- Issue price
- ₹515per share
- Issue size
- ₹44.87 Cr8,71,200 shares
- Face value
- ₹10per equity share
- Lot size
- 480 sharesMin. ₹2.47 L at the upper price
- OpensMon, 2026
- ClosesThu, 2026
- AllotmentMon, 2026Refunds and Demat credit same day
- ListingTue, 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
- Fixed price, fresh issue and offer for sale
- Fresh issue
- 7,00,800 shares (₹36.09 Cr)
- Offer for sale
- 1,70,400 shares (₹8.78 Cr)
- Total issue
- 8,71,200 shares (₹44.87 Cr)
- Market maker portion
- 45,600 shares
- Face value
- ₹10
- Listing at
- BSE SME
- Promoter holding
- 99.91% → 71.82%
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail47.4%
- NII47.4%
- Market maker5.2%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 4,12,800 | 50.00% | 50% |
| Non-institutional investors (NII) | 4,12,800 | 50.00% | 50% |
| Market maker | 45,600 | — | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹515 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 480 | ₹2.47 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, pre-issue- EPS (basic)
- ₹26.23
- RoNW
- 49.99%
- NAV per share (Period ended September 30, 2025)
- ₹93.58
Source: ProspectusUpdated
Financials
Standalone, restated · ₹ crore| Period ended | 30 Sep 20256 months | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|---|
| Revenue from operations | 34.18 | 87.72 | 78.88 | 59.96 |
| Total income | 34.21 | 88.05 | 79.06 | 60.09 |
| EBITDA | 6.24 | 9.34 | 11.41 | 2.13 |
| Profit after tax | 4.01 | 5.72 | 7.10 | 0.89 |
| Net worth | 22.46 | 11.45 | 5.73 | 8.30 |
| Reserves and surplus | 23.30 | 12.69 | 6.97 | — |
| Total assets | 63.10 | 59.66 | 46.68 | 22.00 |
| Total borrowing | 19.21 | 24.73 | 22.43 | 5.94 |
FY 2024-25 vs FY 2023-24: revenue +11.2%, profit after tax −19.4%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
The company manufactures brass rods, billets, components and fittings such as valves, agricultural sprayer parts and plumbing fittings. It runs one ISO 9001:2015 certified plant in Jamnagar, Gujarat, and also offers casting and forging services. It was converted from a partnership firm into a public limited company in October 2023.
- Incorporated
- 2023
- Industry
- Metals and Brass Products
- CIN
- U24209GJ2023PLC145839
- Website
- narmadeshbrass.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| M/s. Sprayking Limited | Promoter | 66.67% | 51.60% | 0 |
| Mr. Hitesh Dudhagara | Promoter | 16.46% | 9.99% | 85,200 |
| Mrs. Ronak Dudhagara | Promoter | 16.46% | 9.99% | 85,200 |
| Mr. Krish Dudhagara | Promoter | 0.08% | 0.06% | 0 |
| Mr. Pragjibhai Dudhagara | Promoter group | 0.08% | 0.06% | 0 |
| Mrs. Parvatiben Dudhagara | Promoter group | 0.08% | 0.06% | 0 |
| Ms. Kalapana Dholariya | Promoter group | 0.08% | 0.06% | 0 |
| Mr. Vipul Savaliya | Public | 0.08% | 0.06% | 0 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Repayment or prepayment of certain borrowings | 14.50 |
| Purchase of machinery and equipment | 3.29 |
| Funding working capital requirements | 10.20 |
| General corporate purposes | 4.60 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Integrated manufacturing from brass rods to billets and finished brass products at one plant.
- ISO 9001:2015 certified facility in Jamnagar with access to raw materials and end users.
- Promoters with long experience in the brass industry.
- Diversified product range across valves, fittings, agricultural and electrical parts.
Risks
- A large share of revenue depends on a few customers and a few suppliers, with no long-term agreements.
- Revenue is concentrated in Gujarat, Delhi and Maharashtra.
- Large working capital needs tied up in receivables and inventory.
- Some machinery purchase quotes are not yet ordered and no definitive vendor agreement is signed.
- The company has no first-time public market history, so the post-listing price is uncertain.
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 (₹515) 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 Narmadesh Brass Industries IPO open and close?
According to the Prospectus, the issue opens on Monday, 12 January 2026 and closes on Thursday, 15 January 2026.
What is the Narmadesh Brass Industries IPO price band?
The final issue price is ₹515 per share.
What is the lot size of the Narmadesh Brass Industries IPO?
One lot is 480 shares, which is ₹2.47 L at ₹515 per share.
Where will Narmadesh Brass Industries shares list?
On BSE SME. The tentative listing date is Tuesday, 20 January 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the Narmadesh Brass Industries IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 19 January 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies 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?
₹14.5 Cr for repayment or prepayment of certain borrowings, ₹3.29 Cr for purchase of machinery and equipment, ₹10.2 Cr for funding working capital requirements, ₹4.6 Cr for general corporate purposes.
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Spotted something wrong?
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