Brandman Retail Limited
Bookbuilding IPO · NSE
- Price band
- ₹167 - ₹176
- Lot size
- 800 shares
- Issue amount
- ₹86.08 cr
- Total subscription
- 114.55×
- Opens
- 4 Feb 2026
- Closes
- 6 Feb 2026
- Allotment
- 9 Feb 2026
- Listing
- 11 Feb 2026
Offer at a glance
Issue overview
- Issue size
- 48,91,200 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,33,600
- Fresh issue
- ₹86.08 cr
- Offer for sale
- ₹0 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,40,800
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,35,65,986
- Shares after issue
- 1,84,57,186
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 1,600 | ₹2,81,600 |
| sHNI | 3 | 2,400 | ₹4,22,400 |
| bHNI | 8 | 6,400 | ₹11,26,400 |
Share reservation
Subscription & GMP
Subscription by category
Reported 6 Feb 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 76 |
| NIB | 0 | 27,813 |
| RETAIL | 1,017 | 94,702 |
| HNIs(10L +) | 194 | 17,683 |
| HNIs (2-10L) | 97 | 10,130 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 16.33 | 1,392.24 |
| FIIs | 0 | 251.6 |
| FIs | 0 | 60.01 |
| Others | 0 | 1,080.64 |
| RETAIL | 28.64 | 2,666.81 |
| HNIs 2+ | 4.1 | 458.32 |
| HNIs 10+ | 8.21 | 2,043.9 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Dec-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 15.2 | 16.43 | 6.49 |
| ROE | 43.69 | 108.47 | 175.92 |
| ROCE | 36.92 | 75.08 | 93.22 |
| RONW | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 11.39 | 0 |
| POST IPO(PE) | 12.38 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Brandman Retail Limited | 0 | 0 | 10.00 | 23.37 | 70.33 | 16.43 |
| Redtape Limited | 47.39 | 145.96 | 2.00 | 14.27 | 21.55 | 3.08 |
| Bata India Limited | 47.41 | 1219.90 | 5.00 | 122.54 | 20.99 | 25.73 |
| Lehar Footwears Limited | 34.59 | 212.75 | 10.00 | 63.60 | 9.67 | 6.15 |
| Liberty Shoes Limited | 40.57 | 321.30 | 10.00 | 130.60 | 6.09 | 7.92 |
Company information
Company profile
Brandman Retail Limited, incorporated in 2021, is engaged in the distribution of international sports and lifestyle brands in India and operates a multi-channel business model spanning distribution, licensing, retail, and e-commerce with an emphasis on innovation, customer-centricity, and sustainability. The company manages 11 Exclusive Brand Outlets across northern India in cities such as Ahmedabad, New Delhi, Gurugram, Lucknow, and Noida, primarily retailing the New Balance brand under non-exclusive distribution agreements, and also operates two Multi-Brand Outlets under the “Sneakrz” brand in Bathinda and New Delhi. In addition to its physical retail presence, Brandman Retail has a strong digital footprint, selling products through major e-commerce platforms including Flipkart, Ajio, and Tata Cliq, with consistent monthly order fulfillment.
Strengths
- Experienced Management Team: Promoters with strong retail and brand expertise, supported by a skilled professional team.
- Omni-Channel Distribution: Presence across EBOs, MBOs, e-commerce platforms, and own online channel ensures wide reach.
- Asset-Light & Scalable Model: Centralized inventory and trading model enable growth with limited capital investment.
Risk factors
- Non-Exclusive Brand Dependence: Brands may appoint other distributors, increasing competition and pricing pressure.
- Store Expansion Uncertainty: Delay or higher costs in finalizing new store locations may affect growth plans.
- E-Commerce Platform Reliance: Dependence on marketplace contracts exposes the business to compliance risks, penalties, or termination.
Promoters
Mr. Arun Malhotra
Ms. Kavya Malhotra
Ms. Kashika Malhotra
Registrar & documents
Lead manager
Gretex Corporate Services Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
DPT 718-719, 7th Floor DLF Prime Tower Okhla Industrial Area Phase-I, South Delhi, New Delhi, 110020
011-46052323
[email protected]Company website ↗Understanding BRANDMAN IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.