Brandman Retail shares pop 8.5% on SME debut
Brandman Retail, which brings international sports and lifestyle brands to India, had a lively first day on the NSE SME platform—its shares were being quoted at ₹191 in the gray market, about 8.5% above the top end of its IPO price range (₹167-₹176).
The ₹86 crore IPO was a hit with investors, getting oversubscribed 106 times.
The company's financials
The company runs 11 exclusive stores and two multi-brand outlets in northern India, focusing mainly on global footwear brands. They also sell through platforms like Flipkart and Ajio.
For 2025, they posted a profit of ₹19.67 crore on revenue of ₹97.21 crore.
Plans to use IPO funds to open 15 new stores
Brandman plans to use the IPO funds to open 15 new stores, boost working capital for these outlets, support working capital for existing outlets, and cover general corporate needs—so expect to see more of their brands popping up soon.