19.9 % | 23.7 % | 0.34 | 0.21 | 15.00% |
Admach Systems Limited Contact Details
Admach Systems Limited
Phone: +91-7020909040
Email: admach@admach.co.in
Website: http://www.admach.co.in
Admach Systems IPO Registrar and Lead Manager(s)
Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
AFTERTRADE BROKING PRIVATE LIMITED
Phone: +91 97250 09939
Email: mb@aftertrade.in
Website: http://www.aftertrade.in
Admach Systems IPO Review
Admach Systems Limited designs and manufactures customized machines and automation solutions for the Indian and global engineering industry. The company earns revenue through the sale of special purpose machines, automation systems, robotic material handling solutions, and related after-sales services. Its products are used across steel, automobile, food, tooling, and general engineering industries to improve efficiency, precision, and productivity.
The Company is led by Promoter, i.e., Ajay Chamanlal Longani, Rajni Ajay Longani, Mahesh Chamanlal Longani and Sonal Mahesh Longani
The Revenues from operations for the Period ended on June 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
2,306.12 Lakh, ₹
5,351.59 Lakh, ₹
1,979.91 Lakh, and ₹
1,318.43 Lakh, The EBITDA for the Period ended on June 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
448.63 Lakh, ₹
1,030.91 Lakh, ₹
629.02 Lakh, and ₹
99.83 Lakh, The Profit after Tax for the Period ended on June 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹
301.71 Lakh, ₹
609.81 Lakh, ₹
334.81 Lakh, and ₹
9.70 Lakh, respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹12.57 and post-issue EPS of ₹9.00 for FY25. The pre-issue P/E ratio is 19.01x,while the post-issue P/E ratio is 26.54x against the Industry P/E ratio is NAx The company's ROE for FY25 is 43.94% and RoNW is 27.69% The Annualised EPS is ₹17.82x and P/E is 13.41x. These metrics suggest that the IPO is Fully priced.
The Grey Market Premium (GMP) of Admach Systems showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Admach Systems Limited IPO for Listing gain or Long Term Purposes.
Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. We also use Artificial Intelligence (AI) tools to enhance the efficiency and quality of our research services, including data retrieval, analysis, and report summarization. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit Legal our website abhayvarn.com
About the Author
CA Abhay Kumar (Also known as CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.
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