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Admach Systems IPO vs Narmadesh Brass Industries IPO

Comparison between Admach Systems IPO and Narmadesh Brass Industries IPO.

IPO Details

Admach Systems IPO is a SME Fixed Price IPO proposed to list at BSE SME while Narmadesh Brass Industries IPO is a SME Fixed Price proposed to list at BSE SME.

 Admach Systems IPONarmadesh Brass Industries IPO
LogoAdmach Systems IPO LogoNarmadesh Brass Industries IPO Logo
Issue CategorySMESME
Issue TypeIPOIPO
Process TypeBookbuildingFixed Price
Listing AtBSE SMEBSE SME
Lead ManagersAftertrade Broking Pvt.Ltd.Aryaman Financial Services Ltd.
RegistrarMaashitla Securities Pvt.Ltd.Kfin Technologies Ltd.
Market MakerAftertrade Broking Pvt.Ltd.JSK Securities & Services Pvt.Ltd.
DRHPDRHP DRHP
RHPRHP
Final ProspectusFinal Prospectus Final Prospectus
Anchor InvestorAnchor Investor
IPO Allotment URLIPO Allotment URL IPO Allotment URL

Issue Size and Price

The total issue size of Admach Systems IPO is up to ₹40.47 Cr whereas the issue size of the Narmadesh Brass Industries IPO is up to ₹42.52 Cr. The final issue price of Admach Systems IPO is ₹239.00 per share and of Narmadesh Brass Industries IPO is ₹515.00 per share.

 Admach Systems IPONarmadesh Brass Industries IPO
Face Value₹10 per share₹10 per share
Issue Price (Lower)₹227.00 per share
Issue Price (Upper)₹239.00 per share
Issue Price (Final)₹239.00 per share₹515.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size600 shares240 shares
Fresh Issue Size16,93,200 shares6,55,200 shares
Fresh Issue Size (Amount)up to ₹40.47 Crup to ₹33.74 Cr
OFS Issue Size0 shares1,70,400 shares
OFS Issue Size (Amount)up to ₹0.00 Crup to ₹8.78 Cr
Issue Size Total16,93,200 shares8,25,600 shares
Issue Size Total (Amount)up to ₹40.47 Crup to ₹42.52 Cr

IPO Timetable

Admach Systems IPO opens on Dec 23, 2025, while Narmadesh Brass Industries IPO opens on Jan 12, 2026. The closing date of Admach Systems IPO and Narmadesh Brass Industries IPO is Dec 26, 2025, and Jan 16, 2026, respectively.

 Admach Systems IPONarmadesh Brass Industries IPO
Anchor Bid DateDec 22, 2025
Issue OpenDec 23, 2025Jan 12, 2026
Issue CloseDec 26, 2025Jan 16, 2026
Basis Of Allotment (Tentative)Dec 29, 2025Jan 19, 2026
Initiation of Refunds (Tentative)Dec 30, 2025Jan 20, 2026
Credit of Share (Tentative)Dec 30, 2025Jan 20, 2026
Listing date (Tentative)Dec 31, 2025Jan 21, 2026
Anchor Lockin End date 1Jan 30, 2026
Anchor Lockin End date 2Mar 31, 2026

Financials & KPIs

Admach Systems IPO P/E ratio is 19.56, as compared to Narmadesh Brass Industries IPO P/E ratio of 19.63.

 Admach Systems IPONarmadesh Brass Industries IPO
Financials

Company Financials (Restated)

Period Ended30 Jun 202531 Mar 202531 Mar 202431 Mar 2023
Assets60.2255.9035.7819.79
Total Income23.0653.5219.8013.18
Profit After Tax3.026.103.350.10
EBITDA4.4910.316.291.00
NET Worth25.0422.035.732.38
Reserves and Surplus20.0517.043.731.13
Total Borrowing10.1510.6615.598.45
Amount in ₹ Crore

Company Financials (Restated)

Period Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Assets63.1059.6646.6822.00
Total Income34.2188.0579.0660.09
Profit After Tax4.015.727.100.89
EBITDA6.249.3411.412.13
NET Worth22.4611.455.738.30
Reserves and Surplus23.3012.696.97
Total Borrowing19.2124.7322.435.94
Amount in ₹ Crore
Promoter Shareholding (Pre-Issue)71.8799.92
Promoter Shareholding (Post-Issue)52.9571.84
P/E Ratio19.5619.63
Market Cap₹161.87 Cr.₹159.69 Cr.
ROE43.9449.99
ROCE44.0023.29
Debt/Equity0.48
EPS₹12.22₹26.23
RoNW27.6949.99

Shares Offered

In the Admach Systems IPO Retail Individual Investors (RII) are offered 7,21,200 shares while in Narmadesh Brass Industries IPO retail investors are offered 7,21,200 shares. Qualified Institutional Buyers (QIB) are offered 3,81,600 shares in Admach Systems IPO and 0 shares in Narmadesh Brass Industries IPO.

 Admach Systems IPONarmadesh Brass Industries IPO
Anchor Investor Reservation2,10,600 shares0 shares
Market Maker Reservation89,400 shares45,600 shares
QIB3,81,600 shares0 shares
NII3,79,800 shares4,12,800 shares
RII7,21,200 shares4,12,800 shares
Employee0 shares0 shares
Others
Total16,93,200 shares8,25,600 shares

Bids Received (Subscription)

Admach Systems IPO subscribed 3.61x in total, whereas Narmadesh Brass Industries IPO subscribed 1.18x.

 Admach Systems IPONarmadesh Brass Industries IPO
QIB (times)1.55x
NII (times)7.40x1.92x
Big NII (times)9.21x
Small NII (times)3.76x
RII (times)3.77x0.44x
Employee (times)
Other (times)
Total (times)3.61x1.18x

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Compare:

Admach Systems IPO Vs Narmadesh Brass Industries IPO