Narmadesh Brass Industries IPO
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Narmadesh Brass Industries IPO details
Schedule of Narmadesh Brass Industries
| Issue open date | 12 Jan 2026 |
| Issue close date | 16 Jan 2026 |
| UPI mandate deadline | 16 Jan 2026 (5 PM) |
| Allotment finalization | 19 Jan 2026 |
| Refund initiation | 20 Jan 2026 |
| Share credit | 20 Jan 2026 |
| Listing date | 21 Jan 2026 |
| Mandate end date | 31 Jan 2026 |
| Lock-in end date for anchor investors (50%) | 15 Feb 2026 |
| Lock-in end date for anchor investors (remaining) | 16 Apr 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Narmadesh Brass Industries
Narmadesh Brass Industries Limited is a Jamnagar-based brass manufacturing company. It was originally established as a partnership firm in August 2019 and was subsequently converted into a public limited company in October 2023. The company is promoted by M/s. Sprayking Limited, along with Mr Hitesh Dudhagara, Mrs Ronak Dudhagara, and Mr Krish Dudhagara.
The company operates from an ISO 9001:2015 certified manufacturing facility located in Jamnagar, Gujarat. It is engaged in the manufacture of brass billets, brass rods, and brass components, and also provides casting and forging job work services. Its products cater to both domestic and international markets, serving industrial and graded customers. Narmadesh Brass follows a manufacturing-led, volume-driven business model, supported by in-house production capabilities and established supplier relationships. Its operations benefit from Jamnagar’s strong brass ecosystem, technical expertise, and access to raw materials. Key strengths include product quality, operational efficiency, customer relationships, and promoter experience in the brass manufacturing industry
Financials of Narmadesh Brass Industries
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 44.87 |
| Fresh Issue – Proceeds go to the company | 36.09 |
| Offer for sale – Proceeds go to the existing investors | 8.78 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Repayment/prepayment of borrowings | 14.5 (40.18%) |
| Purchase of machinery and equipment | 3.29 (9.12%) |
| Funding working capital requirements | 10.2 (28.27%) |
| Issue-related expenses | 3.5 (9.68%) |
| General corporate purposes | 4.6 (12.75%) |
Strengths
- ISO 9001:2015 certified manufacturing facility in the Jamnagar brass cluster.
- Experienced promoters with a strong background in brass manufacturing.
- Integrated capabilities across brass rods, billets, and components.
- Established customer base across domestic and export markets.
- Strategic location with access to skilled labour and raw materials.
Risks
- High revenue dependence on a limited range of brass products.
- Single-location manufacturing increases operational concentration risk.
- Dependence on a small number of customers for a large share of revenue.
- Exposure to volatility in brass, copper, and zinc prices.
- Limited operating history as a recently incorporated public company.
Allotment Status for Narmadesh Brass Industries
To check your IPO allotment status:
- Visit the Kfin Technologies IPO Application Status page.
- Select the company name from the dropdown menu.
- Select and enter one of the following: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Click Submit to view your allotment status.
Subscription Figures for Narmadesh Brass Industries
As per media reports (Link), the Grey Market Premium (GMP) of Narmadesh Brass Industries is reported at ₹0 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 05:00 PM on January 16, 2026:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| NII | 4.12 | 7.91 | 1.92x |
| Retail | 4.12 | 1.83 | 0.44x |
| Total | 8.26 | 10.33 | 1.25x |