Amtech Esters Ltd. IPO

The Company was originally incorporated as Private Limited Company under the name and style of ‘Amtech Esters Private Limited’ with the CIN ‘U24129DL2002PTC115465’, under the Companies Act, 1956 pursuant to Certificate of Incorporation dated May 21, 2002, issued by the Registrar of Companies, NCT of Delhi and Haryana. Later, the Company was converted to the Public Limited Company under the relevant provisions of Companies Act, 2013 under the name and style of ‘Amtech Esters Limited’ with the CIN ‘U24129DL2002PLC115465’ vide special resolution passed by the shareholders at the AGM held on September 30, 2023, and pursuant to which Registrar of Companies, Delhi issued fresh Certificate of Incorporation dated December 12, 2023. The Company is engaged in the B2B business of manufacturing of Unsaturated Polyester Resins (referred as “UPR” or “UPRs”) and trading in their complementary products like fiber resin, hardners & silicons and other ancillary products. By offering these complementary products along with the manufactured UPRs, we are able to provide customers with an integrated sourcing solution rather than a single-product offering. It also enables us to serve customers across different stages of the resin and FRP value chain, from base resin requirements to curing, reinforcement, finishing and application-specific consumables. Further, the wholly owned subsidiary, Croda Pigments Private Limited (referred as “CPPL”) is into the business of manufacturing pigments which are used as colourants and additives in various industrial and household products. CPPL operates in a vertically aligned line of business, complementing and expanding the operations. the product portfolio consists of polyester resin (referred as “UPRs”), fibreglass of different variants, hardener, silicons and pigments used in paints, varnishes, dyes, glue gums and allied
chemical applications. The production processes are designed to ensure that the products meet prescribed quality standards and customer requirements. We have established a Research & Development and Quality Control department, through which we continuously review and modify the production processes to cater to evolving customer requirements, improve product performance and maintain consistency in quality. the commitment to quality is validated by the ISO 9001:2015 certification, assuring customers of the adherence to stringent quality control processes throughout manufacturing.

The Company acquired 95.78% of the shareholding of CPPL during the FY 2023-24, pursuant to which Croda Pigments Private Limited became the subsidiary. Further, as on the date of this Red Herring Prospectus, we hold 100.00% of the shareholding of CPPL making it the wholly owned subsidiary. This acquisition enabled seamless integration of its operations with the existing business and supported strategic alignment within the overall product portfolio.