Narmadesh Brass Industries Limited Link 
Allotment
Narmadesh Brass Industries IPO is a fixed-price issue aggregating to ₹44.87 crores. The issue comprises a fresh issue of 0.07 crore shares amounting to ₹36.09 crores and an offer for sale of 0.02 crore shares worth ₹8.78 crores.
The IPO will open for subscription on January 12, 2026, and close on January 15, 2026. The allotment is expected to be finalized on January 16, 2026, with the shares tentatively scheduled to list on the BSE SME platform on January 20, 2026.
The IPO is priced at ₹515 per share, with a lot size of 240 shares. Retail investors are required to apply for a minimum of 480 shares, translating to a minimum investment of ₹2,47,200 (at the issue price). For HNI investors, the minimum application size is 3 lots, or 720 shares, amounting to ₹3,70,800.
Aryaman Financial Services Ltd. is the book-running lead manager to the issue, while KFin Technologies Ltd. serves as the registrar. JSK Securities & Services Pvt. Ltd. is the market maker for the IPO.
₹515
0%
Open
₹515
HIgh - Low
₹515
Previous Close
₹515
Total Traded Value
0
52 Weeks High
₹515
52 Weeks Low
₹515
Updates On
Jan 5, 2026
IPO. Open
Jan 12, 2026
IPO. Close
Jan 15, 2026
IPO. Price
₹515.00
IPO Market price
₹159.69 Cr
IPO Details
| IPO Date | 20 Jan |
| IPO Listing Date | 20 Jan |
| IPO Face Value | ₹10.00 per share |
| IPO Price Range | ₹515.00 |
| IPO Issue Size | 8,71,200 shares |
| IPO Sale Type | Fresh Capital & OFS |
| Employee Discount | - |
| IPO Issue Type | Fixed Price IPO |
| IPO Listing | BSE SME Platform |
| Share Holding Pre Issue | 24,00,000 shares |
IPO Timeline
| IPO Open Date | 12 Jan |
| IPO Close Date | 15 Jan |
| IPO Allotment (Tentative) | 16 Jan |
| Refunds | 19 Jan |
| Credit to Demat Account | 19 Jan |
| IPO Listing Date | 20 Jan |
IPO Reservation
| Category | Offer |
|---|---|
| QIB Shares Offered | - |
| NII (HNI) Shares Offered | 4,12,800 |
| Retail Shares Offered | 4,12,800 |
IPO Lot Size
Investors may place bids for at least 480 shares, and thereafter in increments of 240 shares.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 480 | ₹2,47,200 |
| Retail (Max) | 2 | 480 | ₹2,47,200 |
| S-HNI (Min) | 3 | 720 | ₹3,70,800 |
| S-HNI (Max) | - | - | - |
| B-HNI (Min) | - | - | - |
Narmadesh Brass Industries Ltd. is a modern brass manufacturing company headquartered in Jamnagar, Gujarat, widely known as India’s “Brass City” due to its high concentration of brass producers.
The company operates a 6,293 m² manufacturing facility located at Plot Nos. 5, 8 & 9 in the Shree Ganesh Industrial Hub, Jamnagar. Narmadesh specializes in producing a broad range of brass products catering to both domestic and international markets, including:
Brass Billets & Rods
Brass Valves (including ball valves and NRVs)
Plumbing and Sanitary Fittings (including lead-free options)
Agricultural Sprayer Parts & Garden Fittings
Customized Components via casting, forging, turning, CNC, and VMC machining
All manufacturing processes, from casting and forging to machining and finishing, are carried out in-house, ensuring stringent quality control. The company holds ISO 9001:2015 certification for its Quality Management System, reflecting adherence to international quality standards. As of September 30, 2025, Narmadesh employed 81 contract labourers to support its operations.
Competitive Strengths
Strategic Location: ISO-certified facility in Jamnagar provides supply chain efficiency and access to raw material clusters.
Full Process Control: In-house capabilities from raw material to finished product enable superior quality assurance and responsiveness to client needs.
Experienced Leadership: Led by Hitesh Pragajibhai Dudhagara and a seasoned management team, with continuity from its prior partnership structure.
Company Financials (Consolidated)
| Assets | 63.1 | 59.66 | 46.68 |
| Total Income | 34.21 | 88.05 | 79.06 |
| Profit After Tax | 4.01 | 5.72 | 7.1 |
| EBITDA | 6.24 | 9.34 | 11.41 |
| NET Worth | 22.46 | 11.45 | 5.73 |
| Reserves and Surplus | 23.3 | 12.69 | 6.97 |
| Total Borrowing | 19.21 | 24.73 | 22.43 |
Key Performance Indicator (KPI)
| ROE | 49.99% |
| ROCE | 23.29% |
| Debt/Equity | - |
| RoNW | 49.99% |
| PAT Margin | 6.52% |
| EBITDA Margin | 10.64% |
| Price to Book Value | - |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | 3.29 |
| 2 | To meet out the expenses of Working Capital Requirement | 10.2 |
| 3 | To meet out the General Corporate Purposes; | 4.6 |
| 4 | Offer for Sale (OFS) | - |
Contact Details
INDO SMC Ltd Address
809,
Shilp Zaveri Shyamal Cross Road,
Vejalpur, Shyamal,
Ahmedabad, Gujarat, 380006
+91 7575812866
cs@indosmc.com
Detail Registrar
IPO Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
austere.ipo@kfintech.com
https://ipostatus.kfintech.com/
The Narmadesh Brass Industries IPO opens on January 12, 2026, and closes on January 15, 2026, with allotment expected on January 16 and listing on BSE SME on January 20.
The IPO is fixed at ₹515 per share with a lot size of 240 shares. Retail investors must apply for at least 480 shares, totaling ₹2,47,200 minimum investment.
Funds will be used for repayment of borrowings, purchase of machinery, working capital requirements, and general corporate purposes to strengthen operations and support business expansion.
Aryaman Financial Services Ltd. is the book-running lead manager, KFin Technologies Ltd. is the registrar, and JSK Securities & Services Pvt. Ltd. acts as the market maker.
The company produces brass billets, rods, valves, plumbing and sanitary fittings, agricultural sprayer parts, and customized components, with all processes carried out in-house at its ISO-certified facility in Jamnagar.
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