Brandman Retail IPO opens for subscription on February 4, 2026 and will close on February 6, 2026. This SME IPO is a Book Built Issue where the company plans to raise around ₹86.09 crores entirely through a fresh issue of equity shares.
The IPO price band has been fixed at ₹167 to ₹176 per share. The allotment is expected on February 9, 2026, and the shares are slated to list on the NSE SME on February 11, 2026.
Contents
Brandman Retail IPO Details
| Item | Details |
|---|---|
| IPO Open Date | February 4, 2026 |
| IPO Close Date | February 6, 2026 |
| Face Value | ₹10 per equity share |
| IPO Price Band | ₹167 – ₹176 per share |
| Issue Size | Approx ₹86.09 crores |
| Fresh Issue | Approx ₹86.09 crores |
| Offer for Sale | – |
| Issue Type | Book Built Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | View PDF |
| RHP Draft Prospectus | View PDF |
Brandman Retail IPO
Open: 4-6 Feb
Issue Size: ₹86.09 Cr.
Objective: Expand retail network & support working capital for growth.
Exchange: NSE SME
Brandman Retail IPO Review
Brandman Retail’s IPO gives investors an opportunity to participate in the expansion of a rapidly growing retail company focused on international sports and lifestyle brands. The company has shown consistent revenue and profit growth, with consolidated revenues rising year-on-year and profitability strengthening in recent financial periods.
While the SME nature of the IPO means liquidity may be limited compared to mainboard listings, long-term investors seeking exposure to organised retail and lifestyle segments may find this issue worth considering, especially given the company’s strategic partnerships and diversified omnichannel presence.
Market Lot Size
| Category | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 1,600 | ₹2,81,600 |
| Retail Maximum | 2 | 1,600 | ₹2,81,600 |
| S-HNI Minimum | 3 | 2,400 | ₹4,22,400 |
| S-HNI Maximum | 7 | 5,600 | ₹9,85,600 |
| B-HNI Minimum | 8 | 6,400 | ₹11,26,400 |
IPO Reservation
| Investor Category | % Shares |
|---|---|
| QIB (Excluding Anchor) | 50% |
| NII Shares (HNI) | 15% |
| Retail Investors | 35% |
Important IPO Dates
| Event | Date |
|---|---|
| IPO Open | February 4, 2026 |
| IPO Close | February 6, 2026 |
| Basis of Allotment | February 9, 2026 |
| Refunds | February 10, 2026 |
| Credit to Demat | February 10, 2026 |
| IPO Listing | February 11, 2026 |
| Bidding Cut-off | February 6, 2026 – 5 PM |
Promoters and Holding Pattern
Brandman Retail is promoted by Mr. Arun Malhotra, Ms. Kavya Malhotra, and Ms. Kashika Malhotra. Prior to the IPO, promoters held a significant majority of shares, reflecting strong founder commitment to growth.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre-Issue | 1,35,65,986 | 93.91% |
| Promoter Holding Post-Issue | 1,84,57,186 | – |
Object Of Issue
Brandman Retail plans to use the IPO funds primarily to expand its physical and digital retail footprint. A significant portion will go towards funding capital expenditure to launch 15 new Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs), strengthening inventory and working capital for both new and existing outlets, and supporting broader corporate requirements.
About Brandman Retail Company
Founded in 2021, Brandman Retail is engaged in retailing and distributing international sports, lifestyle, and footwear brands in India. The company operates through multiple business segments including distribution, licensing, retail stores, and e-commerce marketplaces.
Its product portfolio spans footwear, apparel, accessories, and related equipment. The company’s footprint includes several Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs) across key urban centres, and it sells products online via platforms such as Flipkart, Ajio, and Tata CLiQ.
Company Financials (₹ in Crores)
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | ₹123.49 | ₹112.34 | ₹8.27 | ₹40.49 |
| 2025 | ₹136.30 | ₹107.97 | ₹20.95 | ₹84.73 |
| Dec 2025 | ₹97.21 | ₹70.68 | ₹19.67 | ₹101.31 |
Valuation – FY2025
Brandman Retail posted improved margins and stronger profitability in FY2025, reflecting better operational scaling and tighter cost control compared with prior years.
| KPI | Value |
|---|---|
| ROE | 108.47% |
| ROCE | 75.08% |
| EBITDA Margin | 23.02% |
| PAT Margin | 15.49% |
| Debt to Equity | 0.40 |
| EPS (Basic) | ₹16.43 |
| NAV | ₹23.37 |
IPO Lead Manager
| Role | Details |
|---|---|
| Lead Manager | Gretex Corporate Services Ltd. |
Company Address
| Detail | Information |
|---|---|
| Registered Office | DPT 718-719, 7th Floor, DLF Prime Tower, Okhla Industrial Area Phase-I, South Delhi, New Delhi, 110020 |
| Phone | 011-46052323 |
| info@brandmanretail.com | |
| Website | https://brandmanretail.com/ |
IPO Registrar
| Detail | Information |
|---|---|
| Registrar | Bigshare Services Pvt. Ltd. |
| Phone | +91-22-6263 8200 |
| ipo@bigshareonline.com | |
| Website | https://ipo.bigshareonline.com/IPO_Status.html |
Brandman Retail IPO FAQs
What is Brandman Retail IPO?
Brandman Retail IPO is an SME public offer to raise around ₹86.09 crores through a fresh issue of equity shares priced at ₹167 to ₹176 per share, to be listed on NSE SME.
When will the IPO open and close?
The IPO opens on February 4, 2026, and closes on February 6, 2026.
What is the price band of the IPO?
The IPO price band is ₹167 to ₹176 per share.
What is the lot size and minimum investment?
The minimum bid is 1,600 shares, which works out to about ₹2,81,600 at the upper price band.
What are the reservation portions?
QIB: 50%, NII: 15%, Retail: 35%.
When is the allotment date?
Allotment is expected on February 9, 2026.
When will the IPO list?
Shares are expected to list on February 11, 2026 on NSE SME.
How do I apply for this IPO?
You can apply using ASBA through your bank account or via UPI through brokers, or submit an offline application through your broker.
Expert Comment
Brandman Retail’s IPO arrives at a time when SME issues are attracting investor interest due to strong consumption trends in lifestyle and athleisure segments. The company’s expanding retail footprint and strategic brand partnerships strengthen its growth prospects.
Investors should consider SME-specific risks such as limited post-listing liquidity and dependence on key customers, but for long-term investors aligned with retail growth, the IPO offers an interesting entry point backed by improving financials and focused expansion plans.
