Defrail Technologies IPO Subscription Reaches 2.08x on Final Day of Bidding

Defrail Technologies, a specialized manufacturer of rubber and engineered polymer-based components for the automotive, railway, and defense sectors, is set to conclude its Initial Public Offering today. As of midday on Monday, January 12, 2026, the total subscription stands at approximately 2.08x.

The retail portion has seen the highest interest, subscribed over 3.17x, while Non-Institutional Investors (NII) followed at 2.21x. The company aims to raise approximately ₹13.77 crore through a fresh issue of 18.6 lakh shares. The funds are earmarked for capital expenditure, specifically for purchasing machinery and installing solar panels at its Faridabad facilities to enhance production capacity.

Investors are keeping a close watch on the Grey Market Premium (GMP), which is currently hovering around ₹6, suggesting a modest listing gain of roughly 8% over the upper price band.

IPO Vital Details & Key Dates

Important Note for Investors

• Industry Credibility: The company is an RDSO-approved vendor, which is a significant advantage as it allows them to supply critical components directly to the Indian Railways.

• Financial Growth: Defrail has shown a sharp jump in revenue, growing from ₹0.72 crore in FY24 to ₹62.21 crore in FY25, following the consolidation of its legacy businesses (Vikas Rubber and Impex Hitech).

• Risk Factor: Despite high growth, the company has reported negative operating cash flows in the past and has a high dependency on the performance of the Indian automobile sector.

• Final Call: Since today is the last day, the UPI mandate window usually remains open until 5:00 PM. Ensure your bank approval is completed before the deadline.