Metals (Brass) - Listed on 21 January 2026
Narmadesh Brass (Metals (Brass)) closed its IPO window in 2026 and listed on NSE and BSE on 21 January 2026 at an upper band issue price of Rs 515, opening at Rs 495 for a listing gain of -3.9% and closing day one at Rs 470.25 (-8.7% on closing basis). The IPO was subscribed 1.25x overall - QIB 0.00x, HNI/NII 1.92x, Retail 0.44x. The total issue size was Rs 44.87 Cr (Fresh Issue Rs 36.09 Cr, OFS Rs 8.78 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Metals (Brass)
Narmadesh Brass operates in the Metals (Brass) space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Narmadesh Brass issue was offered at an upper price of Rs 515 and raised approximately Rs 44.87 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | - | - |
| Day 2 | - | - |
| Day 3 | - | - |
| Day 4 | - | - |
| Day 5 | - | - |
How the broader market moved around the Narmadesh Brass IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Narmadesh Brass IPO listed at -3.9% versus the upper issue price of Rs 515 on 21 January 2026.
Narmadesh Brass IPO was subscribed 1.25x overall. QIB portion was subscribed 0.00x, HNI / NII 1.92x and Retail 0.44x.
Day-by-day IPO GMP data for Narmadesh Brass is listed in the table above.