Apollo Techno Industries Ltd IPO
Capital Goods-Non Electrical Equipment
Price Band
₹123 – ₹130
Lot Size
1000
Minimum Bid Quantity
2000
Minimum Investment
₹260000
Issue Size
₹47.96Cr
Opens
2025-12-23
Closes
2025-12-26
Listing
31-12-2025
Subscription Status
Qualified Institutional Buyers
25.26 x
Non-Institutional Investor
72.73 x
Retail Individual Investor
43.96 x
Total
46.75 x
IPO Details
Issue Type
FP
Face Value
₹10
Tick Size
1
ISIN
INE0X4A01013
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Apollo Techno Industries Limited is a construction equipment manufacturer specialising in trenchless technology and foundation equipment for the construction industry. The company’s product range includes horizontal directional drilling rigs, diaphragm drilling rigs, rotary drilling rigs, and related spare parts, which are used for installing utilities such as gas pipelines, water, sewer lines, optical fibre cables, and electrical conduits, as well as for foundations for deep basements, retaining walls, high-rise buildings, and bridges. It also provides warranties, on-site support, technical training, and refurbishment services for used machines at its factory. Incorporated in April 2016, the company is based in Mehsana and operates in both domestic and export markets.
Pros
- • The company is ISO 9001:2015 certified for its quality management systems.
- • The company claims to follow a customer-centric approach and to have a domestic sales footprint across multiple Indian states.
- • Apollo Techno Industries claims to have in-house engineering and design capabilities, with a team of five members in its design department as of June 30, 2025. It claims that these capabilities have supported the export of the Apollo A800 HDD machine in 2017, the launch of the Apollo A1200 HDD machine in 2019, and the introduction of the Diaphragm Wall Drilling Rig Machine in 2023.
Cons
- • Gujarat accounted for Rs 8.69 crore (39.05 percent) of the company’s total domestic sales for the period ended June 30, 2025; Rs 39.67 crore (52.99 percent) in FY25; Rs 19.81 crore (35.93 percent) in FY24, and Rs 15.11 crore (22.10 percent) in FY23. Furthermore, the company’s manufacturing facility is located in this region. Any adverse political, social, or economic developments, or changes in state-level taxes, regulations, or infrastructure spending in Gujarat can negatively impact the company’s business, cash flows, and financial condition.
- • Horizontal directional drilling (HDD) machines accounted for Rs 12.01 crore (62.69 percent) of the company’s total sales of finished goods for the period ended June 30, 2025; Rs 45.16 crore (59.34 percent) in FY25; Rs 44.69 crore (79.41 percent) in FY24, and Rs 47.69 crore (97.39 percent) in FY23. Any significant reduction in demand for HDD machines or a shift by customers to competing suppliers, coupled with any failure to scale its diaphragm and rotary drilling rigs or new products, can adversely affect the company’s business, cash flows, and financial performance.
- • The top three customers accounted for 36.96 percent of the company’s revenue for the period ended June 30, 2025; 32.98 percent in FY25; 29.40 percent in FY24, and 25.06 percent in FY23. Furthermore, the company does not have any long-term agreements with these clients. Any inability to retain key customers, diversify the customer base, or avoid a loss or decline in business from them could materially harm the company’s operations, financial position, and cash flows.
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