Brandman Retail IPO 2026: GMP Surges, Price Band & Dates Revealed

The Brandman Retail Ltd SME IPO has kicked off in the grey market with encouraging premium trends, while the company prepares for its subscription window and eventual listing on the NSE Emerge platform.

Grey Market Premium (GMP) Update

• The Brandman Retail IPO GMP has recently risen to ₹24, indicating an approximate listing gain of ~13.64% compared to the issue price based on current unregulated market activity. 
• Earlier during the week, GMP was ₹0, showing initial neutral sentiment before rising. 

IPO Price Band & Size

• The price band for the IPO is fixed at ₹167 to ₹176 per share. 
• Each share carries a face value of ₹10. 
• The issue will raise approximately ₹86.09 crore, entirely through a fresh issue of equity shares. 

Offering & Allocation Structure

• It is an SME IPO to be listed on the NSE SME (Emerge) platform. 
• Investor category quotas include: 
  • Qualified Institutional Buyers (QIBs): up to 50% of net issue 
  • Non-Institutional Investors (NIIs): up to 15% 
  • Retail Individual Investors: up to 35% 

Important Dates

• IPO Open: 4 February 2026 
• IPO Close: 6 February 2026 
• Basis of Allotment: 9 February 2026 
• Refunds: 10 February 2026 
• Credit to Demat Accounts: 10 February 2026 
• Listing Date: 11 February 2026 on the NSE SME platform 

Minimum Investment & Lots

• Minimum lot size is 1,600 shares, translating to a retail application of about ₹2,81,600 at the upper end of the price band. 

Business Snapshot
Brandman Retail, founded in 2021, operates as a retail and distribution platform for premium international sports and lifestyle brands. Its business spans distribution, licensing, retail outlets and e-commerce, offering footwear, apparel, accessories and related equipment.

Anchor Funding
Ahead of the public offer, the company secured ₹24.49 crore from anchor investors via allotment of 13.92 lakh equity shares at ₹176 each.

Use of Proceeds
Proceeds from the IPO are intended for:

• Capital expenditure to expand the retail network through Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs) 
• Working capital for both new and existing outlets 
• General corporate expenses 

Investor Takeaway
The rising GMP suggests positive early sentiment toward the Brandman Retail IPO, although grey market premiums are unofficial and may not always translate to actual listing prices. Investors should also consider the company’s fundamentals and SME-specific risks before applying.