Brandman Retail IPO Day 1: Check subscription status, price band, lot size and key dates

Brandman Retail IPO: The initial public offering of Brandman Retail Ltd, a retail and distribution platform for premium international brands, opened for subscription on Wednesday, February 4. The issue will conclude on Friday, February 6.

The ₹86.09 crore initial share sale is exclusively a fresh issuance of 48.91 lakh shares, with no offer for sale component.

The fresh issue proceeds will be utilised for the following objectives:

• Funding capital expenditure for expansion of retail network by launching 15 new exclusive brand outlets (EBOs)/multi-brand outlets (MBOs)
• Working capital needs for new and existing EBOs and MBOs
• General corporate purposes

"The proceeds from the fresh issue will support expansion of the retail network, refurbishment of existing outlets, and strengthening of working capital to enhance operational efficiency and execution across channels," Arun Malhotra, Promoter, MD and Chairman of Brandman Retail Ltd, said.

Brandman Retail IPO Day 1: Subscription status

The issue has been subscribed 22% so far on the first day of subscription, with bids for 7,55,200 shares as against 34,99,200 shares on offer, according to the NSE data until 12:34 pm.

Brandman Retail IPO: Price band and lot size

The price band has been fixed at ₹167 to ₹176 per share and a lot consists of 800 shares. Individual investors can apply for a minimum of two lots or 1,600 shares.

Before the IPO, the company raised ₹24.49 crore from anchor investors, including Sanshi Fund-I, Bharat Venture Opportunities Fund, Founders Collective Fund, and India Max Investment Fund Ltd.

Brandman Retail IPO: Allotment and listing date

• Subscription period: February 4 to February 6
• Finalisation of basis of allotment: February 9
• Initiation of refunds: February 10
• Credit of equity shares: February 10
• Listing on NSE SME platform Emerge: February 11

Brandman Retail Ltd is a company owned and company operated (COCO)-led retail strategy and an agile multi-channel operator of premium apparel, footwear and accessories.

Gretex Corporate Services is the IPO's lone book-running lead manager.

Brandman Retail IPO GMP

According to investorgain.com and media reports, unlisted shares of Brandman Retail are trading at ₹188, reflecting a grey market premium of 6.82% over the upper price band of ₹176.