Defrail Technologies IPO
Market Sentiment
IPO Details
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Financial Analysis
| Metric | 2024 | 2025 | September 2025 |
|---|---|---|---|
| Revenue | 0.72 | 62.22 | 39.08 |
| Expense | 0.57 | 58.24 | 36.48 |
| Profit (PAT) | 0.11 | 3.42 | 1.51 |
| Total Assets | 1.22 | 33.91 | 37.22 |
| Company | EPS | P/E | Market Cap (Cr) |
|---|---|---|---|
| Pentagon Rubber Limited | 0.82 | 86.59 | 2 |
| Gujrat Reclaim & Rubber Product Limited | 6.36 | 265.72 | 2 |
Promoters: Mr. Vivek Aggarwal, Mr. Abhishek Aggarwal, Ms. Ashi Aggarwal, and Mr. Dinesh Aggarwal
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 51,63,620 | 100.00% |
| Promoter Holding Post Issue | 70,24,420 | 73.52% |
Strengths & Risks
- Heavily oversubscribed — 105.6x overall (final).
- Strong institutional (QIB) demand — 71.1x.
- Revenue grew 8,542% in the latest reported year.
- Strong return on equity — 74%.
- Elevated leverage — debt/equity of 1.27.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Defrail Technologies Limited, founded in October 2023, manufactures Rubber parts such as rubber hoses and assemblies, rubber profiles and beadings, and moulded rubber components. Its products are used in various industries such as automotive, railways, and defence sectors. The firm started its journey in 1980 with Vikas Rubber Industries. Later, in 2008, Impex Hitech Rubber was set up to serve B2B customers. On April 1, 2024, both these businesses were merged into Defrail Technologies Limited to serve the B2G segment by offering products directly to government bodies like Indian Railways and the Defence sector. The company runs its 2 manufacturing Faridabad, Haryana, located at Neemka, Tigaon Road, Sector 71 (2,420 sq. yards) and Sector 24, Faridabad (4,833.33 sq. yards). Its facilities use modern machines to make rubber products along with diesel and petroleum hose pipes, LPG hose pipes, nylon tubes, gaskets, grommets, and air intake hoses.
Defrail Technologies Ltd., Plot no. 180, Sector 24,, Sector 22,, Faridabad, Haryana, 121005
| Purpose | Amount (Cr) |
|---|---|
| Purchase of equipment/machineries | 7.96 |
| Purchase and installation of Solar Panel | 1.73 |
| General Corporate Purpose | - |
Resources & Documents
Defrail Technologies has set a price band of Rs 70–Rs 74 per share in the technology sector. The stock listed with a 28.38% gain versus its issue price on January 19, 2026.
Defrail Technologies Limited, founded in October 2023, manufactures Rubber parts such as rubber hoses and assemblies, rubber profiles and beadings, and moulded rubber components. Its products are used in various industries such as automotive, railways, and defence sectors. The company operates in the technology space.
The issue is promoted by Mr. Vivek Aggarwal, Mr. Abhishek Aggarwal, Ms. Ashi Aggarwal, and Mr. Dinesh Aggarwal with NEXGEN Financial Solutions Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards Purchase of equipment/machineries (Rs 8 crore) and Purchase and installation of Solar Panel (Rs 2 crore).
On fundamentals, the company is posting revenue growth of 8,541.7%, a profit margin of 5.5%, return on equity of 73.7% in its most recent reported period. Listed peers in this segment include Pentagon Rubber Limited (P/E 86.59x, market cap Rs 2 crore) and Gujrat Reclaim & Rubber Product Limited (P/E 265.72x, market cap Rs 2 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
On our data-signal score, the combined signals for this issue currently read strong — the composite picture tilts positive, though not without some caveats. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Defrail Technologies IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full Defrail Technologies GMP history and trend, or learn how grey market premium works and how reliable it is.
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