- Issue price
- ₹74per share
- Issue size
- ₹13.77 Cr18,60,800 shares
- Face value
- ₹10per equity share
- Lot size
- 1,600 sharesMin. ₹1.18 L at the upper price
- Anchor biddingThu, 2026
- OpensFri, 2026
- ClosesTue, 2026
- AllotmentFri, 2026Refunds and Demat credit same day
- ListingMon, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 18,60,800 shares (₹13.77 Cr)
- Offer for sale
- None
- Total issue
- 18,60,800 shares (₹13.77 Cr)
- Market maker portion
- 94,400 shares
- Face value
- ₹10
- Listing at
- BSE SME
- Promoter holding
- 99.99% → 73.52%
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail41.4%
- Anchor34.4%
- NII17.9%
- Market maker6.3%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 6,24,000 | 44.22% | 35% |
| Non-institutional investors (NII) | 2,68,800 | 19.05% | 15% |
| Qualified institutional buyers (QIB) | 8,73,600 | 61.90% | 50% |
| Anchor investors | 5,18,400 | 36.73% | — |
| Market maker | 94,400 | — | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹74 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 2 | 3,200 | ₹2.37 L |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25 (consolidated), pre-issue- EPS (basic)
- ₹6.62
- EPS (basic) (Weighted average EPS (consolidated))
- ₹11.44
- P/E (FY 2024-25 at issue price of Rs 74 (consolidated))
- 11.18×
- RoNW
- 73.72%
- NAV per share (As on September 30, 2025 (consolidated))
- ₹20.58
- NAV per share (After offer at issue price (consolidated))
- ₹34.73
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Sep 20256 months | 31 Mar 202512 months | 31 Mar 202412 months |
|---|---|---|---|
| Revenue from operations | 39.08 | 62.21 | 0.72 |
| EBITDA | 3.44 | 5.78 | 0.14 |
| Profit after tax | 1.51 | 3.42 | 0.11 |
| Net worth | 10.62 | 9.12 | 0.16 |
| Reserves and surplus | 5.46 | 3.95 | 0.11 |
12 months vs 12 months: revenue +8575.1%, profit after tax +3143.1%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
The company makes rubber parts and components, mainly rubber hoses and assemblies, along with rubber profiles, beadings and moulded parts. Its products serve automotive, railway and defence users, and it offers design and customisation support. It runs two manufacturing plants in Faridabad, Haryana.
- Incorporated
- 2023
- Industry
- Rubber Products Manufacturing
- CIN
- U30204HR2023PLC115548
- Website
- defrailtech.in
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue |
|---|---|---|---|
| Ms. Ashi Aggarwal | Promoter | 72.85% | 53.55% |
| Mr. Dinesh Aggarwal | Promoter | 24.24% | 17.82% |
| Mr. Abhishek Aggarwal | Promoter | 0.96% | 0.71% |
| Mr. Vivek Aggarwal | Promoter | 0.96% | 0.71% |
| Mr. Himanshu Aggarwal | Promoter group | 0.96% | 0.71% |
| Ms. Priyanka Aggarwal | Promoter group | 0.01% | 0.01% |
| Ms. Nisha Aggarwal | Promoter group | 0.01% | 0.01% |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Purchase of machinery and equipment for capacity expansion | 7.96 |
| Purchase and installation of solar panels at manufacturing plant | 1.73 |
| General corporate purposes | 1.74 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Defrail Technologies LimitedIssuer | ₹2.96 | — | 11.76% | ₹20.36 |
| Pentagon Rubber Limited | ₹0.82 | 89.04× | 1.95% | ₹4.22 |
| Gujrat Reclaim & Rubber Product Limited | ₹6.36 | 275.94× | 1.73% | ₹36.14 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Operates two manufacturing plants in Faridabad with significant installed capacity.
- Products are used across automotive, railway and defence industries.
- Offers design and customisation support to clients alongside manufacturing.
- Revenue and profit rose sharply in FY 2024-25 compared with the prior period.
- Promoters have long experience in rubber hose, profile and moulding manufacturing.
Risks
- Rubber Hose and Assemblies makes up about 92% to 96% of revenue, creating product concentration.
- A Chartered Engineer certificate contained incorrect capacity utilisation figures and was later revised.
- Capacity utilisation at both plants is low, which may affect returns on planned investment.
- There has been no prior public market for the shares, so post-listing price and liquidity are uncertain.
- Promoters will hold a large majority of shares after the issue, limiting other shareholders' influence.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹74) appear here after the shares list on BSE SME.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Defrail Technologies IPO open and close?
According to the Prospectus, the issue opens on Friday, 9 January 2026 and closes on Tuesday, 13 January 2026.
What is the Defrail Technologies IPO price band?
The final issue price is ₹74 per share.
What is the lot size of the Defrail Technologies IPO?
One lot is 1,600 shares, which is ₹1.18 L at ₹74 per share.
Where will Defrail Technologies shares list?
On BSE SME. The tentative listing date is Monday, 19 January 2026.
Who is the registrar of the issue?
Maashitla Securities Private Limited (SEBI registration INR000004370). Allotment status is checked on the registrar's website.
How do I check the Defrail Technologies IPO allotment status?
The basis of allotment is expected to be finalised on Friday, 16 January 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (Maashitla Securities Private Limited) or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹7.96 Cr for purchase of machinery and equipment for capacity expansion, ₹1.73 Cr for purchase and installation of solar panels at manufacturing plant, ₹1.74 Cr for general corporate purposes.
Related IPOs
Also managed by NEXGEN Financial Solutions
- Manilam Industries India₹69Listed · 20 Feb – 24 Feb 2026
- Marushika Technology₹117Listed · 12 Feb – 16 Feb 2026
Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.