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Apollo Techno Industries IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
Apollo Techno Industries Limited is an Indian manufacturing company engaged in the design and production of construction and drilling equipment. The company primarily earns revenue through the sale of drilling rigs and related equipment used in infrastructure, mining, water, and road construction projects. Its products are used by contractors and infrastructure developers across India, supporting core construction and industrial activities.
Apollo Techno Industries, an Book Built Issue, amounting to ₹45.96 Crore,consisting entirely an fresh issue of 0.37 crore shares of ₹45.96Crore.The subscription period for the Apollo Techno Industries 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 Apollo Techno Industries IPO is set at ₹123 to ₹130 per share per equity share. The Market Capitalisation of the Apollo Techno Industries at IPO price of ₹130 per equity share will be ₹
177.96 Crores. The lot size of the IPO is 1000 shares. Retail investors are required to invest a minimum of ₹
260,000 2 lots ( 2000 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is
3 lots (
3000 shares), amounting to ₹
390,000.
BEELINE CAPITAL ADVISORS PRIVATE LIMITED are the book running lead manager of the Apollo Techno Industries Ltd. while MUFG INTIME INDIA PRIVATE LIMITED is the registrar for the issue. The Market Maker of the company is Spread X Securities Pvt.Ltd.
Apollo Techno Industries Limited IPO GMP Today
The Grey Market Premium of Apollo Techno Industries 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.
Apollo Techno Industries Limited IPO Live Subscription Status Today: Real-Time Update
As of 10:30 AM on 25 December, 2025, the Apollo Techno Industries IPO live subscription status shows that the IPO subscribed 6.11 times on its Third Day of subscription period. Check the Apollo Techno Industries IPO Live Subscription Status Today at BSE.
Apollo Techno Industries Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Apollo Techno Industries IPO allotment date is 29 December 2025, Monday, Apollo Techno Industries IPO Allotment will be out on 29 December 2025, Monday, and will be live on Registrar Website from the allotment date.
Check MUFG INTIME INDIA PRIVATE LIMITED IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Apollo Techno Industries 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 Apollo Techno Industries Limited IPO
Apollo Techno Industries to utilise the Net Proceeds towards the following objects:
1. ₹3850.00 Lakh is required for To Meet Working Capital Requirements
2. General Corporate Purpose
Refer to Apollo Techno Industries Limited RHP for more details about the Company.
Apollo Techno Industries Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|---|---|---|---|
| December 18, 2025 | N/A | N/A | ₹0(0.0%) | 18 December 2025; 12:24 PM |
| December 18, 2025 | N/A | N/A | ₹0(0.0%) | 22 December 2025; 11:02 AM |
Apollo Techno Industries IPO Details
| Market Capitalization | ₹177.96 Cr. |
| IPO Date | December 23, 2025 to December 26, 2025 |
| Listing Date | December 31, 2025 |
| Face Value | ₹10 Per Share |
| Price Band | ₹123 to ₹130 per share |
| Issue Price | ₹130 per share |
| Employee Discount | NA |
| Lot Size | 1000 Equity Shares |
| Total Issue Size | 36,89,000 Equity Shares (aggregating to ₹47.96 Cr) |
| Fresh Issue | 36,89,000 Equity Shares (aggregating to ₹47.96 Cr) |
| Offer for Sale | NA |
| Issue Type | Book Built Issue |
| Listing At | BSE SME |
| Share holding pre issue | 1,00,00,000 |
| Share holding post issue | 1,36,89,000 |
| Rating | Avoid |
Apollo Techno Industries IPO Anchor Investors Details
| Bid Date | December 22, 2025 |
| Shares Offered | 10,50,000 |
| Anchor Portion Size (In Cr.) | 13.65 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 28, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 29, 2026 |
Apollo Techno Industries 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 |
Apollo Techno Industries IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| QIB Portion | 1,752,000 | Not less than 50% of the Net Offer |
| Non-Institutional Investor Portion | 525,600 | Not more than 15% of the Net Issue |
| Retail Shares Offered | 1,226,400 | Not more than 35% of the Net Offer |
| Market Maker Portion | 185,000 | - |
Apollo Techno Industries IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.05% |
Apollo Techno Industries IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹260,000 |
| Retail (Max) | 2 | 2,000 | ₹260,000 |
| S-HNI (Min) | 3 | 3,000 | ₹390,000 |
| S-HNI (Max) | 7 | 7,000 | ₹910,000 |
| B-HNI (Min) | 8 | 8,000 | ₹1,040,000 |
Apollo Techno Industries IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 7,00,000 | 11,61,000 | 1.66x | 25 December 2025; 11:53 AM |
| Non Institutional Investors(NIIS) | 7,11,000 | 64,50,000 | 9.07x | 25 December 2025; 11:54 AM |
| Retail Individual Investors (RIIs) | 12,28,000 | 85,04,000 | 6.93x | 25 December 2025; 11:54 AM |
| Total | 26,39,000 | 1,61,15,000 | 6.11x | 25 December 2025; 12:07 PM |
About Apollo Techno Industries Limited
Apollo Techno Industries Limited is an Indian manufacturing company engaged in the design and production of construction and drilling equipment. The company primarily earns revenue through the sale of drilling rigs and related equipment used in infrastructure, mining, water, and road construction projects. Its products are used by contractors and infrastructure developers across India, supporting core construction and industrial activities.
Key Clients & Manufacturing Facilities
The company serves infrastructure contractors, construction companies, and drilling service providers operating in roads, irrigation, mining, and water projects. Apollo Techno’s manufacturing facility is located at Mandali, Mehsana district, Gujarat, strategically positioned on the Ahmedabad–Mehsana highway. The facility is equipped for fabrication, machining, assembly, and quality testing, enabling in-house production and timely order execution.
Product Portfolio & Order Book Execution
Apollo Techno’s product portfolio includes drilling rigs and construction equipment used at early and execution stages of infrastructure projects. These products support critical phases such as soil testing, water drilling, and foundation work, directly impacting the project life cycle of clients. Orders are executed based on confirmed customer requirements, with focus on timely delivery, installation, and after-sales support to ensure repeat business.
Mergers, Capex & Expansion Plans
The company has converted into a public limited entity to support future growth and expansion. The IPO proceeds are proposed to be utilized for capital expenditure, working capital requirements, and strengthening manufacturing capabilities. Planned investments aim to improve production capacity, operational efficiency, and product development, supporting long-term scalability and enhanced market presence.
Employees & Banker Details
As on June 30, 2025 we have the total 154 Employees. The Banker to the Company is Kotak Mahindra Bank Limited and HDFC Bank Limited.
MANAGEMENT & VISION
The management team, led by experienced promoters and directors, focuses on sustainable growth, operational efficiency, and market expansion. Their near-term vision includes capacity enhancement and improved execution capabilities, while long-term goals target brand strengthening in the construction equipment segment. Funding for expansion and capex is planned through IPO proceeds, internal accruals, and banking relationships, ensuring a balanced capital structure.
INDUSTRY OVERVIEW
Apollo Techno operates in the Construction Equipment Industry, a key segment supporting India’s infrastructure development.
- Indian construction equipment market is valued at several billion USD, driven by road projects, mining, irrigation, and urban infrastructure.
- The industry is growing at an estimated 8–10% CAGR, supported by government spending and private investments.
- Globally, the construction equipment market runs into hundreds of billions of USD, with steady growth of 5–7% annually.
- Market leaders include global OEMs and strong domestic manufacturers, with India emerging as a key growth market.
KEY RISK FACTORS
- Dependence on Infrastructure Spending
The company’s performance is closely linked to infrastructure and construction activity. Any slowdown in government or private sector spending may directly impact order inflow and revenue visibility. - Customer Concentration Risk
Revenue is derived from a limited base of contractors and project operators. Loss of key customers or delays in their projects could affect cash flows and operational stability. - Raw Material Price Volatility
Fluctuations in steel and component prices can impact manufacturing costs. Inability to pass on cost increases may affect margins and profitability. - Execution and Delivery Risk
Timely execution of orders depends on production efficiency, supply chain stability, and logistics. Any disruption can lead to delays, penalties, or customer dissatisfaction. - Competition Risk
The construction equipment industry is competitive with established domestic and global players. Increased competition may pressure pricing and market share. - Regulatory and Compliance Risk
The company is subject to industrial, environmental, and safety regulations. Non-compliance or changes in regulatory norms may increase costs or disrupt operations.
KEY STRENGTHS & OPPORTUNITIES
- Strategic Manufacturing Location
The Gujarat-based facility offers logistical advantages, access to suppliers, and proximity to key infrastructure markets, supporting efficient production and distribution. - Focused Product Portfolio
Specialization in drilling and construction equipment allows the company to cater to niche infrastructure requirements with targeted solutions. - Experienced Promoter Group
The promoters bring operational and industry experience, enabling informed decision-making and disciplined execution strategies. - Growing Infrastructure Demand
Government-led infrastructure initiatives create long-term demand for drilling and construction equipment, offering sustained growth opportunities. - Scalable Business Model
Planned capex and capacity expansion provide scope for higher volumes, better cost absorption, and improved profitability. - Strong Banking Relationships
Established relationships with leading banks support working capital needs and future expansion funding.
Apollo Techno Industries 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 | 1,638.34 | 1,532.28 | 906.71 | 570.52 |
| Total Assets | 7,506.03 | 7,625.26 | 6,703.35 | 6,509.03 |
| Total Borrowings | 3,056.78 | 3,174.55 | 4,329.10 | 4,397.04 |
| Fixed Assets | 1,306.61 | 1,329.12 | 1,396.28 | 1,463.35 |
| Cash | 74.86 | 2.81 | 8.58 | 4.56 |
| Cash flow from operating activities | 244.20 | 1,446.07 | 280.35 | -96.83 |
| Cash flows from investing activities | -1.33 | -32.31 | 57.42 | 253.40 |
| Cash flow from financing activities | -170.88 | -1,418.82 | -324.86 | -386.09 |
| Net Borrowing | 2,981.92 | 3,171.74 | 4,320.52 | 4,392.48 |
| Revenue | 2,466.58 | 9,966.22 | 6,928.18 | 7,256.54 |
| EBITDA | 206.68 | 1,815.31 | 765.23 | 296.57 |
| PAT | 108.10 | 1,378.84 | 323.06 | 89.63 |
| PAT Margin | 4.38% | 13.84% | 4.66% | 1.24% |
| EPS | 1.08 | 13.79 | 3.23 | 0.9 |
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.) | 13.79 |
| EPS Post IPO (Rs.) | 10.07 |
| Adjusted 12M EPS Post IPO (Rs.) | 3.16 |
| P/E Pre IPO | 9.43 |
| P/E Post IPO | 12.91 |
| Adjusted 12M P/E Post IPO | 41.16 |
| ROE | 74.75% |
| ROCE | 30.98% |
| P/BV | 5.13 |
| Debt/Equity | 1.25 |
| RoNW | 54.45% |
| EBITDA Margin | 18.31% |
| PAT Margin | 13.84% |
Apollo Techno Industries Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| Apollo Techno Industries | 10.07 | 12.91 | 74.75% | 30.98% | 5.13 | 1.25 | 54.45% |
| Eimco Elecon (India) | 84.78 | 22.06 | 11.8 % | 16.0 % | 1.97 | 0.00 | 11.32% |
Apollo Techno Industries Limited Contact Details
Apollo Techno Industries Limited
Phone: +91 9875170439
Email: cs@apollotechno.com
Website: http://www.apollotechno.com
Apollo Techno Industries IPO Registrar and Lead Manager(s)
MUFG INTIME INDIA PRIVATE LIMITED
Phone: +91 810 811 4949
Email: apollotechno.smeipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com
BEELINE CAPITAL ADVISORS PRIVATE LIMITED
Phone: 079 4918 5784
Email: mb@beelinemb.com
Website: http://www.beelinemb.com
Apollo Techno Industries IPO Review
Apollo Techno Industries Limited is an Indian manufacturing company engaged in the design and production of construction and drilling equipment. The company primarily earns revenue through the sale of drilling rigs and related equipment used in infrastructure, mining, water, and road construction projects. Its products are used by contractors and infrastructure developers across India, supporting core construction and industrial activities.
The Company is led by Promoter, i.e., PARTH RASHMIKANT PATEL, RASHMIKANT HARIBHAI PATEL, MANJULABEN RASHMIKANT PATEL, PARTH PATEL (HUF) AND RASHMIKANT HARIBHAI PATEL HUF
The Revenues from operations for the Period ended on June 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
2,466.58 Lakh, ₹
9,966.22 Lakh, ₹
6,928.18 Lakh, and ₹
7,256.54 Lakh, The EBITDA for the Period ended on June 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
206.68 Lakh, ₹
1,815.31 Lakh, ₹
765.23 Lakh, and ₹
296.57 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 ₹
108.10 Lakh, ₹
1,378.84 Lakh, ₹
323.06 Lakh, and ₹
89.63 Lakh, respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹13.79 and post-issue EPS of ₹10.07 for FY25. The pre-issue P/E ratio is 9.43x,while the post-issue P/E ratio is 12.91x against the Industry P/E ratio is 22.06x The company's ROE for FY25 is 74.75% and RoNW is 54.45% The Annualised EPS is ₹3.16x and P/E is 41.16x. These metrics suggest that the IPO is Fully priced.
The Grey Market Premium (GMP) of Apollo Techno Industries showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Apollo Techno Industries 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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