Divya Agarwal
The Issue comprises a fresh issue of 14,00,000 equity shares aggregating up to Rs. 19.74 crore
Vadodara (Gujarat) [India], June 29: Seemax Resources Limited (“Company”), a Gujarat-based company engaged in providing material handling equipment (MHE) rental solutions and trading of material handling equipment, announced the opening of its Initial Public Offering (IPO). The Issue will open for subscription on Tuesday, June 30, 2026, and will close on Thursday, July 2, 2026. The Company is proposed to be listed on the BSE SME platform with a tentative listing date of July 7, 2026. The Price Band has been fixed at Rs. 134 to Rs. 141 per equity share, and the total Issue Size is up to Rs. 19.74 crore.
Highlights:
- The IPO comprises a fresh issue of 14,00,000 equity shares aggregating up to Rs. 19.74 crore, with a price band of Rs. 134 to Rs. 141 per equity share
- The Company intends to utilise Rs. 10.00 crore towards the purchase of material handling equipment, Rs. 1.50 crore towards repayment and/or prepayment of borrowings, and Rs. 3.25 crore towards funding long-term working capital requirements
- For the nine months ended December 31, 2025, the Company reported revenue from operations of Rs. 12.37 crore and profit after tax of Rs. 2.15 crore
| Particulars | Details |
| IPO Open | June 30, 2026 |
| IPO Close | July 2, 2026 |
| Issue Price | Rs. 134 – Rs. 141 per Equity Share |
| Issue Size | Up to Rs. 19.74 Crore |
| Fresh Issue | 14,00,000 Equity Shares |
| Lot Size | 1,000 Equity Shares |
The IPO comprises a fresh issue of 14,00,000 equity shares of face value Rs. 10 each through the book-building process. The lot size for the application is 1,000 equity shares. The minimum amount of investment required by an individual investor (retail) is Rs. 2,82,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to Rs. 4,23,000. Wealth Mine Networks Pvt.Ltd is the Book Running Lead Manager to the Issue, while Cameo Corporate Services Ltd. is the Registrar to the Issue. The basis of allotment is expected to be finalized on July 3, 2026.
The Company intends to utilise Rs. 10.00 crore from the net proceeds towards capital expenditure for the purchase of material handling equipment, Rs. 1.50 crore towards repayment and/or prepayment of certain borrowings availed from banks and financial institutions, and Rs. 3.25 crore towards funding its long-term working capital requirements. The remaining funds will be used for general corporate purposes.
Commenting on the IPO, Mr. Amit Naldev Trivedi, Promoter and Managing Director of Seemax Resources Limited, said, “The launch of our IPO marks an important milestone in Seemax Resources’ growth journey. The proceeds from the IPO will support the expansion of our equipment fleet, strengthen our working capital position, and enable us to pursue future growth opportunities. With increasing demand from sectors such as logistics, infrastructure, manufacturing and construction, we believe we are well-positioned to capitalize on the opportunities ahead and create long-term value for all our stakeholders.
Seemax Resources Limited has established a strong presence in the material handling equipment rental and trading segment, serving customers across industries such as automotive, steel, cement, logistics, construction, aviation, and railways. The Company offers a wide range of equipment solutions that help customers improve operational efficiency while optimizing capital costs. For the nine months ended December 31, 2025, the Company reported total income of Rs. 12.43 crore and profit after tax of Rs. 2.24 crore. Led by an experienced management team and a diversified customer base across multiple industries, the Company continues to focus on delivering reliable and cost-effective material handling solutions to its clients.
Going forward, Seemax Resources Limited aims to build on the strong momentum witnessed across its rental solutions business, which remains the primary contributor to its revenues. The Company continues to focus on strengthening its equipment base, expanding its presence across key user industries, and enhancing its ability to cater to evolving customer requirements. Leveraging its industry experience and established market presence, Seemax Resources remains committed to pursuing sustainable growth and long-term value creation.”
About Seemax Resources Limited
Seemax Resources Limited is engaged in the business of providing material handling equipment (MHE) rental solutions and trading of material handling equipment. The Company serves a diverse customer base across industries, including automotive, steel, cement, logistics, construction, aviation, and railways. With a focus on operational reliability and customer-centric service, Seemax Resources offers a wide range of equipment solutions designed to support efficient material handling operations across various industrial applications.
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