31 Mar 2024
Assets40.49
Total Income123.49
EBITDA12.01
Profit After Tax8.27
NET Worth8.84
Reserves and Surplus8.59
Total Borrowing3.53
At a glance
Updated 2026-09-09The shares listed at ₹178.50, a 1.42% move from the issue price. Brandman Retail is a SME IPO with an issue size of ₹86.09 crore, proposed for listing on NSE SME. The offer opens on 4th Feb 2026 and closes on 6th Feb 2026. The issue structure includes a fresh issue of ₹81.78 crore. The current listing schedule points to 11th Feb 2026.
Issue details
Listing atNSE SME
Issue typeBook Build Issue
Issue size₹86.09 Cr
Fresh issue₹81.78 Cr
Face value₹10
Price band₹167.00–₹176.00
Allotment9th Feb 2026
Listing11th Feb 2026
Listing performance
Full performance ↗Issue price₹176.00
Listing price₹178.50
Current price—
Listing gain1.42%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹17.00
GMP / upper price9.66%
Est. listing₹193.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens4th Feb 2026
Closes6th Feb 2026
Allotment9th Feb 2026
Refund10th Feb 2026
Demat10th Feb 2026
Listing11th Feb 2026
Subscription demand
Full bidding ↗QIB85.24×
sHNI111.86×
bHNI163.29×
NII / HNI163.29×
Retail114.48×
Total114.48×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 1600 | ₹281,600 |
Company
Use of proceeds
| Object | Amount |
|---|---|
| Funding Capital Expenditure for expansion of New Retail Network by launching 15 Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs) | ₹27.90 Cr |
| Working Capital Requirements for New EBOs and MBOs | ₹11.78 Cr |
| Working Capital Requirements for Existing EBOs and MBOs | ₹26.72 Cr |
| General Corporate Expenses | ₹8.16 Cr |
| Issue Expenses | ₹11.52 Cr |
| Total | ₹86.09 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue97.21₹ Cr · -28.7% vs prior year
EBITDA27.02₹ Cr · -13.3% vs prior year
PAT19.67₹ Cr · -6.1% vs prior year
Assets101.31₹ Cr · +19.6% vs prior year
Net Worth60.26₹ Cr · +102.3% vs prior year
Borrowing15.68₹ Cr · +32.1% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ crore31 Mar 2025
Assets84.73
Total Income136.30
EBITDA31.15
Profit After Tax20.95
NET Worth29.79
Reserves and Surplus17.04
Total Borrowing11.87
31 Dec 2025
Assets101.31
Total Income97.21
EBITDA27.02
Profit After Tax19.67
NET Worth60.26
Reserves and Surplus46.70
Total Borrowing15.68
KPIs
| KPI | Mar 31, 2025 | Dec 31, 2025 |
|---|---|---|
| ROE | 108.47% | 43.69% |
| ROCE | 70.48% | 36.92% |
| Debt / Equity | 0.40% | 0.26% |
| RoNW | 70.33% | 32.64% |
| PAT Margin | 15.49% | 20.64% |
| EBITDA Margin | 23.02% | 28.35% |
| Price to Book Value | 7.53 |
Valuation & shareholding
Pre-IPO EPS15.45
Post-IPO EPS14.21
Pre-IPO P/E11.39
Post-IPO P/E12.38
Promoter holding pre99.92%
Promoter holding post69.03%
Market cap₹324.85 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Brandman Retail IPO | — | 12.38 x | — | — |
| Vinit Mobile IPO | — | 14.31 x | — | — |
| Amba Auto IPO | — | 27.20 x | — | — |
| Striders Impex IPO | — | 25.07 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Funding Capital Expenditure for expansion of New Retail Network by launching 15 Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs) | ₹27.90 Cr |
| Working Capital Requirements for New EBOs and MBOs | ₹11.78 Cr |
| Working Capital Requirements for Existing EBOs and MBOs | ₹26.72 Cr |
| General Corporate Expenses | ₹8.16 Cr |
| Issue Expenses | ₹11.52 Cr |
| Total | ₹86.09 Cr |
Registrar & lead managers
Registrar
Bigshare Services Pvt.Ltd.Lead managers
- Gretex Corporate Services Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-09.
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