Narmadesh Brass IPO was launched through the Fixed Price SME route by Narmadesh Brass Industries Limited. The public issue comprised both a fresh issue of equity shares and an Offer for Sale (OFS) by existing shareholders. Through the fresh issue, the company planned to raise capital for business growth and operational requirements, while the Offer for Sale enabled certain shareholders to partially reduce their holdings. After the completion of the IPO process, the company’s equity shares were listed on the BSE SME platform.
Narmadesh Brass Industries Limited is an Indian manufacturer of precision brass components and engineered brass products supplied to a wide range of industries. The company’s products are used in electrical equipment, plumbing systems, gas fittings, automotive components, engineering applications, industrial machinery, and various infrastructure projects. It serves both domestic customers and export markets by manufacturing products that meet industry specifications and customer requirements.
The company manages an integrated manufacturing process covering raw material procurement, precision machining, threading, finishing, quality inspection, testing, packaging, and dispatch. Its manufacturing facilities are equipped with modern machinery and quality control systems that support consistent production standards while ensuring timely delivery of customer orders.
Narmadesh Brass Industries continues to focus on expanding manufacturing capacity, improving production efficiency, strengthening product quality, and broadening its customer base. The company also invests in modern manufacturing technology and process improvements to enhance operational performance and support long-term business expansion.
India’s brass component manufacturing industry continues to benefit from increasing demand across the electrical, engineering, automotive, plumbing, industrial equipment, and export sectors. Growing investments in manufacturing, infrastructure development, industrial production, and engineering projects are expected to support long-term demand for precision brass products.
Since the IPO has already been completed and the company’s shares are listed on the stock exchange, investors should carefully evaluate the company’s financial performance, manufacturing capabilities, operational efficiency, customer diversification, valuation, and long-term business prospects before making any investment decision.
Narmadesh Brass IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Narmadesh Brass IPO |
| Company Name | Narmadesh Brass Industries Limited |
| IPO Type | Fixed Price Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Issue Price | ₹515 Per Share |
| Issue Size | ₹44.87 Crore |
| Fresh Issue | 1,70,400 Equity Shares |
| Offer for Sale | 7,00,800 Equity Shares |
| Total Issue Size | 8,71,200 Equity Shares (₹44.87 Crore) |
| IPO Open Date | 12 January 2026 |
| IPO Close Date | 15 January 2026 |
| Basis of Allotment | 16 January 2026 |
| Refund Initiation | 19 January 2026 |
| Shares Credited to Demat Account | 19 January 2026 |
| Listing Date | 20 January 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 240 Equity Shares |
| Registrar | KFin Technologies Limited |
| Book Running Lead Manager | Aryaman Financial Services Limited |
The public issue included both a fresh issue of equity shares and an Offer for Sale by existing shareholders. The fresh issue proceeds were proposed to support business expansion and general corporate requirements, while the Offer for Sale enabled eligible shareholders to partially monetise their investment without affecting the company’s business operations.
Narmadesh Brass IPO Dates
The key events relating to the Narmadesh Brass IPO are provided below.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 12 January 2026 |
| IPO Closing Date | 15 January 2026 |
| Basis of Allotment | 16 January 2026 |
| Refund Initiation | 19 January 2026 |
| Shares Credited to Demat Account | 19 January 2026 |
| Listing Date | 20 January 2026 |
Following the completion of the allotment process, successful applicants received the allotted equity shares in their demat accounts before trading commenced on the BSE SME platform. Applicants who did not receive an allotment were issued refunds according to the IPO schedule.
Narmadesh Brass IPO Reservation
The equity shares offered through the public issue were reserved among different categories of investors in accordance with the regulations applicable to Fixed Price SME public issues.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not Applicable |
| Non-Institutional Investors (NII) | 50% |
| Retail Individual Investors (RII) | 50% |
The final allocation under each investor category depended on the number of valid applications received during the subscription period and the applicable regulatory guidelines governing SME public issues.
Narmadesh Brass IPO Lot Size
Applications for the IPO were accepted only in the prescribed lot size announced before the issue opened for subscription.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 1 Lot (240 Shares) | ₹1,23,600 |
| Retail Maximum | 2 Lots (480 Shares) | ₹2,47,200 |
| HNI Minimum | 3 Lots (720 Shares) | ₹3,70,800 |
The investment values shown above are calculated using the fixed issue price of ₹515 per equity share. Investors were required to submit IPO applications in multiples of the prescribed lot size.
About Narmadesh Brass Industries Limited
Narmadesh Brass Industries Limited is an Indian manufacturing company engaged in the production of precision brass components and engineered brass products for domestic and international markets. The company manufactures a diverse range of brass products used across industries such as electrical equipment, plumbing, gas distribution, automotive, engineering, industrial machinery, and infrastructure. By focusing on precision manufacturing and consistent product quality, the company serves customers requiring reliable brass components for a variety of industrial applications.
The company operates an integrated manufacturing facility where the complete production process is carried out under controlled quality standards. Its operations include raw material procurement, precision machining, CNC turning, drilling, threading, finishing, surface treatment, quality inspection, packaging, and dispatch. This integrated manufacturing approach enables the company to maintain product consistency while meeting customer specifications and delivery schedules.
Over the years, Narmadesh Brass Industries Limited has strengthened its manufacturing capabilities by investing in advanced machinery, production technology, quality management systems, and skilled manpower. The company continues to focus on improving operational efficiency, expanding its customer base, and enhancing manufacturing capacity to support sustainable long-term growth.
Business Operations
Narmadesh Brass Industries Limited operates across multiple manufacturing segments within the precision brass products industry.
- Precision Brass Components – The company manufactures precision-engineered brass components for industrial and engineering applications.
- Electrical Brass Components – It produces brass terminals, connectors, inserts, electrical fittings, and other components used in electrical equipment and power distribution systems.
- Plumbing and Sanitary Fittings – The company manufactures brass fittings and accessories used in plumbing systems and water distribution applications.
- Gas Fittings – It supplies brass components designed for gas distribution systems and related industrial applications.
- Automotive Components – The company manufactures precision brass parts used by automotive component manufacturers and engineering companies.
- Custom Brass Products – It develops customised brass components according to customer drawings, technical specifications, and application requirements.
- CNC Machining Services – Advanced CNC machines are used to manufacture precision components with high dimensional accuracy and consistent quality.
- Quality Testing and Inspection – Every stage of production undergoes quality inspection to ensure compliance with customer specifications and applicable industry standards.
- Export Operations – The company supplies brass products to international customers across multiple export markets while maintaining quality and delivery standards.
- Customer Support Services – Technical assistance, order management, and timely delivery support help strengthen long-term relationships with domestic and overseas customers.
Industry Overview
India is one of the world’s leading manufacturers and exporters of brass components, supported by a well-developed engineering ecosystem, skilled workforce, and strong manufacturing infrastructure. Brass products are widely used across industries including electrical equipment, plumbing, automotive, engineering, gas distribution, telecommunications, construction, and industrial machinery.
The demand for precision brass components continues to increase due to growth in infrastructure development, industrial production, renewable energy projects, electrical equipment manufacturing, and export opportunities. Rising investments in manufacturing and engineering industries are expected to support sustained demand for high-quality brass products in both domestic and global markets.
The industry is also witnessing greater adoption of modern CNC machining technology, automation, quality management systems, and customised manufacturing solutions. Companies with advanced manufacturing capabilities, diversified product portfolios, and long-term customer relationships are well positioned to benefit from the continued expansion of India’s engineering and manufacturing sectors.
Business Strategy
Narmadesh Brass Industries Limited aims to strengthen its market position by expanding manufacturing capacity, improving production efficiency, and increasing its presence in domestic and export markets. The company continues to invest in advanced machinery, process improvement, product quality, and workforce development to enhance operational performance and support future growth.
The management also focuses on developing customised brass solutions, expanding relationships with industrial customers, improving manufacturing productivity, and maintaining strict quality standards throughout the production process. Continuous investment in technology and manufacturing infrastructure remains an important element of the company’s long-term growth strategy.
By combining precision engineering, modern manufacturing technology, quality-focused operations, and customer-oriented solutions, Narmadesh Brass Industries Limited seeks to strengthen its position in the brass manufacturing industry while achieving sustainable long-term business growth.
Narmadesh Brass IPO Financial Information
A company’s financial performance provides investors with valuable information about its revenue growth, profitability, operational efficiency, and financial position. Reviewing financial statements across multiple financial years helps assess the company’s ability to generate consistent earnings, strengthen its balance sheet, and support future expansion. Financial performance should always be evaluated alongside the company’s business model, industry outlook, and competitive position before making an investment decision.
Narmadesh Brass Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹138.42 Crore | ₹176.58 Crore | ₹221.94 Crore |
| Total Income | ₹139.21 Crore | ₹177.84 Crore | ₹223.18 Crore |
| EBITDA | ₹18.36 Crore | ₹24.84 Crore | ₹32.47 Crore |
| Profit Before Tax (PBT) | ₹12.08 Crore | ₹17.35 Crore | ₹23.46 Crore |
| Profit After Tax (PAT) | ₹8.94 Crore | ₹12.89 Crore | ₹17.41 Crore |
| Net Worth | ₹34.82 Crore | ₹47.53 Crore | ₹64.96 Crore |
| Total Borrowings | ₹18.94 Crore | ₹16.58 Crore | ₹14.21 Crore |
Narmadesh Brass Industries Limited has reported consistent financial growth during the last three financial years. The company recorded steady improvement in revenue and profitability while strengthening its net worth. Borrowings remained at manageable levels, reflecting disciplined financial management. Investors should evaluate these financial results together with the company’s manufacturing capabilities, customer base, operational efficiency, and long-term business strategy before making an investment decision.
Narmadesh Brass IPO Key Performance Indicators (KPIs)
Key financial ratios provide additional insights into the company’s profitability, operational efficiency, capital utilisation, and financial strength. These indicators help investors assess the company’s overall financial performance and valuation.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 26.80% |
| Return on Capital Employed (ROCE) | 31.47% |
| Return on Net Worth (RONW) | 26.80% |
| EBITDA Margin | 14.55% |
| PAT Margin | 7.80% |
| Debt-to-Equity Ratio | 0.22 |
| Earnings Per Share (EPS) | ₹20.54 |
| Net Asset Value (NAV) Per Share | ₹76.62 |
| Price to Earnings (P/E) | 25.07x |
The financial ratios indicate healthy profitability, efficient utilisation of shareholders’ capital, and a balanced financial position. Consistent earnings growth and controlled borrowings further strengthen the company’s financial profile. However, investors should analyse these indicators together with the company’s valuation, manufacturing capacity, customer diversification, and future growth prospects before making an investment decision.
Objects of the Narmadesh Brass IPO
The company proposed to utilise the net proceeds from the fresh issue for the following purposes:
- Funding capital expenditure for business expansion.
- Meeting working capital requirements.
- General corporate purposes.
The proceeds from the fresh issue are expected to strengthen the company’s manufacturing capabilities, improve liquidity, and support future business expansion. These initiatives are intended to enhance operational efficiency while enabling the company to meet increasing customer demand and pursue long-term growth opportunities.
Narmadesh Brass IPO Listing Performance
The listing performance indicates how the company’s shares performed on the stock exchange on the first day of trading after the IPO process was completed. While listing gains or discounts reflect the market’s initial response to the public issue, long-term investment returns depend on the company’s financial performance, manufacturing capabilities, operational efficiency, customer relationships, and future business growth.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 20 January 2026 |
| Issue Price | ₹515 Per Share |
| Listing Price | ₹618.00 Per Share |
| Listing Gain | ₹103.00 Per Share |
| Listing Gain (%) | 20.00% |
Narmadesh Brass Industries Limited made a strong debut on the BSE SME platform by listing at a premium over its issue price. The positive listing reflected healthy investor interest during the IPO. However, the company’s long-term market performance will depend on sustained financial growth, manufacturing efficiency, customer expansion, and its ability to capitalise on opportunities in the precision brass components industry.
Narmadesh Brass IPO Subscription Status
The subscription figures show the level of investor participation received during the IPO bidding period. Although higher subscription levels generally indicate favourable market sentiment, investors should also consider the company’s valuation, financial performance, operational capabilities, and long-term growth prospects before making an investment decision.
Narmadesh Brass IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | Not Applicable |
| Non-Institutional Investors (NII) | 71.84 Times |
| Retail Individual Investors (RII) | 54.29 Times |
| Total Subscription | 63.12 Times |
The IPO attracted healthy demand from both Retail and Non-Institutional Investors. The Non-Institutional Investor category recorded stronger participation, while the Retail category also witnessed robust interest. The overall subscription reflected encouraging investor confidence in the public issue.
Narmadesh Brass IPO Review
Narmadesh Brass Industries Limited operates in the precision brass manufacturing industry by producing a wide range of brass components for electrical, plumbing, engineering, automotive, gas fitting, and industrial applications. The company serves customers in domestic as well as international markets by manufacturing products that meet technical specifications and quality standards.
Its integrated manufacturing operations include raw material procurement, CNC machining, precision manufacturing, quality inspection, finishing, packaging, and dispatch. Continuous investment in production technology and quality management systems enables the company to maintain product consistency while improving manufacturing efficiency.
From a financial perspective, the company has reported consistent growth in revenue, profitability, and net worth over recent financial years. The proposed utilisation of fresh issue proceeds towards business expansion and working capital is expected to strengthen manufacturing capabilities and improve operational flexibility.
However, investors should also consider factors such as fluctuations in brass and copper prices, dependence on industrial demand, export market conditions, competition within the precision engineering industry, and customer concentration before making an investment decision.
Overall, Narmadesh Brass Industries Limited operates in an industry supported by industrial growth, infrastructure development, increasing engineering activity, and expanding export opportunities. Investors should carefully evaluate the company’s financial performance, manufacturing capabilities, valuation, and long-term business prospects before considering an investment.
Narmadesh Brass IPO Strengths
Narmadesh Brass Industries Limited has developed its business through precision manufacturing, quality-focused operations, and diversified industrial applications.
- Experienced manufacturer of precision brass components.
- Diversified product portfolio serving multiple industries.
- Modern manufacturing facilities with advanced machining capabilities.
- Consistent growth in revenue and profitability over recent financial years.
- Presence in both domestic and export markets.
- Benefits from increasing demand across engineering, electrical, and infrastructure sectors.
Narmadesh Brass IPO Risk Factors
Like other manufacturers operating in the precision brass industry, Narmadesh Brass Industries Limited is exposed to several operational and industry-related risks that investors should evaluate carefully.
- Fluctuations in brass, copper, and other raw material prices may impact operating margins.
- Dependence on industrial production and infrastructure spending could influence future demand.
- Intense competition within the precision engineering and brass manufacturing industry may affect profitability.
- Changes in export demand or international trade conditions could impact overseas sales.
- Customer concentration may affect revenue stability if significant customers reduce orders.
- Economic slowdowns or reduced manufacturing activity may adversely affect business performance.
Narmadesh Brass IPO Promoters
Narmadesh Brass Industries Limited is promoted by experienced entrepreneurs with expertise in brass manufacturing, engineering, production management, and business development. The promoters have contributed significantly to expanding the company’s manufacturing capabilities, strengthening quality standards, and building long-term relationships with domestic and international customers. Their focus remains on sustainable growth, operational excellence, and continuous product development.
Narmadesh Brass IPO Promoters Details
| Promoter | Designation |
|---|---|
| Ketan Savjibhai Kataria | Promoter & Managing Director |
| Savjibhai Kataria | Promoter |
Narmadesh Brass IPO Management Team
The company is managed by professionals with experience in manufacturing, finance, operations, engineering, quality assurance, and corporate compliance. The management team focuses on improving production efficiency, expanding customer relationships, maintaining quality standards, and supporting long-term business growth.
| Name | Designation |
|---|---|
| Ketan Savjibhai Kataria | Managing Director |
| Prashant Patel | Chief Financial Officer |
| Bhavika Patel | Company Secretary & Compliance Officer |
Narmadesh Brass IPO Registrar Details
The registrar managed the IPO application process, finalised the basis of allotment, credited shares to successful applicants, initiated refunds where applicable, and handled investor-related services during the public issue.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Website | https://kosmic.kfintech.com |
| IPO Allotment Status | https://ris.kfintech.com/ipostatus |
| Email ID | [email protected] |
| Contact Number | +91-40-6716 2222 |
Narmadesh Brass IPO Lead Manager Details
The Book Running Lead Manager coordinated the IPO process, ensured regulatory compliance, managed issue-related activities, and assisted the company throughout the public offering and listing process.
| Particular | Details |
|---|---|
| Lead Manager | Aryaman Financial Services Limited |
| Website | https://www.afsl.co.in |
| Email ID | [email protected] |
| Contact Number | +91-22-4033 9000 |
Narmadesh Brass Industries Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Narmadesh Brass Industries Limited |
| Registered Office | Jamnagar, Gujarat, India |
| Website | https://www.narmadeshbrass.com |
| Email ID | [email protected] |
How to Check Narmadesh Brass IPO Allotment Status
Investors could check the IPO allotment status after the basis of allotment was finalised through the registrar’s website or the BSE IPO portal.
Through KFin Technologies Limited
- Visit the official IPO allotment portal of KFin Technologies Limited.
- Select Narmadesh Brass IPO from the list of available IPOs.
- Choose any one of the available search options such as Application Number, PAN, or DP/Client ID.
- Enter the required details in the respective field.
- Click on Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Equity as the issue type.
- Choose Narmadesh Brass IPO from the company list.
- Enter your PAN Number or Application Number.
- Complete the verification process.
- Click on Search to check your allotment status.
Frequently Asked Questions (FAQs)
What is the Narmadesh Brass IPO?
Narmadesh Brass IPO was a Fixed Price SME public issue comprising a fresh issue of equity shares and an Offer for Sale (OFS).
What was the issue price of the Narmadesh Brass IPO?
The IPO was offered at a fixed price of ₹515 per equity share.
What was the issue size of the Narmadesh Brass IPO?
The total issue size of the IPO was ₹44.87 Crore.
When did the Narmadesh Brass IPO open and close?
The IPO opened for subscription on 12 January 2026 and closed on 15 January 2026.
On which stock exchange are Narmadesh Brass shares listed?
The company’s equity shares are listed on the BSE SME platform.
Who was the registrar for the Narmadesh Brass IPO?
KFin Technologies Limited acted as the registrar to the issue.
Who was the Book Running Lead Manager for the Narmadesh Brass IPO?
The IPO was managed by Aryaman Financial Services Limited as the Book Running Lead Manager.
What was the minimum lot size for the Narmadesh Brass IPO?
The minimum application size was 1 lot comprising 240 equity shares.
What does Narmadesh Brass Industries Limited do?
The company manufactures precision brass components and engineered brass products used in electrical, plumbing, automotive, engineering, industrial, gas fitting, and infrastructure applications.
What were the objectives of the Narmadesh Brass IPO?
The company proposed to utilise the proceeds from the fresh issue for business expansion, meeting working capital requirements, and general corporate purposes.
