Narmadesh Brass Shares Set to List on BSE SME: GMP, Price & What Investors Should Know

Narmadesh Brass Industries is gearing up for its debut on the BSE SME platform on January 21, 2026. The stock has attracted attention because SME listings often generate strong short-term trading interest. Investors are closely watching not just the IPO price but also the early grey market signals to gauge how “Narmadesh Brass Shares” might perform on listing day.

What Is Narmadesh Brass Industries?

• Company overview: Narmadesh Brass Industries Limited is a brass manufacturing company based in Jamnagar, Gujarat, known as India’s “Brass City” due to its dense metal component cluster.
• Location advantage: Jamnagar offers skilled labor, supplier access, and cost efficiencies for brass manufacturers.
• Product range: The company manufactures brass billets, brass rods, valves, plumbing fittings, agricultural sprayer parts, and custom-machined components.
• Customer base: Products are supplied to domestic industrial clients and export markets.
• Quality certification: The manufacturing unit is ISO 9001:2015 certified, indicating standardized production and quality controls.
• Why listing matters: The BSE SME listing converts a private company into a publicly traded SME, allowing retail investors to participate in its growth.

IPO Details: Price, Size & Dates

• IPO structure: Fixed-price public issue with an offer for sale component.
• Issue size: Total IPO size stands at ₹44.87 crore.
• Issue price: Shares are offered at a fixed price of ₹515 per share.
• Face value: Each equity share has a face value of ₹10.
• Shares offered: A total of 8,71,200 shares are part of the issue.
• Lot size: One lot consists of 240 shares.
• Minimum investment: Retail investors need approximately ₹2.47 lakh per lot.
• Subscription window: IPO opened on 12 January 2026 and closed on 15 January 2026.
• Listing platform: Shares are set to list on the BSE SME exchange.
• Expected listing date: Shares are expected to list between 20–2 and  January 2026, subject to allotment timelines.

Grey Market Premium (GMP): What It Indicates

• Current GMP: Narmadesh Brass Shares are showing a GMP of ₹0.
• Market signal: Zero GMP suggests expectations of a flat or near-issue-price listing.
• Peer comparison: Other SME IPOs, such as INDO SMC, are showing positive GMP, while Narmadesh remains neutral.
• Investor sentiment: Flat GMP indicates cautious or wait-and-watch sentiment among traders.
• Risk note: GMP is volatile and can change rapidly before listing day.

Financial Snapshot of the Company

• FY2025 revenue: The company reported revenue of approximately ₹87–88 crore.
• FY2025 profit: Profit after tax stood at around ₹5.7 crore.
• H1 FY2026 revenue: Revenue for the first half ended September 2025 was about ₹34.2 crore.
• H1 FY2026 profit: Profit after tax during the same period was approximately ₹4.01 crore.
• Growth pattern: Financial performance shows stability rather than aggressive growth.
• Margin reality: Moderate margins reflect typical pressure in metal manufacturing due to raw-material costs.

Why Is the IPO Important for the Company?

• Debt reduction: Part of the IPO proceeds will be used to repay existing borrowings.
• Working capital: Funds will support day-to-day operational needs.
• Capacity upgrade: Capital will be used to purchase new machinery and equipment.
• Business stability: Remaining funds are allocated for general corporate purposes.
• Long-term impact: Improved liquidity may enhance efficiency and production capability.

Competitive Position & Industry Outlook

• Industry structure: Brass manufacturing is highly competitive, especially in Jamnagar.
• Cluster benefit: Operating in a brass hub provides supply-chain efficiency and technical expertise.
• Pricing pressure: High competition can limit pricing power for SMEs.
• Demand drivers: Core demand comes from plumbing, construction, electrical, and agricultural sectors.
• Growth linkage: Industry growth depends on infrastructure spending and industrial activity.
• Operational strength: Narmadesh operates an integrated facility covering casting, forging, and machining.
• Efficiency gain: Integrated operations help control quality and shorten delivery timelines.

Risks Investors Should Know

• Liquidity risk: SME stocks often have low trading volumes after listing.
• Exit challenge: Investors may face difficulty selling shares quickly at desired prices.
• Raw-material risk: Brass prices fluctuate with copper and zinc markets, affecting margins.
• GMP risk: Flat GMP reduces the chances of quick listing gains.
• Market dependence: Listing performance can be influenced by broader small-cap sentiment.
• Investor mix: SME IPOs usually lack strong QIB participation, affecting price stability.

Subscription & Demand Trends

• QIB interest: Institutional participation remained limited.
• Retail response: Retail and non-institutional investor demand showed variation.
• Demand pattern: Uneven subscription indicates selective investor interest.
• Market view: Data reflects cautious optimism rather than aggressive buying.

Listing Day Expectations

• Opening price range: With zero GMP, listing is expected near ₹515.
• Flat listing meaning: A flat debut does not imply poor fundamentals.
• Upside scenario: Strong market sentiment could lead to mild gains.
• Downside scenario: Weak broader markets may keep prices near or slightly below issuethe price.
• Final takeaway: Actual listing price depends on real-time demand and supply, not GMP alone.

Conclusion

Narmadesh Brass Share on the BSE SME market marks a key milestone for a growing brass manufacturer from Jamnagar. While the GMP suggests a flat listing, the company’s fundamentals and planned use of IPO funds could help long-term growth.

Short-term traders should be cautious given SME market dynamics. Long-term investors might view this as an opportunity to participate in an integrated brass products business with structural advantages in its core sector.

FAQS

Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.