Brandman Retail Ltd. IPO to Open Today; Price Band Set at ₹167 to ₹176 Per Share

Mumbai, 4 Feb 2026 – Brandman Retail Ltd’s initial public offering opens for subscription today, February 4, 2026, entering the SME IPO space at a time when investor interest in retail and consumer-facing businesses remains steady. The issue is part of the recent pipeline of SME listings focused on funding expansion and strengthening on-ground presence rather than providing exits to existing shareholders. 

The IPO is entirely a fresh issue, signalling that the company is looking to raise growth capital to scale its operations and deepen its retail footprint. 

Overview of the Brandman Retail IPO 

Brandman Retail’s IPO is a book-built issue aggregating to about ₹86 crore, comprising fresh equity shares only. The price band is fixed at ₹167-₹176 per share, with a face value of ₹10. 

The issue opens on February 4, 2026, and closes on February 6, 2026, with allotment expected on February 9, 2026 and shares are slated to list on the NSE SME platform on February 11, 2026. 

Brandman Retail operates in the distribution and retailing of international sports and lifestyle brands. This is done with a strong focus on Exclusive Brand Outlets (EBOs), particularly for the New Balance brand, across key cities in North India. 

Breakdown of Use of Proceeds 

A large portion of the IPO proceeds will be directed toward expanding Brandman Retail’s physical presence. The company plans to invest about ₹27.9 crore in capital expenditure to open nearly 15 new Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs). This expansion is aimed at strengthening its footprint across key urban markets, where demand for international sports and lifestyle brands is higher. 

In addition to store launches, Brandman Retail will allocate funds toward working capital requirements. Around ₹11.8 crore will be used to support working capital needs for the new outlets, covering inventory stocking, store operations, and initial setup costs.  

Separately, a significant portion of the proceeds will be deployed to meet working capital requirements of existing EBOs and MBOs. This ensures smoother inventory cycles and uninterrupted operations as the store network scales. 

The remaining proceeds will be utilised for general corporate purposes and this allocation is intended to provide operational flexibility and support routine business expenses, helping the company manage growth while maintaining balance-sheet stability. 

Why These Investments Matter 

The planned deployment of about ₹27.9 crore toward launching nearly 15 new EBOs and MBOs is expected to speed up Brandman Retail’s expansion in organised sports and lifestyle retail. With an existing presence across key northern cities, the added stores can strengthen reach in metro and tier-1 markets where demand for international brands is steadily rising. 

Funding working capital for both new and existing outlets should help stabilise operations as the network expands. This support can improve inventory availability, ease cash-flow pressure during store rollouts. This ensures smoother day-to-day functioning. 

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