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| IPO Listing At | BSE SME |
| SME IPO Issue Type | Book Build Issue |
| Total Issue Size | ₹13.77 Cr |
| Reserved for Market Maker | ₹0.70 Cr |
| Net Issue Size | ₹13.77 Cr |
| Fresh Issue | ₹13.07 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹70.00-74.00 per share |
| BSE Code | 544677 |
| Registrar | Maashitla Securities Pvt.Ltd. |
| Lead Managers | NEXGEN Financial Solutions Pvt.Ltd. |
Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 3,200 shares · Multiples of 1,600 shares
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 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.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of equipment/machineries | 7.96 |
| 2 | Purchase and installation of Solar Panel | 1.73 |
| 3 | General Corporate Purposes | 1.74 |
| 4 | Issue expenses | 2.34 |
| Total | 13.77 |
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 37.22 | 33.91 | 1.22 |
| Total Income | 39.08 | 62.22 | 0.72 |
| Profit After Tax | 1.51 | 3.42 | 0.11 |
| EBITDA | 3.44 | 5.78 | 0.14 |
| NET Worth | 10.62 | 9.12 | 0.16 |
| Reserves and Surplus | 5.46 | 3.96 | 0.11 |
| Total Borrowing | 11.78 | 11.56 | 0.41 |
| Amount in ₹ Crore | |||
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 11.44% | 73.72% |
| ROCE | 13.28% | 24.43% |
| Debt / Equity | 1.11% | 1.27% |
| RoNW | 11.44% | 73.72% |
| PAT Margin | 3.85% | 5.49% |
| EBITDA Margin | 8.80% | 9.29% |
| Price to Book Value | 4.19 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 6.62 | 4.29 |
| P/E (x) | 11.18 | 17.25 |
| Promoter Holding | 100% | 73.51% |
| Market Cap | ₹51.98 Cr. | |
