Apollo Techno Industries IPO will open for subscription on December 23, 2025 and will close on December 26, 2025. This is a Book Build Issue through which the company plans to raise around ₹47.96 crore. The issue consists entirely of a fresh issue of ₹47.96 crore, while the offer for sale component is nil. Each equity share carries a face value of ₹10.
The Apollo Techno Industries IPO price band has been fixed at ₹123 to ₹130 per share. The IPO will be listed on the BSE SME platform, with the allotment expected to be finalised on December 29, 2025. The tentative listing date is December 31, 2025. Financially, the company has shown strong improvement in the latest fiscal year.
Revenue increased to ₹99.66 crore in FY2025 from ₹69.28 crore in FY2024, while profit jumped sharply to ₹13.79 crore from ₹3.23 crore during the same period. Based on the growth trajectory and improving profitability, long-term investors may consider evaluating this IPO.
Contents
Apollo Techno Industries IPO Details
| Details | Information |
|---|---|
| IPO Open Date | December 23, 2025 |
| IPO Close Date | December 26, 2025 |
| Face Value | ₹10 per equity share |
| Price Band | ₹123 to ₹130 per share |
| Issue Size | Approx ₹47.96 crore |
| Fresh Issue | Approx ₹47.96 crore |
| Offer for Sale | Nil |
| Issue Type | Book Build Issue |
| Listing | BSE SME |
| DRHP | View PDF |
| RHP | View PDF |
Apollo Techno Industries IPO
Open: 23-26 Dec
Issue Size: ₹47.96 Cr.
Objective: Support working capital and general corporate purposes.
Exchange: BSE SME
Apollo Techno Industries IPO GMP Today
Apollo Techno Industries SME IPO GMP is currently indicating a positive but stable trend in the grey market. As per the latest available data, the GMP stands at ₹7 on 30 December 2025, suggesting an estimated listing price of around ₹140 against the upper price band of ₹130. This indicates an expected gain of nearly 7.69% per share.
Over the last few sessions, the GMP has seen fluctuations, moving from a high of ₹18 to a low of ₹0, before settling at the current level. Earlier sessions reflected stronger listing expectations, but recent moderation shows cautious optimism among grey market participants.
Overall, the GMP trend still points towards a reasonable listing, though the sharp upside expectations have cooled slightly.
Apollo Techno Industries SME IPO Day-wise GMP Trend:
| Date | GMP | Estimated Listing Price | Expected Gain |
|---|---|---|---|
| 30-Dec-2025 | ₹7 | ₹137 | 5.38% |
| 29-Dec-2025 | ₹7 | ₹137 | 5.38% |
| 28-Dec-2025 | ₹12 | ₹142 | 9.23% |
| 27-Dec-2025 | ₹12 | ₹142 | 9.23% |
| 26-Dec-2025 | ₹12 | ₹142 | 9.23% |
| 25-Dec-2025 | ₹6 | ₹136 | 4.62% |
| 24-Dec-2025 | ₹6 | ₹136 | 4.62% |
| 23-Dec-2025 | ₹10 | ₹140 | 7.69% |
| 22-Dec-2025 | ₹15 | ₹145 | 11.54% |
| 21-Dec-2025 | ₹18 | ₹148 | 13.85% |
| 20-Dec-2025 | ₹18 | ₹148 | 13.85% |
| 19-Dec-2025 | ₹18 | ₹148 | 13.85% |
| 18-Dec-2025 | ₹0 | ₹130 | 0.00% |
The table shows that while early GMP levels reflected strong enthusiasm, the recent range-bound movement suggests a more balanced outlook heading closer to listing.
Disclaimer: IPO GMP, Kostak, and Subject to Sauda (Sub2) rates are unofficial and shared for informational purposes only. We do not trade or recommend participation in the grey market. GMP is not a guarantee of listing performance. Investors should apply after reviewing the company’s fundamentals and official offer documents.
Apollo Techno Industries IPO Review
Apollo Techno Industries operates in a niche segment of construction equipment manufacturing, focusing on trenchless technology and foundation equipment. The company has reported sharp improvement in profitability and margins in FY2025.
While the business shows growth potential, investors should consider valuation comfort and SME market risks before investing. Overall, the IPO is suitable for investors with a long-term perspective and moderate risk appetite.
Apollo Techno Industries IPO Market Lot
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2,000 | ₹2,60,000 |
| Retail Maximum | 2 | 2,000 | ₹2,60,000 |
| S-HNI Minimum | 3 | 3,000 | ₹3,90,000 |
| S-HNI Maximum | 7 | 7,000 | ₹9,10,000 |
| B-HNI Minimum | 8 | 8,000 | ₹10,40,000 |
- Also Read: Dachepalli Publishers IPO (22-24 Dec)
IPO Reservation
| Investor Category | Shares Offered | % Shares |
|---|---|---|
| Anchor Investor | 10,50,000 Shares | 28.46% |
| QIB (Ex-Anchor) | 7,00,000 Shares | 18.98% |
| NII Shares Offered | 5,26,000 Shares | 14.26% |
| Retail Shares Offered | 12,28,000 Shares | 33.29% |
Apollo Techno Industries IPO Anchor Investors
| Details | Information |
|---|---|
| Anchor Bidding Date | December 22, 2025 |
| Anchor Investors List | View PDF |
| Shares Offered | 10,50,000 Shares |
| Anchor Size | To be announced |
| Lock-in (30 Days) | January 28, 2026 |
| Lock-in (90 Days) | March 29, 2026 |
Apollo Techno Industries IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | December 23, 2025 |
| IPO Close Date | December 26, 2025 |
| Basis of Allotment | December 29, 2025 |
| Refunds | December 30, 2025 |
| Credit to Demat | December 30, 2025 |
| Listing Date | December 31, 2025 |
| Cut-off Time | December 26, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Mr. Parth Rashmikant Patel, Mr. Rashmikant Haribhai Patel, Mrs. Manjulaben Rashmikant Patel, Parth Patel (HUF), and Rashmikant Haribhai Patel HUF.
| Particulars | Shares | % Share |
|---|---|---|
| Promoter Holding Pre-Issue | 1,00,00,000 | 100.00% |
| Promoter Holding Post-Issue | 1,36,89,000 | – |
Objects of the Issue
The proceeds from the IPO will be primarily utilised to meet the company’s working capital requirements, which amount to ₹38.50 crore. The remaining funds will be used for general corporate purposes, supporting day-to-day operations and future business growth.
About Apollo Techno Industries Company
Apollo Techno Industries Limited was incorporated in 2016 and operates in the manufacturing and technology-driven construction equipment sector. The company specialises in trenchless technology and foundation equipment used in infrastructure and construction projects.
Its product portfolio includes Horizontal Directional Drilling rigs, Diaphragm Drilling Rigs, Rotary Drilling Rigs, and related spare parts. The company also provides refurbishment services and sustainable engineering solutions.
Apollo Techno Industries has an in-house design and engineering team, which enables it to deliver customised and quality-driven solutions. With a growing domestic presence and expanding international footprint, the company has demonstrated strong operational and financial growth in recent years.
Company Financial Report (₹ in crore)
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | 72.57 | 71.40 | 0.90 | 65.09 |
| 2024 | 69.28 | 64.67 | 3.23 | 67.03 |
| 2025 | 99.66 | 84.85 | 13.79 | 76.25 |
| June 2025 | 24.67 | 23.25 | 1.08 | 75.06 |
Apollo Techno Industries IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE | 74.75% |
| ROCE | 30.98% |
| EBITDA Margin | 18.31% |
| PAT Margin | 13.84% |
| Debt to Equity | 1.25 |
| EPS (Basic) | ₹13.79 |
| P/E Ratio | N/A |
| RoNW | 54.45% |
| NAV | ₹25.32 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Eimco Elecon (India) Ltd | 84.78 | 22.06 | 11.32% | 748.81 | 246.47 Cr |
IPO Lead Managers
Beeline Capital Advisors Pvt. Ltd.
Company Address
| Particular | Details |
|---|---|
| Company Name | Apollo Techno Industries Limited |
| Address | Survey No. 60, Ahmedabad–Mehsana Highway, Mandali, Dist. Mahesana – 384455, Gujarat, India |
| Phone | +91 9875170439 |
| cs@apollotechno.com | |
| Website | http://www.apollotechno.com/ |
IPO Registrar
| Particular | Details |
|---|---|
| Registrar | MUFG Intime India Pvt. Ltd. |
| Phone | +91-22-4918 6270 |
| apollotechno.smeipo@in.mpms.mufg.com | |
| Website | https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
Apollo Techno Industries IPO FAQs
What is Apollo Techno Industries IPO?
Apollo Techno Industries IPO is an SME IPO through which the company aims to raise ₹47.96 crore. The price band is fixed at ₹123 to ₹130 per share, and the IPO will be listed on BSE SME.
When will the IPO open?
The IPO will open on December 23, 2025 and close on December 26, 2025.
What is the investors’ quota?
QIB: 50%
NII: 15%
Retail: 35%
How can I apply for the IPO?
Investors can apply through ASBA via banks or UPI through stockbrokers. Offline applications through brokers are also available.
What is the issue size?
The issue size is ₹47.96 crore.
What is the lot size?
The minimum bid is 2,000 shares with an application amount of ₹2,60,000.
What is the allotment date?
The allotment is expected on December 29, 2025.
What is the listing date?
The IPO is expected to list on December 31, 2025 on BSE SME.
Expert Comment
Apollo Techno Industries has demonstrated strong revenue and profit growth in FY2025, supported by improving margins and operational efficiency.
While the SME nature of the issue carries inherent risks, the company’s niche positioning and financial turnaround make it a reasonable long-term consideration for informed investors who understand SME market volatility.
