The Liotech Industries IPO has a fixed issue size of ₹36.02 crore. This issue comprises a fresh issue of 0.09 crore shares worth ₹28.89 crore and an Offer for Sale (OFS) of 0.02 crore shares worth ₹7.13 crore.
The Liotech Industries IPO will open for subscription on June 17, 2026, and close on June 19, 2026. Share allotment for the IPO is expected to be finalized on June 22, 2026. The IPO will be listed on the BSE SME platform, with the tentative listing date set for June 24, 2026.
The final issue price for the Liotech Industries IPO has been fixed at ₹321 per share. The lot size for applications is 400 shares. The minimum investment amount required for an individual (retail) investor is ₹2,56,800 (for 800 shares), based on the upper price band. For HNIs, the minimum investment is 3 lots (1,200 shares), amounting to ₹3,85,200.
Wealth Mine Networks Pvt. Ltd. is the book-running lead manager, and Kfin Technologies Ltd. is the registrar for the issue. Aikyam Capital Pvt. Ltd. is the market maker for the company.
Liotech Industries Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| INDIVIDUAL | 2 | 800 | 256800 | 665 |
| HNI | 3 | 1200 | 385200 | 443 |
Liotech Industries Reservation
| Category | Shares Offered | % |
|---|---|---|
| Total | 1122000 | 100% |
| HNI | 532000 | 47.42% |
| INDIVIDUAL | 532000 | 47.42% |
| Market Maker | 58000 | 5.17% |
Liotech Industries About
IPO Details
| Total Issue Size | 11,22,000 shares (aggregating up to ₹36.02 Cr) |
| Fresh Issue | 9,00,000 shares (aggregating up to ₹28.89 Cr) |
| Offer For Sale | 2,22,000 shares (aggregating up to ₹7.13 Cr) |
| Face Value | ₹10/- Per Share |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 30,00,000 shares |
| Share Holding Post Issue | 39,00,000 shares |
| Reserved for Market Maker | 58,000 shares (aggregating up to ₹1.86 Cr) |
| Market Maker | Aikyam Capital Private Limited |
Key Performance Indicators (KPI)
| KPI | Dec-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| ROE | 34.44% | 39.86% | 46.58% | 14.65% |
| ROCE | 44.45% | 50.43% | 47.53% | 14.75% |
| EPS (BASIC) | 18.29 | 13.88 | 10.42 | 2.72 |
| P/E Pre IPO | 23.13 |
Issue Details / Capital History
The company is coming out with its maiden combo IPO of 1122000 equity shares of Rs. 10 each at a fixed price of Rs. 321 per share to mobilize Rs. 36.02 cr. The IPO consists of 900000 fresh equity shares worth Rs. 28.89 cr., and an Offer for Sale (OFS) of 222000 equity shares worth Rs. 7.13 cr. The minimum application to be made is for 800 shares and in multiples of 400 shares thereon, thereafter. The issue opens for subscription on June 01, 2026 and will close on June 03, 2026. The shares will be listed on BSE SME. The IPO constitute 28.77% of the post-IPO paid-up capital of the company. The company is spending Rs. 4.61 cr. for this IPO process (Fresh equity issue portion only), and from the net proceeds of the issue, it will utilize Rs. 4.95 cr. for repayment/prepayment of certain borrowings, Rs. 7.00 cr. for working capital, Rs. 8.00 cr. for acquiring machinery, and Rs. 4.33 cr. for general corporate purposes.
The IPO is solely lead managed by Wealth Mine Networks Pvt. Ltd., and KFin Technologies Ltd. is the registrar to the issue. Aikyam Capital Pvt. Ltd., is the market maker. The IPO is underwritten to the tune of 15.00% by Wealth Mine Networks, and 85.00% by Aikyam Capital.
The company has issued entire initial equity capital at par value. The average cost of acquisition of shares by the promoters is Rs. 0.00, and Rs. 20.00 per share.
Post-IPO, company’s current paid-up equity capital of Rs. 3.00 cr. will stand enhanced to Rs. 3.90 cr. Based on the upper band of the IPO pricing, the company is looking for a market cap of Rs. 125.19 cr.
Financial Performance
On the financial performance front, for the last three fiscals, the company has posted total revenue/ net profit, of Rs. 8.50 cr. / Rs. 0.35 cr. (FY23), Rs. 27.87 cr. / Rs. 2.93 cr. (FY24), Rs. 40.69 cr. / Rs. 4.16 cr. (FY25). For 9M of FY26 ended on December 31, 2025, it earned a net profit of Rs. 5.49 cr. on a total revenue of Rs. 51.79 cr. which a big surprise posted by the company. It marked growth in its top lines from FY24 onwards but sudden boost in its profit margins raises eyebrows.
For the last three fiscals, the company has reported an average EPS of Rs. 10.87 and an average RoNW of 37.90%. The issue is priced at a P/BV of 6.04 based on its NAV of Rs. 53.12 per share as of December 31, 2025, and at a P/BV of 2.79 based on its post IPO NAV of Rs. 114.94 per share.
If we attribute FY26 annualized super earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 17.11, and based on FY25 earnings, the P/E stands at 30.06. The issue appears aggressively priced based on its recent earnings.
The company has posted PAT Margins of 4.06% (FY23), 10.50% (FY24), 10.24% (FY25), 10.64% (9M-FY26), and ROCE margins of 14.75%, 47.53%, 50.43%, 44.45%, respectively for referred periods.
All amounts in Indian Rupees crores
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹8.50 | ₹8.05 | ₹0.35 | ₹4.02 |
| 2024 | ₹27.87 | ₹24.08 | ₹2.93 | ₹14.09 |
| 2025 | ₹40.69 | ₹35.08 | ₹4.16 | ₹19.77 |
| Dec 2025 | ₹51.79 | ₹44.45 | ₹5.49 | ₹30.50 |
About Company
Liotech Industries Limited (formerly known as Liotech Industries Private Limited) was established on 17 June 2020 and is located at Shapar, Rajkot, Gujarat. The company was formed with the objective of manufacturing and supplying hardware accessories through a structured approach developed by industry experts appointed by the promoters.
Manufacturing
The company is engaged in the design, detailing, fabrication, and erection of various hardware accessories and structures. Its manufacturing facility is equipped with modern designing and detailing resources, advanced machinery, and necessary equipment to ensure precision, quality assurance, and efficient production processes.
Liotech Industries operates primarily on a B2B business model, catering to the requirements of different industrial and commercial customers. The company has the capability to design and manufacture a wide range of hardware structures based on customer requirements.
The company strongly believes that quality and customer service are the foundation of a successful organization. It focuses on delivering high-quality products, timely service, and value-driven solutions to ensure customer satisfaction from order placement to final product application.
Liotech Industries continues to focus on innovation, technological advancement, product quality, and competitive pricing while working towards long-term growth and customer trust. Over the years, the company has supplied quality products to several well-known buildings and companies across India.
Strength
Experienced Management Team: The company is led by experienced Promoters and management professionals with strong expertise in the iron and steel industry. Their industry knowledge and operational experience support business growth and strategic expansion.
Strong Quality Standards: The company follows stringent quality control processes and operates ISO 9001:2015 certified manufacturing units. Its products also comply with international construction product standards, ensuring consistency in quality and service.
Diversified Product Portfolio: The company manufactures a wide range of hardware accessories and engineering products across more than 150 specifications, catering to sectors such as housing, infrastructure, agriculture, automotive, power, cement, mining, and engineering.
Risk Factors
Customer concentration risk: A significant portion of revenue is derived from key customers and absence of long-term contracts may affect revenue stability.
Raw material supply dependency risk: The company relies on suppliers for uninterrupted raw material availability and price volatility may impact profitability.
Geographical concentration risk: Business operations are concentrated in specific regions and any adverse developments in these areas may affect operations and financial performance.