Narmadesh Brass IPO Details
| IPO Open Date | January 12, 2026 |
| IPO Close Date | January 16, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹515 Per Share |
| Issue Size | Approx ₹45 Crores |
| Fresh Issue | Approx ₹36 Crores |
| Offer for Sale: | Approx 1,70,400 Equity Shares |
| Issue Type | Fixed Price Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Narmadesh Brass IPO Review & Key Points
- Review: Neutral
Narmadesh Brass IPO Market Lot
The Narmadesh Brass IPO minimum market lot is 480 shares with ₹2,47,200 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 480 | ₹2,47,200 |
| Retail Maximum | 2 | 480 | ₹2,47,200 |
| S-HNI Minimum | 3 | 720 | ₹3,70,800 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| NII Shares Offered | 4,12,800 Shares | 47.38% |
| Retail Shares Offered | 4,12,800 Shares | 47.38% |
Narmadesh Brass IPO Dates
The Narmadesh Brass IPO date is January 12 and the close date is January 16. The Narmadesh Brass IPO allotment will be finalized on January 19 and the IPO listing on January 21.
| IPO Open Date: | January 12, 2026 |
| IPO Close Date: | January 16, 2026 |
| Basis of Allotment: | January 19, 2026 |
| Refunds: | January 20, 2026 |
| Credit to Demat Account: | January 20, 2026 |
| IPO Listing Date: | January 21, 2026 |
| IPO Bidding Cut-off Time: | January 16, 2026 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are M/s. Sprayking Limited, Mr. Hitesh Dudhagara and Mrs. Ronak Dudhagara.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 24,00,000 | 99.92% |
| Promoter Holding Post Issue | 31,00,800 | 71.84% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Repayment/ prepayment, in full or in part, of certain outstanding borrowings | ₹14.50 |
| Purchase of machinery and equipment | ₹3.29 |
| Funding Working capital requirements | ₹10.20 |
| General Corporate Purpose | ₹- |
About Narmadesh Brass IPO
Narmadesh Brass Industries Limited has been involved in the manufacturing of a wide range of brass products. The company runs its operations through its manufacturing located in plot no. 5, 8 & 9 at Jamnagar, Gujarat, spanning 6,293.03 sq.mtr. Its manufacturing facilities are capable of producing up to 4,320 metric tonnes (MT) of brass billets per year, 4,320 MT of brass rods per year, and 1,600 MT of brass components per year.
It’s product portfolio consists of brass rods, brass billets, agricultural sprayer parts, garden fittings, ball valves, non-return valves (NRVs), turning components and plumbing fittings, sanitary fittings, and brass compression fittings serving both domestic and global markets. Moreover, the company consists of 81 laborers as of September 2025.
Narmadesh Brass IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹60.09 | ₹58.92 | ₹0.89 | ₹22.00 |
| 2024 | ₹79.06 | ₹69.38 | ₹7.10 | ₹46.68 |
| 2025 | ₹88.05 | ₹80.92 | ₹5.72 | ₹59.66 |
| September 2025 | ₹34.21 | ₹29.37 | ₹4.01 | ₹63.10 |
Narmadesh Brass IPO Valuation – FY2025
Check Narmadesh Brass IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 49.99% |
| ROCE: | 23.29% |
| EBITDA Margin: | 10.64% |
| PAT Margin: | 6.52% |
| Debt to equity ratio: | 1.68 |
| Earning Per Share (EPS): | ₹26.23 (Basic) |
| Price/Earning P/E Ratio: | 19.63 |
| Return on Net Worth (RoNW): | 49.99% |
| Net Asset Value (NAV): | ₹57.24 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Poojawestern Metaliks Limited | 1.53 | 18.67 | 11.46% | 13.38 | 50.37 Cr. |
| Siyaram Recycling Industries Limited | 6.69 | 8.10 | 11.49% | 58.24 | 515.56 Cr. |
IPO Lead Managers aka Merchant Bankers
- Aryaman Financial Services Ltd.
Company Address
Narmadesh Brass Industries Ltd.
Plot No. 5, 8 & 9
Survey No. 433, Shree Ganesh Industrial Hub
Changa Village
Jamnagar, Gujarat, 361012
Phone: +91 028 95299401
Email: [email protected]
Website: https://www.narmadeshbrass.com/
IPO Registrar
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://ipostatus.kfintech.com/
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Note: The Narmadesh Brass IPO price band and date are officially announced. The (Narmadesh Brass IPO grey market premium) will be added to the IPO GMP page as it will start).
