Defrail Technologies SME IPO listing: SME stock Defrail Technologies made a strong debut on Monday, January 19, defying weak stock market sentiment. Defrail Technologies' share price opened at ₹95 on the BSE, up 28.4% with respect to the issue price of ₹74. The stock extended its gains, rising to its upper price band of ₹99.75, up almost 35% from its issue price.
Meanwhile, equity benchmark Sensex fell by almost a per cent during the session.
The SME IPO's listing exceeded grey market expectations, as Defrail Technologies' GMP on Monday morning indicated the stock could have listed at a 23% premium over the issue price.
Defrail Technologies is engaged in the business of manufacturing rubber parts and components, including rubber hoses and assemblies, rubber profiles and beadings and rubber moulding parts.
As per the Red Herring Prospectus of the company's IPO, its products have diverse applications across different industries, including automotive, railways and defence.
Its revenue from operations for FY24 and FY25 were ₹0.72 crore and ₹62.21 crore, respectively. For the period ended September 30, 2025, its revenue was ₹39.08 crore. Profit for FY24 was ₹0.11 crore, which rose to ₹3.42 crore in FY25. For the period ended September 30, 2025, the company's profit was ₹1.51 crore, according to the RHP.
Defrail Technologies IPO details
The SME IPO was entirely a fresh issue of 18,60,800 shares to raise ₹13.77 crore.
Priced at ₹74 per share, the issue saw an overall subscription of 106 times, with the retail portion booked 101 times and the segment reserved for NIIs booked 161 times.
The issue opened for subscription on Friday, January 9, and concluded on Tuesday, January 13. Shares allotment was finalised on Wednesday, January 14.
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