Defrail Technologies IPO gets 105x subscription on final day
Defrail Technologies's IPO saw huge interest, getting subscribed over 105 times by closing day.
The company raised ₹13.77 crore by selling 18.6 lakh shares at ₹70-74 each between January 9 and January 13.
Demand came from all corners—big institutions, savvy investors, and regular folks alike.
Who was bidding?
Qualified institutional buyers went after the IPO with bids for over 250 lakh shares (71x their quota).
Non-institutional investors were even more enthusiastic, subscribing nearly 161 times their portion.
Retail investors also showed up strong, bidding for more than 631 lakh shares—over 100 times what was available to them.
What does Defrail Technologies do?
Defrail makes rubber hoses, assemblies, and molded parts for cars, trains, and defense projects—all from its two plants in Faridabad, Haryana.
Money from the IPO will help fund new equipment and general business needs.
Nexgen Financial Solutions managed the issue; Maashitla Securities handled the paperwork.