Narmadesh Brass Industries Ltd. is a modern brass manufacturing company based in Jamnagar, Gujarat, widely known as India’s “Brass City”.
Narmadesh Brass Industries IPO 2026 – Dates, Price, Lot Size, Review & Full Details
Fixed Price IPO | BSE SME
IPO Snapshot
12 January 2026
15 January 2026
16 January 2026
20 January 2026 (Tentative)
₹515 per share
240 shares
₹44.87 Crore
Fixed Price IPO (Fresh + OFS)
Narmadesh Brass Industries IPO Key Details
| Particular | Details |
|---|---|
| IPO Dates | 12 to 15 January 2026 |
| Face Value | ₹10 per share |
| Issue Price | ₹515 per share |
| Total Issue Size | 8,71,200 shares (₹44.87 Cr) |
| Market Cap (Pre-IPO) | ₹159.69 Crore |
| Listing At | BSE SME |
| Issue Type | Fixed Price IPO |
| Sale Type | Fresh Capital & Offer for Sale |
| Registrar | Kfin Technologies Ltd. |
| Lead Manager | Aryaman Financial Services Ltd. |
| Market Maker | JSK Securities & Services Pvt. Ltd. |
IPO Timeline (Tentative)
| Event | Date |
|---|---|
| IPO Opens | Monday, 12 January 2026 |
| IPO Closes | Thursday, 15 January 2026 |
| Allotment | Friday, 16 January 2026 |
| Refunds | Monday, 19 January 2026 |
| Shares Credited | Monday, 19 January 2026 |
| Listing | Tuesday, 20 January 2026 |
IPO Lot Size & Investment Details
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Minimum & Maximum) | 2 | 480 | 2,47,200 |
| HNI (Minimum) | 3 | 720 | 3,70,800 |
IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Market Maker | 45,600 (5.23%) |
| NII (HNI) | 4,12,800 (47.38%) |
| Retail | 4,12,800 (47.38%) |
| Total | 8,71,200 (100%) |
About Narmadesh Brass Industries Ltd.
Narmadesh Brass Industries Ltd. is a modern brass manufacturing company based in Jamnagar, Gujarat, widely known as India’s “Brass City”.
The company operates a 6,293 sq. meter manufacturing facility located at Shree Ganesh Industrial Hub, Jamnagar, and specialises in producing brass billets, rods, valves, plumbing fittings, sanitary fittings, agricultural sprayer parts, and customised machined components.
Its in-house casting, forging, CNC, VMC machining and quality control processes ensure end-to-end manufacturing control. The company holds ISO 9001:2015 certification for its quality management systems.
As of September 30, 2025, the company employed 81 contract labourers.
Competitive Strengths
- ISO-certified manufacturing facility located in Jamnagar’s brass hub
- Complete in-house process control from casting to dispatch
- Experienced promoters and management team
- Diverse product portfolio catering to domestic and export markets
Financial Performance (₹ Crore)
| Particular | 30 Sep 2025 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Total Income | 34.21 | 88.05 | 79.06 | 60.09 |
| Profit After Tax | 4.01 | 5.72 | 7.10 | 0.89 |
| EBITDA | 6.24 | 9.34 | 11.41 | 2.13 |
| Net Worth | 22.46 | 11.45 | 5.73 | 8.30 |
| Total Assets | 63.10 | 59.66 | 46.68 | 22.00 |
| Total Borrowing | 19.21 | 24.73 | 22.43 | 5.94 |
Objects of the Issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Repayment / prepayment of borrowings | 14.50 |
| Purchase of machinery and equipment | 3.29 |
| Working capital requirements | 10.20 |
| General corporate purposes | 4.60 |
Key Performance Indicators (FY25)
| ROE | 49.99% |
| ROCE | 23.29% |
| RoNW | 49.99% |
| PAT Margin | 6.52% |
| EBITDA Margin | 10.64% |
| Post-IPO P/E | 19.9x |
Promoters
M/s. Sprayking Limited, Mr. Hitesh Dudhagara and Mrs. Ronak Dudhagara.
IPO Registrar
Kfin Technologies Ltd.
Phone: 040-67162222, 040-79611000
Email: einward.ris@kfintech.com
IPO Lead Manager
- Aryaman Financial Services Ltd.
Lead Manager reports include performance summary and tracker.
Company Contact Details
Narmadesh Brass Industries Ltd.
Plot No. 5, 8 & 9, Survey No. 433,
Shree Ganesh Industrial Hub, Changa Village,
Jamnagar, Gujarat – 361012
Phone: +91 02895 299401
Email: info@narmadeshbrass.com
Frequently Asked Questions (FAQ)
What is the Narmadesh Brass Industries IPO date?
The IPO opens on 12 January 2026 and closes on 15 January 2026.
What is the issue price of Narmadesh Brass Industries IPO?
The IPO is priced at ₹515 per share.
What is the lot size of Narmadesh Brass Industries IPO?
The minimum application size is 480 shares.
When will Narmadesh Brass Industries IPO allotment be finalised?
The allotment is expected on 16 January 2026.
Where will Narmadesh Brass Industries IPO list?
The IPO will list on BSE SME.