Comparison between Admach Systems IPO and Narmadesh Brass Industries IPO.
Admach Systems IPO is a SME Fixed Price IPO proposed to list at BSE SME while Narmadesh Brass Industries IPO is a SME Fixed Price proposed to list at BSE SME.
| Admach Systems IPO | Narmadesh Brass Industries IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Fixed Price |
| Listing At | BSE SME | BSE SME |
| Lead Managers | Aftertrade Broking Pvt.Ltd. | Aryaman Financial Services Ltd. |
| Registrar | Maashitla Securities Pvt.Ltd. | Kfin Technologies Ltd. |
| Market Maker | Aftertrade Broking Pvt.Ltd. | JSK Securities & Services Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Admach Systems IPO is up to ₹40.47 Cr whereas the issue size of the Narmadesh Brass Industries IPO is up to ₹42.52 Cr. The final issue price of Admach Systems IPO is ₹239.00 per share and of Narmadesh Brass Industries IPO is ₹515.00 per share.
| Admach Systems IPO | Narmadesh Brass Industries IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹227.00 per share | |
| Issue Price (Upper) | ₹239.00 per share | |
| Issue Price (Final) | ₹239.00 per share | ₹515.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 600 shares | 240 shares |
| Fresh Issue Size | 16,93,200 shares | 6,55,200 shares |
| Fresh Issue Size (Amount) | up to ₹40.47 Cr | up to ₹33.74 Cr |
| OFS Issue Size | 0 shares | 1,70,400 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹8.78 Cr |
| Issue Size Total | 16,93,200 shares | 8,25,600 shares |
| Issue Size Total (Amount) | up to ₹40.47 Cr | up to ₹42.52 Cr |
Admach Systems IPO opens on Dec 23, 2025, while Narmadesh Brass Industries IPO opens on Jan 12, 2026. The closing date of Admach Systems IPO and Narmadesh Brass Industries IPO is Dec 26, 2025, and Jan 16, 2026, respectively.
| Admach Systems IPO | Narmadesh Brass Industries IPO | |
|---|---|---|
| Anchor Bid Date | Dec 22, 2025 | |
| Issue Open | Dec 23, 2025 | Jan 12, 2026 |
| Issue Close | Dec 26, 2025 | Jan 16, 2026 |
| Basis Of Allotment (Tentative) | Dec 29, 2025 | Jan 19, 2026 |
| Initiation of Refunds (Tentative) | Dec 30, 2025 | Jan 20, 2026 |
| Credit of Share (Tentative) | Dec 30, 2025 | Jan 20, 2026 |
| Listing date (Tentative) | Dec 31, 2025 | Jan 21, 2026 |
| Anchor Lockin End date 1 | Jan 30, 2026 | |
| Anchor Lockin End date 2 | Mar 31, 2026 |
Admach Systems IPO P/E ratio is 19.56, as compared to Narmadesh Brass Industries IPO P/E ratio of 19.63.
| Admach Systems IPO | Narmadesh Brass Industries IPO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Financials | Company Financials (Restated)Admach Systems Ltd.'s revenue increased by 170% and profit after tax (PAT) rose by 82% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated)
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 71.87 | 99.92 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 52.95 | 71.84 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 19.56 | 19.63 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹161.87 Cr. | ₹159.69 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 43.94 | 49.99 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 44.00 | 23.29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.48 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹12.22 | ₹26.23 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 27.69 | 49.99 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Admach Systems IPO Retail Individual Investors (RII) are offered 7,21,200 shares while in Narmadesh Brass Industries IPO retail investors are offered 7,21,200 shares. Qualified Institutional Buyers (QIB) are offered 3,81,600 shares in Admach Systems IPO and 0 shares in Narmadesh Brass Industries IPO.
| Admach Systems IPO | Narmadesh Brass Industries IPO | |
|---|---|---|
| Anchor Investor Reservation | 2,10,600 shares | 0 shares |
| Market Maker Reservation | 89,400 shares | 45,600 shares |
| QIB | 3,81,600 shares | 0 shares |
| NII | 3,79,800 shares | 4,12,800 shares |
| RII | 7,21,200 shares | 4,12,800 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 16,93,200 shares | 8,25,600 shares |
Admach Systems IPO subscribed 4.13x in total, whereas Narmadesh Brass Industries IPO subscribed 1.25x.
| Admach Systems IPO | Narmadesh Brass Industries IPO | |
|---|---|---|
| QIB (times) | 1.55x | |
| NII (times) | 7.40x | 1.92x |
| Big NII (times) | 9.21x | |
| Small NII (times) | 3.76x | |
| RII (times) | 3.77x | 0.44x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 4.13x | 1.25x |
