Apollo Techno Industries IPO – Full Overview
Apollo Techno Industries Limited has launched its initial public offering (IPO) set to open on 23 December 2025 and close on 26 December 2025. The IPO is a book-built issue to be listed on the BSE SME platform, offering investors an opportunity to participate in the niche industrial manufacturing segment.
Key Details:
- IPO Opening Date: 23 December 2025
- IPO Closing Date: 26 December 2025
- Price Band: ₹123 – ₹130 per share
- Face Value: ₹10 per share
- Issue Size: ₹45.37 – ₹47.96 crore (fresh issue)
- Lot Size: 1,000 shares
- Minimum Investment: ~₹1,23,000 (at lower price band)
- Listing Exchange: BSE SME
- Tentative Listing Date: 31 December 2025
The IPO comprises up to 36,89,000 equity shares entirely as a fresh issue, with no offer for sale component.
Company Background
Apollo Techno Industries Limited is a Gujarat-based manufacturer specializing in construction and drilling equipment, with a focus on Horizontal Directional Drilling (HDD) rigs, Diaphragm Wall Drilling Rigs, Rotary Drilling Rigs, and related spare parts.
The company caters to diverse end-user industries such as infrastructure, utilities, oil & gas, water supply, telecommunications, and building construction, both within India and in select export markets.
Some segments where Apollo Techno’s equipment is deployed include:
- Gas, water, and sewer pipeline installation
- Optical fibre cable and electrical conduit laying
- Deep basement, metro, airport, and bridge foundations
- High-rise building projects
The company also provides warranties, on-site support, and technical training to customers, underpinned by in-house design and engineering capabilities and SAP-ERP-enabled manufacturing processes.
Financial Overview
For the year ended March 31, 2025, Apollo Techno Industries reported:
- Revenue from Operations: ₹9,914.09 lakh
- EBITDA: ₹1,815.31 lakh (EBITDA Margin ~18.31%)
- Profit After Tax (PAT): ₹1,378.84 lakh (PAT Margin ~13.84%)
- Return on Equity (ROE): ~74.75%
- Return on Capital Employed (ROCE): ~30.98%
These figures suggest healthy profitability and solid margins for a capital goods manufacturer operating in a specialized niche.
IPO Objectives & Use of Proceeds
According to the IPO’s Red Herring Prospectus (RHP), the company intends to use the proceeds primarily for:
- Meeting working capital requirements, which supports day-to-day operations; and
- General corporate purposes such as business expansion and strategic initiatives.
These objectives are typical for SME IPOs where operational scaling forms a key part of growth strategies.
Grey Market Premium (GMP) Status
Early grey market activity for Apollo Techno Industries IPO suggests that traders are tracking the Grey Market Premium (GMP) — an unofficial indicator of expected listing performance — though specific premium numbers fluctuate frequently and should be monitored close to the issue closing date.
📌 Note: GMP is not a guaranteed predictor of actual listing price or aftermarket performance and varies with sentiment and subscription trends.
IPO Analysis
Strengths
✔ Niche manufacturing play: Apollo Techno is among the few domestic manufacturers of HDD rigs and foundation equipment, reducing dependency on imports.
✔ Infrastructure demand tailwinds: India’s infrastructure growth and utility expansion support demand for specialized drilling equipment.
✔ Robust margins: Reported profitability metrics and ROE indicate efficient operations relative to peers.
✔ Export diversification: Sales to markets like UAE, Nepal and China expand revenue beyond domestic demand.
Risks & Considerations
❌ SME listing risks: Shares listed on SME platforms often exhibit lower liquidity and higher volatility than mainboard stocks.
❌ Capital intensity: Manufacturing heavy equipment is capital intensive and subject to cyclicality in construction demand.
❌ Subscription appetite: Investor interest for niche industrial IPOs can be variable; monitoring subscription trends is advisable.
Conclusion
The Apollo Techno Industries IPO presents a specialized manufacturing investment opportunity in the construction equipment space, with a price band of ₹123–130 and an SME listing on the BSE. Strong profitability metrics and a unique niche product range make it noteworthy for investors seeking exposure to infrastructure and engineering sectors. However, potential applicants should weigh liquidity considerations, cyclical demand risks, and subscription momentum before investing.
Disclaimer: This article is informational and should not be construed as financial advice. Consult a qualified investment advisor before making decisions.
