SME
IPO ·
NSE SME
Brandman Retail Ltd
Listed
Established in 2021, Brandman Retail Limited distributes international sports and lifestyle brands.
Issue details
Price band
₹167 – ₹176
Face value
₹10
Lot size
800 shares
Minimum investment
₹2,81,600
Issue size
₹86.09 Cr
Fresh issue
₹81.78 Cr
Offer for sale
—
Issue type
Book Built
Exchange
NSE SME
Key dates
Opens
4 Feb 2026
Closes
6 Feb 2026
UPI mandate cut-off
5:00 PM on 6 Feb 2026
Allotment
9 Feb 2026
Refunds
10 Feb 2026
Shares in demat
10 Feb 2026
Listing
11 Feb 2026
Subscription and listing
Subscription
80.10x
Listing price
₹183
Registrar
Bigshare Services Pvt Ltd
Lead manager
Gretex Corporate Services
Subscription by category
Total
80.10x
Total applications
1,21,547
Anchor investors
Amount raised
₹24.50 Cr
Bid date
3 Feb 2026
50% lock-in ends
10 Mar 2026
Rest lock-in ends
9 May 2026
Listing day
Issue price
₹176
Open
₹183.00
High
₹192.15
Low
₹183.00
Day close
₹192.15
Listing gain at open
+3.98%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
23,20,000
47.43%
Anchor Investor Shares Offered
13,92,000
28.46%
QIB (Ex. Anchor) Shares Offered
9,28,000
18.97%
NII Shares Offered
6,99,200
14.30%
bNII > ₹10L
4,66,400
9.54%
sNII < ₹10L
2,32,800
4.76%
Retail Shares Offered
16,27,200
33.27%
Market Maker Shares Offered
2,44,800
5.00%
Total Shares Offered
48,91,200
100.00%
Finaccle’s quick read
Apply
FY25 income up 10%, PAT up 153%, ROE 43.69%, D/E 0.26, post-issue P/E 12.38x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Established in 2021, Brandman Retail Limited distributes international sports and lifestyle brands. The company operates through four key pillars: distribution, licensing, retail, and e-commerce. It is committed to innovation, customer centricity, and sustainability. The company operates Exclusive Brand Outlets (EBOs) in northern India, including cities like Ahmedabad, Ambala, Dehradun, New Delhi, Jalandhar, Bathinda, Gurugram, Lucknow, and Noida. Each store meets the License Grantee's standards and primarily represents the New Balance brand under a non-exclusive distribution agreement.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
43.69%
ROCE
36.92%
Debt / equity
0.26
PAT margin
20.64%
P/E post issue
12.38
Market cap
₹324.85 Cr
Use of IPO money
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
Strengths
✓
PAT up 153% in FY25 to ₹20.95 Cr
✓
PAT margin of 20.64%
✓
ROE of 43.69% and ROCE of 36.92%
✓
Moderate leverage: debt to equity 0.26
Risks to watch
!
SME platform: large lot size and thinner trading liquidity
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.