Brandman Retail IPO was launched as a Book Built SME public issue by Brandman Retail Limited. The issue consisted entirely of a fresh issue of equity shares, allowing the company to raise funds for its future expansion plans. The capital raised through the IPO is intended to support business growth, strengthen working capital, expand the retail network, invest in infrastructure, and meet general corporate requirements. Following the completion of the public issue, the company’s equity shares were listed on the NSE SME platform.
Brandman Retail Limited is engaged in the organised retail business, offering a wide range of lifestyle and fashion products through its retail operations. The company focuses on delivering quality products, enhancing customer experience, and expanding its presence across different markets. Its business model combines product sourcing, inventory management, and retail operations to serve a diverse customer base.
The company has developed a retail network supported by efficient supply chain management and customer-centric operations. It continues to strengthen its market position by expanding its product portfolio, improving operational efficiency, and increasing its geographical reach through new stores and strategic business initiatives.
India’s organised retail sector continues to grow due to rising disposable incomes, increasing urbanisation, changing consumer preferences, and greater adoption of branded products. The expansion of modern retail formats and digital commerce is expected to create long-term growth opportunities for companies operating in this industry.
Although the IPO has already been completed and the shares are listed, investors should carefully evaluate the company’s financial performance, business model, valuation, competitive position, and future growth strategy before making any investment decision.
Brandman Retail IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Brandman Retail IPO |
| Company Name | Brandman Retail Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹167 to ₹176 Per Share |
| Issue Size | ₹86.09 Crore |
| Fresh Issue | ₹86.09 Crore |
| Offer for Sale | Nil |
| Fresh Issue Shares | 48,91,200 Equity Shares |
| IPO Open Date | 4 February 2026 |
| IPO Close Date | 6 February 2026 |
| Basis of Allotment | 9 February 2026 |
| Refund Initiation | 10 February 2026 |
| Shares Credited to Demat Account | 10 February 2026 |
| Listing Date | 11 February 2026 |
| Listing Exchange | NSE SME |
| Lot Size | 800 Equity Shares |
| Registrar | Maashitla Securities Private Limited |
| Book Running Lead Manager | Gretex Corporate Services Limited |
The IPO comprised only a fresh issue of equity shares, and no existing shareholders offered shares through the public issue. The proceeds are proposed to be utilised for business expansion, working capital requirements, infrastructure development, and other corporate purposes that support the company’s long-term growth plans.
Brandman Retail IPO Dates
The important events related to the Brandman Retail IPO are presented below.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 4 February 2026 |
| IPO Closing Date | 6 February 2026 |
| Basis of Allotment | 9 February 2026 |
| Refund Initiation | 10 February 2026 |
| Shares Credited to Demat Account | 10 February 2026 |
| Listing Date | 11 February 2026 |
Following the completion of the allotment process, successful applicants received the allotted shares in their demat accounts before trading commenced on the NSE SME platform.
Brandman Retail IPO Reservation
The equity shares offered through the IPO were allocated among various investor categories in accordance with the applicable regulations governing SME public issues.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation under each investor category depended on the number of valid applications received during the subscription period and the applicable allotment guidelines.
Brandman Retail IPO Lot Size
Applications for the IPO were accepted only in the prescribed lot sizes.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 2 Lots (1,600 Shares) | ₹2,81,600 |
| Retail Maximum | 2 Lots (1,600 Shares) | ₹2,81,600 |
| HNI Minimum | 3 Lots (2,400 Shares) | ₹4,22,400 |
The investment values shown above are calculated using the upper end of the price band of ₹176 per equity share. Investors were required to submit applications in multiples of the prescribed lot size.
About Brandman Retail Limited
Brandman Retail Limited is engaged in the organised retail business, offering a wide selection of lifestyle, fashion, and consumer products through its retail network. The company focuses on delivering quality merchandise, maintaining competitive pricing, and providing a convenient shopping experience for customers. Its business strategy combines efficient sourcing, inventory management, and customer-focused retail operations to strengthen its market presence.
Over the years, the company has expanded its operations by enhancing its product portfolio and strengthening relationships with suppliers and customers. By continuously adapting to changing consumer preferences and market trends, Brandman Retail Limited has built a business model that supports sustainable growth while maintaining operational efficiency.
The company places significant emphasis on product quality, inventory planning, and efficient supply chain management. Its retail operations are supported by structured procurement systems and business processes that help ensure product availability and timely delivery across its stores.
As consumer spending and demand for branded products continue to increase, Brandman Retail Limited aims to expand its retail footprint, improve operational capabilities, and strengthen its position within India’s organised retail sector.
Business Operations
Brandman Retail Limited operates in the organised retail industry by sourcing, marketing, and selling a diverse range of products that cater to the everyday needs and lifestyle preferences of consumers.
Its principal business activities include:
- Operating organised retail stores offering branded and lifestyle products.
- Procuring products from manufacturers and authorised suppliers.
- Managing inventory through efficient procurement and distribution systems.
- Offering a diversified product portfolio across multiple consumer categories.
- Expanding its retail presence through new store openings and business development initiatives.
- Strengthening customer relationships through quality products and reliable service.
- Enhancing operational efficiency through effective supply chain management.
- Continuously evaluating consumer trends to introduce new products and improve customer experience.
The company continues to focus on improving retail operations while expanding its customer reach across different regions.
Retail Network
Brandman Retail Limited operates through an organised retail network supported by warehousing, inventory management, and logistics infrastructure. Its retail operations are designed to ensure efficient product availability while maintaining consistent service standards across its stores.
The company regularly evaluates new market opportunities and expands its retail presence based on customer demand and business potential. Along with physical retail operations, it also focuses on improving supply chain efficiency and inventory planning to support business growth.
Industry Overview
India’s organised retail industry has grown rapidly over the last decade, supported by rising disposable incomes, urbanisation, changing consumer preferences, and increasing demand for branded products. The sector continues to benefit from improving retail infrastructure and the growing popularity of organised shopping formats.
The expansion of shopping centres, digital payment systems, and omnichannel retailing has transformed the retail landscape. Consumers now have access to a wider variety of products along with improved shopping convenience and better customer service.
Government initiatives supporting manufacturing, infrastructure development, and digital commerce have further contributed to the growth of the organised retail market. Rising middle-class consumption and increasing purchasing power are expected to continue driving demand across various retail segments.
With continued investment in store expansion, technology adoption, and customer engagement, organised retailers are well-positioned to benefit from India’s long-term consumption growth.
Business Strategy
Brandman Retail Limited aims to strengthen its position in the organised retail market by expanding its store network, improving operational efficiency, and enhancing customer satisfaction.
The company plans to increase its presence in existing and new markets while offering a wider selection of products to meet evolving consumer preferences. It also intends to optimise inventory management, strengthen supplier relationships, and improve supply chain efficiency to support sustainable growth.
Technology remains an important part of the company’s strategy. By improving inventory monitoring, sales management, and customer engagement systems, the company seeks to enhance operational performance and deliver a better shopping experience.
Going forward, Brandman Retail Limited plans to continue investing in business expansion, operational improvements, and customer-focused initiatives while leveraging growth opportunities in India’s organised retail sector.
Brandman Retail IPO Financial Information
A company’s financial performance provides valuable insights into its operational efficiency, profitability, and long-term growth potential. Before investing in an IPO, investors generally review financial statements, revenue trends, profitability, net worth, borrowings, and important financial ratios to better understand the company’s overall financial position.
Brandman Retail Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹186.74 Crore | ₹238.61 Crore | ₹316.85 Crore |
| Total Income | ₹187.31 Crore | ₹239.18 Crore | ₹317.62 Crore |
| EBITDA | ₹21.18 Crore | ₹29.46 Crore | ₹39.88 Crore |
| Profit Before Tax (PBT) | ₹15.84 Crore | ₹22.41 Crore | ₹31.25 Crore |
| Profit After Tax (PAT) | ₹11.76 Crore | ₹16.68 Crore | ₹23.42 Crore |
| Net Worth | ₹48.57 Crore | ₹65.84 Crore | ₹89.31 Crore |
| Total Borrowings | ₹28.36 Crore | ₹30.92 Crore | ₹33.85 Crore |
The company has reported consistent growth in its revenue and profitability over the last three financial years. The increase in operating income, profit after tax, and shareholders’ net worth reflects the company’s expanding retail operations and improving business performance. Controlled borrowings and higher earnings indicate a stable financial position that supports future expansion plans.
Brandman Retail IPO Key Performance Indicators (KPIs)
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 29.84% |
| Return on Capital Employed (ROCE) | 32.11% |
| Return on Net Worth (RONW) | 26.22% |
| EBITDA Margin | 12.57% |
| PAT Margin | 7.38% |
| Debt-to-Equity Ratio | 0.38 |
| Earnings Per Share (EPS) | ₹10.46 |
| Net Asset Value (NAV) Per Share | ₹39.88 |
| Price to Earnings (P/E) | 16.83x |
The financial ratios indicate efficient utilisation of capital and shareholders’ funds. Improving profitability margins and a moderate debt position demonstrate balanced financial management. Investors may also consider the EPS, NAV per share, and P/E ratio while evaluating the company’s valuation in relation to its earnings and future growth prospects.
Objects of the Brandman Retail IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Funding working capital requirements.
- Expanding the retail business and store network.
- Investment in infrastructure and operational facilities.
- Strengthening inventory and supply chain management.
- General corporate purposes.
The proposed utilisation of IPO proceeds is expected to support the company’s expansion strategy by increasing operational capacity, strengthening working capital, improving inventory management, and enhancing overall business efficiency. These investments are intended to support sustainable long-term growth while improving the company’s competitive position in the organised retail sector.
Brandman Retail IPO Listing Performance
The listing performance of an IPO indicates how the market responded when the company’s shares began trading on the stock exchange. While a strong listing may reflect positive investor sentiment, investment decisions should also consider the company’s financial performance, business fundamentals, valuation, and long-term growth prospects.
Brandman Retail IPO Listing Details
| Particular | Value |
|---|---|
| Listing Exchange | NSE SME |
| Listing Date | 11 February 2026 |
| Issue Price | ₹176 Per Share |
| Listing Price | ₹212.00 Per Share |
| Listing Gain | 20.45% |
| Closing Price on Listing Day | ₹223.80 Per Share |
Brandman Retail Limited made a positive debut on the NSE SME platform by listing above its issue price. The premium listing reflected healthy demand during the public issue. However, investors should evaluate the company’s long-term growth potential, financial performance, and business strategy rather than relying only on listing-day returns.
Brandman Retail IPO Subscription Status
The subscription data provides an overview of investor participation across different categories during the IPO bidding period. Strong subscription generally indicates favourable investor interest, although it should be considered alongside the company’s valuation and financial fundamentals.
Brandman Retail IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 27.84 Times |
| Non-Institutional Investors (NII) | 185.42 Times |
| Retail Individual Investors (RII) | 94.71 Times |
| Total Subscription | 98.36 Times |
The IPO witnessed robust participation from all investor categories. The Non-Institutional Investor (NII) category recorded the highest subscription, while Retail Individual Investors (RIIs) and Qualified Institutional Buyers (QIBs) also showed strong interest, resulting in healthy overall demand for the issue.
Brandman Retail IPO Review
Brandman Retail Limited operates in India’s organised retail sector and focuses on offering a wide range of consumer and lifestyle products through its retail business. The company has developed its operations by expanding its retail network, strengthening its sourcing capabilities, and improving customer service standards.
Its business model is supported by efficient inventory management, established supplier relationships, and an expanding customer base. The company continues to invest in operational improvements, product availability, and retail expansion to strengthen its market position.
The organised retail industry in India is expected to benefit from increasing consumer spending, rapid urbanisation, growing preference for branded products, and continuous expansion of modern retail formats. These long-term industry trends provide growth opportunities for companies operating in this sector.
At the same time, investors should carefully evaluate factors such as competitive intensity, inventory management, changing consumer preferences, economic conditions, and execution risks associated with business expansion before making an investment decision.
Brandman Retail IPO Strengths
Brandman Retail Limited has several business strengths that support its future growth strategy.
- Established presence in the organised retail sector.
- Diversified portfolio of consumer and lifestyle products.
- Expanding retail network across multiple locations.
- Strong sourcing and inventory management capabilities.
- Experienced management team with industry knowledge.
- Consistent focus on operational efficiency and customer satisfaction.
- Growing demand for organised retail in India.
- Scalable business model supported by future expansion plans.
Brandman Retail IPO Risk Factors
Like other retail businesses, Brandman Retail Limited is exposed to various business and industry-specific risks that investors should consider.
- The company operates in a highly competitive retail market.
- Changes in consumer spending patterns may affect sales performance.
- Inventory management plays a critical role in maintaining profitability.
- Dependence on suppliers may impact product availability.
- Expansion into new markets involves execution and operational risks.
- Economic slowdowns may influence consumer demand.
- Rising operating costs could affect profit margins.
- Regulatory changes may impact retail operations and business compliance.
Brandman Retail IPO Promoters
Brandman Retail Limited is promoted by experienced entrepreneurs who have played an important role in establishing and expanding the company’s retail business. The promoters have focused on strengthening the company’s presence in the organised retail sector by expanding its product offerings, improving operational efficiency, and building long-term customer relationships. Their strategic vision continues to support the company’s future growth and market expansion.
Brandman Retail IPO Promoters Details
| Promoter | Designation |
|---|---|
| Brijesh Kumar Gupta | Promoter & Managing Director |
| Manju Gupta | Promoter & Whole-Time Director |
Brandman Retail IPO Management Team
Brandman Retail Limited is managed by a team of professionals with expertise in retail operations, finance, marketing, supply chain management, and corporate governance. The management team is responsible for implementing business strategies, overseeing daily operations, strengthening customer engagement, and driving the company’s long-term growth objectives.
| Name | Designation |
|---|---|
| Brijesh Kumar Gupta | Managing Director |
| Manju Gupta | Whole-Time Director |
| Rahul Gupta | Executive Director |
| Amit Kumar | Chief Financial Officer |
| Priyanka Sharma | Company Secretary & Compliance Officer |
| Independent Directors | Independent Directors |
Brandman Retail IPO Registrar Details
Maashitla Securities Private Limited acted as the registrar to the public issue. The registrar was responsible for processing IPO applications, preparing the basis of allotment, facilitating the credit of equity shares to successful applicants’ demat accounts, processing refunds where applicable, and providing post-issue investor support.
| Particular | Details |
|---|---|
| Registrar Name | Maashitla Securities Private Limited |
| Website | www.maashitla.com |
| IPO Allotment Status | https://maashitla.com/allotment-status |
| Email ID | [email protected] |
| Contact Number | +91-33-4064 5400 |
Investors may contact the registrar for assistance relating to allotment status, refund requests, demat credit, and other IPO-related services.
Brandman Retail IPO Lead Manager Details
Gretex Corporate Services Limited served as the Book Running Lead Manager for the IPO. The lead manager coordinated the public issue, managed regulatory and documentation requirements, worked with market intermediaries, and supported the company throughout the IPO process.
| Particular | Details |
|---|---|
| Lead Manager | Gretex Corporate Services Limited |
| Website | www.gretexcorporate.com |
| Email ID | [email protected] |
| Contact Number | +91-22-6930 8500 |
The lead manager assisted in planning and executing the public issue while ensuring compliance with the applicable regulatory framework.
Brandman Retail Limited Contact Details
The following contact details may be used by investors, shareholders, customers, and other stakeholders for business and investor-related communication.
| Particular | Details |
|---|---|
| Company Name | Brandman Retail Limited |
| Registered Office | Kolkata, West Bengal, India |
| Website | www.brandmanretail.com |
| Email ID | [email protected] |
| Phone Number | As available on the company’s official website |
How to Check Brandman Retail IPO Allotment Status
Applicants could check the allotment status after the completion of the allotment process through either the registrar’s online portal or the NSE IPO platform.
Through Maashitla Securities Private Limited
- Visit the official IPO allotment portal of Maashitla Securities Private Limited.
- Select Brandman Retail IPO from the list of available public issues.
- Choose one of the available search options such as PAN, Application Number, or DP/Client ID.
- Enter the required information in the appropriate field.
- Submit the details to view the allotment status.
Through NSE
- Visit the official NSE IPO allotment portal.
- Select Brandman Retail IPO from the available IPO list.
- Enter your PAN number or application number.
- Complete the verification process if prompted.
- Click the search button to view your allotment status.
Frequently Asked Questions (FAQs)
What is Brandman Retail IPO?
Brandman Retail IPO is a Book Built SME public issue comprising a fresh issue of equity shares.
What was the price band of the Brandman Retail IPO?
The IPO was offered at a price band of ₹167 to ₹176 per equity share.
What was the total issue size of the Brandman Retail IPO?
The total issue size of the IPO was ₹86.09 crore.
When did the Brandman Retail IPO open and close?
The IPO opened on 4 February 2026 and closed on 6 February 2026.
On which stock exchange are Brandman Retail shares listed?
The company’s equity shares are listed on the NSE SME platform.
Who was the registrar for the Brandman Retail IPO?
Maashitla Securities Private Limited acted as the registrar to the issue.
Who was the lead manager for the Brandman Retail IPO?
Gretex Corporate Services Limited served as the Book Running Lead Manager.
What was the minimum lot size for the Brandman Retail IPO?
What was the minimum lot size for the Brandman Retail IPO?
What does Brandman Retail Limited do?
Brandman Retail Limited operates in the organised retail sector and is engaged in offering a range of consumer and lifestyle products through its retail business while focusing on customer experience, efficient inventory management, and business expansion.
What were the objectives of the Brandman Retail IPO?
The company intends to utilise the proceeds from the fresh issue to support business expansion, meet working capital requirements, strengthen operational infrastructure, and fulfil general corporate purposes.
