Narmadesh Brass Industries
Table of Contents
- 01 IPO Description
- 02 IPO Parameters
- 03 IPO Roadmap
- 04 GMP History
- 05 Narmadesh Brass IPO Details
- 06 Narmadesh Brass IPO Market Lot
- 07 IPO Reservation
- 08 Narmadesh Brass IPO Dates
- 09 Promoters and Holding Pattern
- 10 Objects of the Issue & Utilisation of Proceeds
- 11 About Narmadesh Brass IPO
- 12 Narmadesh Brass IPO Company Financial Report
- 13 Narmadesh Brass IPO Valuation – FY2025
- 14 Peer Group Comparison
IPO PARAMETERS
IPO ROADMAP
Grey Market Premium HISTORY
| Date | GMP (₹) | Daily Change | Gain (%) |
|---|---|---|---|
| 14 Jan 2026 | ₹0.00 | - | 0.00% |
Narmadesh Brass IPO DETAILS
| IPO Open Date | January 12, 2026 |
| IPO Close Date | January 15, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price | ₹515 Per Share |
| Issue Size | Approx ₹45 Crores |
| Fresh Issue | Approx ₹36 Crores |
| Offer for Sale | Approx 1,70,400 Equity Shares |
| Issue Type | Fixed Price Issue |
| IPO Listing | BSE SME |
Narmadesh Brass IPO Market LOT
| Application | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 2 | 480 | 2,47,200 |
| Retail Maximum | 2 | 480 | 2,47,200 |
| S-HNI Minimum | 3 | 720 | 3,70,800 |
| S-HNI Maximum | – | – | – |
| B-HNI Minimum | – | – | – |
IPO RESERVATION
| Investor Category | Shares Offered | Percentage (%) |
|---|---|---|
| Anchor Investor | – | – |
| QIB (Ex. Anchor) | – | – |
| NII | 4,12,800 Shares | 47.38% |
| Retail | 4,12,800 Shares | 47.38% |
Narmadesh Brass IPO DATES
| IPO Open Date | January 12, 2026 |
| IPO Close Date | January 15, 2026 |
| Basis of Allotment | January 16, 2026 |
| Refunds | January 19, 2026 |
| Credit to Demat Account | January 19, 2026 |
| IPO Listing Date | January 20, 2026 |
| IPO Bidding Cut-off Time | January 15, 2026 – 5 PM |
Promoters and Holding PATTERN
The promoters of the company are M/s. Sprayking Limited, Mr. Hitesh Dudhagara and Mrs. Ronak Dudhagara.
| Particulars | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 24,00,000 | 99.92% |
| Promoter Holding Post Issue | 31,00,800 | 71.84% |
Objects of the Issue & Utilisation of PROCEEDS
| Purpose | Amount (₹ Cr) |
|---|---|
| Repayment / prepayment, in full or in part, of certain outstanding borrowings | 14.50 |
| Purchase of machinery and equipment | 3.29 |
| Funding working capital requirements | 10.20 |
| General Corporate Purpose | – |
About Narmadesh Brass IPO
Narmadesh Brass Industries Limited has been involved in the manufacturing of a wide range of brass products. The company runs its operations through its manufacturing located in plot no. 5, 8 & 9 at Jamnagar, Gujarat, spanning 6,293.03 sq.mtr. Its manufacturing facilities are capable of producing up to 4,320 metric tonnes (MT) of brass billets per year, 4,320 MT of brass rods per year, and 1,600 MT of brass components per year.
It’s product portfolio consists of brass rods, brass billets, agricultural sprayer parts, garden fittings, ball valves, non-return valves (NRVs), turning components and plumbing fittings, sanitary fittings, and brass compression fittings serving both domestic and global markets. Moreover, the company consists of 81 laborers as of September 2025.
Narmadesh Brass IPO Company Financial REPORT
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | PAT (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2023 | 60.09 | 58.92 | 0.89 | 22.00 |
| 2024 | 79.06 | 69.38 | 7.10 | 46.68 |
| 2025 | 88.05 | 80.92 | 5.72 | 59.66 |
| September 2025 | 34.21 | 29.37 | 4.01 | 63.10 |
Narmadesh Brass IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE | 49.99% |
| ROCE | 23.29% |
| EBITDA Margin | 10.64% |
| PAT Margin | 6.52% |
| Debt to Equity Ratio | 1.68 |
| Earning Per Share (EPS) | ₹26.23 (Basic) |
| Price / Earnings (P/E) Ratio | 19.63 |
| Return on Net Worth (RoNW) | 49.99% |
| Net Asset Value (NAV) | ₹57.24 |
Peer Group COMPARISON
| Company | EPS | P/E Ratio | RoNW (%) | NAV | Income |
|---|---|---|---|---|---|
| Poojawestern Metaliks Limited | 1.53 | 18.67 | 11.46% | 13.38 | ₹50.37 Cr. |
| Siyaram Recycling Industries Limited | 6.69 | 8.10 | 11.49% | 58.24 | ₹515.56 Cr. |