Brandman Retail was incorporated on July 07, 2021. The company distributes and retails premium international brands through exclusive stores, multi-brand outlets, e-commerce platforms, and wholesale supply to partner retailers across online and offline channels
| Bidding Dates |
|---|
| 04 Feb 2026 - 06 Feb 2026 |
| Subscription |
|---|
| 106.54x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,67,200 | 2 | 2 | 800 | 4.9 M | ₹167 - ₹176 | 69.02 % | ₹816.8 M - ₹860.9 M | RHP DOC |
Brandman Retail IPO SUBSCRIPTION STATUS
06 Feb '26Brandman Retail IPO overall subscription rate was 106.54 times the total available shares
Brandman Retail IPO retail subscription rate was 123.72 times in the retail segment
Brandman Retail IPO non-institutional investor subscription rate was 270.86 times in the non-institutional investor category
Brandman Retail IPO Qualified Institutional Bidder subscription rate was 45.21 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
06 Feb 2026 (Day 3) | 123.72x | 270.86x | 45.21x |
05 Feb 2026 (Day 2) | 7.57x | 12.91x | 0x |
04 Feb 2026 (Day 1) | 1.11x | 1.88x | - |
Brandman Retail 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 |
| 9MFY26 | 95.3 | 19.7 | -12.0 | -15.8 | 28.4% |
| FY25 | 135.3 | 21.0 | -0.7 | -3.3 | 23.0% |
| FY24 | 123.3 | 8.3 | 1.7 | -1.5 | 9.7% |
| FY23 | 46.3 | 0.4 | -1.3 | -1.7 | 2.2% |
Brandman Retail IPO SUBSCRIPTION STATUS DETAILS
Brandman Retail had 4.9 M shares on offer
Brandman Retail IPO offer price was in the range ₹167 - ₹176
Brandman Retail IPO minimum Investment was ₹267200
Brandman Retail IPO issue size was ₹ 816.8 M - ₹ 860.9 M
Brandman Retail had a minimum lot size of 800 Shares per application
Brandman Retail NUMBER OF SHARES ON OFFER
Brandman Retail IPO IMPORTANT DATES
| Issue Open Date | 04 Feb 2026 |
| Issue close Date | 06 Feb 2026 |
| Allotment Date | 09 Feb 2026 |
| Refund Date | 10 Feb 2026 |
| Demat Account Credit Date | 10 Feb 2026 |
| Listing Date | 11 Feb 2026 |
| Listing on Exchange(s) | NSE |
| Brandman Retail Allotment Status | Exchange/ Registrar |
Brandman Retail IPO subscription opened on 04 Feb 2026, and closed on 06 Feb 2026
IPO allotment for Brandman Retail was finalized on Monday, 09 Feb 2026
IPO listing for Brandman Retail was on NSE on Wednesday, 11 Feb 2026
Brandman Retail IPO LISTING GAINS
| Issue Price (adjusted) | 176.0 |
| Listing Open Price | 183.0 |
| Listing Close Price | 192.2 |
| Listing Gain% | 4.0% |
| Current Gain% | 1.1% |
Brandman Retail 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brandman Retail Ltd. | 178 | 328.5 | 13 | 0.6 | 1.9 | 17.8 | 12.2 | 171.7 | 25.9 | 25.3 | 20.7 | 13.7 | 20.7 |
| Metro Brands Ltd. | 972.5 | 26507 | 65.2 | 4.8 | 9 | 20.6 | 10.2 | 2967.8 | 14.1 | 411.2 | 17.3 | 14.9 | 13.7 |
| Relaxo Footwears Ltd. | 423.4 | 10541.3 | 58.8 | 11.2 | 3.9 | 8.1 | 6.1 | 2748.4 | -2.4 | 179.3 | 5.2 | 7.2 | 5.2 |
| Bata India Ltd. | 720.5 | 9260.4 | 69 | -1.2 | 2.6 | 8.4 | 3.6 | 3594.7 | 1.1 | 134.2 | -59.4 | 10.4 | -59.4 |
| Redtape Ltd. | 140 | 7737.6 | 32.2 | 0.8 | 3.2 | 23.6 | 10.4 | 2551.6 | 24.3 | 240.6 | 41.5 | 4.4 | 41.3 |
| Campus Activewear Ltd. | 224.4 | 6858.5 | 44.5 | 1.5 | 3.8 | 16.6 | 10.2 | 1797 | 11.8 | 150.1 | 23.9 | 5 | 30.5 |
Brandman Retail INFORMATION ON IPO ISSUE
About Brandman Retail
Brandman Retail was incorporated on July 07, 2021. The company distributes and retails premium international brands through exclusive stores, multi-brand outlets, e-commerce platforms, and wholesale supply to partner retailers across online and offline channels
Object of the Issue
- Funding capital expenditure for the expansion of the retail network by launching 15 new exclusive brand outlets (EBOs) / multi-brand outlets (MBOs)
- Working capital requirements for new EBOs and MBOs
- Working capital requirements for existing EBOs and MBOs
- General corporate purposes
- To meet the issue expenses
Brandman Retail - PROMOTERS
| Name |
|---|
| Arun Malhotra |
| Kavya Malhotra |
| Kashika Malhotra |
Brandman Retail - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Arun Malhotra | Chairman and Managing Director |
| Kavya Malhotra | Whole-Time Director |
| Kashika Malhotra | Non-Executive Director |
| Paul Jonathan Silvertown | Independent Director |
| Philippe Dubois | Independent Director |
| Neha Shukla | Independent Director |
Brandman Retail Book Running Lead Manager
Gretex Corporate Services Limited
info@gretexgroup.com
Brandman Retail Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Brandman Retail Strengths
Omni-channel presence
The company operates through multiple channels, including exclusive and multi-brand outlets, e-commerce marketplaces, and its own online store. This integrated approach allows it to reach diverse customer segments and adapt to changing consumer preferences
Prime store locations
The company’s stores are strategically located in North Indian states, particularly in high-footfall areas such as high streets and retail clusters. This enhances customer accessibility, visibility, and brand presence in key markets
Global product access
The company offers a broad product portfolio, including apparel, footwear, accessories, and equipment. Through non-exclusive distribution agreements with international brands, it provides customers in India access to global products across its retail and online channels
Brandman Retail Risks
Footwear dependence
The company derives a large portion of its revenue from footwear products. Any decline in demand, shift in consumer preferences, or increased competition in this segment could materially affect its business performance and financial results
Brand agreement risk
The company relies on non-exclusive supply and distribution arrangements with several international brands. These agreements allow brands to appoint other distributors, which may increase competition and pricing pressure. Any termination, non-renewal, or unfavourable changes in these arrangements could adversely impact revenue and operations
Marketplace contract risk
The company depends significantly on agreements with e-commerce platforms and large retailers. These contracts include strict performance and compliance requirements, with penalties for delays or non-fulfilment. Any breach, penalty, or termination of such agreements could negatively affect the company’s operations
IPO FAQs
The promoters of the company are Arun Malhotra, Kavya Malhotra and Kashika Malhotra.
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 167.0 - 176.0.
The IPO application opens on Feb 04, 2026 and closes on Feb 06, 2026.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 267,200.0, the maximum value for this IPO is Rs 281,600.0.
This IPO will be allotted on Feb 09, 2026.
The refund will be credited to your account on Feb 10, 2026.
The allotted shares will be credited to your demat on Feb 10, 2026.
Brandman Retail Ltd.’s shares listed on the stock exchanges on Feb 11, 2026.