Narmadesh Brass Industries IPO
GMP, Subscription, Price, Dates & Financial Details
Engineering - Industrial Equipments
Narmadesh Brass Industries Ltd. is a modern brass manufacturing company headquartered in Jamnagar, Gujarat, a city widely recognized as India’s “Brass City” due to its high concentration of brass manufacturing units.The company operates a state-of-the-art manufacturing facility spread across 6,293…
Open Date
Mon, 12 Jan 2026
Close Date
Fri, 16 Jan 2026
Issue Price
₹ 515
Lot Size
240
Issue Size
₹ 45.00 Cr
Minimum Investment
₹ 247,200 (480 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
Narmadesh Brass Industries 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 fixed price issue with a total issue size of ₹45.00 Crore, comprising a fresh issue of 6.55 Lakh equity shares aggregating to ₹34.00 Crore and an offer for sale (OFS) of 1.70 Lakh equity shares aggregating to ₹9.00 Crore by the existing shareholders.
The Narmadesh Brass Industries IPO remained open for subscription from January 12, 2026, to January 16, 2026. The basis of allotment was finalized on January 19, 2026, and the company's shares were listed on BSE SME Platform on January 21, 2026.
The company had fixed the price at ₹515 per share, with a lot size of 240 shares. Retail investors were required to make a minimum investment of ₹247,200 (based on the upper price band) to apply for one lot.
KFin Technologies Limited served as the registrar to the issue. Aryaman Financial Services Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Narmadesh Brass Industries 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.
Narmadesh Brass Industries IPO Timeline (Tentative)
- IPO Open Date
- Mon, 12 Jan 26
- IPO Close Date
- Fri, 16 Jan 26
- Basis of Allotment
- Mon, 19 Jan 26
- Initiation of Refunds
- Tue, 20 Jan 26
- Credit of Shares to Demat
- Tue, 20 Jan 26
- Listing Date
- Wed, 21 Jan 26 — NSE & BSE
Open Date
12 January 2026
Close Date
16 January 2026
Basis Of Allotment
19 January 2026
Listing Date
21 January 2026
IPO Subscription
Check Live Subscription →The Narmadesh Brass Industries IPO has received bids for 10,78,080 shares against 8,25,600 shares offered, resulting in an overall subscription of 1.31x. the NII category is subscribed 2.03x, Retail Investors 0.44x, and QIBs 0x.
QIB
0x
NII
2.03x
RII
0.44x
Total
1.31x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 4,12,800 shares, representing 50% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 0 shares (%), while Non-Institutional Investors (NIIs) receive 4,12,800 shares (50%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Non-Institutional | 412,800 | 50% |
| Retail Investors | 412,800 | 50% |
| Total | 825,600 | 100% |
Financials Details(₹ in Crores)
| Particular | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 63.1 | 59.66 | 46.68 | 22 |
| Revenue | 34.21 | 88.05 | 79.06 | 60.09 |
| Profit After Tax | 4.01 | 5.72 | 7.1 | 0.89 |
| Net Worth | 22.46 | 11.45 | 5.73 | 8.3 |
| Reserve & Surplus | 23.3 | 12.69 | 6.97 | 0 |
| Total Borrowings | 19.21 | 24.73 | 22.43 | 5.94 |
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.
Narmadesh Brass Industries Limited KPI Information
| Particular | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 17.86 | 49.99 | 123.94 | 10.77 |
| ROCE % | 13.31 | 23.29 | 37.05 | 11.2 |
| RoNW % | 17.86 | 49.99 | 123.94 | 10.77 |
| Pat Margin % | 11.74 | 6.52 | 9 | 1.49 |
Peers Comparison
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Narmadesh Brass Industries Ltd | 10 | 19.63 | 26.23 | 26.23 | 49.99 | 57.24 |
| Poojawestern Metaliks Ltd | 10 | 18.67 | 1.53 | 1.53 | 11.46 | 13.38 |
| Siyaram Recycling Industries Ltd | 10 | 8.10 | 6.69 | 6.69 | 11.49 | 58.24 |
About Narmadesh Brass Industries Limited
Narmadesh Brass Industries Ltd. is a modern brass manufacturing company headquartered in Jamnagar, Gujarat, a city widely recognized as India’s “Brass City” due to its high concentration of brass manufacturing units.
The company operates a state-of-the-art manufacturing facility spread across 6,293 square meters, located at Plot Nos. 5, 8 & 9, Shree Ganesh Industrial Hub, Jamnagar. The integrated facility enables efficient production and stringent quality control across all stages of manufacturing.
Narmadesh Brass Industries Ltd. specializes in the production of a diverse range of brass products catering to both domestic and international markets. The company’s product portfolio includes:
- Brass Billets
- Brass Rods
- Brass Valves, including Ball Valves and Non-Return Valves (NRVs)
- Plumbing and Sanitary Fittings, including Lead-Free variants
- Agricultural Sprayer Components and Garden Fittings
- Customized Components manufactured through Casting, Forging, Turning, CNC, and VMC machining processes
All major manufacturing processes, including casting and forging, are carried out in-house, allowing the company to maintain strict control over product quality, consistency, and delivery timelines—from raw material processing to final dispatch.
The company is certified under ISO 9001:2015 for its Quality Management System, demonstrating its commitment to maintaining internationally recognized quality standards and continuous improvement.
As of September 30, 2025, Narmadesh Brass Industries Ltd. employed 81 contract laborers to support its manufacturing and operational activities.
Narmadesh Brass Industries IPO Promoters
- M/s. Sprayking Limited
- Mr. Hitesh Dudhagara
- Mrs. Ronak Dudhagara
Promoters Holding
Holding Pre Issue
99.92%
Holding Post Issue
71.84%
Narmadesh Brass Industries IPO Objective
The Company Narmadesh Brass Industries IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Repayment/ prepayment, in full or in part, of certain outstanding borrowings
- Purchase of machinery and equipment
- Funding Working capital requirements
- General Corporate Purpose
Narmadesh Brass Industries Limited Address / Contact Details
Narmadesh Brass Industries Ltd.
Plot No. 5, 8 & 9
Survey No. 433, Shree Ganesh Industrial Hub
Changa Village
Jamnagar, Gujarat, 361012
Phone: +91 028 95299401
Email: info@narmadeshbrass.com
Website: https://www.narmadeshbrass.com/
IPO Snapshot
Narmadesh Brass Industries IPO Lot Size
The Narmadesh Brass Industries IPO has a lot size of 240 shares. Retail investors require a minimum investment of ₹2,47,200 by applying for 2 lot (480 shares). The maximum application allowed for the retail category is 2 lots (480 shares), requiring an investment of ₹2,47,200.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 480 | 247,200.00 |
| Retail (Max) | 2 | 480 | 247,200.00 |
| S-HNI (Min) | 3 | 720 | 370,800.00 |
Issue Reservation
- NII — 50%
- RII — 50%
Book Running Lead Managers
- Aryaman Financial Services Limited
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 Narmadesh Brass Industries IPO?
Narmadesh Brass Industries IPO is a Fixed price IPO with a total issue size of ₹45 crore. The Narmadesh Brass Industries IPO price band is ₹515 to 515 per share. The Narmadesh Brass Industries IPO subscription opens on Mon, Jan 12, 2026, and closes on Fri, Jan 16, 2026. The Narmadesh Brass Industries IPO will be listed on the BSE. KFin Technologies Limited is the registrar for the Narmadesh Brass Industries IPO.
When will the Narmadesh Brass Industries IPO open for subscription?
The Narmadesh Brass Industries IPO opens on Mon, Jan 12, 2026 and closes on Fri, Jan 16, 2026
What is Narmadesh Brass Industries IPO Price Band?
Narmadesh Brass Industries IPO Price Band is ₹515 to 515 per share.
What is Narmadesh Brass Industries IPO Lot Size?
Narmadesh Brass Industries IPO lot size is 240 shares, Retail investors need a minimum investment of ₹247200 based on the upper price band
What is the minimum investment for Narmadesh Brass Industries IPO?
The minimum investment for Narmadesh Brass Industries IPO is ₹247200, based on one lot of 240 shares at the upper price band of ₹515 per share.
How to apply for Narmadesh Brass Industries IPO?
Investors can apply for the Narmadesh Brass Industries 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 Fri, Jan 16, 2026. The application amount remains blocked until the Narmadesh Brass Industries IPO allotment is finalized.
What is Narmadesh Brass Industries IPO Issue Size?
Narmadesh Brass Industries IPO issue size is ₹45 crores.
What is the Narmadesh Brass Industries IPO Allotment Date?
Narmadesh Brass Industries IPO allotment date is Mon, Jan 19, 2026.
Who is the Narmadesh Brass Industries IPO Registrar?
The registrar for Narmadesh Brass Industries IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check Narmadesh Brass Industries IPO allotment status, refund processing, and other IPO-related information.
What is the Narmadesh Brass Industries IPO GMP?
The Narmadesh Brass Industries IPO GMP (Grey Market Premium) is ₹0 as of Fri, Jan 16, 2026. Based on the upper price band of ₹515 per share, the estimated Narmadesh Brass Industries IPO listing price is ₹515, indicating a potential listing gain of approximately 0.00% over the issue price.
Who is the Narmadesh Brass Industries IPO Lead Manager?
The book-running lead managers (BRLMs) for the Narmadesh Brass Industries IPO are Aryaman Financial Services Limited. 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 Narmadesh Brass Industries IPO Red Herring Prospectus (RHP).