Defrail Technologies IPO
Open SmeCurrent GMP
₹17 (+22.97%)
Price Band
₹ 70 – 74
Lot Size
1600
Issue Size
₹14 Cr
Minimum Investment
₹236800 (3200 Shares)
Listing Date
19 January 2026
Subscription
105.61x
About the Company
Defrail Technologies Limited was incorporated in October 2023 and is engaged in the manufacturing of rubber parts and components. The company’s product portfolio includes rubber hoses and assemblies, rubber profiles and beadings, and moulded rubber parts. These products cater to a wide range of industries, including automotive, railways, and defence. Defrail Technologies offers both standardised products and customised solutions tailored to meet specific operational and technical requirements of its clients.
The company’s legacy dates back to 1980 with the establishment of Vikas Rubber Industries, which laid the foundation for its manufacturing expertise. In 2008, Impex Hitech Rubber was formed to expand capabilities and serve B2B customers more effectively. On April 1, 2024, both Vikas Rubber Industries and Impex Hitech Rubber were consolidated into Defrail Technologies Limited through Business Transfer Agreements, creating a unified entity with enhanced operational scale and capabilities.
Defrail Technologies primarily operates on a business-to-business (B2B) model, supplying bulk orders mainly to clients in the automotive sector. In addition, the company services the business-to-government (B2G) segment, supplying products directly to government bodies such as Indian Railways and the Defence sector.
The company operates two manufacturing facilities located in Faridabad, Haryana, as detailed below:
- Neemka, Tigaon Road, Sector 71 – 2,420 sq. yards
- Sector 24, Faridabad – 4,833.33 sq. yards
Both facilities are equipped with advanced machinery and infrastructure that enable the manufacture of a diverse range of rubber products, including diesel and petroleum hose pipes, LPG hose pipes, nylon tubes, gaskets, grommets, air intake hoses, EPDM profiles, rubber sponges, and aluminium window rubber beadings.
Defrail Technologies Limited is ISO 9001:2015 certified, reflecting its commitment to quality management systems. The company is also registered as a seller on the Government e-Marketplace (GeM), enabling participation in government procurement tenders and vendor contracts.
As of November 30, 2025, the company employs 298 permanent employees, supporting its manufacturing, quality, and operational functions.
Promoters
- Mr. Vivek Aggarwal
- Mr. Abhishek Aggarwal
- Ms. Ashi Aggarwal
- Mr. Dinesh Aggarwal
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
73.52%
Objects of the Issue
The Company Defrail Technologies IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Capital Expenditure- Purchase of Equipment/Machineries
- Capital Expenditure- Purchase and installation of Solar Panel at our Manufacturing Plant
- General Corporate Purposes
Address / Contact Info
Defrail Technologies Ltd.
Plot no 180, Sector 24, Faridabad,
Sector 22, Faridabad,
Haryana
Faridabad, Haryana, 121005
Phone: 0129 - 487 8760
Email: cs@defrailtech.com
Website: https://www.defrailtech.in/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Friday, 09 January 2026
IPO Close Date
Tuesday, 13 January 2026
Basis of Allotment
Wednesday, 14 January 2026
Initiation of Refunds
Thursday, 15 January 2026
Credit of Shares to Demat
Thursday, 15 January 2026
Listing Date
Monday, 19 January 2026 — NSE & BSE
Important Dates
Open Date
09 January 2026
Close Date
13 January 2026
Basis Of Allotment
14 January 2026
Listing Date
19 January 2026
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 37.22 | 33.91 | 1.22 |
| Revenue | 39.08 | 62.22 | 0.72 |
| Profit After Tax | 1.51 | 3.42 | 0.11 |
| Net Worth | 10.62 | 9.12 | 0.16 |
| Reserve & Surplus | 5.46 | 3.96 | 0.11 |
| Total Borrowings | 11.78 | 11.56 | 0.41 |
EPS Pre
6.62%
EPS Post
4.29%
P/E Pre
11.18
P/E (Post Issue)
17.25x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Sep 2025 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 11.44 | 73.72 | 67.81 |
| ROCE % | 13.28 | 24.43 | -2.52 |
| Debt / Equity | 1.11 | 1.27 | 2.66 |
| RoNW % | 11.44 | 73.72 | 67.81 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 3.85 | 5.49 | 14.7 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 355200 | 28.46 | 0 |
| Non-Institutional | 268800 | 21.54 | 0 |
| BNII | 177600 | 14.23 | 0 |
| SNII | 91200 | 7.31 | 0 |
| Retail Investors | 624000 | 50 | 0 |
| Total | 1248000 | 100 | 0 |
Subscription Status ( Tue, 13 Jan 26 01:43 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 355200 | 25249600 | 71.09x |
| Non-Institutional | 268800 | 43358400 | 161.3x |
| Retail Investors | 624000 | 63196800 | 101.28x |
| Total | 1248000 | 131804800 | 105.61x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Defrail Technologies Ltd | 10 | 0.00 | 2.96 | 2.96 | 11.76 | 20.36 |
| Pentagon Rubber Ltd | 10 | 86.59 | 0.82 | 0.82 | 1.95 | 4.22 |
| Gujrat Reclaim & Rubber Product Ltd | 10 | 265.72 | 6.36 | 6.36 | 1.73 | 36.14 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | 236,800.00 |
| Retail (Max) | 2 | 3,200 | 236,800.00 |
| S-HNI (Min) | 3 | 4,800 | 355,200.00 |
| S-HNI (Max) | 8 | 12,800 | 947,200.00 |
| B-HNI (Min) | 9 | 14,400 | 1,065,600.00 |
Registrar
Maashitla Securities Pvt. Limited
011-45121795-96
investor.ipo@maashitla.com
https://www.maashitla.com
Book Running Lead Managers
- NEXGEN Financial Solutions Pvt. Ltd.
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Defrail Technologies IPO is a Book-building IPO worth ₹14 crores. The price band is ₹70 to 74 per share. The IPO opens on Fri, Jan 9, 2026 and closes on Tue, Jan 13, 2026. It will be listed on BSE and NSE. Maashitla Securities Pvt. Limited is the registrar.
The Defrail Technologies IPO opens on Fri, Jan 9, 2026 and closes on Tue, Jan 13, 2026
Defrail Technologies IPO Price Band is ₹70 to 74.
Defrail Technologies IPO lot size is 1600, and the minimum amount required for application is ₹236800.
The minimum investment for Defrail Technologies IPO is approximately ₹236800 based on the upper price band.
To apply for the Defrail Technologies IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Tue, Jan 13, 2026. After submission, funds are blocked until the basis of allotment of Defrail Technologies IPO is finalised.
Defrail Technologies IPO issue size is ₹14 crores.
Defrail Technologies IPO allotment date is Sat, Jun 27, 2026.
The registrar for Defrail Technologies IPO is Maashitla Securities Pvt. Limited. Investors can go to Maashitla Securities Pvt. Limited website for IPO allotment status, refund processing, and other queries related to Defrail Technologies IPO through their official website or helpline.
The Defrail Technologies IPO GMP (Grey Market Premium) is ₹17 as of Sun, Jan 18, 2026. Based on the upper price band of ₹74 per share, the estimated Defrail Technologies IPO listing price is ₹91, indicating a potential listing gain of approximately 31% over the issue price.