Apollo Techno Industries IPO is a book-built issue aiming to raise ₹47.96 crore through an entirely fresh issue of 36.89 lakh equity shares. The IPO opens for subscription on December 23, 2025, and closes on December 26, 2025. The allotment is expected to be finalised on December 29, 2025, with refunds and credit of shares to demat accounts scheduled for December 30, 2025. The shares are proposed to be listed on BSE SME on December 31, 2025.
The price band for the IPO is fixed at ₹123 to ₹130 per share, with a face value of ₹10 per share. The lot size is 1,000 shares, and retail investors must apply for a minimum of 2 lots, amounting to 2,000 shares or ₹2,60,000 at the upper price band. The minimum application for HNI investors is 3 lots, comprising 3,000 shares amounting to ₹3,90,000. The pre-IPO market capitalisation of the company stands at ₹177.96 crore.
Out of the total 36.89 lakh shares offered, 1.85 lakh shares (5.01%) are reserved for the market maker. Qualified Institutional Buyers are allocated 17.50 lakh shares (47.44%), Non-Institutional Investors receive 5.26 lakh shares (14.26%), and Retail Individual Investors are allotted 12.28 lakh shares (33.29%). Anchor investors are allocated 10.50 lakh shares, accounting for 28.46% of the issue.
Beeline Capital Advisors Pvt. Ltd. is the book-running lead manager to the issue, while MUFG Intime India Pvt. Ltd. is the registrar. The market maker for the IPO is Spread X Securities Pvt. Ltd.
Industry Outlook
- The Indian construction equipment market is expanding at a healthy pace, driven by government-led infrastructure projects and urbanisation. Estimates suggest the market is projected to grow from roughly USD 8.55 billion in 2025 to around USD 12.76 billion by 2030, reflecting a compound annual growth rate (CAGR) of over 8% during this period. This growth is supported by increased expenditure on highways, railways, urban infrastructure and housing construction.
- The segment focused on horizontal directional drilling (HDD) and drilling equipment is also expected to expand. The India HDD market, valued at over USD 320 million in 2024, is forecast to grow at a CAGR of around 4–8% through the next decade, driven by demand for underground utility installations and infrastructure projects where minimal surface disruption is required.
- Infrastructure development remains a key growth driver, with utilities-related construction (such as gas pipelines, water and telecom networks) increasing the need for specialised drilling machines like HDD rigs. Globally, the HDD equipment market is projected to double by 2030, indicating strong long-term demand for trenchless technologies.
- Government initiatives in India aimed at enhancing infrastructure, local manufacturing (“Make in India”), and incentivising construction gear production support domestic equipment makers and broaden market opportunities. These policies can help reduce dependence on imports while encouraging technology adoption and industry growth.
Apollo Techno Industries IPO Objectives
The company proposes to utilise the net proceeds from the IPO for the following objectives:
- Funding Working Capital Requirements
To meet incremental working capital needs for supporting day-to-day operations, including inventory management, receivables, and operating expenses. - Supporting Business Expansion and Growth
To strengthen operational capabilities and support growth in manufacturing and supply of trenchless and foundation equipment. - Strengthening the Balance Sheet
To improve the company’s financial position by enhancing liquidity and supporting efficient capital management. - General Corporate Purposes
To meet general corporate expenses, strategic initiatives, and other business requirements as determined by the management and board.
About Apollo Techno Industries Limited
Apollo Techno Industries Limited is a specialised Indian manufacturer of construction and foundation drilling equipment, with headquarters on the Ahmedabad-Mehsana Highway in Mandali, Mehsana, Gujarat. The company was incorporated in April 2016 and has established itself as a domestic leader in trenchless drilling and foundation technology for the infrastructure sector.
The company’s core business is the design, engineering, manufacturing and supply of specialised drilling machines and related services. Its primary product portfolio includes Horizontal Directional Drilling (HDD) rigs, Diaphragm Wall Drilling Rigs, Rotary Drilling Rigs, spare parts, and refurbishment services. These products are used for underground utility installations, deep foundation work, retaining structures, and piling for infrastructure projects such as pipelines, metro stations, bridges, and high-rise buildings.
Apollo Techno differentiates itself as one of the few domestic manufacturers of HDD and diaphragm wall drilling equipment, reducing reliance on imported machinery in India’s growing infrastructure market. The company’s manufacturing process operates on modern systems (including SAP ERP) and emphasises quality, on-site support, operator training, and timely parts availability.
Promoted by industry professionals including Mr Parth Rashmikant Patel and Mr Rashmikant Haribhai Patel, the company serves both domestic and export markets, with strategic focus on customer relationships and product innovation.
Apollo Techno’s financial performance has shown significant growth in recent years, reflecting its expanding market presence and demand for trenchless and foundation equipment in India’s infrastructure build-out.
How To Check the Allotment Status of the Apollo Techno Industries 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.
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How To Apply for Apollo Techno Industries 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 Apollo Techno Industries 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.
