The opening date for the Defrel Technologies IPO is January 9, 2026, and the IPO will close on January 13, 2026. The Defrel Technologies IPO is a book-build issue. The company will raise approximately ₹14 crore through the IPO, which includes a fresh issue of ₹14 crore and an offer for sale of ₹10 face value [.] equity shares.
The price band for the Defrel Technologies IPO is ₹70 to ₹74 per share. The retail quota is 35%, QIB 50%, and HNI 15%. The Defrel Technologies IPO will be listed on the BSE on January 16, 2026. The allotment date for the Defrel Technologies IPO is January 14, 2026.
The company reported revenue of ₹62.22 crore in 2025, compared to ₹0.72 crore in 2024. The company reported a profit of ₹3.42 crore in 2025, compared to a profit of ₹0.11 crore in 2024. According to financials, IPO investors should apply for the IPO for the long term.
About the Company
Incorporated in October 2023, Defrel Technologies Limited manufactures rubber parts and components, including rubber hoses and assemblies, rubber profiles and beading, and molded rubber products. These products meet the needs of diverse sectors such as automotive, railway, and defense, and include both standard items and customized, application-specific solutions.
The company originated as Vikas Rubber Industries in 1980, followed by the creation of Impex Hi-Tech Rubber in 2008 to meet the needs of B2B clients with enhanced manufacturing capabilities. On April 1, 2024, the two companies merged into Defrel Technologies Limited under a business transfer agreement, creating a unified platform with increased operational efficiencies.
Defrel Technologies operates primarily on a B2B business model, placing bulk orders with automotive customers, while also serving the B2G segment, which includes government authorities such as the Indian Railways and defense organizations.
The company operates two manufacturing facilities in Faridabad, Haryana:
Neemka, Tigaon Road, Sector 71 – 2,420 sq. yards
Sector 24, Faridabad – 4,833.33 sq. yards
These plants are equipped with advanced machinery capable of producing a wide range of rubber components, including diesel and petroleum hoses, LPG hoses, nylon tubes, gaskets, grommets, air intake hoses, EPDM profiles, sponges, and aluminum window beading.
Difrel Technologies is ISO 9001:2015 certified, demonstrating adherence to a quality management system, and is also registered as a seller on the Government e-Marketplace (GeM), enabling it to participate in government procurement processes and vendor tenders.
Strengths
Experienced Management Team: The company is led by promoters with 14-16 years of experience in the rubber industry. Their expertise has contributed to its consistent growth. A skilled management and staff team contribute to efficient operations and strategic decision-making.
RDSO-Approved Vendor: Difrel Technologies is an RDSO-approved vendor for air brake hose couplings, brake pipes, and feed pipes (effective July 8, 2024). This enhances trust, enables participation in the Indian Railways supply chain, strengthens tender competitiveness, and demonstrates adherence to high standards of safety and quality.
Diverse Product Portfolio: The company manufactures a wide variety of rubber parts used in the automobile, railway, and defense sectors. This diversified portfolio reduces dependence on any single industry and helps mitigate sector-specific risks.
Weaknesses
Overdependence on the Automobile Sector: The company's revenue is largely driven by demand from the Indian automobile sector. Any slowdown, regulatory changes, or decline in demand in this sector could adversely impact business performance, financial results, and overall growth.
Dependence on Leased Facilities: The registered office and manufacturing facilities are leased, not owned. Non-renewal, termination, or rent increases in these agreements could disrupt operations and increase costs.
Revenue Concentration from a Few Customers: A significant portion of revenue is generated from a few customers, exposing the company to contractual risks. Losing any major customer or reducing their order volume can have a significant impact on the company's financial health and prospects.
Defrail Technologies IPO Details
| IPO Open Date | January 9, 2026 |
| IPO Close Date | January 13, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹70 to ₹74 Per Share |
| Issue Size | Approx ₹14 Crores |
| Fresh Issue | Approx ₹14 Crores |
| Issue Type | Book Build Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Defrail Technologies IPO Market Lot
The Defrail Technologies IPO minimum market lot is 3,200 shares with ₹2,36,800 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 3,200 | ₹2,36,800 |
| Retail Maximum | 2 | 3,200 | ₹2,36,800 |
| S-HNI Minimum | 3 | 4,800 | ₹3,55,200 |
| S-HNI Maximum | 8 | 12,800 | ₹9,47,200 |
| B-HNI Minimum | 9 | 14,400 | ₹10,65,600 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 5,18,400 Shares | 27.86% |
| QIB (Ex. Anchor) | 3,55,200 Shares | 19.09% |
| NII Shares Offered | 2,68,800 Shares | 14.45% |
| Retail Shares Offered | 6,24,000 Shares | 33.53% |
Defrail Technologies IPO Anchor Investors
| Anchor Bidding Date | January 8, 2026 |
| Anchor Investors List | |
| Shares Offered | 5,18,400 Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | February 13, 2026 |
| lock-in period end date 50% shares (90 Days) | April 14, 2026 |
Defrail Technologies IPO Dates
The Defrail Technologies IPO date is January 9 and the close date is January 13. The Defrail Technologies IPO allotment will be finalized on January 14 and the IPO listing on January 16.
| IPO Open Date: | January 9, 2026 |
| IPO Close Date: | January 13, 2026 |
| Basis of Allotment: | January 14, 2026 |
| Refunds: | January 15, 2026 |
| Credit to Demat Account: | January 15, 2026 |
| IPO Listing Date: | January 16, 2026 |
| IPO Bidding Cut-off Time: | January 13, 2026 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Mr. Vivek Aggarwal, Mr. Abhishek Aggarwal, Ms. Ashi Aggarwal, and Mr. Dinesh Aggarwal.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 51,63,620 | 100% |
| Promoter Holding Post Issue | 70,24,420 | -% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Purchase of equipment/machineries | ₹7.96 |
| Purchase and installation of Solar Panel | ₹1.73 |
| General Corporate Purpose | ₹- |
Defrail Technologies IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2024 | ₹0.72 | ₹0.57 | ₹0.11 | ₹1.22 |
| 2025 | ₹62.22 | ₹58.24 | ₹3.42 | ₹33.91 |
| September 2025 | ₹39.08 | ₹36.48 | ₹1.51 | ₹37.22 |
Defrail Technologies IPO Valuation – FY2025
Check Defrail Technologies IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 73.72% |
| ROCE: | 24.43% |
| EBITDA Margin: | 9.29% |
| PAT Margin: | 5.49% |
| Debt to equity ratio: | 1.27 |
| Earning Per Share (EPS): | ₹6.62 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 73.72% |
| Net Asset Value (NAV): | ₹17.66 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Pentagon Rubber Limited | 0.82 | 86.59 | 1.95% | 4.22 | 0.63 Cr. |
| Gujrat Reclaim & Rubber Product Limited | 6.36 | 265.72 | 1.73% | 36.14 | 3.39 Cr. |
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IPO Lead Managers aka Merchant Bankers
- NEXGEN Financial Solutions Pvt. Ltd.
Company Address
Defrail Technologies Ltd.
Plot no. 180, Sector 24,
Sector 22,
Faridabad, Haryana, 121005
Phone: 0129 – 487 8760
Email: cs@defrailtech.com
Website: https://www.defrailtech.in/
IPO Registrar
Maashitla Securities Pvt. Ltd.
Phone: +91-11-45121795-96
Email: investor.ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues