Brandman Retail IPO
Bookbuilding IPO | ₹86.00 Cr | Listing at NSE SME
IPO Open
Wed, Feb 04, 2026
IPO Close
Fri, Feb 06, 2026
Price Band
₹167.00 to ₹176.00
Market Cap (Pre-IPO)
₹324.85 Cr
IPO Details
| IPO Date | Feb 04, 2026 to Feb 06, 2026 |
| Listing Date | Tentative: Feb 11, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹167.00 to ₹176.00 |
| Lot Size | 800 Shares (Minimum: ₹140,800.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Issue Size | ₹86.00 Crores |
| Total Shares Offered | 4,891,200 shares |
| Offer For Sale | 4,891,200 shares |
Brandman Retail IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not Less than 15% of the Net Issue |
Brandman Retail IPO Lot Size
Investors can bid for a minimum of 1,600 shares and in multiples of 800 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | ₹281,600 |
| Retail (Max) | 2 | 1,600 | ₹281,600 |
| S-HNI (Min) | 3 | 2,400 | ₹422,400 |
| S-HNI (Max) | 7 | 5,600 | ₹985,600 |
| B-HNI (Min) | 8 | 6,400 | ₹1,126,400 |
Brandman Retail Financial Information (Restated Consolidated)
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 101.31 | 84.73 | 40.49 |
| Total Income | 97.21 | 136.30 | 123.49 |
| Profit After Tax | 19.67 | 20.95 | 8.27 |
| EBITDA | 27.02 | 31.15 | 12.01 |
| NET Worth | 60.26 | 29.79 | 8.84 |
| Reserves and Surplus | 46.70 | 17.04 | 8.59 |
| Total Borrowing | 15.68 | 11.87 | 3.53 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 108.47% |
| ROCE (Return on Capital Employed) | 70.48% |
| Debt/Equity | 0.40 |
| RoNW (Return on Net Worth) | 70.33% |
| PAT Margin (Profit After Tax Margin) | 15.49% |
| EBITDA Margin | 23.02% |
| Price to Book Value | 7.53 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 15.45 | 14.21 |
| P/E (x) | 11.39 | 11.39 |
| Promoter Holding | 11.39% | - |
Company Promoters
- The promoter of the company are Mr. Arun Malhotra
- Ms. Kavya Malhotra
- and Ms. kashika Malhotra.
Company Overview
Brandman Retail Limited – Company Overview
- Established in 2021, Brandman Retail Limited is engaged in the distribution of international sports and lifestyle brands in India.
- The company operates through four core business verticals: distribution, licensing, retail, and e-commerce.
- Focuses on innovation, customer-centric retailing, and sustainable business practices.
Retail & Store Network
- Operates Exclusive Brand Outlets (EBOs) across northern India, including Ahmedabad, Ambala, Dehradun, New Delhi, Jalandhar, Bathinda, Gurugram, Lucknow, and Noida.
- Each EBO complies with License Grantee standards and primarily represents the New Balance brand under a non-exclusive distribution agreement.
- Operates 11 EBOs and 2 Multi-Brand Outlets (MBOs) under the brand “Sneakrz”, located in Bathinda and New Delhi.
Distribution & Online Presence
- Holds non-exclusive distribution agreements, ensuring a diverse and high-quality product portfolio.
- Strong e-commerce presence through leading platforms such as Flipkart, Ajio, and Tata Cliq, catering to consistent monthly online orders.
High-Impact SEO Keywords Used
Brandman Retail IPO, international sportswear distributor, SME IPO India, lifestyle brand retail company, New Balance India distributor, EBO retail network, omnichannel retail company
Company Strengths
- Experienced promoters and professional team.
- Omni-channel Distribution network.
- Asset light and Scalable Business Model.
- Strength comes from strategic locations across North India, ensuring strong market access.
- Diverse product portfolio and access to global market.
- Strong Brand Synergy & Growth Potential.
- Growing Consumer Base & Strong Customer Loyalty.
Use of Proceeds
| 1) | Funding Capital Expenditure for expansion of our New Retail Network by launching 15 Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs) | 27.90 |
| 2) | Working Capital Requirements for New EBOs and MBOs | 11.78 |
| 3) | Working Capital Requirements for Existing EBOs and MBOs | 267.22 |
| 4) | General Corporate Expenses |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Brandman Retail IPO Peer Comparison
Brandman Retail peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Brandman Retail | 16.43 | - | 23.37 | - | 70.33 | - | - |
| Redtape | 3.08 | - | 14.27 | 47.39 | 21.55 | 10.36 | - |
| Bata India | 25.73 | - | 122.54 | 47.41 | 20.99 | 9.99 | - |
| Lehar Footwears | 6.15 | - | 63.60 | 34.59 | 9.67 | 3.37 | - |
| Liberty Shoes | 7.92 | - | 130.60 | 40.57 | 6.09 | 2.47 | - |
Quick Info
| Sector | Retail |
| Exchange | NSE SME |
| Market Cap (Pre-IPO) | ₹324.85 Cr |
Important Dates
| IPO Open | Feb 04, 2026 |
| IPO Close | Feb 06, 2026 |
| Allotment Date | Feb 09, 2026 |
| Credit to Demat | Feb 10, 2026 |
| Listing Date | Tentative: Feb 11, 2026 |
Lead Manager(s)
Gretex Corporate Services Ltd.
Registrar
Bigshare Services Pvt.Ltd.
91-22-6263 8200
Description
Brandman Retail IPO is a book-built SME IPO with a total issue size of ₹86.09 crore, consisting entirely of a fresh issue of 0.49 crore equity shares. The IPO opens for subscription on February 4, 2026 and closes on February 6, 2026. IPO allotment is expected on February 9, 2026, while the shares are likely to list on NSE SME on February 11, 2026.
The Brandman Retail IPO price band is fixed at ₹167–₹176 per share, with an IPO lot size of 800 shares. Retail investors need a minimum investment of ₹2,81,600 (1,600 shares), whereas HNI investors must apply for 2,400 shares amounting to ₹4,22,400.