Brandman Retail IPO Day 1: Subscription at 0.09x, GMP Jumps 6.82% | Live Updates

Posted by : Neeraj Pandey | Wed Feb 04 2026

The Brandman Retail IPO GMP is ₹12 as of 4th February 2026. It is a book-building issue IPO of ₹86.09 crores. This is an entirely fresh issue of 0.49 crore shares. The issue will be listed on NSE and SME on its tentative listing date, 11th February 2026. The face value of Brandman Retail IPO shares is ₹10 per share, and the IPO price band is ₹167 to ₹176 per share. Retail investors can bid for a minimum of 2 lots of 1,600 shares worth ₹2,81,600. Scroll down to check the Brandman Retail IPO GMP and subscription details.

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Brandman Retail IPO GMP Grey Market Premium

As mentioned earlier, the Brandman Retail IPO GMP currently stands at ₹12.00 per share. Thus, the estimated listing price would be at ₹188.00. This indicates that the estimated listing gain in this IPO could be 6.82%. Explore the table for Brandman Retail IPO GMP updates.

GMP DATE	IPO Price	GMP Price	Estimated Listing Price	Estimated Gain
4-2-2026	₹176.00	₹12.00	₹188.00	6.82%
3-2-2026	₹176.00	₹12.00	₹188.00	6.82%
2-2-2026	₹176.00	₹0.00	₹176.00	0.00%
1-2-2026	₹0.00	₹0.00	₹0.00	0.00%
31-01-2026	₹0.00	₹0.00	₹0.00	0.00%
30-01-2026	₹0.00	₹0.00	₹0.00	0.00%
29-01-2026	₹0.00	₹0.00	₹0.00	0.00%
28-01-2026	₹0.00	₹0.00	₹0.00	0.00%

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Brandman Retail IPO GMP status at Univest.

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Brandman Retail IPO Subscription Status

As of now, the Brandman Retail IPO has been subscribed to 0.09 times. Of these, 0.12 times are subscribed by retail investors, 0.31 times by non-institutional investors, and 0.00 times by QII (Qualified Institutional Investors).

The healthy subscription status indicates that investors are expecting higher returns at the time of Brandman Retail’ IPO listing on 11th February 2026. Brandman Retail also has a positive outlook behind the fresh issue of 0.49 crore shares, which will raise around Rs 86.09 crores.

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Brandman Retail IPO Subscription status at Univest.

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Brandman Retail IPO Details

IPO Allotment Date	9th February 2026
IPO Open Date	4th January 2026
IPO Close Date	6th February 2026
Refund Initiation	10th February 2026
Issue Size	48,91,200 shares(agg. up to ₹86 Cr)
Face Value	₹10 per share
Lot Size	800 Shares
Issue Price	₹167 to ₹176 per share
Issue Type	Bookbuilding IPO
Listing At	NSE SME
Listing Date	11th February 2026

Also Read: Grover Jewells IPO GMP & Review: Apply or Avoid?

Explanation

Brandman Retail IPO: Brandman Retail IPO Limited has declared an issue price band of ₹167 to ₹176 per share. With this IPO, the company allows retail investors to bid for at least 2 lots of 1,600 share, each worth ₹2,81,600. The face value of Brandman Retail IPO Limited shares is ₹10 per share. The shares of Brandman Retail IPO Limited will be listed on NSE and SME on its tentative listing day, 11th February 2026. Scroll down to check GMP updates and Brandman Retail IPO reviews.

About Brandman Retail Ltd.

Brandman Retail Limited was incorporated in the year 2021. Brandman Retail Limited is a distributor of international sports and lifestyle brands. The company has been operating on the basis of four main pillars, which include distribution, licensing, retail, and e-commerce. The company is driven by innovation, customer focus, and sustainability. The company has Exclusive Brand Outlets (EBOs) in northern India, including Ahmedabad, Ambala, Dehradun, New Delhi, Jalandhar, Bathinda, Gurugram, Lucknow, and Noida. Each outlet is of the required standard for the License Grantee and is mainly a representation of the New Balance brand under a non-exclusive distribution agreement. The company has two MBOs named “Sneakrz” in Bhatinda and New Delhi, and 11 EBOs. The company has non-exclusive distribution agreements to provide a diverse and quality product range to their customers. They also sell their products online through Flipkart, Ajio, and Tata Cliq, which meet the monthly orders.

Brandman Retail Limited Financials

The company’s financial analysis is essential before applying for the Brandman Retail IPO. See the table for Brandman Retail Limited’s financials.

Year Ended	31st Dec 2025 (in cr.)	31st March 2025 (in cr.)	31st March 2024 (in cr.)
Assets	101.31	84.73	40.49
Revenue	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 Borrowings	15.68	11.87	3.53

Explanation

Brandman Retail Limited’s revenue increased by 10.37% from ₹123.49 crores in March 2024 to ₹136.30 crores in March 2025. Moreover, the company’s PAT increased by 153.32% from ₹8.27 crores in March 2024 to ₹20.95 crores in March 2025.

Brandman Retail IPO Objectives

The primary aim of the Brandman Retail IPO is to raise ₹86.09 crores. On the other hand, Brandman Retail has decided to utilise these funds in different ways.

To fund the working capital requirements of the Company
To Prepayment or repayment of a portion of certain outstanding borrowings availed by the Company
To General Corporate Expenses.

Brandman Retail IPO Registrar

Bigshare Services Private Limited is the registrar for the Brandman Retail IPO, awaiting the allotment process and initiating refunds. For any queries regarding the Brandman Retail allotment and refund, you can contact Bigshare Services Private Limited at

ipo@bigshareoline.com or at +91-22-6263 8200.

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Brandman Retail IPO Review

The Brandman Retail IPO has gained neutral ratings from industry experts, brokers, and institutional investors. Brandman Retail Limited’s revenue increased by 10.37% from ₹123.49 crores in March 2024 to ₹136.30 crores in March 2025. Moreover, the company’s PAT increased by 153.32% from ₹8.27 crores in March 2024 to ₹20.95 crores in March 2025.

Most analysts recommend applying for this IPO to diversify your investment portfolio. However, we’re waiting for additional ratings to get a clearer picture and will keep posting them to deliver real-time insights. Until then, you can explore the company’s technical analysis to know whether you should apply for the Brandman Retail IPO or not.

Key Indicators	Value
PE Ratio (Price-to-Earnings)	11.39
EPS (Earnings Per Share)	15.45
RoNW	32.64%
ROCE	36.92%
ROE	43.69%
EBITDA Margin	28.35%
Price to Book Value	–
Market Capitalisation	₹324.85 Cr

The P/E ratio of Brandman Retail Limited shares is 11.39, and its Earnings Per Share (EPS) stands at 15.45. Thus, the Brandman Retail IPO can deliver gains on its tentative listing date, 11th February 2026.

Note: The data, as mentioned above, is taken from authentic sources and highlights pre-issue information. The PE ratio and EPS of Brandman Retail Limited are subject to change after the IPO. Explore the table below to get post-issue updates on these two metrics.

Indicators	Pre-IPO	Post-IPO
PE Ratio	11.39	12.38
EPS	15.45	14.21

FAQs on Brandman Retail IPO

What is the Brandman Retail IPO GMP?

Currently, on 4th February 2026, the Brandman Retail IPO GMP (Grey Market Premium) stands at ₹12. This indicates that the estimated listing price could be ₹188.00 per share.

What is the issue price of the Brandman Retail IPO?

The Brandman Retail IPO issue price band is set at ₹167 to ₹176 per share. Retail investors can apply for a minimum of 2 lots, each consisting of 1,600 shares, worth ₹2,81,600. Moreover, HNIs are required to bid for a minimum of 3 lots (2,400 shares) worth ₹4,22,400.

Who is the registrar of the Brandman Retail IPO?

ipo@bigshareoline.com or at +91-22-6263 8200.

Disclaimer: The above information is compiled from authentic sources and is just for informational purposes. To have detailed information about the Brandman Retail IPO, download the Brandman Retail IPO RHP and Brandman Retail IPO DRHP. Conduct your research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.