Brandman Retail IPO Soars: 114x Subscribed, Debuts with Upper Circuit Gain

• Brandman Retail IPO listed on NSE SME with a premium entry, closing at upper circuit of ₹192.15.
• The IPO was oversubscribed 114.48 times, with strong interest from QIBs, NIIs, and retail investors.
• Shares issued at ₹176, debuted at ₹183, providing a 3.98% listing gain; closed with 9.18% profit.
• Funds from the ₹86 crore IPO will be used for new EBOs/MBOs, working capital, and general corporate purposes.
• Brandman Retail, established in 2021, sells international sports and lifestyle brands, operating 11 EBOs and 2 MBOs.