Admach Systems IPO is a book-built issue worth ₹42.60 crore, comprising a fresh issue of 0.18 crore equity shares. The IPO will open for subscription on December 23, 2025, and close on December 26, 2025. The allotment is expected to be finalised on December 29, 2025, with the company slated to list on the BSE SME platform on December 31, 2025.
The price band for the issue has been fixed at ₹227 to ₹239 per share. Investors can apply in lots of 600 shares. For retail investors, the minimum application size is two lots or 1,200 shares, requiring an investment of ₹2,86,800 at the upper end of the price band. High net-worth individuals must apply for a minimum of three lots, or 1,800 shares, translating into an investment of ₹4,30,200.
Aftertrade Broking Pvt. Ltd is acting as the book-running lead manager for the issue, while Maashitla Securities Pvt. Ltd has been appointed as the registrar. The market-making responsibilities will be handled by NNM Securities Pvt. Ltd and Aftertrade Broking Pvt. Ltd. Refer to Admach Systems IPO RHP for complete details.
Admach Systems IPO Objectives
The company plans to utilise the Net Proceeds from the issue for the following purposes:
- The company plans to use ₹1,647.43 lakh from the proceeds to fund capital expenditure, including the purchase of new machinery and related installation costs.
- ₹1,550.00 lakh of the proceeds will be utilised to meet the working capital requirements of the company.
- For general corporate purposes.
About Admach Systems Limited
Admach Systems Limited designs and builds machines for the Indian and global engineering industry. The company offers customised solutions tailored to meet the unique requirements of various sectors, including the steel industry, automobile industry, food industry, tooling industry, and other engineering industries.
Its areas of specialisation include special purpose machines, automation, assembly machines, packaging machines, product design, and robotic material handling systems. Admach Systems Limited manufactures, exports, and supplies a range of customised special purpose machines.
The company also provides comprehensive after-sales support, including maintenance, repair, and technical services, to ensure optimal performance of its products throughout their lifecycle. These services are offered exclusively for machines manufactured and supplied by the company, both domestically and internationally. Domestic service charges are determined at the time of order finalisation or as per mutually agreed terms with the customer.
Admach Systems Limited is committed to delivering innovative, high-quality products through a strong focus on research, design, and engineering. Maintaining strict quality control is central to its operations, ensuring reliability, durability, and safety of its products.
The company efficiently manages complex supply chains to source essential materials and components for manufacturing. As of 31st March 2025, more than 13 customers have been associated with the company for over 15 years, and it served more than 34 customers in the last financial year.
The company has an installed production capacity of 100 units per year for its range of products, including automation systems for machine tools, press machines, special purpose machines, material handling systems, and various robotic and testing systems.
In the financial year 2024-25, Admach Systems Limited executed 100 units. In the preceding years, it executed 80 units in FY 2023-24 and 52 units in FY 2022-23, reflecting a consistent increase in production and capacity utilisation over the past three years.
Industry Outlook
- India’s domestic steel demand is expected to grow by 9–10% in FY25, while steel production is projected to increase by 4–7%, reaching 123–127 MT in FY24, driven by the availability of raw materials and cost-effective labor.
- By 2030–31, India’s crude steel production is estimated to reach 255 MT, with finished steel production expected to hit 230 MT, assuming an 85% capacity utilisation, indicating robust long-term growth potential.
- Government initiatives provide crucial resources, incentives, infrastructure, and training, helping businesses expand operations, improve efficiency, and enhance competitiveness, fostering sustainable growth in the steel sector.
How To Apply for the Admach Systems IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Admach Systems IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Admach Systems IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Admach Systems Limited
Registered office: Survey No 122, Village Nandoshi, Off Pune Sinhagad Road, Khadakwasla R.S., Pune – 411 024, Maharashtra, India.
Phone: +91-7020909040
Email: admach@admach.co.in
Admach Systems IPO Reservation
| Investor Category | Shares Offered | % of Total Shares Offered |
| Market Maker | 89,400 | 5.02% |
| QIB | 5,92,200 | 33.22% |
| − Anchor Investor | 3,36,600 | 18.88% |
| − QIB (Excluding Anchor) | 2,55,600 | 14.34% |
| NII (HNI) | 3,79,800 | 21.31% |
| Retail | 7,21,200 | 40.46% |
| Total | 17,82,600 | 100.00% |
Admach Systems IPO Lot Size Details
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 1200 | ₹2,86,800 |
| Individual investors (Retail) (Max) | 2 | 1200 | ₹2,86,800 |
| HNI (Min) | 3 | 1800 | ₹4,30,200 |
Admach Systems IPO Promoter Holding
The promoters of the company include Ajay Chamanlal Longani, Rajni Ajay Longani, Mahesh Chamanlal Longani and Sonal Mahesh Longani.
| Share Holding Pre-Issue | 71.87% |
| Share Holding Post Issue | 52.95% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Admach Systems IPO
| KPI | Value (FY 2025) |
| RoCE (%) | 44.00 |
| RoE (%) | 43.94 |
| Current Ratio | 1.52 |
| EBITDA Margin (%) | 19.32 |
| PAT Margin (%) | 11.43 |
Admach Systems IPO Registrar and Lead Managers
Admach Systems IPO Lead Managers
- Aftertrade Broking Pvt Ltd
Registrar for Admach Systems IPO
Maashitla Securities Pvt Ltd
- Phone: +91-11-45121795-96
- Email: contact@maashitla.com
Financial Performance of Admach Systems Limited
| Particulars | June 30, 2025 | FY 2024-25 | FY 2023-24 | FY 2022-23 |
| Revenue from Operations (₹ in lakhs) | 2,304.10 | 5,335.82 | 1,968.24 | 1,310.48 |
| EBITDA (₹ in lakhs) | 448.63 | 1,030.91 | 629.02 | 99.83 |
| PAT (₹ in lakhs) | 301.71 | 609.81 | 334.81 | 9.70 |
| Net Worth (₹ in lakhs) | 2,504.31 | 2,202.60 | 572.88 | 238.08 |
| Current Ratio | 1.59 | 1.52 | 1.23 | 1.13 |
| Debt-Equity Ratio (times) | 0.41 | 0.48 | 2.72 | 3.55 |
Peer Comparison
| Name of the Company | Revenue from Operations (₹ in Lakhs) | Basic EPS (₹) | P/E (based on Diluted EPS) | Return on Average Net Worth (%) |
| Admach Systems Limited | 5,335.82 | 12.57 | - | 27.69% |
| Affordable Robotic & Automation Ltd | 16,047.26 | 5.32 | 41.72 | 5.38% |
| Bemco Hydraulics Limited | 8,276.86 | 42.09 | 2.52 | 15.00% |
Strengths and Opportunities of Admach Systems Limited
- Admach Systems Limited serves both domestic and international markets, exporting to countries such as China, Italy, South Korea, Dubai, and Russia, with orders in hand worth ₹4,422.12 lakh.
- The company has multi-level quality checks for raw materials and final products, ensuring consistent high-quality output and enhancing brand value.
- By aligning operations with customer needs and technological advancements, Admach Systems creates customised solutions that foster long-term client partnerships.
- Continuous development of new product designs helps strengthen relationships with existing customers while attracting new clients from untapped geographies.
- The company has potential to grow its presence in under-penetrated regions, including India and international markets for automotive and engineering components.
Risks and Threats of Admach Systems Limited
- The company’s business is heavily dependent on the performance of the steel and non-destructive testing equipment industries, and any downturn in these sectors could adversely impact operations, cash flows, and financial condition.
- A significant portion of revenue is derived from the sale of Steel Machines, Non-Destructive Testing equipment, and Packaging Machines, making the company vulnerable to changes in product demand or quality issues.
- Failure to anticipate changing customer preferences or maintain product quality could harm demand, weaken brand loyalty, and negatively affect financial performance.
- A substantial portion of revenue comes from the domestic market, particularly the Maharashtra region; any adverse developments in this region could impact business operations and financial results.
- The company does not have long-term agreements with most suppliers, and inability to accurately forecast demand or manage inventory and working capital may adversely affect operations and financial condition.
