Defrail Technologies IPO
GMP, Subscription, Price, Dates & Financial Details
Rubber Products
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…
Open Date
Fri, 09 Jan 2026
Close Date
Tue, 13 Jan 2026
Price Band
₹ 70 – 74
Lot Size
1600
Issue Size
₹ 14.00 Cr
Minimum Investment
₹ 236,800 (3200 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Defrail Technologies IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹14.00 Crore.
The Defrail Technologies IPO remained open for subscription from January 09, 2026, to January 13, 2026. The basis of allotment was finalized on January 14, 2026, and the company's shares were listed on BSE SME Platform on January 19, 2026.
The company had fixed the price band at ₹70 to ₹74 per share, with a lot size of 1600 shares. Retail investors were required to make a minimum investment of ₹236,800 (based on the upper price band) to apply for one lot.
Maashitla Securities Pvt. Limited served as the registrar to the issue. NEXGEN Financial Solutions Pvt. Ltd. acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Defrail Technologies Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Defrail Technologies IPO Timeline (Tentative)
- IPO Open Date
- Fri, 09 Jan 26
- IPO Close Date
- Tue, 13 Jan 26
- Basis of Allotment
- Wed, 14 Jan 26
- Initiation of Refunds
- Thu, 15 Jan 26
- Credit of Shares to Demat
- Thu, 15 Jan 26
- Listing Date
- Mon, 19 Jan 26 — NSE & BSE
Open Date
09 January 2026
Close Date
13 January 2026
Basis Of Allotment
14 January 2026
Listing Date
19 January 2026
IPO Subscription
Check Live Subscription →The Defrail Technologies IPO has received bids for 13,18,04,800 shares against 12,48,000 shares offered, resulting in an overall subscription of 105.61x. the NII category is subscribed 161.3x, Retail Investors 101.28x, and QIBs 71.09x.
QIB
71.09x
NII
161.3x
RII
101.28x
Total
105.61x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 6,24,000 shares, representing 50% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 3,55,200 shares (28.46%), while Non-Institutional Investors (NIIs) receive 2,68,800 shares (21.54%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 355,200 | 28.46% |
| Non-Institutional | 268,800 | 21.54% |
| BNII | 177,600 | 14.23% |
| SNII | 91,200 | 7.31% |
| Retail Investors | 624,000 | 50% |
| Total | 1,248,000 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Defrail Technologies Limited KPI Information
| 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 |
| Pat Margin % | 3.85 | 5.49 | 14.7 |
Peers Comparison
| 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 |
About Defrail Technologies Limited
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.
Defrail Technologies IPO 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%
Defrail Technologies IPO Objective
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
Defrail Technologies Limited Address / Contact Details
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
Defrail Technologies IPO Lot Size
The Defrail Technologies IPO has a lot size of 1,600 shares. Retail investors require a minimum investment of ₹2,36,800 by applying for 2 lot (3,200 shares). The maximum application allowed for the retail category is 2 lots (3,200 shares), requiring an investment of ₹2,36,800.
| 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 |
Issue Reservation
- QIB — 28.46%
- NII — 21.54%
- RII — 50%
Book Running Lead Managers
- NEXGEN Financial Solutions Pvt. Ltd.
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Defrail Technologies IPO?
Defrail Technologies IPO is a Book-building IPO with a total issue size of ₹14 crore. The Defrail Technologies IPO price band is ₹70 to 74 per share. The Defrail Technologies IPO subscription opens on Fri, Jan 9, 2026, and closes on Tue, Jan 13, 2026. The Defrail Technologies IPO will be listed on the BSE. Maashitla Securities Pvt. Limited is the registrar for the Defrail Technologies IPO.
When will the Defrail Technologies IPO open for subscription?
The Defrail Technologies IPO opens on Fri, Jan 9, 2026 and closes on Tue, Jan 13, 2026
What is Defrail Technologies IPO Price Band?
Defrail Technologies IPO Price Band is ₹70 to 74 per share.
What is Defrail Technologies IPO Lot Size?
Defrail Technologies IPO lot size is 1600 shares, Retail investors need a minimum investment of ₹236800 based on the upper price band
What is the minimum investment for Defrail Technologies IPO?
The minimum investment for Defrail Technologies IPO is ₹236800, based on one lot of 1600 shares at the upper price band of ₹74 per share.
How to apply for Defrail Technologies IPO?
Investors can apply for the Defrail Technologies IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Jan 13, 2026. The application amount remains blocked until the Defrail Technologies IPO allotment is finalized.
What is Defrail Technologies IPO Issue Size?
Defrail Technologies IPO issue size is ₹14 crores.
What is the Defrail Technologies IPO Allotment Date?
Defrail Technologies IPO allotment date is Wed, Jan 14, 2026.
Who is the Defrail Technologies IPO Registrar?
The registrar for Defrail Technologies IPO is Maashitla Securities Pvt. Limited. Investors can go to Maashitla Securities Pvt. Limited website to check Defrail Technologies IPO allotment status, refund processing, and other IPO-related information.
What is the Defrail Technologies IPO GMP?
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 22.97% over the issue price.
Who is the Defrail Technologies IPO Lead Manager?
The book-running lead managers (BRLMs) for the Defrail Technologies IPO are NEXGEN Financial Solutions Pvt. Ltd.. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Defrail Technologies IPO Red Herring Prospectus (RHP).