Narmadesh Brass IPO day 1: Issue subscribed 49% so far. Here's GMP, offer size, price band and other details

Narmadesh Brass IPO: The initial public offering (IPO) of Narmadesh Brass has opened for subscription today, Monday, January 12. The SME IPO will remain available for bidding till Thursday, January 15.

Narmadesh Brass Industries operates a manufacturing unit spanning around 6,300 square metres at the Shree Ganesh Industrial Hub in Jamnagar, popularly referred to as India’s “Brass City.”

The company produces a wide range of products, including brass billets and rods, valves, plumbing and sanitary fittings, agricultural sprayer components, and customised machined parts, serving both domestic and export markets.

Narmadesh Brass IPO subscription status

The Narmadesh Brass IPO was subscribed over 0.49% on the first day of bidding, as of 3:10 pm.

The non-institutional investors category was subscribed 0.94 times. Meanwhile, the individual investors' portion received 0.05 times bids.

Narmadesh Brass IPO GMP today

The shares of Narmadesh Brass IPO are currently not commanding any premium in the grey market. This means that the GMP of Narmadesh Brass IPO is +0, as per investorgain.com.

At the prevailing GMP, Narmadesh Brass IPO listing could occur at par to the issue price.

Narmadesh Brass IPO details

Narmadesh Brass Industries IPO is a fixed-price offering worth ₹44.87 crore, comprising a fresh issue of 0.07 crore shares amounting to ₹36.09 crore and an offer for sale of 0.02 crore shares valued at ₹8.78 crore.

The IPO is priced at ₹515 per share, with an application lot size of 240 shares. Retail investors are required to invest a minimum of ₹2,47,200 for 480 shares.

The company plans to use the fresh funds from the maiden share sale for repayment or pre-payment, in full or in part, of certain outstanding borrowings of the company, purchase of machinery and equipment, funding working capital needs and general corporate purposes.

The allotment is likely to be finalised on January 16, 2026, while the shares are expected to list on the BSE SME platform on January 20, 2026.

Aryaman Financial Services Ltd. is acting as the book-running lead manager for the issue, Kfin Technologies Ltd. is the registrar, and JSK Securities & Services Pvt. Ltd. has been appointed as the market maker.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.