SME
IPO ·
BSE SME
Defrail Technologies Ltd
Listed
Incorporated in October 2023, Defrail Technologies Limited is engaged in the business of manufacturing rubber parts and components, including rubber hoses and assemblies, rubber profiles and beadings, and moulded rubber parts.
Issue details
Price band
₹70 – ₹74
Face value
₹10
Lot size
1,600 shares
Minimum investment
₹2,36,800
Issue size
₹13.77 Cr
Fresh issue
₹13.07 Cr
Offer for sale
—
Issue type
Book Built
Exchange
BSE SME
Key dates
Opens
9 Jan 2026
Closes
13 Jan 2026
UPI mandate cut-off
5:00 PM on 13 Jan 2026
Allotment
14 Jan 2026
Refunds
15 Jan 2026
Shares in demat
15 Jan 2026
Listing
19 Jan 2026
Subscription and listing
Subscription
73.74x
Listing price
₹95
Registrar
Maashitla Securities Pvt Ltd
Lead manager
NEXGEN Financial Solutions
Subscription by category
Total
73.74x
Total applications
23,727
Anchor investors
Amount raised
₹3.84 Cr
Bid date
8 Jan 2026
50% lock-in ends
15 Feb 2026
Rest lock-in ends
16 Apr 2026
Listing day
Issue price
₹74
Open
₹95.00
High
₹99.75
Low
₹90.25
Day close
₹90.25
Listing gain at open
+28.38%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
8,73,600
46.95%
Anchor Investor Shares Offered
5,18,400
27.86%
QIB (Ex. Anchor) Shares Offered
3,55,200
19.09%
NII Shares Offered
2,68,800
14.45%
bNII > ₹10L
1,77,600
9.54%
sNII < ₹10L
91,200
4.90%
Retail Shares Offered
6,24,000
33.53%
Market Maker Shares Offered
94,400
5.07%
Total Shares Offered
18,60,800
100.00%
Finaccle’s quick read
Avoid
FY25 income up 8542%, PAT up 3009%, ROE 11.44%, D/E 1.11, post-issue P/E 17.25x.
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
Incorporated in October 2023, Defrail Technologies Limited is engaged in the business of manufacturing rubber parts and components, including rubber hoses and assemblies, rubber profiles and beadings, and moulded rubber parts. Its products find applications across industries such as automotive, railways, and defence, with the company offering clients both standard products and customised solutions tailored to their operational requirements.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
11.44%
ROCE
13.28%
Debt / equity
1.11
PAT margin
3.85%
P/E post issue
17.25
Market cap
₹51.98 Cr
Use of IPO money
Purchase of equipment/machineries
₹7.96 Cr
Purchase and installation of Solar Panel
₹1.73 Cr
General Corporate Purposes
₹1.74 Cr
Issue expenses
₹2.34 Cr
Strengths
✓
Revenue up 8542% in FY25 to ₹62.22 Cr
✓
PAT up 3009% in FY25 to ₹3.42 Cr
Risks to watch
!
Thin PAT margin of 3.85%
!
SME platform: large lot size and thinner trading liquidity
!
Debt to equity of 1.11
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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.