Apollo Techno Industries IPO

Apollo Techno Industries IPO is an SME public issue of a mining and construction equipment manufacturer, opening on December 23, 2025 and closing on December 26, 2025, with listing scheduled on December 31, 2025. The issue is largely for working capital, backed by strong recent profitability and high return ratios, but comes with typical SME and sector‑specific risks.​

Apollo Techno Industries IPO overview

Apollo Techno Industries Limited manufactures and supplies niche products such as drill machines, wagon drills, loaders, and allied mining and construction equipment from its facility in Gujarat, catering to infrastructure, mining and allied sectors. The IPO is a fresh issue on the SME platform, aimed at funding growth through enhanced working capital and general corporate purposes.​

Key IPO details

• IPO open date: December 23, 2025
• IPO close date: December 26, 2025
• Basis of allotment: December 29, 2025
• Refunds & credit to Demat: December 30, 2025
• Listing date: December 31, 2025
• IPO bidding cut‑off time: December 26, 2025 – 5 PM.​
• Issue Price :- Rs 130 per share
• Total issue size :- 48 Crore

Financials and valuation snapshot

Apollo Techno Industries has delivered improving financial performance over the last three years.​

Apollo Techno Industries Ltd.'s revenue increased by 44% and profit after tax (PAT) rose by 327% between the financial year ending with March 31, 2025 and March 31, 2024.

Period Ended	30 Jun 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	75.06	76.25	67.03	65.09
Total Income	24.67	99.66	69.28	72.57
Profit After Tax	1.08	13.79	3.23	0.90
EBITDA	2.07	18.15	7.65	2.97
NET Worth	26.38	25.32	11.57	8.21
Reserves and Surplus	16.38	15.32	9.07	5.71
Total Borrowing	30.57	31.75	43.29	43.97
Amount in ₹ Crore

 

Key FY25 metrics:​

• ROE: 74.75%
• ROCE: 30.98%
• EBITDA margin: 18.31%
• PAT margin: 13.84%
• Debt‑equity ratio: 1.25
• EPS (basic): ₹13.79
• RoNW: 54.45%
• NAV: ₹25.32 per share.

Peer comparison features Eimco Elecon (India) Ltd, where Apollo’s RoNW and margins are higher, reflecting strong capital efficiency albeit on a smaller base.​

Issue size, lot and investor reservation

• Minimum market lot: 2,000 shares
• Retail minimum & maximum: 1 lot (2,000 shares) – application amount ₹2,60,000.​
• S‑HNI: 3–7 lots (3,000–7,000 shares); B‑HNI: from 8 lots (8,000 shares).​

Reservation structure:​

• Anchor investors: 10,50,000 shares (28.46%)
• QIB (ex‑anchor): 7,00,000 shares (18.98%)
• NII: 5,26,000 shares (14.26%)
• Retail: 12,28,000 shares (33.29%)

Promoters are Mr. Parth Rashmikant Patel, Mr. Rashmikant Haribhai Patel, Mrs. Manjulaben Rashmikant Patel, Parth Patel (HUF), and Rashmikant Haribhai Patel HUF; promoter holding reduces from 100% pre‑issue (1,00,00,000 shares) to 73.03% post‑issue (1,36,89,000 shares), indicating continued high skin in the game.​

Objective of the issue

• To meet working capital requirements – ₹38.50 crore
• General corporate purposes.​

This indicates the company is funding order execution and day‑to‑day operations rather than large capex, typical for a scaling manufacturing SME.

Key strengths

• Focused niche in trenchless technology and foundation equipment (HDD rigs, diaphragm and rotary drilling rigs) for construction and infrastructure.
• In‑house design and engineering team enabling customization, refurbishment and value‑added services.
• Strong growth momentum: revenue up 44% and PAT up 327% between FY24 and FY25.
• FY25 PAT of ₹13.79 crore on revenue of ₹99.66 crore, indicating improving operating leverage.
• Healthy profitability metrics in FY25 – EBITDA margin 18.31% and PAT margin 13.84%.
• Very high return ratios: ROE 74.75%, RoNW 54.45%, ROCE 30.98%.
• Promoters retain a dominant stake post‑issue (over 70%), signalling continued commitment.
• Meaningful QIB and anchor participation, reflecting institutional interest in the story.

Key risks

• SME‑platform listing with relatively small scale versus established listed peers like Eimco Elecon.
• Working‑capital–intensive model; IPO proceeds largely for working capital, not capacity expansion.
• Cyclical dependence on construction and infrastructure capex cycles.
• Customer and sector concentration risk in drilling/foundation equipment.
• Leverage risk with FY25 debt‑equity at 1.25.
• High return ratios partly on a low equity base; sustainability needs to be monitored.
• High minimum application size (₹2,60,000 for 1 lot of 2,000 shares) increases ticket‑size risk for retail investors.

How To Apply for the IPO ?

• Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services 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 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. 

How To Check the Allotment Status of IPO?

Steps to check IPO allotment status on JM Pro app: 

• Log in to the JM Pro 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. 

JM Financial Services will notify you of your IPO allotment status via push notification and email

FAQs – Apollo Techno Industries IPO

Q1. What does Apollo Techno Industries do?
Apollo Techno Industries manufactures mining and construction equipment such as drilling machines, loaders and allied products used in infrastructure and mining projects.​

Q2. What are the Apollo Techno Industries IPO dates?
The IPO opens on December 23, 2025 and closes on December 26, 2025; basis of allotment is on December 29, refunds and Demat credit on December 30, and listing on December 31, 2025.​

Q3. What is the market lot and minimum investment?
The minimum and maximum application for retail investors is 1 lot of 2,000 shares, requiring an investment of ₹2,60,000.​

Q4. How is the issue reserved among investor categories?
Around 28.46% is for anchor investors, 18.98% for QIBs (ex‑anchor), 14.26% for NIIs and 33.29% for retail investors, with the balance for other categories as disclosed.​

Q5. Who are the promoters and what is their post‑issue holding?
The Patel family and related HUFs are the promoters; their holding falls from 100% pre‑issue to 73.03% post‑issue (1,36,89,000 shares), suggesting continued control and commitment.​

Q6. What are the main objectives of the IPO proceeds?
The proceeds are primarily to fund working capital requirements amounting to ₹38.50 crore and for general corporate purposes.​

Q7. How has the company’s profitability trended?
PAT has improved from ₹0.90 crore in FY23 to ₹13.79 crore in FY25, with FY25 EBITDA margin at 18.31% and PAT margin at 13.84%, showcasing better operating leverage.​