Defrail Technologies was incorporated on October 09, 2023. The company manufactures rubber parts and components such as rubber hoses, profiles, beadings, and moulded parts for automotive, railways, and defence industries. It also supports customers with product selection, design, and customized solutions based on application needs
| Bidding Dates |
|---|
| 09 Jan 2026 - 13 Jan 2026 |
| Subscription |
|---|
| 98.19x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,24,000 | 2 | 2 | 1600 | 1.9 M | ₹70 - ₹74 | 73.51 % | ₹130.3 M - ₹137.7 M | RHP DOC |
Defrail Technologies IPO SUBSCRIPTION STATUS
13 Jan '26Defrail Technologies IPO overall subscription rate was 98.19 times the total available shares
Defrail Technologies IPO retail subscription rate was 134.51 times in the retail segment
Defrail Technologies IPO non-institutional investor subscription rate was 215.33 times in the non-institutional investor category
Defrail Technologies IPO Qualified Institutional Bidder subscription rate was 37.62 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
13 Jan 2026 (Day 3) | 134.51x | 215.33x | 37.62x |
12 Jan 2026 (Day 2) | 24.01x | 16.62x | 0x |
09 Jan 2026 (Day 1) | 1.62x | 1.17x | - |
Defrail Technologies FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| H1FY26 | 39.1 | 1.5 | 1.4 | 0.3 | 8.8% |
| FY25 | 62.2 | 3.4 | -1.6 | -5.2 | 9.3% |
| FY24 | 0.7 | 0.1 | -0.1 | -0.3 | 19.9% |
Defrail Technologies IPO SUBSCRIPTION STATUS DETAILS
Defrail Technologies had 1.9 M shares on offer
Defrail Technologies IPO offer price was in the range ₹70 - ₹74
Defrail Technologies IPO minimum Investment was ₹224000
Defrail Technologies IPO issue size was ₹ 130.3 M - ₹ 137.7 M
Defrail Technologies had a minimum lot size of 1600 Shares per application
Defrail Technologies NUMBER OF SHARES ON OFFER
Defrail Technologies IPO IMPORTANT DATES
| Issue Open Date | 09 Jan 2026 |
| Issue close Date | 13 Jan 2026 |
| Allotment Date | 14 Jan 2026 |
| Refund Date | 16 Jan 2026 |
| Demat Account Credit Date | 16 Jan 2026 |
| Listing Date | 19 Jan 2026 |
| Listing on Exchange(s) | BSE |
| Defrail Technologies Allotment Status | Exchange/ Registrar |
Defrail Technologies IPO subscription opened on 09 Jan 2026, and closed on 13 Jan 2026
IPO allotment for Defrail Technologies was finalized on Wednesday, 14 Jan 2026
IPO listing for Defrail Technologies was on BSE on Monday, 19 Jan 2026
Defrail Technologies IPO LISTING GAINS
| Issue Price (adjusted) | 74.0 |
| Listing Open Price | 95.0 |
| Listing Close Price | 90.3 |
| Listing Gain% | 28.4% |
| Current Gain% | -6.8% |
Defrail Technologies Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Defrail Technologies Ltd. | 69 | 48.5 | 12.1 | 0.7 | 0.6 | 16.7 | 7.7 | 80.5 | 29.3 | 4 | 17.3 | 5.7 | 17.3 |
| MRF Ltd. | 134190 | 56911.3 | 23.5 | 0.8 | 1.8 | 11.6 | 7.6 | 31653.6 | 10.8 | 2426.1 | 29.8 | 5706.5 | 29.5 |
| Balkrishna Industries Ltd. | 2466.3 | 47677.8 | 33.9 | -10.3 | 4.1 | 11.3 | 7 | 11074.9 | 0.8 | 1243.1 | -24.9 | 72.7 | -3.3 |
| Apollo Tyres Ltd. | 445 | 28262 | 16.5 | 0.2 | 1 | 8.2 | 4.7 | 28604 | 9.1 | 1372.4 | 22.4 | 26.9 | 105.3 |
| Ceat Ltd. | 3723.1 | 15060 | 25.5 | 0.7 | 0.9 | 13.8 | 5 | 15718.4 | 18.8 | 698 | 47.7 | 145.7 | 36.8 |
| JK Tyre & Industries Ltd. | 394.9 | 11384.6 | 17.5 | 0.4 | 0.7 | 12.8 | 4.8 | 16384.3 | 10.9 | 776.1 | 56.8 | 22.6 | 45 |
Defrail Technologies INFORMATION ON IPO ISSUE
About Defrail Technologies
Defrail Technologies was incorporated on October 09, 2023. The company manufactures rubber parts and components such as rubber hoses, profiles, beadings, and moulded parts for automotive, railways, and defence industries. It also supports customers with product selection, design, and customized solutions based on application needs
Object of the Issue
- Capital expenditure
- General corporate purposes
Defrail Technologies - PROMOTERS
| Name |
|---|
| Vivek Aggarwal |
| Abhishek Aggarwal |
| Ashi Aggarwal |
| Dinesh Aggarwal |
Defrail Technologies - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Vivek Aggarwal | Chairman & Managing Director |
| Abhishek Aggarwal | Director |
| Ashi Aggarwal | Non-Executive Director |
| Vivek Karnavat | Independent Director |
| Neetu Dhulia | Independent Director |
| Rajesh Agrawal | Independent Director |
| Vikram Grover | Independent Director |
Defrail Technologies Book Running Lead Manager
Nexgen Financial Solutions Private Limited
ipo@nexgenfin.com
Defrail Technologies Registrar to the issue
Maashitla Securities Private Limited
investor.ipo@maashitla.com
Defrail Technologies Strengths
Diversified product range
The company manufactures a wide range of rubber components, including hoses, seals, gaskets, bellows, and moulded parts, serving the automobile, railways, and defence sectors. Its diversified end-market presence reduces dependence on any single industry and mitigates sector-specific risks
Testing & R&D centre
The company operates a well-equipped Testing Laboratory and R&D Centre that supports product design, development, and testing to meet customer specifications. This facility focuses on continuous improvement and innovation, helping evaluate product performance and durability under real-world conditions
RDSO approved vendor status
The company received RDSO approval on 8 July 2024 for manufacturing and supplying air brake hose coupling, brake pipe, and feed pipe, enabling participation in the Indian Railways supply chain. This approval enhances credibility, tender competitiveness, collaboration opportunities, and demonstrates commitment to safety and reliability standards
Defrail Technologies Risks
Depend on automobile sector
The company is heavily dependent on the performance of the Indian automobile sector, as its product portfolio is largely focused on supplying rubber products to this industry. Any decline in automobile demand or adverse market conditions could significantly impact its business, operating results, and financial condition due to limited diversification
Inventory management
Any failure to manage inventory effectively could adversely affect the company’s manufacturing revenues, operations, and financial condition. Inefficient handling of raw materials, work-in-progress, or finished goods may increase costs, disrupt operations, and lead to lost business opportunities
Depend on third-party logistics
The company is fully dependent on third-party logistics providers for transporting raw materials and finished products, as it does not have in-house transportation facilities. The absence of long-term agreements with such service providers may expose the company to risks related to availability, cost, and timely delivery
IPO FAQs
The promoters of the company are Vivek Aggarwal, Abhishek Aggarwal, Ashi Aggarwal and Dinesh Aggarwal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 70.0 - 74.0.
The IPO application opens on Jan 09, 2026 and closes on Jan 13, 2026.
The minimum lot size for the IPO is 3200. The maximum lot size for the IPO is 3200.
For all category investors, the minimum application amount for this IPO is Rs. 224,000.0, the maximum value for this IPO is Rs 236,800.0.
This IPO will be allotted on Jan 14, 2026.
The refund will be credited to your account on Jan 16, 2026.
The allotted shares will be credited to your demat on Jan 16, 2026.
Defrail Technologies Ltd.’s shares listed on the stock exchanges on Jan 19, 2026.