BSE SME Amtech Esters makes a strong debut

Amtech Esters traded at Rs 105 on the BSE, a 40% premium to the issue price of Rs 75.

The scrip was listed at Rs 100, a 33.33% premium to the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 105 and a low of Rs 95. About 12.19 lakh shares of the company changed hands at the counter.

Amtech Esters' IPO was subscribed 23.97 times. The issue opened for bidding on 9 September 2026 and closed on 11 September 2026. The price band was fixed at Rs 71 to Rs 75 per share.

The IPO comprised a fresh issue of 17,07,200 equity shares. The promoter shareholding declined to 45.54% post-issue from 62.35% before the IPO.

The company plans to use the net proceeds to invest in its wholly owned subsidiary, Croda Pigment, through debt. The funds will support the subsidiary's capital expenditure and incremental working capital requirements. The proceeds will also be used to repay or prepay certain borrowings, fund inorganic growth through unidentified acquisitions and meet general corporate purposes.