Updated on 16.05.2026|10:52 PM
Autofurnish Limited is set to launch its Initial Public Offering (IPO). It is a manufacturer and trader of premium automobile accessories (such as 7D/9D car mats, body covers, and organizers).
The public issue will open for subscription on Thursday, May 21, 2026, and close on Monday, May 25, 2026.
Through this fixed-price fresh issue, the company aims to raise approximately ₹14.60 Crores at a price of ₹41 per equity share.
The proceeds are directed towards machinery acquisition and funding working capital requirements. Track all the IPOs of 2026 at our latest IPO calendar.
In this article, you will find Autofurnish IPO GMP today, price band, and a detailed review with financials and valuations.
Briefs of Autofurnish IPO Details:
- Issue Price: ₹41 per share (Fixed Price)
- Face Value: ₹10 per share
- IPO Open / Close Dates: May 21, 2026 – May 25, 2026
- Lot Size: 3,000 Shares (Note: Retail Minimum Application is 2 Lots / 6,000 Shares)
- Issue Size: 35,61,000 Equity Shares / ~₹14.60 Crores
- Fresh Issue: 100% Fresh Issue
- Registrar: Skyline Financial Services Pvt. Ltd.
- Listing Exchange: BSE SME
IPO Reservation:
The offering comprises 35,61,000 shares. Excluding the 1,80,000 shares reserved for the Market Maker, the net offer to the public is 33,81,000 shares, allocated as follows:
- NII & QIB Portion (Non-Individual): Up to 16,89,000 Equity Shares. (Note: As a fixed-price issue, there is no separate Anchor Offer or specific QIB carve-out; institutional and HNI investors bid in this combined pool).
- Retail (RII) Portion: Not less than 16,92,000 Equity Shares.
What Is The Autofurnish IPO GMP Today?
Check live trends for this and other IPOs on our GMP hub page.
Note that the Grey Market Premium (GMP) is an unofficial, unregulated metric that changes daily with market demand. Do not base your final investment decisions strictly on grey market data
What Are The Important Autofurnish IPO Dates & Allotment Schedule?
For investors planning their capital allocation, here is the critical timeline for the issue:
- IPO Open Date: Thursday, May 21, 2026
- IPO Close Date: Monday, May 25, 2026
- Basis of Allotment Date: Tuesday, May 26, 2026
- Refund Initiation Date: Wednesday, May 27, 2026
- Credit of Shares: Wednesday, May 27, 2026
- Listing Date: Friday, May 29, 2026
What Are The Objectives of Autofurnish IPO?
The company proposes to utilize the Net Proceeds from the Fresh Issue towards the following strategic purposes:
- Working Capital: The majority of the funds, ₹9.30 Crores, are earmarked to meet day-to-day operating requirements, including inventory procurement and managing supplier payments.
- Capital Expenditure: ₹1.89 Crores is allocated for purchasing and installing new machinery to enhance capacity and introduce new product lines like OEM-style car seat covers.
- General Corporate Purposes: The remaining balance will be used for technology upgrades, strategic initiatives, and administrative needs.
How is The Financial Performance of Autofurnish?
The following table summarizes the financial performance of the company based on restated consolidated financial statements.
(Figures in ₹ Crores)
Particulars | Period Ended 31 Dec 25 (9M) | FY 2024-25 | FY 2023-24 | FY 2022-23 |
Total Income | 28.32 | 33.88 | 15.92 | 10.60 |
Profit After Tax (PAT) | 2.83 | 3.46 | 1.60 | 0.16 |
EBITDA | 4.79 | 5.11 | 2.82 | 0.85 |
Total Borrowing | 10.63 | 5.33 | 2.97 | 2.98 |
Assets | 33.50 | 23.28 | 16.01 | 14.11 |
Financial Analysis & Observations:
Total Income:
The company has demonstrated impressive revenue scaling, growing from ₹10.60 Crores in FY23 to ₹33.88 Crores in FY25.
This surge was primarily driven by the resumption of in-house manufacturing in April 2024 (after previous operational disruptions) and the strategic acquisition of its subsidiary, Golden Mace, to capture B2C online retail sales.
Profit After Tax (PAT):
Profitability followed the revenue trajectory, with PAT expanding significantly from a mere ₹0.16 Crores in FY23 to ₹3.46 Crores in FY25.
The PAT margin improvement highlights the successful shift from a low-margin trading model (in FY24) back to a higher-margin integrated manufacturing model.
EBITDA:
Operational efficiency improved markedly, with EBITDA jumping to ₹5.11 Crores in FY25.
The EBITDA margin expanded to over 15% in FY25, reflecting better capacity utilization (which reached 73.63% in FY25).
Total Borrowing:
To fund rapid expansion and increasing inventory needs, total borrowings spiked to ₹10.63 Crores by December 2025.
This increase is a direct consequence of the working-capital-intensive nature of the manufacturing shift.
Assets:
The asset base more than doubled from ₹16.01 Crores in FY24 to ₹33.50 Crores by December 2025, largely due to a significant build-up in inventories and trade receivables required to support the growing B2B and B2C sales channels.
What Are The P/E Ratio and Peer Comparison?
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹3.83, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 10.7x at the upper end of the price band (₹41).
P/E Ratio = ₹41(Price) / ₹3.83 (Earnings Per Share)
P/E Ratio ≈ 10.7x
Peer Comparison:
According to the Red Herring Prospectus (RHP), there are no directly comparable listed industry peers for Autofurnish Limited, owing to the niche nature of specialized auto accessories (like 7D/9D mats) and specific entry barriers.
Analysis:
In the absence of direct peers, investors must evaluate the valuation against broader industry metrics.
The broader auto ancillary industry trades at an average P/E ratio of approximately 37.2x. At a P/E multiple of 10.70x based on FY25 earnings, Autofurnish appears to be priced conservatively.
Furthermore, the company has a robust Return on Net Worth (RoNW) of 23.50% and Return on Capital Employed (RoCE) of 33.74% in FY25, suggesting highly efficient capital utilization which may justify a premium over traditional manufacturers.
What is The Industry Outlook of Autofurnish Limited?
Growth Potential:
The Indian automotive component industry is projected to reach $300 billion by 2026. The rising middle class, increasing vehicle ownership, and a growing trend of vehicle customization and aftermarket upgrades provide strong macroeconomic tailwinds for premium auto accessories.
Market Trends:
There is a clear shift toward direct-to-consumer (D2C) channels. Autofurnish’s strategy to integrate its subsidiary to handle Amazon/Flipkart sales positions it well to capture higher-margin B2C revenue streams alongside its traditional B2B base.
What Are The Strengths and Risks of Autofurnish IPO?
Strengths:
- Asset-Light Manufacturing: Utilizing modular machinery rather than heavy capital-intensive setups limits fixed overheads while allowing for scalability.
- High Return Ratios: Strong RoCE (~33%) and RoNW (~23%) indicate excellent management of deployed capital.
- Margin Expansion: The transition back to in-house manufacturing and the D2C push have structurally improved the company's EBITDA margins.
Risks:
- Customer Concentration: The top 10 customers accounted for over 66% of revenue in FY25. Loss of a key B2B client could severely impact financials.
- Negative Cash Flows: Despite accounting profits, the company reported negative cash flow from operating activities (-₹3.23 Crores in FY25 and -₹4.34 Crores in Dec '25) due to working capital lock-up in inventory.
- Past Disruptions: A historical dispute over a Business Transfer Agreement led to a complete halt of manufacturing between Nov 2022 and Mar 2024, highlighting operational vulnerability.
Key Considerations for Investors
Investors should note the Minimum Investment structure.
- Minimum Application: The lot size is 3,000 Shares. Based on the data provided, the minimum application for Retail Individual Investors is 2 Lots (6,000 Shares), amounting to ₹2,46,000. Note: This investment amount exceeds the typical ₹2 Lakh retail limit, which implies this category effectively targets Small-HNI investors.
- Valuation: At ~10.7x P/E, the pricing leaves significant room for upside when compared to the broader auto ancillary average of ~37x.
- Risk Profile: The company shows rapid growth and high returns; however, the persistent negative operating cash flows and high client concentration are critical risks that require careful monitoring.
Key Takeaways
- IPO Price: ₹41 per share (Fixed Price).
- Min Investment: ₹2,46,000 (6,000 Shares).
- Financials: Revenue ₹33.88 Cr (FY25);
- Allotment: May 26, 2026
- Listing: BSE SME platform on May 29, 2026.
Important Links:
4. IPO GMP vs Listing Accuracy Study 2026
5. IPO Listing Performance Tracker 2026 – Complete Dataset of IPO Listing Gains in India
FAQs on Autofurnish IPO
What is Autofurnish IPO GMP today?
Check the latest gmp of this and other IPOs at our updated gmp section.
What is Autofurnish IPO price band?
The issue price is fixed at ₹41 per equity share.
What is Autofurnish IPO allotment date?
The allotment status is expected to be finalized on Tuesday, May 26, 2026.
How to check Autofurnish IPO allotment status?
Investors can check the status on the website of Skyline Financial Services Pvt. Ltd. (the Registrar) or via the BSE IPO allotment portal.
What is Autofurnish IPO listing date?
The shares are tentatively scheduled to list on Friday, May 29, 2026.
Investment Perspective on Autofurnish IPO
Autofurnish offers a high-growth opportunity in the niche auto-accessories aftermarket with very attractive valuation and return metrics.
However, the high ticket size for retail investors, coupled with risks related to negative cash flows and previous manufacturing disruptions, means investors must weigh the strong fundamentals against the operational history.
Disclaimer:
This article is strictly for educational purposes. Please consult a SEBI-registered investment advisor before making any investment decisions.
