Defrail Technologies Limited, incorporated in October 2023, is engaged in manufacturing rubber parts and components including hoses, assemblies, profiles, beadings and moulded rubber products.
Defrail Technologies IPO 2026 – Dates, Price Band, Lot Size, Review & Full Details
Book Building IPO | BSE SME
IPO Snapshot
9 January 2026
13 January 2026
14 January 2026
16 January 2026 (Tentative)
₹70 – ₹74 per share
1,600 shares
₹13.77 Crore
Bookbuilding IPO (Fresh Issue)
Defrail Technologies IPO Key Details
| Particular | Details |
|---|---|
| IPO Dates | 9 to 13 January 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹70 to ₹74 per share |
| Total Issue Size | 18,60,800 shares (₹13.77 Cr) |
| Market Cap (Pre-IPO) | ₹51.98 Crore |
| Listing At | BSE SME |
| Issue Type | Book Building IPO |
| Sale Type | Fresh Capital |
| Registrar | Maashitla Securities Pvt. Ltd. |
| Lead Manager | NEXGEN Financial Solutions Pvt. Ltd. |
| Market Maker | Nikunj Stock Brokers Ltd. |
IPO Timeline (Tentative)
| Event | Date |
|---|---|
| IPO Opens | Friday, 9 January 2026 |
| IPO Closes | Tuesday, 13 January 2026 |
| Allotment | Wednesday, 14 January 2026 |
| Refunds | Thursday, 15 January 2026 |
| Shares Credited | Thursday, 15 January 2026 |
| Listing | Friday, 16 January 2026 |
IPO Lot Size & Investment Details
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Minimum & Maximum) | 2 | 3,200 | 2,36,800 |
| S-HNI (Minimum) | 3 | 4,800 | 3,55,200 |
| S-HNI (Maximum) | 8 | 12,800 | 9,47,200 |
| B-HNI (Minimum) | 9 | 14,400 | 10,65,600 |
IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Market Maker | 94,400 (5.07%) |
| QIB (Total) | 8,73,600 (46.95%) |
| • Anchor Investors | 5,18,400 (27.86%) |
| • QIB (Ex-Anchor) | 3,55,200 (19.09%) |
| NII (HNI) | 2,68,800 (14.45%) |
| • bNII | 1,77,600 (9.54%) |
| • sNII | 91,200 (4.90%) |
| Retail | 6,24,000 (33.53%) |
| Total | 18,60,800 (100%) |
About Defrail Technologies Ltd.
Defrail Technologies Limited, incorporated in October 2023, is engaged in manufacturing rubber parts and components including hoses, assemblies, profiles, beadings and moulded rubber products.
The company caters to automotive, railways and defence sectors through a B2B and B2G model. Its operations originate from Vikas Rubber Industries (1980) and Impex Hitech Rubber (2008), which were consolidated into Defrail Technologies Limited on April 1, 2024.
The company operates two manufacturing facilities in Faridabad, Haryana, and is ISO 9001:2015 certified. It is also registered on the Government e-Marketplace (GeM).
As of November 30, 2025, the company has 298 permanent employees.
Competitive Strengths
- Experienced management with strong industry expertise
- RDSO-approved vendor for Indian Railways
- Diversified rubber product portfolio
- Strong customer and supplier relationships
- In-house testing and R&D facility
Financial Performance (₹ Crore)
| Particular | 30 Sep 2025 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 39.08 | 62.22 | 0.72 |
| Profit After Tax | 1.51 | 3.42 | 0.11 |
| EBITDA | 3.44 | 5.78 | 0.14 |
| Net Worth | 10.62 | 9.12 | 0.16 |
| Total Assets | 37.22 | 33.91 | 1.22 |
| Total Borrowing | 11.78 | 11.56 | 0.41 |
Objects of the Issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Purchase of equipment / machineries | 7.96 |
| Purchase and installation of Solar Panel | 1.73 |
| General Corporate Purposes | — |
Key Performance Indicators (FY25)
| ROE | 73.72% |
| ROCE | 24.43% |
| Debt / Equity | 1.27 |
| RoNW | 73.72% |
| PAT Margin | 5.49% |
| EBITDA Margin | 9.29% |
| Price to Book Value | 4.19 |
| Post-IPO P/E | 17.25x |
IPO Registrar
Maashitla Securities Pvt. Ltd.
Phone: +91-11-45121795-96
Email: investor.ipo@maashitla.com
IPO Lead Manager
- NEXGEN Financial Solutions Pvt. Ltd.
Lead Manager reports include performance summary and tracker.
Company Contact Details
Defrail Technologies Ltd.
Plot No. 180, Sector 24, Sector 22,
Faridabad, Haryana – 121005
Phone: 0129-4878760
Email: cs@defrailtech.com
Frequently Asked Questions (FAQ)
What is the Defrail Technologies IPO date?
The IPO opens on 9 January 2026 and closes on 13 January 2026.
What is the price band of Defrail Technologies IPO?
The price band is ₹70 to ₹74 per share.
What is the lot size of Defrail Technologies IPO?
The minimum application size is 3,200 shares.
When will Defrail Technologies IPO allotment be finalised?
The allotment is expected on 14 January 2026.
Where will Defrail Technologies IPO list?
The IPO will list on BSE SME.
This IPO seems interesting with a smaller issue size and a market maker reserve. Given the low market cap, it could be a good opportunity for those looking for growth potential in niche sectors like rubber manufacturing. Excited to see how this performs once it’s listed!