Brandman Retail IPO

Listed SME Retail
Open Feb 04
Close Feb 06
Allotment Feb 09
Refund Feb 10
Listing Feb 11

Market Sentiment

Grey Market Premium What is GMP?
+Rs 17
+9.7%
Est. Listing: Rs 193
Updated: Feb 12, 2026 12:00 am
View Full GMP History →
Subscription Status
QIB
85.24x
bNII (>10L)
249.14x
sNII (2-10L)
111.73x
Retail
93.12x
Total
114.55x
Updated: Mar 02, 2026 11:29 pm IST
Analysis Score 68 / 100
Data: 80%
GMP Score 60
Subscription Score 75
Financial Health 71

Market Lot Size

Category Lots Shares Amount (₹)
Retail Minimum 2 1,600 ₹2,81,600
Retail Maximum 2 1,600 ₹2,81,600
S-HNI Minimum 3 2,400 ₹4,22,400
S-HNI Maximum 7 5,600 ₹9,85,600
B-HNI Minimum 8 6,400 ₹11,26,400

IPO Details

Issue Price₹167-176 per equity share
Face Value₹10 Per Equity Share
Lot Size 800 shares (Min ₹1,40,800)
Total Issue Size ₹86.09 crore
Fresh Share₹86.09 crore
Issue TypeBook build Issue
Lead ManagerGretex Corporate Services Ltd.
RegistrarBigshare Services Pvt. Ltd.
Listing atNSE
NSE SymbolBRANDMAN
Listing Price₹183.00
Listing Gain+3.98%

IPO Reservation

Category Shares Offered
QIB9,28,000
NII (HNI)6,99,200
bNII > ₹10L4,66,134
sNII < ₹10L2,33,066
Retail16,27,200
Anchor13,92,000

Financial Analysis

Financial Data
ROE
108.47%
ROCE
75.08%
Debt/Equity
0.40
NAV/Share
Rs 23.37
Revenue Growth
10.37%
Profit Margin
15.37%
Financial Performance
Metric 2024 2025 Dec 2025
Revenue 123.49 136.30 97.21
Expense 112.34 107.97 70.68
Profit (PAT) 8.27 20.95 19.67
Total Assets 40.49 84.73 101.31
Values in Crores (₹)
Peer Comparison
Company P/E EPS Market Cap (Cr)
Redtape Limited 47.39 3.08 22
Bata India Limited 47.41 25.73 21
Lehar Footwears Limited 34.59 6.15 10
Liberty Shoes Limited 40.57 7.92 6
Promoters & Holding Pattern

Promoters: Mr. Arun Malhotra, Ms. Kavya Malhotra, and Ms. kashika Malhotra

Shareholding No. of Shares Holding %
Promoter Holding Pre Issue 1,35,65,986 93.91%

Company Information

About Brandman Retail

Brandman Retail, founded in 2021, sells international sports and lifestyle brands. The company runs via 4 main segments: distribution, licensing, retail, and e-commerce. Its product portfolio includes a wide range of footwear, apparel, accessories & equipment. The company operates various Exclusive Brand Outlets (EBOs) across India, such as Ahmedabad, Ambala, Dehradun, New Delhi, Jalandhar, Bathinda, Gurugram, Lucknow, and Noida. Moreover, under the brand name Sneakrz, the company runs 2 Multi-Brand Outlets (MBOs) in Bathinda and New Delhi, as well as 11 Exclusive Brand Outlets. The firm sells its products via various e-commerce websites, Flipkart, Ajio, and Tata Cliq. The main motive of the Brandam retail is to offer innovation, sustainability, and a customer-centric approach.

Objects of the Issue
Purpose Amount (Cr)
Funding Capital Expenditure for expansion of our New Retail Network by launching 15 Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs) 27.90
Working Capital Requirements for New EBOs and MBOs 11.78
Working Capital Requirements for Existing EBOs and MBOs 267.22
General Corporate Expenses -

Resources & Documents

Anchor Investors
Anchor Bidding Date
February 03, 2026
Shares Offered to Anchors
13,92,000
Lock-in End (30 Days, 50%)
March 11, 2026
Lock-in End (90 Days, 50%)
May 10, 2026
Company Contact Information

Brandman Retail Ltd., DPT 718-719,, 7th Floor DLF Prime Tower, Okhla Industrial Area Phase-I,, South Delhi, New Delhi, 110020

Frequently Asked Questions

Brandman Retail IPO is SME IPO. The company is going to raise ₹86.09 Crores via IPO. The issue is priced at ₹167 to ₹176 per equity share. The IPO is to be listed on NSE SME.

The IPO is to open on February 4, 2026 for QIB, NII, and Retail Investors. The IPO will close on February 6, 2026.

The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.

You can apply for Brandman Retail IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.

Brandman Retail IPO issue size is ₹86.09 crores.

Brandman Retail IPO Price Band is ₹167 to ₹176.

The minimum bid is 1,600 Shares with ₹2,81,600 amount.

Brandman Retail IPO allotment date is February 9, 2026.

Brandman Retail IPO listing date is February 11, 2026. The IPO is to list on NSE SME.

Understanding Grey Market Premium (GMP)

The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.

How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.

Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.

Factors that influence GMP:

  • Subscription levels — Higher subscription typically drives GMP up
  • Market conditions — Bullish markets tend to boost GMP across all IPOs
  • Company fundamentals — Strong financials and growth potential attract premium
  • Industry sentiment — Positive outlook for the sector can increase demand
  • IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP

Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.

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