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BSE SME Narmadesh Brass Industries bends under listing pressure

21-Jan-26 14:29 Hrs IST

The scrip was listed at Rs 495, a discount of 3.88% compared with the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 495 and a low of Rs 470.25. About 2,400 shares of the company changed hands at the counter.

Narmadesh Brass Industries' IPO was subscribed 1.23 times. The issue opened for bidding on 12 January 2026 and it closed on 16 January 2026. The price of the IPO was fixed at Rs 515 per share.

The IPO comprised a fresh issue of 700,800 equity shares and an offer for sale of 1,70,400 equity shares.

The company will utilize the net proceeds for repayment/ prepayment, in full or in part, of certain outstanding borrowings, Purchase of machinery and equipment, funding Working capital requirements and general corporate purpose.

Narmadesh Brass Industries is engaged in manufacturing diverse range of brass products catering to both domestic and international market. It also offers casting and forging services related to brass components at its manufacturing facility. As on 30 September 2025, the company has 81 labour.

The company recorded revenue from operations of Rs 34.17 crore and net profit of Rs 4.01 crore for the period ended 30 September 2025.

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