Seemax Resources Limited, a Gujarat-based company specializing in material handling equipment (MHE) rental solutions and trading, has announced the opening of its Initial Public Offering (IPO). The issue will be open for subscription from Tuesday, June 30, 2026, to 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. The IPO comprises a fresh issue of 14,00,000 equity shares of face value Rs 10 each through a book-building process.
Investment Details and Lot Size
The lot size for application is 1,000 equity shares. The minimum investment required for a retail individual investor is Rs 2,82,000 (2,000 shares) at the upper price band. For high net-worth individuals (HNI), the minimum lot size is 3 lots (3,000 shares), amounting to Rs 4,23,000.
Wealth Mine Networks Pvt. Ltd is the book running lead manager for the issue, while Cameo Corporate Services Ltd is the registrar. The basis of allotment is expected to be finalized on July 3, 2026.
Utilization of IPO Proceeds
The company intends to use Rs 10.00 crore from the net proceeds for capital expenditure on purchasing material handling equipment. Additionally, Rs 1.50 crore will be used for repayment or prepayment of certain borrowings from banks and financial institutions, and Rs 3.25 crore will fund long-term working capital requirements. The remaining funds will be allocated for general corporate purposes.
Management Commentary
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."
Financial Performance and Business Overview
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. Total income for the same period was Rs 12.43 crore, with a profit after tax of Rs 2.24 crore.
Seemax Resources Limited has established a strong presence in the MHE 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 designed to help customers improve operational efficiency while optimizing capital costs.
Led by an experienced management team and serving a diversified customer base across multiple industries, the company continues to focus on delivering reliable and cost-effective material handling solutions. Going forward, Seemax Resources aims to build on the strong momentum in its rental solutions business, which remains the primary revenue contributor. The company plans to strengthen its equipment base, expand its presence across key user industries, and enhance its ability to meet evolving customer requirements.
About Seemax Resources Limited
Seemax Resources Limited is engaged in providing material handling equipment 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 to support efficient material handling operations across various industrial applications.
