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The Narmadesh Brass Industries Ltd IPO is a fixed-price SME public issue from a leading brass manufacturing company based in Jamnagar, Gujarat — a city widely recognized as India’s “Brass City” due to its dense ecosystem of metal processing and fabrication enterprises. This IPO presents an opportunity for investors aiming to gain exposure to the non-ferrous metal manufacturing sector through a company with steady revenue growth and strong operational credentials. 

The IPO comprises 8,71,200 equity shares of ₹10 each at a fixed price of ₹515 per share, aggregating up to approximately ₹44.87 crore. It includes a fresh issue of 7,00,800 shares (₹36.09 crore) to support the company’s growth objectives and an offer-for-sale (OFS) of 1,70,400 shares (₹8.78 crore) by existing shareholders. A portion of 45,600 shares (₹2 crore) has been reserved under the Market Maker Reservation Portion to facilitate liquidity on listing. Post-issue, the total share capital of the company will expand, with promoter shareholding proportionately diluted. 

The public offer opens for subscription on 12 January 2026 and closes on 15 January 2026, with allotment expected by 16 January and a tentative listing on the BSE SME platform scheduled for 20 January 2026. Retail investors must apply in lots of 240 shares, with a minimum application of two lots (480 shares costing ₹2,47,200) and HNI investors applying for a minimum of three lots. 

Company Overview and Operations

Incorporated recently relative to its peers, Narmadesh Brass Industries has developed an integrated manufacturing facility spanning approximately 6,293 m² at Shree Ganesh Industrial Hub, Jamnagar. The facility is ISO 9001:2015 certified, reflecting the company’s adherence to global quality management standards. The company oversees the complete manufacturing process from casting and extrusion of brass rods to machining and finishing of finished components.

Narmadesh produces a diversified portfolio of brass products, including precision fittings, valves, electrical components and industrial hardware that serve both domestic wholesalers and export markets. Its B2B sales model focuses on supplying manufacturers and distributors operating in plumbing, electrical, industrial and related sectors. Situated within a major brass cluster, the company benefits from efficient access to raw materials, an established supplier base and skilled labour — advantages that underpin cost competitiveness and operational scalability. 

Financial Performance and Use of Proceeds

In the financial year ending March 2025, the company reported total income of ₹88.05 crore, reflecting year-on-year growth driven by strong order execution and expanded production volumes, though profit after tax was ₹5.67 crore, slightly down year-on-year owing to investment and scaling costs.

Net proceeds from the fresh issue will be utilised to repay outstanding borrowings, purchase additional machinery and equipment to enhance production capacity, fund working capital requirements, and cater to general corporate purposes. These strategic investments aim to improve operational efficiency and position the company for long-term growth in competitive markets. 

Investment Considerations

The Narmadesh Brass Industries IPO may appeal to investors seeking participation in India’s manufacturing growth story, especially within the metal fabrication and engineering space. Its embedded presence in Jamnagar’s brass cluster, ISO certification, diversified product range and planned capacity investments are key factors supporting future growth. As with all SME IPOs, investors should assess risk factors included in the prospectus and consider both market conditions and company fundamentals before investing.