New Delhi, 12 January (H.S.): Narmedesh Brass Industries, a brass manufacturing company, opened its ₹44.87 crore initial public offering (IPO) for public subscription on Monday. Bidding remains available until January 15, with share allotment scheduled for January 16 and crediting to demat accounts on January 19, ahead of listing on the BSE SME platform on January 20.
The IPO sets a fixed price of ₹515 per share, with a lot size of 240 shares. Retail investors must apply for a minimum of two lots, or 480 shares, requiring an investment of ₹2,47,200. The issue comprises 8,71,200 equity shares of ₹10 face value, including 6,55,200 fresh shares worth ₹34 crore and 1,70,400 shares offered for sale valued at ₹9 crore.
Retail investors receive 47.38% reservation, matched by the same portion for Non-Institutional Investors (NIIs), while market makers hold 5.24%. Aryaman Financial Services Limited serves as book-running lead manager, Kfin Technologies Limited as registrar, and J&K Securities and Services Private Limited as market maker.
Financials disclosed in the Draft Red Herring Prospectus (DRHP) filed with SEBI reveal fluctuations in performance. Net profit rose from ₹89 lakh in FY 2022-23 to ₹7.10 crore in FY 2023-24 before declining to ₹5.72 crore in FY 2024-25, with ₹4.01 crore earned in the first half of FY 2025-26 (April-September 2025).
Revenue showed steady growth, increasing from ₹60.09 crore in FY 2022-23 to ₹79.06 crore in FY 2023-24 and ₹88.05 crore in FY 2024-25, reaching ₹34.21 crore for April-September 2025. Debt levels escalated from ₹5.94 crore at the end of FY 2022-23 to ₹22.43 crore in FY 2023-24 and ₹24.73 crore in FY 2024-25, before easing to ₹19.21 crore by September 2025.
Reserves and surplus expanded from ₹6.97 crore in FY 2023-24 to ₹12.69 crore in FY 2024-25 and surged to ₹23.30 crore in the April-September 2025 period. EBITDA climbed from ₹2.13 crore in FY 2022-23 to ₹11.41 crore in FY 2023-24, dipped to ₹9.34 crore in FY 2024-25, and stood at ₹6.24 crore for the first half of FY 2025-26.
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Hindusthan Samachar / Jun Sarkar
