Narmadesh Brass Industries Limited is a modern brass manufacturing company headquartered in Jamnagar, Gujarat, a region globally recognized as India’s “Brass City” due to its dense concentration of brass component manufacturers.
The company operates a fully integrated manufacturing facility spread across 6,293 square meters, located at Plot Nos. 5, 8 & 9, Shree Ganesh Industrial Hub, Jamnagar. The strategic location provides access to skilled manpower, raw material suppliers, and an established brass manufacturing ecosystem.
Narmadesh Brass Industries manufactures a diversified range of brass products catering to both domestic and export markets, including:
- Brass billets and brass rods
- Brass valves, including ball valves and non-return valves (NRVs)
- Plumbing and sanitary fittings, including lead-free products
- Agricultural sprayer components and garden fittings
- Customized brass components manufactured through casting, forging, turning, CNC, and VMC machining
The manufacturing process is largely in-house, covering casting and forging operations within the same premises.
The company is certified with ISO 9001:2015 for its Quality Management System, demonstrating adherence to internationally accepted quality standards.
As of September 30, 2025, the company employed 81 contract labourers to support its manufacturing and operational activities.
Narmadesh Brass Industries IPO – Details
| IPO Opening Date | 12 January 2026 |
| IPO Closing Date | 15 January 2026 |
| Issue Type | Fixed Price IPO |
| Issue Size | Total Issue: 8,71,200 Shares Worth ₹44.87 Crore Fresh Issue: 7,00,800 Shares Worth ₹36.09 Crore Offer For Sale: 1,70,400 Shares Worth ₹8.78 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹515 per share |
| Market Lot | 240 Shares |
| Min Order | 240 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Kfin Technologies Ltd. |
| NII Shares Offered | 50% |
| Retail Shares Offered | 50% |
Narmadesh Brass Industries IPO – Date Schedule
| IPO Open Date | 12 January 2026 |
| IPO Close Date | 15 January 2026 |
| Basis of Allotment | 16 January 2026 |
| Initiation of Refund | 19 January 2026 |
| Credit of Shares to Demat | 19 January 2026 |
| IPO Listing Date | 20 January 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 15, 2026 |
Narmadesh Brass Industries IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 480 | ₹2,47,200 |
| Retail (Max) | 2 | 480 | ₹2,47,200 |
| S-HNI (Min) | 3 | 720 | ₹3,70,800 |
Competitive Strength
- A well-equipped, ISO-certified manufacturing facility located in the brass-rich hub of Jamnagar (often referred to as “Brass City”) ensures efficiency and supply chain advantages.
- Full process control—from raw brass billet casting to finished product dispatch—allows better quality assurance and responsiveness to client needs.
- Experienced promoters and management team, including leadership by Hitesh Pragajibhai Dudhagara and others who bring continuity from the prior partnership structure.
Company Promoters
- M/s. Sprayking Limited
- Mr. Hitesh Dudhagara
- Mrs. Ronak Dudhagara
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹60.09 Cr | ₹58.92 Cr | ₹0.89 Cr | ₹5.94 Cr |
| 31 March 2024 | ₹79.06 Cr | ₹69.38 Cr | ₹7.10 Cr | ₹22.43 Cr |
| 31 March 2025 | ₹88.05 Cr | ₹80.92 Cr | ₹5.72 Cr | ₹24.73 Cr |
| 30 November 2025 | ₹34.21 Cr | ₹29.37 Cr | ₹4.01 Cr | ₹19.21 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 49.99% |
| ROCE | 23.29% |
| RoNW | 49.99% |
| PAT Margin | 6.52% |
| EBITDA Margin | 10.64% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 26.23 | 25.87 |
| P/E (x) | 19.63 | 19.90 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Repayment/ prepayment, in full or in part, of certain outstanding borrowings. | ₹14.50 |
| Purchase of machinery and equipment. | ₹3.29 |
| Funding Working capital requirements. | ₹10.20 |
| General corporate purposes. | ₹4.60 |
✅Strengths
- In-house manufacturing: casting, forging, CNC & VMC machining.
- Diversified product range: billets, rods, valves, plumbing & agri parts.
- Customization-based B2B model supports repeat orders.
- Experienced promoters in brass manufacturing.
⚠️Risks
- Raw material price volatility may impact margins.
- Customer concentration risk.
- Working capital intensive business.
- Dependence on contract labour.
Narmadesh Brass Industries IPO Promoter Holding
| Pre-Issue Share Holding | 99.92% |
| Post Issue Share Holding | 71.84% |
Narmadesh Brass Industries IPO Prospectus
Company Contact Information
| Narmadesh Brass Industries Ltd. Plot No. 5, 8 & 9 Survey No. 433, Shree Ganesh Industrial Hub Changa Village Jamnagar, Gujarat, 361012 Phone: +91 028 95299401 Email: info@narmadeshbrass.com Website: https://www.narmadeshbrass.com/ |
Narmadesh Brass Industries IPO Registrar
| Kfin Technologies Ltd. Phone: 04067162222, 04079611000 Email: einward.ris@kfintech.com Website: https://ipostatus.kfintech.com/ |
Narmadesh Brass Industries IPO Lead Manager(s)
| 1. Aryaman Financial Services Ltd. |
Narmadesh Brass Industries IPO FAQ
| What is the Narmadesh Brass Industries IPO? Narmadesh Brass Industries IPO is an SME IPO. The issue is priced at ₹515 per equity share. The IPO is to be listed on BSE SME. |
| When will Narmadesh Brass Industries IPO open? The IPO is to open on 12 January 2026 for NII and Retail Investors. |
| What is Narmadesh Brass Industries IPO Investors’ Portion? The investors’ portion for NII – 50% and Retail – 50%. |
| What is the Narmadesh Brass Industries IPO Size? Narmadesh Brass Industries IPO size is ₹44.87 Crore. |
| What are the Narmadesh Brass Industries IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 480 Shares for ₹2,47,200, while the maximum bid is 480 Shares for ₹2,47,200. |
| What is the Narmadesh Brass Industries IPO Allotment Date? Narmadesh Brass Industries IPO allotment date is 16 January 2026. |
| What is the Narmadesh Brass Industries IPO Listing Date? Narmadesh Brass Industries IPO listing date is 20 January 2026. The IPO is to be listed on the BSE SME. |
