Brandman Retail IPO Subscribed 9.78× on Day 3; Strong Retail & NII Demand

The Brandman Retail Ltd SME IPO saw exceptionally high investor interest on its third and final day of subscription (6 February 2026), with demand driven strongly by retail and non-institutional categories. ([turn0news0])

📊 Subscription Status (Day 3)
• Overall subscription reached ~9.78 times, with bids for 3,18,44,000 shares against 32,54,400 shares on offer. ([turn0news0])
• Retail investors led interest at ~10.71×. ([turn0news0])
• Non-Institutional Investors (NIIs) showed robust demand at ~20.62×. ([turn0news0])
• Qualified Institutional Buyers (QIBs) remained subdued at about ~1% subscription. ([turn0news0])

💰 Grey Market Premium (GMP)
• The **grey market premium stood at about ₹28 per share, suggesting an *estimated listing price near ₹204, roughly 15.9% above the IPO’s upper price band of ₹176. ([turn0news0])

📅 IPO Timeline & Key Details
• IPO Opened: 4 February 2026. ([turn0news0])
• IPO Closed: 6 February 2026. ([turn0news0])
• Price Band: ₹167 to ₹176 per share. ([turn0news0])
• Lot Size: Minimum 800 shares per lot. ([turn0news0])
• Face Value: ₹10 per share. ([turn0news0])
• Issue Size: ~48.91 lakh equity shares (fresh issue ~₹86.09 crore). ([turn0search7])
• Allotment Date: 9 February 2026 (expected). ([turn0news0])
• Credit to Demat: 10 February 2026 (expected). ([turn0news0])
• Listing Date: 11 February 2026 on NSE SME (Emerge) (expected). ([turn0news0])

📈 Subscription Trends
The IPO saw accelerating subscription momentum across the three days:

• Day 1: ~0.73× overall. ([turn0search9])
• Day 2: ~4.89× overall. ([turn0search9])
• Day 3: ~9.78× overall. ([turn0search9])

🏬 Business Snapshot
Brandman Retail, established in 2021, distributes and retails international sports and lifestyle brands. It operates multiple Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs) in major markets and sells products through platforms like Flipkart, Ajio and Tata Cliq. ([turn0news0])

💡 Use of IPO Funds
The company plans to use IPO proceeds to:

• Expand its retail footprint by opening ~15 new EBOs/MBOs,
• Support working capital needs, and
• Cover general corporate expenses. ([turn0search7])

📌 What This Means for Investors
The near-10× subscription reflects strong demand among investors, especially retail and NIIs, for the Brandman Retail SME IPO. Meanwhile, the robust GMP suggests optimism about potential listing gains. However, grey market premiums are unofficial indicators and do not guarantee actual listing outcomes.