Narmadesh Brass Industries Limited
Fixed Price IPO · BSE
- Price band
- ₹515 - ₹515
- Lot size
- 240 shares
- Issue amount
- ₹44.86 cr
- Total subscription
- 1.22×
- Opens
- 12 Jan 2026
- Closes
- 16 Jan 2026
- Allotment
- 19 Jan 2026
- Listing
- 21 Jan 2026
Offer at a glance
Issue overview
- Issue size
- 8,71,200 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,23,600
- Fresh issue
- ₹36.09 cr
- Offer for sale
- ₹8.77 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,23,600
- Issue type
- Fixed Price IPO
- Shares before issue
- 24,00,000
- Shares after issue
- 31,00,800
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 480 | ₹2,47,200 |
| sHNI | 3 | 720 | ₹3,70,800 |
Share reservation
Subscription & GMP
Subscription by category
Reported 16 Jan 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 1 |
| NIB | 0 | 271 |
| RETAIL | 860 | 325 |
| HNIs (2-10L) | 573 | 260 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| RETAIL | 21.26 | 8.03 |
| NIB | 21.26 | 43.64 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 17.77 | 26.23 | 32.52 | 4.1 |
| ROE | 17.86 | 49.99 | 123.94 | 10.77 |
| ROCE | 13.31 | 23.29 | 37.05 | 11.2 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 19.63 | 0 | 0 |
| POST IPO(PE) | 19.9 | 0 | 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) (₹) |
|---|---|---|---|---|---|---|
| Siyaram Recycling Industries | 8.10 | 54.16 | 10.00 | 58.24 | 11.49 | 6.69 |
| Poojawestern Metaliks | 18.87 | 28.56 | 10.00 | 13.38 | 11.46 | 1.53 |
| Narmadesh Brass Industries | 19.63 | 515.00 | 10.00 | 57.24 | 49.99 | 26.23 |
Company information
Company profile
Narmadesh Brass Industries Ltd is a modern brass manufacturing company based in Jamnagar, Gujarat, operating from a 6,293 square metre facility located in the Shree Ganesh Industrial Hub, an area well known for brass production. The company makes a wide range of brass products for both Indian and international markets, including brass billets and rods, ball valves and NRVs, plumbing and sanitary fittings with lead-free options, and agricultural sprayer and garden fittings. All major processes such as casting, forging, turning, CNC and VMC machining are carried out in-house, which helps the company maintain consistent quality from production to final dispatch. The company is certified under ISO 9001:2015 for its quality management system and, as of September 30, 2025, its manufacturing operations were supported by 81 contract workers.
Strengths
- Integrated Manufacturing: In-house production of brass rods, billets, and components allows better customization, quality control, and cost efficiency.
- Strategic Jamnagar Location: Located in Jamnagar, Gujarat, offering easy access to raw materials, skilled labor, and strong logistics support.
- Experienced Promoter Leadership: Led by promoters with over 20 years of industry experience, ensuring strong execution and strategic focus.
Risk factors
- Potential Conflict of Interest: Promoters’ involvement in similar businesses may create conflicts affecting operations.
- Capex Delay & Cost Overrun Risk: Delays in ordering machinery or cost increases may impact expansion plans.
- Repayable Promoter Loans: On-demand unsecured loans could put pressure on cash flows if recalled.
Promoters
M/s. Sprayking Limited
Mr. Hitesh Dudhagara
Mrs. Ronak Dudhagara
Registrar & documents
Lead manager
Aryaman Financial Services Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Plot No. 5, 8 & 9 Survey No. 433, Shree Ganesh Industrial Hub Changa Village Jamnagar, Gujarat, 361012
+91 028 95299401
[email protected]Company website ↗Understanding NARMADESH 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.