Defrail Technologies shares pop 28% on debut, hit upper circuit
Defrail Technologies had a strong start on the BSE SME platform, opening at ₹95—28% above its IPO price of ₹74.
The stock quickly hit the upper circuit at ₹99.75, up nearly 35%, even as the broader market slipped.
IPO highlights: Massive demand
The company's IPO raised ₹13.77 crore by issuing 18.6 lakh new shares, priced between ₹70-₹74 each (minimum lot: 1,600 shares).
Investors rushed in—the offer was subscribed over 98 times during January 9-13, 2026.
What does Defrail Technologies actually do?
Based in Haryana, Defrail makes rubber hoses and molded parts for cars, trains, and defense companies—basically supplying custom components to big manufacturers (OEMs).
In FY2025 (Apr 1, 2024 - Mar 31, 2025) they posted ₹62 crore revenue with a profit of ₹3.42 crore; for H1 FY2026 (Apr-Sep 2025) they recorded ₹39 crore revenue with a profit of about ₹1.51 crore.