Defrail Technologies came to market through an SME IPO that opened on 9 January 2026 and closed on 13 January 2026, and the shares listed on 19 January 2026 on BSE SME. The price band was ₹70 to ₹74 per share and one lot was 1600 shares, so the minimum application was ₹1,18,400. The issue size was ₹13.77 crore. The whole issue was fresh shares, so the money raised went to the company.
Maashitla Securities Pvt.Ltd was the registrar to the issue, and NEXGEN Financial Solutions Pvt. Ltd was the lead manager.
As of 13 January 2026.
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Defrail Technologies Limited was founded in October 2023 and is involved in the production of rubber components and parts, such as molded rubber parts, rubber profiles and beadings, and rubber hoses and assemblies. Its products are used in a variety of industries, including the automotive, railroad, and defense sectors. The company provides customers with both standard products and solutions that are specifically designed to meet their operational needs. Defrail Technologies began in 1980 with the founding of Vikas Rubber Industries.
In order to provide B2B clients with more capabilities, Impex Hitech Rubber was established in 2008. Through Business Transfer Agreements, both companies were combined into Defrail Technologies Limited on April 1, 2024. In addition to serving the B2G market by delivering goods straight to government agencies like Indian Railways, the company mainly uses a B2B model, fulfilling bulk orders to customers in the automotive industry.
As described in the offer document.
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Mr. Vivek Aggarwal, Mr. Abhishek Aggarwal, Ms. Ashi Aggarwal, Mr. Dinesh Aggarwal. Promoter holding 100% before the issue and 73.52% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Defrail Technologies IPO was a ₹13.77 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹70–₹74 per share with a lot size of 1,600 shares; the minimum retail application was 3,200 shares (₹2,36,800). The IPO was open from January 9 to January 13, 2026 and was subscribed 105.61x. Shares listed on BSE SME on January 19, 2026 at ₹95, a 28.4% premium to the issue price of ₹74. Maashitla Securities Pvt. Ltd. is the registrar.
NEXGEN Financial Solutions Pvt. Ltd. is the book running lead manager.
The price band of Defrail Technologies IPO is ₹70 to ₹74 per share.
The lot size of Defrail Technologies IPO is 1600 shares.
The minimum investment for Defrail Technologies IPO is approximately ₹2,36,800 based on the upper price band.
The allotment date of Defrail Technologies IPO is Jan 14, 2026.
Defrail Technologies IPO's final recorded GMP before listing was ₹10 per share (a 14% premium over the ₹74 upper price band). The shares listed at ₹95. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Defrail Technologies IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Defrail Technologies IPO allotment status on Rupix for quick and easy access.
₹70 to ₹74 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1600 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,18,400. After listing, SME shares also trade in lots rather than one share at a time.
₹1,18,400, for one lot of 1600 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 9 January 2026 and closed on 13 January 2026.
The basis of allotment was published on 14 January 2026 by Maashitla Securities Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 19 January 2026 on BSE SME.
The issue size was ₹13.77 crore. The fresh issue was 18,60,800 shares (aggregating up to ₹13.77 crore).