Narmadesh Brass Industries IPO GMP today is Rs -20. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
NARMADESHBRASS
Narmadesh Brass Industries IPO GMP, Subscription & Allotment Status Today
Narmadesh Brass Industries is a SME IPO with a price band of Rs 515.00 to Rs 515.00 that listed on 21 Jan 2026 at a listing gain of -3.88%. Track its full GMP history, subscription data and listing details here.
- Price Band
- ₹515.00 - ₹515.00
- Lot Size
- 240 Shares
- Bidding Closes
- 16 Jan 2026
- Listing Date
- 21 Jan 2026
Current GMP Status
₹-20
-3.88% vs upper band
Est. Listing Gain
-3.88%
Last Trend
14 Jan 2026
Listing Price
₹495.00
Retail Entry
₹2,47,200
IPO Details
Complete IPO information
| Current GMP | ₹-20 |
|---|---|
| Estimated Listing Gain | -3.88% |
| Price Band | ₹515.00 - ₹515.00 |
| Issue Price | Approx ₹515.00 Crores |
| Listing Price | ₹495.00 |
| Lot Size | 240 Shares |
| Issue Type | SME |
| Registrar | TBA |
| Exchange | NSE, BSE |
| Retail Quota | TBA |
| Overall Subscription | TBA |
| Listing Date | 21 Jan 2026 |
| Minimum Investment | ₹2,47,200 |
Head-to-head
Compare Narmadesh Brass Industries IPO with similar IPOs
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Narmadesh Brass Industries is priced at ₹515 per share. With a minimum lot size of 240 shares, a retail investor applying for one lot would need approximately ₹2,47,200 to participate in this SME issue.
The latest recorded Grey Market Premium for Narmadesh Brass Industries stands at ₹-20, implying an estimated listing gain of around -3.88% over the issue price if it holds until listing. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
12 Jan 2026
✓
Bidding Closes
16 Jan 2026
✓
Allotment
19 Jan 2026
✓
Listing
21 Jan 2026
Grey Market Premium
Daily GMP status
Trend chart builds up as more daily GMP snapshots are recorded.
| Date | GMP | Change | Gain |
|---|---|---|---|
| 14 Jan 2026 | ₹0.00 | - | 0.00% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 480 | ₹2,47,200 |
| Retail Maximum | 2 Lot | 480 | ₹2,47,200 |
| S-HNI Minimum | 3 Lot | 720 | ₹3,70,800 |
| S-HNI Maximum | 8 Lot | 1,920 | ₹9,88,800 |
| B-HNI Minimum | 9 Lot | 2,160 | ₹11,12,400 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Analysis
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 |
Analysis
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 | – | – | – |
Analysis
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% |
Analysis
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 |
Analysis
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% |
Analysis
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 | – |
Analysis
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.
Analysis
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 |
Analysis
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 |
Analysis
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. |
FAQ
Narmadesh Brass Industries IPO FAQs
Narmadesh Brass Industries IPO price band is Rs 515.00 to Rs 515.00. Check the latest issue price, lot size and GMP together before applying.
Narmadesh Brass Industries IPO open date is 12 Jan 2026, close date is 16 Jan 2026, and listing date is 21 Jan 2026.
Narmadesh Brass Industries IPO lot size is 240 shares. The minimum retail investment is Rs 2,47,200.
Narmadesh Brass Industries is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Narmadesh Brass Industries IPO subscription status currently shows Subscription data is currently awaited.
Narmadesh Brass Industries IPO issue size is TBA and the expected allotment date is 19 Jan 2026.
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