Brandman Retail Limited is engaged in the distribution and retail of international sports and lifestyle footwear, apparel, and accessories in India. The company operates an omni-channel business model built around four core pillars: distribution, licensing, retail, and e-commerce, enabling it to serve customers across physical stores and digital platforms.
The company has entered into non-exclusive distribution and licensing agreements with multiple international brands, allowing it to offer a diverse and premium product portfolio while reducing dependence on a single channel or geography. These agreements help Brandman Retail maintain flexibility in brand expansion and product assortment.
Brandman Retail operates Exclusive Brand Outlets (EBOs) across Northern India, including Ahmedabad, Ambala, Dehradun, New Delhi, Jalandhar, Bathinda, Gurugram, Lucknow, and Noida. These stores are operated in accordance with the respective license and brand standards and primarily retail products of New Balance under a non-exclusive distribution arrangement, as disclosed in the RHP.
In addition to EBOs, the company operates Multi-Brand Outlets (MBOs) under the brand name “Sneakrz”, with stores currently located in Bathinda and New Delhi. As of December 31, 2025, the company operated a total of 11 Exclusive Brand Outlets and 2 Multi-Brand Outlets.
The company also has a strong digital presence, selling products through leading e-commerce marketplaces such as Flipkart, AJIO, and Tata CLiQ, along with its own direct-to-consumer website. Online sales are supported through regular order fulfilment, contributing to consistent monthly volumes and broader customer reach.
By combining offline retail, wholesale distribution, e-commerce marketplaces, and direct-to-consumer channels, Brandman Retail aims to scale its operations, strengthen international brand partnerships, and deepen its footprint in India’s growing sports and lifestyle retail market.
Brandman Retail IPO – Details
| IPO Opening Date | 04 February 2026 |
| IPO Closing Date | 06 February 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 48,91,200 Shares Worth ₹86.09 Crore Fresh Issue: 48,91,200 Shares Worth ₹86.09 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹167 – ₹176 per share |
| Market Lot | 800 Shares |
| Min Order | 800 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | Bigshare Services Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Brandman Retail IPO – Date Schedule
| IPO Open Date | 04 February 2026 |
| IPO Close Date | 06 February 2026 |
| Basis of Allotment | 09 February 2026 |
| Initiation of Refund | 10 February 2026 |
| Credit of Shares to Demat | 10 February 2026 |
| IPO Listing Date | 11 February 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 06, 2026 |
Brandman Retail IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1600 | ₹2,81,600 |
| Retail (Max) | 2 | 1600 | ₹2,81,600 |
| S-HNI (Min) | 3 | 2400 | ₹4,22,400 |
| S-HNI (Max) | 7 | 5600 | ₹9,85,600 |
| B-HNI (Min) | 8 | 6400 | ₹11,26,400 |
Competitive Strength
- Experienced promoters and a professional team.
- Omni-channel Distribution network.
- Asset-light and Scalable Business Model.
- Strength comes from strategic locations across North India, ensuring strong market access.
- Diverse product portfolio and access to the global market.
- Strong Brand Synergy & Growth Potential.
- Growing Consumer Base & Strong Customer Loyalty.
Company Promoters
- Mr. Arun Malhotra
- Ms. Kavya Malhotra
- Ms. Kashika Malhotra.
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2024 | ₹123.49 Cr | ₹112.34 Cr | ₹8.27 Cr | ₹3.53 Cr |
| 31 March 2025 | ₹136.30 Cr | ₹107.97 Cr | ₹20.95 Cr | ₹11.87 Cr |
| 31 December 2025 | ₹97.21 Cr | ₹70.68 Cr | ₹19.67 Cr | ₹15.68 Cr |
Key Performance Indicator
| KPI | Values (Dec 31, 2025) |
|---|---|
| ROE | 43.69% |
| ROCE | 36.92% |
| Debt/Equity | 0.26 |
| RoNW | 32.64% |
| PAT Margin | 20.64% |
| EBITDA Margin | 28.35% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 15.45 | 14.21 |
| P/E (x) | 11.39 | 12.38 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding Capital Expenditure for the expansion of our New Retail Network by launching 15 Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs). | ₹23.40 |
| Working Capital Requirements for New EBOs and MBOs. | ₹11.78 |
| Working Capital Requirements for Existing EBOs and MBOs. | – |
| General corporate purposes. | – |
✅Strengths
- Distributes international sports & lifestyle brands (led by New Balance).
- Omni-channel presence: EBOs, MBOs (Sneakrz), e-commerce & own website.
- 11 EBOs + 2 MBOs across key North Indian cities.
- Experienced promoters with 20+ years in retail & brand distribution.
- Multiple revenue streams: B2C, B2B, exports, online.
⚠️Risks
- High dependence on New Balance for revenue.
- Non-exclusive brand agreements increase competition.
- All stores on lease → rental & renewal risk.
- Working-capital-intensive retail business.
- Highly competitive footwear & apparel market.
Brandman Retail IPO Promoter Holding
| Pre-Issue Share Holding | 93.91% |
| Post Issue Share Holding | – |
Brandman Retail IPO Prospectus
Company Contact Information
| Brandman Retail Ltd. DPT 718-719, 7th Floor DLF Prime Tower Okhla Industrial Area Phase-I, South Delhi, New Delhi, 110020 Phone: 011-46052323 Email: info@brandmanretail.com Website: https://brandmanretail.com/ |
Brandman Retail IPO Registrar
| Bigshare Services Pvt.Ltd. Phone: +91-22-6263 8200 Email: ipo@bigshareoline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Brandman Retail IPO Lead Manager(s)
| 1. Gretex Corporate Services Ltd. |
Brandman Retail IPO FAQ
| What is the Brandman Retail IPO? Brandman Retail IPO is an SME IPO. The issue is priced at ₹167 – ₹176 per equity share. The IPO is to be listed on NSE SME. |
| When will Brandman Retail IPO open? The IPO is to open on 04 February 2026 for QIB, NII, and Retail Investors. |
| What is Brandman Retail IPO Investors’ Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Brandman Retail IPO Size? Brandman Retail IPO size is ₹86.09 Crore. |
| What are the Brandman Retail IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 1600 Shares for ₹2,81,600, while the maximum bid is 1600 Shares for ₹2,81,600. |
| What is the Brandman Retail IPO Allotment Date? Brandman Retail IPO allotment date is 09 February 2026. |
| What is the Brandman Retail IPO Listing Date? Brandman Retail IPO listing date is 11 February 2026. The IPO is to be listed on the NSE SME. |
