Faridabad, January 9, 2026: The initial public offering of Defrail Technologies Limited (DEFRAIL) witnessed a measured response on its opening day, with the issue subscribed 0.74 times by the end of Day 1 bidding on Friday, January 9. The IPO, which opened today and will close on January 13, saw stronger participation from retail investors, while institutional categories remained largely on the sidelines on the first day.
Day 1 Subscription Snapshot (As of 5:00 PM)
| Category | Shares Reserved | Shares Bid | Subscription (Times) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 3,55,200 | - | 0.00 |
| Non-Institutional Investors (NII) | 3,63,200 | 2,35,200 | 0.65 |
| Retail Individual Investors (RII) | 6,24,000 | 7,61,600 | 1.22 |
| Total | 13,42,400 | 9,96,800 | 0.74 |
Retail Investors Lead Demand
The Retail Individual Investors (RII) segment emerged as the key driver of subscriptions, with bids for 7,61,600 shares against an allocation of 6,24,000 shares, translating into 1.22 times subscription.All retail bids on Day 1 were price bids, indicating active participation at the discovered price points within the band.
Non-Institutional Investors Show Selective Interest
The Non-Institutional Investor (NII) category recorded bids for 2,35,200 shares, achieving 0.65 times subscription overall.Within the NII segment:
- High-value NIIs (bids above ₹10 lakh) subscribed 1.20 times, with bids for 2,12,800 shares against 1,77,600 shares reserved.
- Lower-value NIIs (bids up to ₹10 lakh) saw limited traction, subscribing 0.25 times.
Institutional Participation Awaited
The Qualified Institutional Buyers (QIB) category remained unsubscribed on Day 1, a trend commonly observed in SME IPOs where institutional participation typically builds closer to the issue closing date.Price-Wise Demand at BSE
Price-level bidding on the first day showed demand spread across the price band, with bids clustering near the upper end.| Bid Price (₹) |
|---|
| 70.00 |
| 71.00 |
| 72.00 |
| 74.00 |
[th]
Quantity Bid
[/th][td]
9,96,800
[/td][td]
9,80,800
[/td][td]
9,77,600
[/td][td]
9,71,200
[/td]IPO Details at a Glance
| Particulars | Details |
|---|---|
| Issue Period | January 9 to January 13, 2026 |
| Price Band | ₹70 to ₹74 per share |
| Issue Size | ₹14 crore |
| Market Lot | 1,600 shares |
| Minimum Retail Application | 3,200 shares |
| Listing Date | January 16, 2026 |
| Exchange | BSE SME |
About the Company
Defrail Technologies Limited is engaged in the manufacturing of engineered rubber components, including rubber hoses and assemblies, rubber profiles and beadings, and rubber moulded parts. The company caters to automotive, railway, and defence sectors through a B2B business model and operates manufacturing facilities in Faridabad, Haryana.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.