The initial public offering (IPO) of Narmadesh Brass Industries commenced its subscription journey today, Monday, January 12. This small and medium enterprise (SME) public issue will be open for investors to bid on until Thursday, January 15, marking a crucial step for the Gujarat-based manufacturer.
Narmadesh Brass IPO Subscription Status: A Slow Start
As of 3:10 PM on the first day of bidding, the Narmadesh Brass IPO was subscribed 0.49% overall. The subscription data revealed a varied interest across investor categories. The portion reserved for non-institutional investors saw a relatively stronger response, being subscribed 0.94 times. However, the retail individual investors' segment received a more muted reaction, with only 0.05 times subscription on day one.
Grey Market Premium and Key IPO Details
In a significant indicator of market sentiment, shares of Narmadesh Brass are currently not commanding any premium in the grey market. According to data from investorgain.com, the grey market premium (GMP) for the IPO stands at +₹0. This suggests that the listing, scheduled for later this month, could potentially occur at the issue price itself.
The Narmadesh Brass IPO is a fixed-price offering aiming to raise a total of ₹44.87 crore. The issue comprises two components:
- A fresh issue of 0.07 crore shares aggregating to ₹36.09 crore.
- An offer for sale (OFS) of 0.02 crore shares valued at ₹8.78 crore.
The company has set the IPO price at ₹515 per equity share. The lot size for application is 240 shares, which means retail investors need to apply for a minimum of 480 shares, amounting to an investment of ₹2,47,200.
Company Background and Use of Proceeds
Narmadesh Brass Industries operates from a manufacturing facility spanning approximately 6,300 square metres located at the Shree Ganesh Industrial Hub in Jamnagar, Gujarat. Jamnagar is widely recognized across India as the "Brass City" due to its concentration of brass manufacturing units.
The company produces a diverse portfolio of brass products, including:
- Brass billets and rods.
- Valves, plumbing, and sanitary fittings.
- Components for agricultural sprayers.
- Customised machined parts.
Its products cater to both domestic and international export markets.
The proceeds from the fresh issue portion of the IPO will be utilized for several corporate purposes:
- Repayment or pre-payment of certain outstanding borrowings.
- Purchase of new machinery and equipment.
- Funding working capital requirements.
- General corporate purposes.
The allotment for the IPO is expected to be finalized on January 16, 2026. Following this, the shares of Narmadesh Brass Industries are slated to list on the BSE SME platform on January 20, 2026.
Aryaman Financial Services Ltd. is the book-running lead manager for this issue. Kfin Technologies Ltd. is serving as the registrar, and JSK Securities & Services Pvt. Ltd. has been appointed as the market maker for the IPO.
Disclaimer: This news article is for informational and educational purposes only. It is not investment advice. Readers are strongly advised to consult with a qualified investment advisor before making any financial decisions.
