Narmadesh Brass Industries IPO GMP – 2026 Review
Narmadesh Brass Industries IPO Review 2026: GMP, Financials, Risks, Listing Outlook & Investor Analysis
Narmadesh Brass Industries IPO – Quick Overview
- IPO Name: Narmadesh Brass Industries IPO
- Company: Narmadesh Brass Industries Limited
- IPO Price: ₹515 per share
- IPO Type: Fixed Price SME IPO
- IPO GMP Today: ₹0 (Flat)
- Listing Platform: BSE SME
- Sector: Brass Manufacturing
- Investment View: Long-term fundamentals okay, listing gains unlikely
If you are searching for “Narmadesh Brass Industries IPO GMP”, “Narmadesh Brass IPO Review”, or “Should I apply for Narmadesh Brass IPO”, this is the most detailed, data-backed guide available.
Why Narmadesh Brass Industries IPO Is in Focus in 2026
The Narmadesh Brass Industries IPO has attracted attention due to a rare combination of:
- High absolute issue price (₹515)
- Flat grey market premium
- Strong Jamnagar brass-industry advantage
- Debt reduction strategy
Unlike momentum-driven SME IPOs, Narmadesh Brass Industries Limited is positioned as a fundamentals-oriented, long-term business, making it more relevant for serious investors than quick flippers.
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Industry Context: Brass Manufacturing in India
India is a global hub for brass manufacturing, with Jamnagar, Gujarat, contributing a major share of:
- Brass valves and fittings
- Plumbing and sanitaryware components
- Agricultural sprayer parts
- Industrial brass components
Operating from Jamnagar gives Narmadesh Brass Industries Limited:
- Easy access to recycled brass scrap
- Lower logistics and raw-material costs
- Skilled, industry-specific labor
This ecosystem advantage plays a critical role in sustaining margins over the long term.
Narmadesh Brass Industries IPO Review: Heavy Metal or Heavy Risk?
Narmadesh Brass Industries calls Jamnagar, Gujarat home—the place everyone knows as the “Brass City of India.” The company’s stepping into the market with a Fixed Price issue, looking to raise funds for expansion and pay down some debt.At ₹515 per share, this is definitely one of the pricier SME IPOs out there. So, does the price make sense, or is it too steep for what’s on offer?Here’s a deep dive into the Narmadesh Brass Industries IPO—covering GMP, financials, and the risks you need to watch out for.
Narmadesh Brass Industries IPO: Key Details
This is a Fixed Price Issue listed on the BSE SME platform.
Narmadesh Brass Industries IPO GMP (Grey Market Premium)
As of early January 2026, the Narmadesh Brass Industries IPO GMP is currently Flat.
- Current GMP: ₹0 (No Premium)
- Expected Listing Price: ₹515 (At Par)
- Sentiment: Neutral/Cautious
The high absolute price of ₹515 and the fixed-price nature of the issue have kept grey-market participants on the sidelines.
Business Model: What Does Narmadesh Brass Do?
Narmadesh Brass Industries calls Jamnagar, Gujarat home—a city that’s pretty much the heart of India’s brass industry. They don’t just supply raw materials; they handle the whole process, start to finish.
They manufacture:
- Brass billets and rods
- Brass valves (ball valves, NRVs)
- Plumbing and sanitary fittings
- Agricultural sprayer components
Everything happens under one roof—melting, recycling brass scrap, casting, forging, and finishing. The company is backed by Sprayking Limited, which significantly strengthens its credibility in the brass ecosystem.
Financial Health: The Numbers Game
The financials show growth in revenue but some pressure on margins.
Revenue growth is consistent, while H1 FY26 shows strong margin recovery. Debt reduction remains a major positive.
Use of IPO Proceeds
The company plans to use IPO funds for:
- ₹14.5 crore – Loan repayment
- ₹10.2 crore – Working capital
- ₹3.29 crore – Machinery purchase
- ₹4.6 crore – General corporate purposes
This signals balance-sheet strengthening rather than aggressive expansion.
Narmadesh Brass IPO Review: Should You Apply?
✅ Bull Case (Pros)
- Strategic Jamnagar location
- Integrated manufacturing model
- Strong H1 FY26 EBITDA margins
- Improving debt-equity ratio
❌ Bear Case (Cons)
- Premium valuation (P/E ~19.6x)
- Flat Narmadesh Brass IPO GMP
- Promoter selling via OFS
- Negative operating cash flows in past
- High client concentration risk
Final Verdict
Narmadesh Brass Industries is a long-term play.Fundamentals are stable, margins are improving, and debt reduction is positive—but the high issue price and zero GMP make it unsuitable for listing-gain seekers.
Conservative investors may prefer to track post-listing performance.
FAQs
1. What is the issue price of Narmadesh Brass Industries IPO?
The issue price is ₹515 per share.
2. What is the current Narmadesh Brass Industries IPO GMP?
The GMP is ₹0, indicating a flat expected listing.
3. Is Narmadesh Brass IPO good for short-term listing gains?
No, the flat GMP suggests limited listing upside.
4. Is Narmadesh Brass Industries Limited profitable?
Yes, the company is profitable with improving margins in H1 FY26.
5. Who should consider investing in this IPO?
Long-term investors with high risk appetite and SME exposure understanding.
6. On which exchange will Narmadesh Brass IPO list?
The IPO will list on the BSE SME platform.
7. What is the minimum investment required?
₹2,47,200 (2 lots of 240 shares each).
Disclaimer
This content is strictly for educational purposes only and should not be considered investment or trading advice. Consult a registered financial advisor before trading.
