Narmadesh Brass Industries Limited is entering the public markets through SME IPO with an issue size of ₹44.87 crore. The issue consists of a fresh issue of equity shares. The shares are proposed to be listed on BSE & SME.
The IPO subscription window opens on January 12, 2026 and will remain open until January 16, 2026. The company plans to list its shares on January 21, 2026. Being an SME IPO, the issue may appeal to investors familiar with lower liquidity listings.
Narmadesh Brass Industries Limited IPO Timeline
IPO Quick Facts
This section covers the main IPO details of Narmadesh Brass Industries Limited that investors generally review before applying.
IPO Details at a Glance
| Company Name | Narmadesh Brass Industries Limited |
|---|---|
| IPO Segment | SME |
| Sale Type | Fresh Issue |
| Issue Type | Fixed Price IPO |
| Price | ₹515 Per Share |
| Lot Size | 240 Shares |
| Face Value | ₹10 Per Share |
| Exchange | BSE & SME |
Investor Category & Share Allocation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Market Maker | 45,600 | 5.23% |
| NII (HNI) | 412,800 | 47.38% |
| Retail | 412,800 | 47.38% |
| Total Shares Offered | 871,200 | 100.00% |
Narmadesh Brass Industries Limited IPO Important Dates
The following table highlights the key dates for the Narmadesh Brass Industries Limited IPO, covering the subscription period and the expected listing timeline.
| IPO Opening Date | 12 Jan 2026 |
|---|---|
| IPO Closing Date | 16 Jan 2026 |
| Allotment Finalization | 19 Jan 2026 |
| Initiation of Refunds | 20 Jan 2026 |
| Credit of Shares | 20 Jan 2026 |
| IPO Listing Date | 21 Jan 2026 |
Narmadesh Brass Industries Limited IPO Size & Structure
| Total IPO Size | ₹44.87 Crore |
|---|---|
| Offer For Sale | ₹8.78 Crore |
| Fresh Issue | ₹36.09 Crore |
Narmadesh Brass Industries IPO Lot Size & Minimum Investment
The table below shows the lot size and investment amount for the Narmadesh Brass Industries IPO, which is a fixed price IPO priced at ₹515 per share.
Investors can apply for the IPO with a minimum of 240 shares. Applications must be made in multiples of 240 shares.
- Retail investors can apply from 2 lot to 2 lots.
This information helps investors understand the minimum investment required before applying for the IPO.
Note: Retail investors generally apply at the cut-off price, which is ₹515 per share.
| Category | Lots | Shares | Price | Amount |
|---|---|---|---|---|
| Retail (Min) | 2 | 480 | ₹515 | ₹247,200 |
| Retail (Max) | 2 | 480 | ₹515 | ₹247,200 |
| HNI (Min) | 3 | 720 | ₹515 | ₹370,800 |
Narmadesh Brass Industries Limited IPO GMP (Grey Market Premium)
The latest Narmadesh Brass Industries Limited IPO GMP (Grey Market Premium), along with Kostak rates and Subject to Sauda rates, helps in understanding market sentiment. The current Narmadesh Brass Industries Limited IPO GMP is ₹0 (0.00%), compared to the IPO issue price of ₹515. Based on the current GMP, the expected listing price is around ₹515. The Lowest GMP was ₹0 on 21 Jan 2026, while the highest GMP reached ₹0 on 21 Jan 2026.
Narmadesh Brass Industries Limited IPO was listed on the stock exchange on 21 Jan 2026. The IPO was subscribed 1.23 times. The first reported GMP was ₹0 (0%), while the latest recorded GMP stood at ₹0 (0%).Listing Details:
- Issue Price: ₹515 per share.
- Listing Price: ₹495.00 (approx. 3.88% discount)
- Listing Date: 21 Jan 2026
Narmadesh Brass Industries Limited IPO GMP Today - Trend Analysis
| Date | Issue Price (₹) | GMP Price (₹) | Estimated Gain (%) | Estimated Price (₹) | Estimated Profit (₹) |
|---|---|---|---|---|---|
| 21 Jan 2026 | ₹515 | ₹0 | 0% | ₹515 | ₹0 |
| 20 Jan 2026 | ₹515 | ₹0 | 0% | ₹515 | ₹0 |
| 19 Jan 2026 | ₹515 | ₹0 | 0% | ₹515 | ₹0 |
| 17 Jan 2026 | ₹515 | ₹0 | 0% | ₹515 | ₹0 |
| 16 Jan 2026 | ₹515 | ₹0 | 0% | ₹515 | ₹0 |
| 13 Jan 2026 | ₹515 | ₹0 | 0% | ₹515 | ₹0 |
| 12 Jan 2026 | ₹515 | ₹0 | 0% | ₹515 | ₹0 |
| 10 Jan 2026 | ₹515 | ₹0 | 0% | ₹515 | ₹0 |
| 09 Jan 2026 | ₹515 | ₹0 | 0% | ₹515 | ₹0 |
| 08 Jan 2026 | ₹515 | ₹0 | 0% | ₹515 | ₹0 |
| 07 Jan 2026 | ₹515 | ₹0 | 0% | ₹515 | ₹0 |
Narmadesh Brass Industries Limited IPO GMP gives retail and institutional investors an idea about short-term market expectations. Although grey market premium does not guarantee listing performance, it is still commonly referred to while analysing IPOs. Investors are advised to look at Narmadesh Brass Industries Limited fundamentals along with IPO GMP data before making any investment decision.
GMP Disclaimer: GMP (Grey Market Premium) prices are unofficial and only reflect market sentiment. We neither participate in grey-market trading nor encourage it. Investors are strongly advised to review the company’s fundamentals, risks, and official documents before considering an investment in the Narmadesh Brass Industries Limited IPO.
Narmadesh Brass Industries Limited IPO Subscription Status
Narmadesh Brass Industries Limited IPO was subscribed 1.23 times overall on the final day of bidding (as of 16 Jan 2026).The subscription opened on 12 Jan 2026.
Subscription by Category (QIB, NII, Retail, Employee)
Daily Subscription Trend (Day-wise):
| Date | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| 12 Jan 2026 | — | — | — | — | 1.01x |
| 13 Jan 2026 | — | — | — | — | 1.07x |
| 14 Jan 2026 | — | — | — | — | 1.13x |
| 16 Jan 2026 | — | — | — | — | 1.23x |
The Narmadesh Brass Industries Limited IPO opened with a steady response on Day-1, supported mainly by early interest from QIB investors.
On Day-2, the Narmadesh Brass Industries Limited IPO witnessed better demand, led by increased participation from QIB, followed by NII investors.
By the end of the bidding period, the IPO was subscribed 1.23x overall, reflecting strong demand from key investor categories, led by investors. Overall subscription for the Narmadesh Brass Industries Limited IPO increased from 1.01x on Day-1 to 1.23x by the final day.
Narmadesh Brass Industries Limited IPO Final Subscription
| Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | — |
| Non-Institutional Investors (NII) | — |
| Retail Investors | — |
| Total | 1.24x |
Narmadesh Brass Industries Limited IPO Allotment Status
The Narmadesh Brass Industries Limited IPO allotment status was released on 19 Jan 2026. Investors who applied for the IPO can now check their Narmadesh Brass Industries Limited allotment status online through the official registrar website and NSE / BSE portal.
- 🗓 Allotment Date: 19 Jan 2026
- 📈 Listing Date: 21 Jan 2026
How to Check Narmadesh Brass Industries Limited IPO Allotment Status Online?
Investors can check the Narmadesh Brass Industries Limited IPO allotment status online through KFin Technologies Limited and BSE websites. All platforms provide easy access to the IPO allotment details.
Just follow the below mentioned steps to check your allotment status.You can also visit
KFin Technologies
to know more about the IPO registrar.
Check on KFin Technologies Limited (IPO Registrar)
- Visit → KFin Technologies Limited
- Select Narmadesh Brass Industries Limited
- Enter Application No / Demat Account / PAN details
- Click Submit to view allotment status
Check on BSE (Bombay Stock Exchange) Website
- Visit → BSE Website.
- Select Issue Type: Equity.
- Choose Narmadesh Brass Industries Limited IPO.
- Enter your PAN or Application Number.
- Click on Search button.
The Bombay Stock Exchange (BSE) also allows investors to check the Narmadesh Brass Industries Limited IPO allotment status online.
Note: Allotment status is published only on the official registrar websites. We do not collect investor data or provide allotment verification directly.
How to Apply for Narmadesh Brass Industries Limited IPO?
Login to Your Trading App
Open your trading app such as Angel One, Zerodha, Upstox, Groww or any brokerage app.
Go to the IPO Section
Navigate to the IPO section in the app, search for the IPO, and enter your bid details.
Enter Your UPI ID
Provide your UPI ID that is linked to your bank account for payment authentication.
Approve the Mandate
Open your UPI app and approve the payment mandate to block the required amount.
Application Confirmation
Application submitted successfully, the funds will remain blocked until allotment is finalized.
Narmadesh Brass Industries Limited IPO Listing Analysis
Below is a quick summary of the Narmadesh Brass Industries Limited IPO issue price, listing price, and listing gain on BSE and NSE.
| IPO Status | Issue Price | Listing Price | Listing Gain |
|---|---|---|---|
| Listed (BSE) | ₹515 | ₹495 | ▼ -3.88% |
| Listed (NSE) | ₹515 | ₹495 | ▼ -3.88% |
Narmadesh Brass Industries Limited made a weak debut on the stock market on 21 Jan 2026, listing at ₹495, which was -₹20 lower (-3.88%) than its IPO issue price of ₹515. This indicated a negative listing sentiment, and IPO investors faced an immediate notional loss on debut.
Selling pressure continued throughout the session, and the stock slipped further by -100.00% from the listing price, closing at ₹0. From the IPO issue price, this translated into a total decline of -₹515 per share (-100.00%) by the end of the day.
For investors who were allotted one lot of 240 shares, the investment of ₹123,600 reduced to ₹0. Investors booked an overall loss of -₹123,600 per lot on the listing day.
📌 IPO Issue Price and Lot Size
The IPO of Narmadesh Brass Industries Limited was offered in the price band of ₹515 to ₹515 per share.
- The final issue price was fixed at ₹515.
- One lot consisted of 240 shares.
- Minimum investment: ₹515 × 240 = ₹123,600
- Investment after Day-1: ₹0 × 240 = ₹0
- By the end of the listing session, investors faced a loss of -₹123,600 per lot.
📌 IPO Subscription Analysis
| Day | QIB | NNI | Retail | Total |
|---|---|---|---|---|
| Day 1 | 0x | 0x | 0x | 1.01x |
| Day 2 | 0x | 0x | 0x | 1.07x |
| Day 3 | 0x | 0x | 0x | 1.13x |
📌 Final Assessment
Overall Outcome: Average IPO
- Subscription Phase: Weak investor participation
- Listing Phase: Neutral listing performance
- Investor Experience: Negative short-term experience
IPO Financial Summary
- Total Assets changed by 27.81% in FY 2024-2025.
- Total Revenue changed by 11.37% in FY 2024-2025.
- Profit After Tax changed by -19.44% in FY 2024-2025.
- Reserves & Surplus changed by 82.07% in FY 2024-2025.
- Total Borrowings changed by 10.25% in FY 2024-2025.
| Metric | 2025-09-30 | 2025-03-31 | 2024-03-31 | 2023-03-31 |
|---|---|---|---|---|
| Total Assets (₹ Cr) | 63.10 | 59.66 | 46.68 | 22.00 |
| Total Revenue (₹ Cr) | 34.21 | 88.05 | 79.06 | 60.09 |
| Profit After Tax (₹ Cr) | 4.01 | 5.72 | 7.10 | 0.89 |
| Reserves & Surplus (₹ Cr) | 23.30 | 12.69 | 6.97 | 0.00 |
| Total Borrowings (₹ Cr) | 19.21 | 24.73 | 22.43 | 5.94 |
Utilisation of Proceeds
The Company proposes to utilise the net IPO proceeds of approximately ₹32.59 crore towards the following objectives:
| # | Purpose | Amount (₹ Cr) | % of Total |
|---|---|---|---|
| 1 | Repayment/ prepayment, in full or in part, of certain outstanding borrowings | 14.50 | 44.49% |
| 2 | Purchase of machinery and equipment | 3.29 | 10.10% |
| 3 | Funding Working capital requirements | 10.20 | 31.30% |
| 4 | General Corporate Purpose | 4.60 | 14.11% |
| Total | 32.59 | 100% | |
Narmadesh Brass Industries IPO Promoter Holding
| Promoter(s) | M/s. Sprayking Limited, Mr. Hitesh Dudhagara and Mrs. Ronak Dudhagara |
|---|---|
| Pre-Issue Holding | 99.92% |
| Post-Issue Holding | 71.84% |
Narmadesh Brass Industries Limited IPO FAQs
The Narmadesh Brass Industries Limited IPO is a SME Fixed Price IPO with a total issue size of ₹44.87 crore. The issue consists of a fresh issue of ₹36.09 crore and an offer for sale of ₹8.78 crore.
The IPO will open for subscription on Mon, 12 Jan 2026 and will close on Fri, 16 Jan 2026.
The shares are being offered at a fixed issue price of ₹515 per equity share.
Investors can apply for the IPO with a minimum lot size of 240 shares.
At the upper price band, the minimum investment required for one lot is approximately ₹247,200.
The shares of Narmadesh Brass Industries Limited are expected to be listed on BSE & SME on Wed, 21 Jan 2026.
The Grey Market Premium (GMP) of Narmadesh Brass Industries Limited IPO is ₹0.
The Narmadesh Brass Industries Limited IPO was subscribed 1.24 times on the final day of subscription.
The IPO registrar of Narmadesh Brass Industries Limited is KFin Technologies Limited. KFin is responsible for processing IPO applications, finalizing allotment, crediting shares, and initiating refunds.
The allotment date is expected on Mon, 19 Jan 2026.
Allotment status is generally updated in the evening (6 PM – 10 PM) on Mon, 19 Jan 2026 on the registrar or exchange website.
Shares are expected to be credited by Tue, 20 Jan 2026.
Refunds for unsuccessful applicants will be initiated on Tue, 20 Jan 2026.
Investors can check refund status via:
- UPI mandate / bank account (NACH, NEFT, RTGS)
- ASBA bank portal
Narmadesh Brass Industries Limited IPO is listed on BSE.
The current share price of Narmadesh Brass Industries Limited is ₹182.05. The stock opened at ₹193.00, hit a high of ₹193.00 and a low of ₹181.45.
Narmadesh Brass Industries Limited share price has decreased by ₹8.95 (4.69%) compared to the previous close. The stock has declined 63.22% from its listing price of ₹495.00 on BSE and declined 63.22% from its listing price of ₹495.00 on NSE.
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