Sumax Engineering Launches IPO to Fund New Manufacturing Units

Sumax Engineering Limited, a manufacturer of automotive tapes and surface-finishing products based in Secunderabad, announced an Initial Public Offering on the NSE EMERGE SME platform. The book-built offer includes up to 5,287,200 equity shares with a price band set between 95 and 101 per share.

The offering consists of a fresh issue of up to 4,291,200 shares and an offer for sale of up to 996,000 shares. The public subscription period is scheduled from August 25 to August 28, 2026, with the anchor investor date set for August 24, 2026.

The company will use the net proceeds from the fresh issue to finance capital expenditures for two new manufacturing facilities: Unit I in Karoli, Rajasthan, and Unit II in Nimana, Haryana. Remaining funds will be used for working capital and general corporate purposes. GYR Capital Advisors Private Limited is serving as the Book Running Lead Manager, while Care Ratings Limited will monitor how the proceeds are utilized.