Defrail Technologies IPO

About Defrail Technologies IPO

The offer consists of a fresh issue component. The fresh issue will include up to 0.19 crore shares of ₹13.77crores. The total number of shares is up to 18,60,800 shares (aggregating up to ₹14 crores).

Defrail Technologies price band is set at ₹70 to ₹74 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,36,800 (3,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (4,800 shares), amounting to ₹3,55,200.

The Defrail Technologies IPO opens on Friday, Jan 9, 2026 and closes on Tuesday, Jan 13, 2026. The allotment of shares will take place on Wednesday, Jan 14, 2026. The credit of shares to the demat account will take place on Thursday, Jan 15, 2026. The initiation of refunds will take place on Thursday, Jan 15, 2026. The listing of shares will take place on Friday, Jan 16, 2026.

Defrail Technologies manufactures a wide range of rubber components used across the automobile, railways, and defence sectors. Their product portfolio comprises items such as hoses, seals, gaskets, bellows, and moulding components. Their company has established business relationships with key customers and suppliers, ensuring a stable supply chain and consistent demand for their products.

Objectives of Defrail Technologies IPO

• Capital expenditure.
• General corporate purposes.

Industry Outlook

The rubber industry has firmly established itself as a key sector in India and is on track to become the second-largest player globally. The rapid expansion of rubber product manufacturing and consumption, driven by positive interventions from institutional agencies aimed at achieving self-sufficiency and import substitution, has been a major factor in the industry's growth and development.

In India, synthetic rubber constitutes about 30% of the total rubber consumption, compared to the significantly higher global average of 65%. To narrow this gap, the government actively promotes the establishment and expansion of synthetic rubber plants across the country.

Defrail Technologies Company Information

Defrail Technologies is engaged in the business of manufacturing rubber parts and components, including Rubber Hose and Assemblies, Rubber Profiles and Beadings, and Rubber Moulding parts. Their products have diverse applications across different industries, including Automotive, Railways, and Defence. They assist clients in selecting the right type of product for their applications while also providing design and customisation options according to the intended use.

Their business primarily operates on a B2B (Business-to-Business) model, supplying rubber products to various industries. Additionally, they cater to the B2G (Business-to-Government) segment as well, where they offer their products directly to government authorities like Railways and Defence.

Strengths of Defrail Technologies

• Experienced management.
• RDSO approved vendor status.
• Diversified product range.
• Strong relationships with customers and suppliers.
• In-house testing and research & development (R&D) centre.

Risks of Defrail Technologies

• Any adverse changes in the conditions affecting the performance of the automobile sector in India.
• Any decline in the demand for Rubber Hose and Assemblies products.
• Loss of a major customer or significant reduction in demand from any of their major customers.
• Any loss of business from the state of Haryana.
• Fluctuations in prices and shortage of raw material.

^^^Revenue from Operations as appearing in the Restated Financial Statements/ Annual Reports of the respective companies.

Note: Industry Peer may be modified for finalization of Issue Price before filing Red Herring Prospectus with ROC. * Sourced from Annual Reports, Unaudited Financials, NSE.

Notes:

• Considering the nature and turnover of business of the Company, the peers are not strictly comparable. However, the same have been included for broader comparison.
  
• The figures for Defrail Technologies are based on the restated standalone results for the year ended September 30, 2025.
  
• The figures for the peer group are based on standalone unaudited results for the year ended September 30, 2025.
  
• Current Market Price (CMP) is the closing price of respective scrip as on December 29, 2025.
  

Anchor Investor Bidding Date: January 08, 2026*

**Subject to Finalization of Basis of Allotment 1. The company, in consultation with the BRLM, has considered participation by Anchor Investors in accordance with the SEBI ICDR Regulations. The Anchor Investor Bidding Date shall be one working day prior to the Issue Opening Date

Registrar: Maashitla Securities Private Limited
Book Running Lead Managers: NEXGEN Financial Solutions Private Limited

Defrail Technologies Business Model

The company earns its revenue through the following: Operating on a B2B (Business-to-Business) model that supplies rubber products to various industries.

Defrail Technologies Growth Trajectory

Defrail Technologies’ Total Income for the financial year 2024-25 stood at ₹62.221 crores, whereas in the financial year 2023-24 it stood at ₹0.717 crores.

Their Profit After Tax for the financial year 2024-25 stood at ₹3.418 crores, whereas for the financial year 2023-24, it stood at ₹0.105 crores.

Their EBITDA increased from ₹0.142 crores in financial year 2023-24 to ₹5.782 crores in financial year 2024-25.

Defrail Technologies Market Position

The company has been granted approval as a Research Designs & Standards Organization (RDSO) approved vendor, effective 8 July 2024, for the manufacturing and supply of Air Brake Hose Coupling, Brake Pipe, and Feed Pipe. This approval allows them to participate in the supply chain of Indian Railways, providing access to a large and structured market. It also enhances their credibility as a qualified supplier, strengthens their position in competitive tenders, and facilitates opportunities for technical collaboration.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹62.221 crores, ₹3.418 crores, and ₹5.782 crores, respectively.

How to apply for Defrail Technologies IPO?

• Step 1: Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.