Defrail Technologies Limited – IPO
Defrail Technologies Limited – IPO Details
| IPO Date | January 9, 2026 to January 13, 2026 |
| Listing Date | January 16, 2026 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 70 to ₹ 74 / Share |
| Lot Size | 1600 Shares |
| Total Issue Size | 18,60,800 shares (Aggregating up to ₹14 Cr) |
| Fresh Issue | |
| Offer for Sale | |
| Employee Discount | |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share holding pre issue | 51,63,620 shares |
| Share holding post issue | 70,24,420 shares |
| Market Maker portion |
Defrail Technologies Limited Timeline (Tentative Schedule)
Defrail Technologies Limited IPO opens on January 9, 2026, and closes on January 13, 2026.
| IPO Open Date | January 9, 2026 |
| IPO Close Date | January 13, 2026 |
| Basis of Allotment | January 14, 2026 |
| Initiation of Refunds | January 15, 2026 |
| Credit of Shares to Demat | January 15, 2026 |
| Listing Date | January 16, 2026 |
| Cut-off time for UPI mandate confirmation | January 13, 2026 |
Defrail Technologies Limited IPO Lot Size
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | Rs.236,800 |
| Retail (Max) | 2 | 3,200 | Rs.236,800 |
| S-HNI (Min) | 3 | 4,800 | Rs.355,200 |
| S-HNI (Max) | 8 | 12,800 | Rs.947,200 |
| B-HNI (Min) | 9 | 14,400 | Rs.1,065,600 |
| HNI (Min) |
Defrail Technologies Limited IPO Promoter Holding
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 73.52% |
Defrail Technologies Limited IPO Reservation
Defrail Technologies IPO offers total 18,60,800 shares. Out of which 8,73,600 (46.95%) allocated to QIB, 3,55,200 (19.09%) allocated to QIB (Ex- Anchor), 2,68,800 (14.45%) allocated to NII, 6,24,000 (33.53%) allocated to RI,I and 5,18,400 (27.86%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 5,18,400 (27.86%) |
|
| Market Maker Shares Offered | 94,400 (5.07%) |
|
| Other Shares Offered | |
|
| QIB Shares Offered | 8,73,600 (46.95%) |
|
| NII (HNI) Shares Offered | 2,68,800 (14.45%) |
|
| bNII > ₹10L | 1,77,600 (9.54%) |
|
| sNII < ₹10L | 91,200 (4.90%) |
|
| Retail Shares Offered | 6,24,000 (33.53%) |
|
| Employee Shares Offered | |
|
| Total Shares Offered | 18,60,800 (100.00%) |
Defrail Technologies Limited IPO Anchor Investors Details
| Bid Date | |
| Shares Offered | 5,18,400 |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
About Defrail Technologies Limited
Incorporated in October 2023, Defrail Technologies Limited is engaged in the business of manufacturing rubber parts and components, including rubber hoses and assemblies, rubber profiles and beadings, and moulded rubber parts. Its products find applications across industries such as automotive, railways, and defence, with the company offering clients both standard products and customised solutions tailored to their operational requirements.
Defrail Technologies traces its origins to 1980 with the establishment of Vikas Rubber Industries, followed by the formation of Impex Hitech Rubber in 2008 to serve B2B customers with expanded capabilities. On April 1, 2024, both businesses were consolidated into Defrail Technologies Limited through Business Transfer Agreements. The company primarily operates on a B2B model, supplying bulk orders to clients in the automotive sector, while also serving the B2G segment by delivering products directly to government authorities such as Indian Railways and the Defence.
The company operates two manufacturing plants in Faridabad, Haryana:
Neemka, Tigaon Road, Sector 71 (2,420 sq. yards)
Sector 24, Faridabad (4,833.33 sq. yards)
These facilities are equipped with advanced machinery enabling the production of a wide range of rubber products, including diesel and petroleum hose pipes, LPG hose pipes, nylon tubes, gaskets, grommets, air intake hoses, EPDM profiles, sponges, and aluminium window rubber beadings.
The company is ISO 9001:2015 certified for quality management systems. It is registered as a seller on the Government e-Marketplace (GeM), enabling participation in government procurement tenders and vendor contracts.
As of November 30, 2025, the company has 298 permanent employees.
Competitive Strength:
- The company has experienced management with strong knowledge of its industry and operations.
The company is an RDSO-approved vendor, enabling it to supply products to the Indian Railways sector.
The company offers a diversified product range that caters to multiple industries.
The company maintains strong relationships with both customers and suppliers, which support stable, consistent business operations.
The company has an in-house testing and research and development center, supporting product quality and innovation.
Key Performance Indicator
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 73.72% |
| ROCE | 24.43% |
| Debt/Equity | 1.27 |
| RoNW | 73.72% |
| P/BV | 4.19 |
| PAT Margin (%) | 5.49% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.62 | 4.29 |
| P/E (x) | 11.18 | 17.25 |
Note:
- The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
- The Pre IPO EPS is calculated based on Pre issue shareholding as on the date of RHP and the latest FY earnings as of March 31, 2025, available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 202,5 available in RHP.
Objects of the Issue (Defrail Technologies Limited IPO Objectives)
Defrail Technologies Limited Contact Details
Defrail Technologies Ltd. Plot no 180, Sector 24, Sector 22, Faridabad, Haryana, 121005
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Defrail Technologies Limited IPO Registrar
Maashitla Securities Pvt.Ltd.
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