Defrail Technologies IPO: GMP, Price, Analysis, And Details

Defrail Technologies IPO- Company Analysis 

Defrail Technologies IPO under the SME IPO category is a bookbuild issue of Rs. 13.77 Cr by Defrail Technologies Limited and is involved in the production of rubber components and parts, such as molded rubber parts, rubber profiles and beadings and rubber hoses and assemblies. Its products are used in a variety of industries, including the automotive, railroad, and defense sectors. The company provides customers with both basic goods and solutions that are specifically designed to meet their operational needs.

Defrail Technologies began in 1980 with the founding of Vikas Rubber Industries. In order to provide B2B clients with more capabilities, Impex Hitech Rubber was established in 2008.  In addition to serving the B2G market by delivering goods directly to government agencies like Indian Railways and the Defense, the company mostly uses a B2B business model, fulfilling large orders for customers in the automobile industry.

Defrail Technologies IPO Details

The Defrail Technologies IPO date of opening is 09 Jan 2026, its initial public offering will end on 13 Jan, IPO allotment on Jan 14 and refund initiation on Jan 15, 2026.

The Rs. 13.77 crore new SME IPO comprises a wholly fresh issue of 0.19 crore shares.

The Defrail Technologies IPO listing date (expected) might be on Friday, Jan 16, 2026, and listing at the BSE and SME. 

The Defrail Technologies IPO price band is Rs. 70 to Rs. 74.

 

 

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Jan 09, 2026
IPO Closing Date	Jan 13, 2026
IPO Allotment Date	Jan 14, 2026
Refund Initiation	Jan 15, 2026
IPO Listing Date	Jan 16, 2026

 

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Company Financials 

(Amount in Cr)

Particulars	30 Sep 2025	31 Mar 2025	31 Mar 2024
Assets	37.22	33.91	1.22
Total Income	39.08	62.22	0.72
PAT	1.51	3.42	0.11
EBITDA	3.44	5.78	0.14
Net Worth	10.62	9.12	0.16
Reserves & Surplus	5.46	3.96	0.11
Total Borrowing	11.78	11.56	0.41

 

Cash Flows

(Amount in lac)

Net Cash Flow	30 Sep 2025	31 Mar 2025	31 Mar 2024
Net Cash Flow Operating Activities	136.72	(164.13)	(5.39)
Net Cash Flow Investing Activities	(109.87)	874.05	(29.00)
Net Cash Flow Financing Activities	(20.08)	1,110.68	46.31

 

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Purchase of equipment/machinery. ~ Rs. 7.96 Cr.
• Purchase and installation of Solar Panel. ~ Rs. 1.73 Cr.
• General Corporate Purposes.
  
  

Listed Peers of Defrail Technologies Ltd. 

Name of the Company	Face Value (₹)	EPS (₹)	P/E Ratio (x)
Pentagon Rubber Limited	10	0.82	86.59
Gujrat Reclaim & Rubber Product Limited	10	6.36	265.72

 

Valuation

KPI	Value
ROE	73.72%
ROCE	24.43%
Debt / Equity	1.27
RoNW	73.72%
PAT Margin	5.49%
EBITDA Margin	9.29%

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 6.62 from the last year, the resulting P/E ratio is 11.17x.

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IPO's Strengths 

• The company's management is seasoned and well-versed in its operations and industry.
• The company can offer goods to the Indian Railways sector because it is an RDSO-approved vendor.
• The business serves a variety of sectors with a wide range of products.
• Strong ties between the company and its suppliers and customers enable steady, reliable business operations.
• The business supports product quality and innovation with an internal testing and research and development facility.
  
  

IPO’s Weaknesses  

• • Reliance on Variable Prices for Raw Materials.
• • Enhanced adherence to environmental standards and regulations.
• • Dependency on outside vendors.
• • Difficulties with Technological Upgrading.
  
  

Defrail Technologies IPO GMP (Grey Market Premium)

Defrail Technologies IPO GMP today is Rs. 0 as of 06 Jan 2026 while writing this information. With a price band set at Rs. 74. This suggests that the estimated listing price of the IPO could be around Rs. 74, indicating a gain/loss of 0%.

Defrail Technologies IPO Summary

IPO Opening & Closing Date	09 Jan, 2026 to 13 Jan, 2026
Face Value	Rs. 10 per Share
Issue Price	Rs. 70 to Rs. 74 per Share.
Lot Size	1600 Shares
Issue Size	18,60,800 Shares (Rs. 14 Cr)
Offer for Sale	-
Fresh Issue	18,60,800 Shares (Rs. 14 Cr)
Listing at	BSE, SME
Issue Type	Bookbuild issue IPO
Registrar	Maashitla Securities Pvt. Ltd.

 

IPO Lot Details 

Retail investors can invest in a minimum of 2 Lots (3200 Shares) for Rs. 2,36,800, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (4800 Shares) for Rs. 3,55,200.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

Defrail Technologies IPO Allotment Status

To check the Defrail Technologies IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Defrail Technologies Ltd.

• Mr. Vivek Aggarwal
• Mr. Abhishek Aggarwal
• Ms. Ashi Aggarwal
• Mr. Dinesh Aggarwal

Pre-Issue Promoter Shareholding	100%
Post-Issue Promoter Shareholding	73.52%

 

IPO Lead Managers

• NEXGEN Financial Solutions Pvt. Ltd.
  
  

Dividend Policy

The company has not paid a dividend in any financial year.

 

 

Conclusion

Defrail Technologies IPO is a niche-focused SME that supplies a variety of rubber components to the automobile, railroad, and defense industries. Long-term investors find an IPO with strong ROE, a fair P/E value and well-defined capacity-expansion goals to be particularly intriguing. The volatility of raw material prices and SME risk make it difficult for me to make well-informed decisions.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.