Brandman Retail Ltd IPO — GMP, Details & Subscription

IPO Details

Open Date

04 Feb 2026

Close Date

06 Feb 2026

Allotment

09 Feb 2026

Listing Date

11 Feb 2026

Exchange

NSE SME

Price Band

₹176

Listing Price

See chart

Allotment Status

Check Now →

Price Band

₹176

Per share

Face Value

₹10 per share

Lot Size

800 Shares

per lot

Issue Size

48,91,200 shares (agg. up to ₹86 Cr)

Total offering

Issue Type

Bookbuilding IPO

Min Investment

₹140,800

1 lot

Pre-IPO Holding

1,35,65,986 shares

Promoters

Post-IPO Holding

1,84,57,186 shares

Promoters

P/E (Pre)

11.39x

P/E (Post)

12.38x

EPS (Pre)

₹15.45

EPS (Post)

₹14.21

UPI Deadline

5:00 PM on 06 Feb 2026

Mandate

GMP

+₹27

+15.34% est.

Anchor AllotmentTue, 03 Feb 2026

Basis of AllotmentMon, 09 Feb 2026

Refund InitiationTue, 10 Feb 2026

Demat CreditTue, 10 Feb 2026

Listing DayWed, 11 Feb 2026

UPI Mandate Deadline5:00 PM on 06 Feb 2026

Sale TypeFresh Capital

Net Offer to Public46,46,400 shares (agg. up to ₹82 Cr)

Market Maker Quota2,44,800 shares (agg. up to ₹4 Cr)

QIB Quota50% of Net Issue

HNI / NII Quota15% of Net Issue

Retail Quota35% of Net Issue

Check AllotmentClick here →

Subscription Rate Final

Brandman Retail Ltd IPO subscribed 1.00 times overall. Retail: 1.00x. QIB: 1.00x. NII: 1.00x. By 06 Feb 2026.

QIB

1.00x

Over

NII/HNI

1.00x

Over

Retail

1.00x

Over

Total

1.00x

Over

Category	Subscription	Shares Offered	% of Total	Amount (₹Cr)
Market Maker	Awaited	244,800	—	₹4.31
QIB	Over 1.00x	—	—	—
NII / HNI	Over 1.00x	—	—	—
Retail	Over 1.00x	—	—	—
Total	1.00x	4,891,200	100%	₹86.09

IPO Shares Offered

Brandman Retail Ltd IPO total issue size: ₹86.09 Cr.

Category	Shares Offered	Amount (₹Cr)	Size (%)
Market Maker	244,800	₹4.31	5.00%
Total	4,891,200	₹86.09	100.00%

* Based on upper price band ₹176 per share

Lot Size & Investment

Lot Size

800

Shares per Lot

Issue Price

₹176.00

Upper Band

Min Investment

₹140,800

1 Lot

Application	Lots	Shares	Amount
Retail (Min — 2 Lots)	2	1,600	₹281,600
Retail (Max — 13 Lots)	13	10,400	₹1,830,400
S-HNI (Min — 14 Lots)	14	11,200	₹1,971,200
B-HNI (Min — 68 Lots)	68	54,400	₹9,574,400

* Issue Price ₹176 × Lot Size 800 shares

IPO Schedule

Anchor

03 Feb 2026

✓ Done

IPO Open

04 Feb 2026

✓ Done

IPO Close

06 Feb 2026

✓ Done

Allotment

09 Feb 2026

✓ Done

Refunds

10 Feb 2026

✓ Done

Demat Credit

10 Feb 2026

✓ Done

Listing Day

11 Feb 2026

✓ Done

₹176.00

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Issue ₹176.00 GMP: +₹27 Live Price

About Brandman Retail Ltd

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:Experienced promoters and professional team.Omni-channel Distribution network.Asset light and Scalable Business Model.Strength comes from strategic locations across North India, ensuring strong market access.Diverse product portfolio and access to global market.Strong Brand Synergy & Growth Potential.Growing Consumer Base & Strong Customer Loyalty.

Objects of the Issue

Funding Capital Expenditure for expansion of our New Retail Network by launching 15 Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs)

Working Capital Requirements for New EBOs and MBOs

Working Capital Requirements for Existing EBOs and MBOs

General Corporate Expenses

Brandman Retail Ltd Financials (Amount in Rs Cr)

Revenue from Operations

₹123.5

31 Mar 2024

₹136.3

31 Mar 2025

₹97.2

31 Dec 2025

Profit After Tax (PAT)

₹8.3

31 Mar 2024

₹21.0

31 Mar 2025

₹19.7

31 Dec 2025

Particulars	31 Dec 2025	31 Mar 2025	31 Mar 2024
Revenue from Operations	97.21	136.30	123.49
EBITDA	27.02	31.15	12.01
Profit After Tax (PAT)	19.67	20.95	8.27
Net Worth	60.26	29.79	8.84
Total Assets	101.31	84.73	40.49
Reserves & Surplus	46.70	17.04	8.59
Borrowings	15.68	11.87	3.53
EBITDA Margin (%)	28.35%	—	—
PAT Margin (%)	20.64%	—	—

RoE

43.69%

RoCE

36.92%

RoNW

32.64%

PAT Margin

20.64%

EBITDA Margin

28.35%

Debt/Equity

0.26

Issue Structure & Shareholding

Total Shares Offered48,91,200 (100.00%)

Net Offer to Public46,46,400 shares (agg. up to ₹82 Cr)

Reserved for Market Maker2,44,800 shares (agg. up to ₹4 Cr)

Pre-Issue Promoter Holding1,35,65,986 shares

Post-Issue Promoter Holding1,84,57,186 shares

P/BV RatioN/A

RoE43.69%

RoCE36.92%

Debt / Equity0.26

Script CodeN/A

Registrar & Lead Managers

IPO Registrar

Bigshare Services Pvt.Ltd

+91-22-6263 8200

ipo@bigshareoline.com

https://ipo.bigshareonline.com/IPO_Status.html

Check Allotment

Book Running Lead Managers

Gretex Corporate Services Ltd

GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.

IPO Subscription FAQs

How much Brandman Retail Ltd IPO subscribed? ▲

Brandman Retail Ltd IPO is subscribed 1.00 times by Feb 06, 2026. Retail: 1.00x. QIB: 1.00x. NII: 1.00x.

Investor Category	Subscription
Qualified Institutional (QIB)	1.00x
Non Institutional (NII/HNI)	1.00x
Retail Individual	1.00x
Total Subscription	1.00x

What is Brandman Retail Ltd IPO retail subscription status? ▼

The Brandman Retail Ltd IPO retail category is subscribed 1.00 times as of 06 Feb 2026. The retail portion is oversubscribed.

How to subscribe Brandman Retail Ltd IPO? ▼

Subscribe via your broker app using ASBA or UPI. Opens 04 Feb 2026 and closes 06 Feb 2026. Min investment: ₹140,800 (1 lot = 800 shares). UPI mandate: 5:00 PM on 06 Feb 2026.

How many times Brandman Retail Ltd IPO subscribed? ▼

The Brandman Retail Ltd IPO subscribed 1.00x overall. QIB: 1.00x, NII: 1.00x, Retail: 1.00x. Applications: from NSE/BSE.

How to check Brandman Retail Ltd IPO allotment? ▼

Check allotment on the registrar website (Bigshare Services Pvt.Ltd) at https://ipo.bigshareonline.com/IPO_Status.html. Enter your PAN, application number or DP/Client ID. Allotment date: 09 Feb 2026. Refunds: on 10 Feb 2026.

When Brandman Retail Ltd IPO will be listed? ▼

The Brandman Retail Ltd IPO listing date is 11 Feb 2026, Wednesday. Listed on: NSE SME. Issue price: ₹176. Estimated listing: ₹203. GMP: +₹27.

When Brandman Retail Ltd IPO close? ▼

The Brandman Retail Ltd IPO closes on 06 Feb 2026, Friday. UPI mandate: 5:00 PM on 06 Feb 2026. Allotment: 09 Feb 2026. Listing: 11 Feb 2026.

Quick Actions

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Live Price LIVE

Last Price₹176.00

Change—

Issue Price₹176.00

vs Issue—

Quick Summary

StatusListed

Issue Price₹176

Face Value₹10

Lot Size800 Sh

Min. Amount₹140,800

GMP+₹27

Est. Listing₹203

Subscribed1.00x

Open Date04 Feb 2026

Close Date06 Feb 2026

Allotment09 Feb 2026

Listing Date11 Feb 2026

ExchangeNSE SME

UPI Deadline5:00 PM on 06 Feb 2026