🔴 LIVE UPDATE – 06 Feb 2026
Brandman Retail IPO grey market activity remains largely unchanged, with no fresh premium expansion reported. Market liquidity remains thin, with participants awaiting official subscription data.
Last updated: 06 Feb 2026 | 13:32 IST
🧠 PositionalCalls Institutional View
Latest NSE data shows strong participation across all categories, with significant demand from both retail and non-institutional investors. Institutional bids have also emerged, indicating improving smart-money confidence.
📊 Capital Flow Signal
Positive – broad-based demand across QIB, NII, and retail segments.
👀 Key Triggers to Monitor
- Final QIB subscription strength
- Last-hour institutional bids
- Price-band demand concentration
Brandman Retail IPO GMP Today
NSE-verified subscription data, capital flow analysis, business overview, and institutional-style listing outlook.
Brandman Retail IPO Snapshot
| IPO Opening Date | 04 Feb 2026 |
|---|---|
| IPO Closing Date | 06 Feb 2026 |
| UPI Mandate Cut-off | 06 Feb 2026 (5:00 PM) |
| Price Band | ₹167–₹176 per share |
| Lot Size | 800 shares |
| Issue Size | 48,91,200 shares |
| Exchange | NSE SME |
Issue Structure & Process
The Brandman Retail IPO is a book-built issue comprising a fresh issue of equity shares. Investors applying through UPI must confirm the mandate before the cut-off time to ensure a valid application.
📊 Official Subscription Book (NSE – 06 Feb 2026, 13:32)
| Category | Applications | Shares Bid |
|---|---|---|
| QIB | 16 | 1,64,91,200 |
| NII | 10,610 | 5,42,88,800 |
| Retail | 36,189 | 5,79,02,400 |
| Total | 46,815 | 12,86,82,400 |
📊 Price-wise Demand Distribution (NSE)
| Price (₹) | Cumulative Quantity |
|---|---|
| 176 | 12,53,53,600 |
| 175 | 12,53,66,400 |
| 173 | 12,53,68,000 |
| 172 | 12,53,69,600 |
| 171 | 12,53,74,400 |
| 170 | 12,53,88,800 |
| 169 | 12,53,90,400 |
| 168 | 12,53,96,800 |
| 167 | 12,54,91,200 |
Source: NSE SME Bid Data
🧠 Capital Flow Analysis
- Strong participation across all investor categories.
- Retail and NII segments driving the majority of demand.
- QIB bids indicate improving institutional interest.
- Balanced bids across the price band suggest stable book building.
📈 Listing Scenario Model
| Scenario | Probability | Expected Outcome |
|---|---|---|
| Bull Case | 35% | Strong listing on broad demand |
| Base Case | 50% | Moderate listing near upper band |
| Bear Case | 15% | Flat listing if sentiment weakens |
GMP Overview
Grey Market Premium (GMP) is an unofficial indicator and not published by NSE or SEBI.
Current GMP: Not disclosed officially
Business Overview
Brandman Retail Limited operates in the distribution and retail of branded lifestyle products, including footwear, apparel, and accessories. The company focuses on domestic retail demand through its established distribution network.
Registrar & Intermediaries
| Lead Manager | Gretex Corporate Services Limited |
|---|---|
| Sponsor Bank | Kotak Mahindra Bank Limited |
| Registrar | Big Share Services Private Limited |
Key Risks
- SME post-listing liquidity risks
- Retail-driven demand sensitivity
- Working capital and execution risks
- Short operating history compared to mainboard companies
Investor Suitability
This page provides an institutional-style analysis of the Brandman Retail IPO. Investors should evaluate official subscription data and risk factors before making participation decisions.
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Disclaimer
This content is for educational and informational purposes only and does not constitute investment advice. Investors should verify all data from official NSE disclosures and the company’s Red Herring Prospectus.
Shubham Chaudhary is the founder of PositionalCalls, an independent Indian stock market research website. He writes company fundamentals, quarterly results analysis, IPO analysis and sector research for NSE and BSE listed companies, with a focus on banking stocks, insurance and long-term value investing. Every article is built from primary sources such as RBI, SEBI, NSE and BSE filings and company annual reports, and states its risks plainly in simple language for retail investors.
Coverage areas Our research standards- Numbers checked against NSE, BSE and SEBI filings
- Risks and limits stated in every article
- No paid promotions or broker tie-ups
- Articles updated when new filings arrive