Dhan Kirti is pleased to present an insightful overview of the upcoming Narmadesh Brass Industries Limited IPO. This public offering presents a compelling opportunity for investors to engage with a prominent manufacturer in the brass industry, renowned for its quality products and strategic operational advantages. The IPO is poised to strengthen the company’s market position and fuel its future growth initiatives.
NARMADESH BRASS INDUSTRIES IPO
IPO at a Glance: Key Details of the Offering
| IPO Period | 12th January 2026 – 14th January 2026 |
|---|---|
| Listing on | 19th January 2026 |
| Price Band | ₹515 per equity share |
| Lot Size & Minimum Investment | 240 shares (Minimum Investment: ₹123,600) |
| Total Issue Size | ₹44.87 Crores |
The Narmadesh Brass Industries IPO is a fixed-price issue, offering shares at ₹515 each. With a lot size of 240 shares, the minimum investment for retail investors stands at ₹123,600. This ₹44.87 Crores public issue opens on January 12, 2026, and is scheduled to list on January 19, 2026, presenting a new investment avenue in the manufacturing sector.
Important Dates for Investors: The Subscription Schedule
- Opening Date: 12th January 2026
- Closing Date: 14th January 2026
- UPI Payment Deadline: 14th January 2026 (5:00 PM)
- Allotment Announcement: 15th January 2026
- Refund Processing: 16th January 2026
- Demat Credit: 16th January 2026
- Stock Market Listing: 19th January 2026
- Mandate Validity End: 29th January 2026
- Anchor Investor Lock-in Release (50%): 14th February 2026
- Anchor Investor Lock-in Release (Remaining): 15th April 2026
*Dates may be revised as per official updates from the company or stock exchanges. Investors are advised to stay informed about any potential changes.
These timelines are essential for all prospective investors to note. From the IPO’s opening and closing dates to the crucial allotment and listing dates, staying abreast of the schedule ensures a smooth application process and informed investment decision-making. The lock-in periods for anchor investors are also provided for market transparency.
Understanding NARMABRAS: A Detailed Company Overview
Founded in August 2019 as a partnership firm and subsequently converted into a public limited company in October 2023, Narmadesh Brass Industries Limited is a Jamnagar-based leader in brass manufacturing. The company is promoted by M/s. Sprayking Limited, along with Mr. Hitesh Dudhagara, Mrs. Ronak Dudhagara, and Mr. Krish Dudhagara, bringing seasoned leadership to its operations.
NARMABRAS operates from an ISO 9001:2015 certified manufacturing facility in Jamnagar, Gujarat. It specializes in the production of brass billets, brass rods, and brass components, while also offering casting and forging job work services. Serving both domestic and international industrial clients, the company employs a manufacturing-led, volume-driven business model. Its operations benefit significantly from Jamnagar’s robust brass ecosystem, technical expertise, and ready access to raw materials, reinforcing its product quality and operational efficiency across its diverse product range.
Structure of the Public Offering and Capital Generation
| Total Funds Raised | ₹44.87 Crores |
|---|---|
| Fresh Issue Component | ₹36.09 Crores |
| Offer for Sale Component | ₹8.78 Crores |
The total IPO issue size is ₹44.87 Crores, strategically divided into a fresh issue and an Offer for Sale (OFS). The fresh issue component, amounting to ₹36.09 Crores, will directly infuse capital into the company for its growth initiatives and strategic objectives. The remaining ₹8.78 Crores constitutes the Offer for Sale, where existing shareholders are divesting a portion of their equity. It is important for investors to note that the proceeds from the OFS component will go to these selling shareholders and not directly to the company.
Strategic Allocation of Fresh Capital: Where the Funds Will Go
| Objective | Amount (INR Crores) | Allocation % |
|---|---|---|
| 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% |
The capital generated from the fresh issue component of the IPO is strategically allocated towards key objectives designed to bolster Narmadesh Brass Industries’ financial health and operational capabilities. A major portion, 40.18% (₹14.5 Crores), is designated for the repayment or prepayment of existing borrowings, which will significantly enhance the company’s financial stability by reducing its debt burden. Investments in new machinery and equipment (9.12% or ₹3.29 Crores) will boost manufacturing capabilities and efficiency. A substantial 28.27% (₹10.2 Crores) will support working capital requirements, ensuring smooth day-to-day operations and facilitating efficient inventory management. The remaining funds are allocated for issue expenses (9.68%) and general corporate purposes (12.75%), providing the company with flexibility for various strategic initiatives.
Core Competencies: Advantages That Drive NARMABRAS’ Growth
- **ISO 9001:2015 Certified Manufacturing Facility:** Operating an ISO 9001:2015 certified plant in the Jamnagar brass cluster ensures adherence to high-quality standards and efficient production processes, bolstering customer confidence and product reliability.
- **Experienced Promoters:** The company benefits from a seasoned team of promoters with extensive experience and deep industry knowledge in brass manufacturing, providing strategic direction and operational acumen.
- **Integrated Capabilities:** NARMABRAS boasts integrated capabilities across brass rods, billets, and components, allowing for greater control over the entire production cycle, ensuring quality consistency, and optimizing costs.
- **Established Customer Base:** A strong and diversified customer base spans both domestic and international markets, providing stable demand and diversified revenue streams, reducing reliance on any single market.
- **Strategic Location:** Its base in Jamnagar, a known brass hub, offers significant advantages, including immediate access to a skilled labor force, rich technical expertise, and a reliable supply of essential raw materials, optimizing logistics and production efficiency.
These inherent strengths collectively position Narmadesh Brass Industries for continued growth and resilience in a competitive market, leveraging its operational excellence and strategic advantages in the brass manufacturing landscape.
Navigating the Investment Landscape: Potential Risk Factors
- **Product Concentration:** A high dependence on a limited range of brass products could expose the company to demand fluctuations, technological shifts, or market specific challenges affecting those particular offerings.
- **Single-Location Manufacturing:** Reliance on a sole manufacturing facility increases operational concentration risk, making the company vulnerable to localized disruptions such as natural calamities, labor issues, or utility outages.
- **Customer Concentration:** Dependence on a small number of key customers for a significant share of revenue poses a risk, as the loss of a major client or a substantial reduction in their demand could adversely impact financial performance.
- **Commodity Price Volatility:** Exposure to fluctuating prices of raw materials like brass, copper, and zinc can directly impact production costs and profit margins, introducing an element of financial unpredictability.
- **Limited Public Operating History:** As a recently incorporated public company, NARMABRAS has a relatively short operating history under its current corporate structure, which might present challenges for investors in assessing its long-term performance and adaptability in a public market environment.
Prospective investors should carefully evaluate these risk factors, detailed comprehensively in the official prospectus, alongside the growth opportunities, to make an informed and balanced investment decision.
Live Subscription Status: Real-time Application Data
Subscription statistics based on the latest available information:
| Investor Category | Shares Reserved (Lakhs) | Shares Applied (Lakhs) | Subscription (Times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | – | – | – |
| Non-Institutional Investors (NII) | – | – | – |
| Retail Individual Investors (RII) | – | – | – |
| Total | – | – | – |
*Subscription data will be updated progressively once the IPO opens and applications commence. GMP figures are unofficial and may vary; exchange data is more reliable.
This section will provide real-time updates on the subscription status across different investor categories, including Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail Individual Investors (RII), offering insights into market sentiment once the Narmadesh Brass Industries IPO opens for subscription.
Seamless Application Process: How to Participate in the NARMABRAS IPO
Investors keen on exploring this investment opportunity can seamlessly apply through the official Dhan Kirti IPO platform. We encourage you to review the company’s Red Herring Prospectus (RHP) thoroughly and submit your application well before the IPO closing date to ensure your participation.
Investors can participate in this IPO via the official Dhan Kirti IPO platform before the subscription closes.
The Narmadesh Brass Industries IPO represents a chance to invest in a well-established brass manufacturing entity with a robust operational foundation and clear growth strategies. Dhan Kirti remains committed to providing comprehensive information and an efficient platform to empower your investment journey.
