Narmadesh Brass Industries came to market through an SME IPO that opened on 12 January 2026 and closed on 16 January 2026, and the shares listed on 21 January 2026 on BSE SME. The price band was ₹515 per share and one lot was 240 shares, so the minimum application was ₹1,23,600. The issue size was ₹44.87 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Kfin Technologies Ltd was the registrar to the issue, and Aryaman Financial Services Ltd was the lead manager.
As of 16 January 2026.
| Day |
|---|
| 1 |
| 2 |
| 3 |
| 4 |
Narmadesh Brass Industries Ltd. is an upscale brass production unit located at Jamnagar in Gujarat.The company’s production facility is of 6,293 m² size and is located in Plot Nos. 5, 8, & 9, Shree Ganesh Industrial Hub, Jamnagar, which is known for being the “Brass City” of India because of the high concentration of brass manufacturers in this city. Narmadesh deals with the manufacture of a range of brass products, both for the local and export markets. They specialize in:
Brass Billets Brass Rods Brass Valves (including Ball Valves, NRVs) Plumbing & Sanitary Fittings (including lead-free) Agricultural Sprayer Parts and Garden Fittings Customization through Casting, Forging, Turning, CNC, and VMC machined components. Their in-house facilities mean they have strict control over quality, right from production to dispatch.The company is ISO 9001:2015 certified for its Quality Management System with high adherence to international quality standards.This spans its skills in casting and forging processes undertaken by the same facility.
The company had contracted a total of 81 contract labourers as of September 30, 2025, to facilitate their manufacturing activities.
As described in the offer document.
| Metric | 30-Sep-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
|---|
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.
Narmadesh Brass Industries IPO was a ₹44.87 crore fixed-price issue, comprising a fresh issue of ₹36.09 crore and an offer for sale of ₹8.78 crore. It was priced at ₹515 per share with a lot size of 240 shares; the minimum retail application was 480 shares (₹2,47,200). The IPO was open from January 12 to January 16, 2026 and was subscribed 1.31x.
Shares listed on BSE SME on January 21, 2026 at ₹495, a 3.9% discount to the issue price of ₹515. Kfin Technologies Ltd. is the registrar. Aryaman Financial Services Ltd. is the book running lead manager.
The issue price of Narmadesh Brass Industries IPO is ₹515 per share (fixed price).
The lot size of Narmadesh Brass Industries IPO is 240 shares.
The minimum investment for Narmadesh Brass Industries IPO is approximately ₹2,47,200 based on the issue price.
The allotment date of Narmadesh Brass Industries IPO is Jan 19, 2026.
You can check Narmadesh Brass Industries IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Narmadesh Brass Industries IPO allotment status on Rupix for quick and easy access.
₹515 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 240 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,23,600. After listing, SME shares also trade in lots rather than one share at a time.
₹1,23,600, for one lot of 240 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 12 January 2026 and closed on 16 January 2026.
The basis of allotment was published on 19 January 2026 by Kfin Technologies Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 21 January 2026 on BSE SME.
The issue size was ₹44.87 crore. The fresh issue was 7,00,800 shares (aggregating up to ₹36.09 crore). The offer for sale was 1,70,400 shares (aggregating up to ₹8.78 crore).