Bookbuilding IPO | ₹86 Cr | Listed at NSE SME
Brandman Retail IPO is a book build issue of ₹86.09 crores. The issue is entirely a fresh issue of 0.49 crore shares of ₹86.09 crore.
Brandman Retail IPO bidding started from Feb 4, 2026 and ended on Feb 6, 2026. The allotment for Brandman Retail IPO was finalized on Feb 9, 2026. The shares got listed on NSE SME on Feb 11, 2026.
Brandman Retail IPO price band is set at ₹176 per share. The lot size for an application is 800. The minimum amount of investment required by an individual investor (retail) is ₹2,81,600 (1,600 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (2,400 shares), amounting to ₹4,22,400.
Gretex Corporate Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company areGretex Share Broking Pvt.Ltd., Shree Bahubali Stock Broking Ltd..
Refer to Brandman Retail IPO RHP for detailed Information.
IPO Open
Wed, Feb 4, 2026
IPO Close
Fri, Feb 6, 2026
Issue Price
₹176 per share
Market Cap (Pre-IPO)
₹324.85 Cr
| IPO Date | 4 to 6 Feb, 2026 |
| Listed on | Wed, Feb 11, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹167 to ₹176 |
| Issue Price | ₹176 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 48,91,200 shares (agg. up to ₹86 Cr) |
| Reserved for Market Maker | 2,44,800 shares Gretex Share Broking Pvt.Ltd. (agg. up to ₹4 Cr) Shree Bahubali Stock Broking Ltd. |
| Net Offered to Public | 46,46,400 shares (agg. up to ₹82 Cr) |
| Share Holding Pre Issue | 1,35,65,986 shares |
| Share Holding Post Issue | 1,84,57,186 shares |
| NSE Symbol | BRANDMAN |
| ISIN | INE0XUD01014 |
Brandman Retail IPO offers total 48,91,200 shares. Out of which 23,20,000 (47.43%) allocated to QIB, 9,28,000 (18.97%) allocated to QIB (Ex- Anchor), 6,99,200 (14.30%) allocated to NII 16,27,200 (33.27%) allocated to RII and 13,92,000 (28.46%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,44,800 (5.00%) |
| QIB Shares Offered | 23,20,000 (47.43%) |
| − Anchor Investor Shares Offered | 13,92,000 (28.46%) |
| − QIB (Ex. Anchor) Shares Offered | 9,28,000 (18.97%) |
| NII (HNI) Shares Offered | 6,99,200 (14.30%) |
| − bNII > ₹10L | 4,66,400 (9.54%) |
| − sNII < ₹10L | 2,32,800 (4.76%) |
| Retail Shares Offered | 16,27,200 (33.27%) |
| Total Shares Offered | 48,91,200 (100.00%) |
Investors can bid for a minimum of 1,600 shares and in multiples of 800 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 1,600 | ₹2,81,600 |
| Individual investors (Retail) (Max) | 2 | 1,600 | ₹2,81,600 |
| S-HNI (Min) | 3 | 2,400 | ₹4,22,400 |
| S-HNI (Max) | 7 | 5,600 | ₹9,85,600 |
| B-HNI (Min) | 8 | 6,400 | ₹11,26,400 |
Brandman Retail IPO raises ₹24.50 crore from anchor investors. Brandman Retail IPO Anchor bid date is February 3, 2026.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Feb 3, 2026 |
| Shares Offered | 13,92,000 |
| Anchor Portion (₹ Cr.) | 24.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Mar 10, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, May 9, 2026 |
Established in 2021, Brandman Retail Limited distributes international sports and lifestyle brands.
The company operates through four key pillars: distribution, licensing, retail, and e-commerce. It is committed to innovation, customer centricity, and sustainability.
The company operates Exclusive Brand Outlets (EBOs) in northern India, including cities like Ahmedabad, Ambala, Dehradun, New Delhi, Jalandhar, Bathinda, Gurugram, Lucknow, and Noida. Each store meets the License Grantee's standards and primarily represents the New Balance brand under a non-exclusive distribution agreement.
The company operates two MBOs called "Sneakrz" in Bhatinda and New Delhi and 11 EBOs.
The company holds non-exclusive distribution agreements to ensure a diverse, high-quality product range for customers.
They sell online through Flipkart, Ajio, and Tata Cliq, fulfilling monthly orders.
Competitive Strength:
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 101.31 | 84.73 | 40.49 |
| Total Income | 97.21 | 136.30 | 123.49 |
| Profit After Tax | 19.67 | 20.95 | 8.27 |
| EBITDA | 27.02 | 31.15 | 12.01 |
| NET Worth | 60.26 | 29.79 | 8.84 |
| Reserves and Surplus | 46.70 | 17.04 | 8.59 |
| Total Borrowing | 15.68 | 11.87 | 3.53 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding Capital Expenditure for expansion of our New Retail Network by launching 15 Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs) | 27.90 |
| 2 | Working Capital Requirements for New EBOs and MBOs | 11.78 |
| 3 | Working Capital Requirements for Existing EBOs and MBOs | 26.72 |
| 4 | General Corporate Expenses | 8.16 |
| Total | 74.57 |
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 43.69% | 108.47% |
| ROCE | 36.92% | 70.48% |
| Debt/Equity | 0.26 | 0.40 |
| RoNW | 32.64% | 70.33% |
| PAT Margin | 20.64% | 15.49% |
| EBITDA Margin | 28.35% | 23.02% |
| Price to Book Value | 7.53 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 15.45 | 14.21 |
| P/E (x) | 11.39 | 12.38 |
| Promoter Holding | 93.91% | 69.03% |
| Market Cap | ₹324.85 Cr. |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Book Running Lead Managers including Underwriting Fees | 5.62 |
| 2 | Market Making Fees | 0.18 |
| 3 | Fees payable to Regulators including Stock Exchange, CDPs | 0.08 |
| 4 | Fees payable to Registrar to Offer | 0.02 |
| 5 | Fees to Legal Counsel | 0.18 |
| 6 | Fees payable to Auditors, Consultants, Market Research Firms and other professional agencies | 0.15 |
| 7 | Marketing & Selling Expenses | 5.13 |
| 8 | Advertisement Expenses | 0.10 |
| 9 | Commission/processing fee for SCSBs, Payment to Sponsor Bank and Bankers to the Offer | 0.06 |
| 10 | Printing & Distribution Expenses | 0.00 |
| Total | 11.52 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹176.00 |
| Open | ₹183.00 |
| Low | ₹183.00 |
| High | ₹192.15 |
| Last Trade | ₹192.15 |
Lead Manager Reports
Brandman Retail IPO is a SME IPO of 48,91,200 equity shares of the face value of ₹10 aggregating up to ₹86 Crores. The issue is priced at ₹176 per share. The minimum order quantity is 800.
The IPO opens on Wed, Feb 4, 2026, and closes on Fri, Feb 6, 2026.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Brandman Retail IPO using UPI as a payment gateway. Zerodha customers can apply in Brandman Retail IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Brandman Retail IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Brandman Retail IPO opens on Wed, Feb 4, 2026 and closes on Fri, Feb 6, 2026.
Brandman Retail IPO lot size is 800, and the minimum amount required for application is ₹2,81,600, with 2 lots being the minimum application size.
You can apply in Brandman Retail IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Brandman Retail IPO will be done on Monday, February 9, 2026, and the allotted shares will be credited to your demat account by Tue, Feb 10, 2026. Check the Brandman Retail IPO allotment status.
The Brandman Retail IPO listing date is on Wed, Feb 11, 2026.
