SME IPO
₹1,12,000
Minimum Investment
Exchange Listed · NSE / BSESEBI Regulated Issue
About Company
Company Name: Defrail Technologies Limited
Industry / Sector: Industrial Manufacturing / Rubber Components
Founded Year: 2023
Promoters: Vivek Aggarwal
Defrail Technologies Limited manufactures rubber and polymer-based components such as hoses, profiles, beadings and moulded parts used in automotive, railways and defence sectors. The company operates on a B2B and B2G model with customization capabilities.
IPO Basic Details
| Company Name | Defrail Technologies Limited |
| IPO Type | SME IPO |
| Price Band | ₹70 – ₹74 |
| Lot Size | 1600 |
| Total Issue Size | ₹13.77 Cr |
IPO Strengths & Risks
Strengths
- Diversified end-use industries (auto, railways, defence)
- RDSO-approved vendor (railway supply)
- Strong legacy manufacturing experience (since 1980 via promoters)
- Customization and in-house R&D capability
- Government contracts via GeM platform
Risks
- Thin profit margins (~5%)
- Recent restructuring (business consolidation in 2024)
- Moderate debt levels
- Small scale SME business
- Revenue volatility risk
IPO Important Dates
| IPO Open Date | 09 Jan 2026 |
| IPO Close Date | 13 Jan 2026 |
| Basis of Allotment | 14 Jan 2026 |
| Refund Initiation | 15 Jan 2026 |
| Demat Credit Date | 15 Jan 2026 |
| Listing Date | 16 Jan 2026 |
| Anchor Investor Date | - |
| UPI Mandate Deadline | 13 Jan 2026 |
IPO Objectives
- Capital expenditure for machinery and equipment – -
- Funding working capital requirements – -
- Debt repayment – -
- General corporate purposes – Remaining amount
Investor Reservation
| QIB Quota | ≈20% |
| Retail Quota | ≈35% |
| HNI Quota | ≈15% |
| Employee Quota | - |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 lot | 1600 | ₹1,18,400 |
| Retail Maximum | 1 lot | 1600 | ₹1,18,400 |
| S-HNI Minimum | 2 lots | 3200 | ₹2,36,800 |
| S-HNI Maximum | - | - | - |
| B-HNI Minimum | 9 lots | 14400 | ₹10,65,600 |
Key Performance Indicators (KPI)
| ROE | ≈73% (FY25, exceptional but unsustainable) |
| ROCE | N/A |
| RoNW | ≈73% |
| PAT Margin | ≈5.5% |
| EBITDA Margin | N/A |
| EPS | ₹4.5–5 (approx) |
| NAV per share | N/A |
| Debt to Equity | ≈1.1–1.27 |
| P/E Ratio | ≈15–17x |
| Industry P/E | 20–25x |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| 31 Mar 2024 | N/A | ₹0.72 Cr | ₹0.11 Cr | N/A | N/A | Low |
| 31 Mar 2025 | N/A | ₹62.22 Cr | ₹3.42 Cr | N/A | N/A | ₹11.5+ Cr |
| Sep 2025 | N/A | ₹39.08 Cr | ₹1.51 Cr | N/A | N/A | Moderate |
Grey Market Premium
| GMP Price | ₹5 – ₹8 (~8–10%) |
| Kostak Rate | N/A |
| Subject to Sauda | N/A |
| Last Updated | Jan 2026 |
| Estimated Listing Price | ₹80 – ₹85 |
IPO Subscription Data
| Total Subscription | ≈96x – 98x |
| QIB (Ex Anchor) | Strong |
| HNI Subscription | Very high |
| Retail Subscription | Strong |
| Anchor | - |
IPO Intermediaries
Registrar: Maashitla Securities Private Limited
Registrar Website: https://maashitla.com
IPO Lead Manager(s)
Nexgen Financial Solutions Private Limited
Company Information
Address: Plot no 180, Sector 24,Sector 22, ,Faridabad, Haryana, 121005
Website: http://www.defrailtech.in
Email: cs@defrailtech.com
Phone: 011-45121795
IPO Documents
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