The initial public offer (IPO) of Defrail Technologies received bids for 13,18,04,800 shares as against 13,42,400 shares on offer. The issue was subscribed 98.19 times.
Qualified Institutional Buyers (QIBs) bid for 2,52,49,600 shares, Non-Institutional Investors (NIIs) for 4,33,58,400 shares, while individual investors (IND category bidding for 2 lots) placed bids for 6,31,96,800 shares.
The issue opened for bidding on Friday (09 January 2026) and it closed on Tuesday (13 January 2026). The price band of the IPO was fixed between Rs 70 to Rs 74 per share. The minimum order quantity is 1,600 equity shares. The equity shares will list on BSE’s SME platform.
The IPO comprised a fresh issue of 18,60,800 equity shares, with about 94,400 equity shares reserved for subscription by the market maker to the issue. The net issue consisted of 38,92,800 equity shares. The issue and the net issue constituted 27.15% and 25.78% respectively of the post-offer paid-up equity share capital of the company.
The company intends to utilise the net proceeds for purchase of equipment/machineries, purchase and installation of solar panel and general corporate purposes.
Ahead of the IPO, Defrail Technologies on Thursday, 08 January 2026, raised Rs 3.84 crore from anchor investors. The board allotted 5.18 lakh shares at Rs 74 each to 3 anchor investors.
Defrail Technologies is engaged in the manufacturing of rubber parts and components, including rubber hoses and assemblies, rubber profiles and beadings, and rubber moulded parts. Its products have diverse applications across various industries such as automotive, railways, and defence. The company assists clients in selecting the appropriate products for their specific applications and also provides design and customization options based on the intended use. As of 30 November 2025, the company had a total workforce of 298 individuals, including workers.
The company recorded revenue from operations of Rs 39.08 crore and net profit of Rs 1.51 crore for the period ended 30 September 2025.