Narmadesh Brass Industries Ltd IPO Details
| Detail | Description |
|---|---|
| IPO Date | 12 to 15 January, 2026 |
| Listing Date | Tuesday, 20 January, 2026 |
| Face Value | ₹ 10 per share |
| Issue Price Band | ₹ 515 per share |
| Lot Size | 240 shares |
| Sale Type | Fresh Issue & Offer for Sale (OFS) |
| Total Issue Size | 8,71,200 shares (aggregating up to ₹ 45 crore) |
| Reserved for Market Maker | 45,600 shares (aggregating up to ₹ 2 crore) |
| Fresh Issue(Ex Market Maker) | 6,55,200 shares (aggregating up to ₹ 34 crore) JSK Securities & Services Pvt. Ltd. |
| Offer for Sale | 1,70,400 shares of ₹10 each (aggregating up to ₹ 9 crore) |
| Net Offered to Public | 8,25,600 shares (aggregating up to ₹ 43 crore) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 24,00,000 shares |
| Share Holding Post Issue | 31,00,800 shares |
About Narmadesh Brass Industries Ltd IPO
The Narmadesh Brass Industries Ltd IPO is a fixed-price SME issue of 8,71,200 equity shares aggregating up to ₹44.87 crores at ₹515 per share, comprising a fresh issue of 7,00,800 shares (₹36.09 crore) and an offer-for-sale (OFS) of 1,70,400 shares (₹8.78 crore). The IPO opens on January 12, 2026 and closes on January 15, 2026, with allotment finalisation expected on January 16, 2026 and tentative listing on BSE SME on January 20, 2026. The lot size is 240 shares (₹1,23,600), with retail investors required to apply for a minimum of 2 lots (480 shares, ₹2,47,200) and HNIs a minimum of 3 lots (720 shares, ₹3,70,800).
Aryaman Financial Services Ltd is the book running lead manager, Kfin Technologies Ltd is the registrar and market makers include specified brokers for liquidity support.
Company Background
Narmadesh Brass Industries Ltd is a modern brass manufacturing company based in Jamnagar, Gujarat – known as India’s “Brass City” due to its cluster of brass producers. The company operates a manufacturing facility spanning 6,293 m² at Plot Nos. 5, 8 & 9 in Shree Ganesh Industrial Hub, Jamnagar, with in-house casting and forging capabilities for end-to-end production control.
It holds ISO 9001:2015 certification for its Quality Management System and employs 66 contract labourers as of June 30, 2025, to support operations across domestic and export markets. Narmadesh focuses on high-quality brass products for plumbing, electrical and industrial applications, leveraging Jamnagar’s ecosystem for raw material access and skilled labour.
Operations & Product Range
Facility & Production
The integrated facility in Jamnagar handles brass rod processing, casting, forging and finishing, ensuring quality from raw material to dispatch. With a 6,293 m² area, it supports diverse product lines through specialized machinery for extrusion, machining and testing to meet international standards.
ISO certification underscores commitment to consistent quality, enabling supply to both Indian and overseas buyers in competitive markets.
Brands & Market Presence
Narmadesh produces a wide variety of brass products, including fittings, components and hardware for plumbing, electrical fittings and industrial uses, sold domestically and exported. The company’s presence benefits from Jamnagar’s brass cluster, facilitating supply chain efficiency and scale.
Narmadesh Brass Industries IPO Revenue Channels
Revenue primarily comes from the manufacturing and sale of brass products such as fittings, valves, electrical components and industrial hardware to domestic wholesalers, exporters and end-users. Operations are supported by B2B sales channels, with growth driven by demand in plumbing, construction and exports.
FY2025 total income was ₹88.05 crore (up 11% from ₹79.06 crore in FY2024), though PAT dipped 20% to ₹5.67 crore from ₹7.10 crore, amid rising scale and investments.
Management & Shareholding
Promoters & Shareholding
Pre-issue shareholding totals 24,00,000 shares, expanding to 31,00,800 post-issue after allotment of fresh shares. Promoters’ holdings will dilute due to the OFS component, but detailed post-issue patterns are provided in the prospectus.
Board Members
The board includes promoters with deep experience in brass manufacturing, guiding operations from Jamnagar’s specialised ecosystem.
IPO Objectives
Proceeds from the fresh issue will be utilised for:
- • Repayment/prepayment of outstanding borrowings (₹14.50 crore)
- • Purchase of machinery and equipment (₹3.29 crore) to enhance production capabilities
- • Funding working capital requirements (₹10.20 crore)
- • General corporate purposes
The OFS allows partial exit to selling shareholders.
Conclusion
The Narmadesh Brass Industries IPO taps into Jamnagar’s brass hub strengths, offering exposure to a certified manufacturer with steady revenue growth despite PAT moderation. Backed by capex for modernisation, debt reduction and working capital, it positions for expansion in domestic and export brass demand, appealing to SME investors eyeing metal processing plays.
Narmadesh Brass Industries Ltd IPO Financial Information
Latest Revenue
34.21
₹ Crore
Profit After Tax
4.01
₹ Crore
Net Worth
22.46
₹ Crore
Total Borrowing
19.21
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 63.1 | 34.21 | 4.01 | 22.46 | 23.3 | 19.21 | |||
| 31 Mar 2025 | 60 | 88 | 5.72 | 11 | 12.69 | 24.73 | |||
| 31 Mar 2024 | 46.68 | 79.06 | 7.1 | 5.73 | 6.97 | 22.43 | |||
| 31 Mar 2023 | 22 | 60.09 | 0.89 | 8.3 | — | 5.94 | |||
| Amount in ₹ Crore | |||||||||
Narmadesh Brass Industries Ltd Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 49.99% |
| ROCE | 23.29% |
| RoNW | 49.99% |
| PAT Margin | 6.52% |
| EBITDA Margin | 10.64% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 26.23 | 26 |
| P/E (x) | 19.63 | 20 |
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Competitive Strengths
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Narmadesh Brass Industries Ltd IPO Timeline
| IPO Open Date | Monday, 12 January, 2026 |
| IPO Close Date | Thursday, 15 January, 2026 |
| Tentative Allotment | Friday, 16 January, 2026 |
| Initiation of Refunds | Monday, 19 January, 2026 |
| Credit of Shares to Demat | Monday, 19 January, 2026 |
| Tentative Listing Date | Tuesday, 20 January, 2026 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 480 | ₹2,47,200 |
| Individual investors (Retail) (Max) | 2 | 480 | ₹2,47,200 |
| S-HNI (Min) | 3 | 720 | ₹3,70,800 |