Brandman Retail SME IPO listing: Shares hit upper circuit after a positive debut; details here

Brandman Retail SME IPO listing: Brandman Retail share price jumped to hit its upper circuit after debuting with a modest gain. Brandman Retail share price opened at ₹183 against the IPO price of ₹176. The SME stock rose further to hit its upper price band of ₹192.15.

The stock's listing was below the grey market expectations. The latest grey market premium (GMP) of Brandman Retail was ₹20.

Brandman Retail distributes international sports and lifestyle brands. It operates several Exclusive Brand Outlets across several cities in North India.

"Our sales are carried out through multiple channels, including exclusive brand outlets, operated under specific brand arrangements, multi-brand outlets under our trademark Sneakrz, e-commerce marketplaces and our own website," according to the company's issue prospectus.

Offline sales contribute a major share of the company’s domestic sales, with Delhi as the largest contributor, followed by Haryana, Uttar Pradesh and Gujarat in FY25. In FY25, sales from its exclusive brand outlets and multi-brand outlet stores accounted for 21.26% of its total revenue from operations.

The company's income has seen an increase to ₹136 crore in FY25 from ₹123 crore a year ago, while profit has more than doubled during this period to ₹21 crore from ₹8 crore.

Brandman Retail SME IPO details

Brandman Retail IPO was a book build issue of a fresh issue of 48,91,200 shares.

Priced at ₹176 per share, the issue was aimed at raising ₹86.09 crore.

The SME IPO opened for public subscription on Wednesday, February 4, and concluded on Friday, February 6. It saw a strong overall subscription of more than 100 times. The NII segment was subscribed to more than 200 times. Share allotment was finalised on Monday, February 9.

Gretex Corporate Services was the book-running lead manager, and Bigshare Services was the registrar of the issue.

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