Issue Details and Timeline
Gujarat based Narmadesh Brass Industries has announced that its ₹44.8 crore initial public offering will open for public subscription on the BSE SME platform on January 12. The IPO will remain open until January 15.The company has fixed the issue price at ₹515 per equity share. The shares are proposed to be listed on the BSE SME platform, with the tentative listing date set for January 20.
Structure of the Public Issue
The IPO comprises a fresh issue of up to 7 lakh equity shares along with an offer for sale of a little over 1.7 lakh shares. The combined issue size aggregates to approximately ₹44.87 crore.Utilisation of IPO Proceeds
The net proceeds from the public issue will be used for multiple business objectives, including repayment of existing debt, acquisition of machinery and equipment, funding working capital requirements, and meeting general corporate purposes.According to the company, a portion of the funds will be directed towards purchasing advanced machinery and supporting working capital needs. These investments are expected to improve manufacturing efficiency, expand production capacity, and enable the introduction of new product lines to address rising market demand.
Financial Performance Snapshot
On the financial front, Narmadesh Brass Industries reported revenue of ₹87.72 crore along with a profit after tax of ₹5.66 crore, reflecting its operational scale and profitability.Lead Manager
Aryaman Financial Services Ltd is acting as the sole book running lead manager for the IPO.The upcoming listing marks a key milestone for the company as it looks to strengthen its balance sheet and support future growth initiatives through capital market participation.
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