Defrail Technologies Shares List at ₹95 on BSE SME, Deliver 28% Premium Over IPO Price

Faridabad, January 19, 2026: Shares of Defrail Technologies Limited made a strong debut on the BSE SME platform on Monday, listing at ₹95 per share, marking a 28.38 percent premium over the IPO issue price of ₹74.
The stock opened at ₹95 and remained locked at the same level in early trade, with open, high, low, and VWAP all recorded at ₹95, reflecting strong buying interest at the time of listing.

Listing Day Performance Snapshot (As of 9:43 AM IST)​

The listing price was broadly in line with grey market indications ahead of debut, which had suggested a listing range of around ₹90–92.

Market Capitalisation and Trading Details​

At the listing price, Defrail Technologies commanded a full market capitalisation of ₹66.73 crore, while the free-float market capitalisation stood at ₹12.75 crore.
The stock was listed under the Equity segment and placed in the MT / T+1 settlement category.

Strong IPO Demand Set the Stage​

The robust listing follows an exceptionally strong IPO response. The ₹14 crore SME IPO was subscribed 98.19 times overall, driven by heavy participation across all investor categories.

• Retail Individual Investors subscribed over 101 times
• Non-Institutional Investors subscribed nearly 119 times
• Qualified Institutional Buyers subscribed over 71 times

The company had also raised ₹3.84 crore from anchor investors ahead of the public issue, providing early institutional support.

Business Overview​

Defrail Technologies operates in the manufacturing of engineered rubber components, including rubber hoses, profiles, moulded rubber parts, and assemblies. The company primarily serves the automotive, railways, and defence sectors, following a B2B business model.
It operates two manufacturing facilities in Faridabad, Haryana, and supplies to government and industrial customers, including Indian Railways, supported by its approved vendor credentials.

About the Company​

Defrail Technologies Limited is a BSE SME–listed company engaged in the production of engineered rubber parts and components for automotive, railway, and defence applications. Incorporated in 2023, the company consolidated its legacy businesses into the current structure in 2024 and continues to focus on application-specific design, customisation, and scalable manufacturing capabilities.