Defrail Technologies Ltd. IPO

Incorporated in October 2023, Defrail Technologies Limited is engaged in the business of manufacturing rubber parts and components, including rubber hoses and assemblies, rubber profiles and beadings, and moulded rubber parts. Its products find applications across industries such as automotive, railways, and defence, with the company offering clients both standard products and customised solutions tailored to their operational requirements.

The company operates two manufacturing plants in Faridabad, Haryana:

  • Neemka, Tigaon Road, Sector 71 (2,420 sq. yards)

  • Sector 24, Faridabad (4,833.33 sq. yards)

Defrail Technologies traces its origins to 1980 with the establishment of Vikas Rubber Industries, followed by the formation of Impex Hitech Rubber in 2008 to serve B2B customers with expanded capabilities. On April 1, 2024, both businesses were consolidated into Defrail Technologies Limited through Business Transfer Agreements. The company primarily operates on a B2B model, supplying bulk orders to clients in the automotive sector, while also serving the B2G segment by delivering products directly to government authorities such as Indian Railways and the Defence.

These facilities are equipped with advanced machinery enabling the production of a wide range of rubber products, including diesel and petroleum hose pipes, LPG hose pipes, nylon tubes, gaskets, grommets, air intake hoses, EPDM profiles, sponges, and aluminium window rubber beadings.

The company is ISO 9001:2015 certified for quality management systems. It is registered as a seller on the Government e-Marketplace (GeM), enabling participation in government procurement tenders and vendor contracts.

As of November 30, 2025, the company has 298 permanent employees.

Competitive Strength:

  • The company has experienced management with strong knowledge of its industry and operations.
  •  The company is an RDSO-approved vendor, enabling it to supply products to the Indian Railways sector.

  • The company offers a diversified product range that caters to multiple industries.

  • The company maintains strong relationships with both customers and suppliers, which support stable, consistent business operations.

  • The company has an in-house testing and research and development center, supporting product quality and innovation.

Company Financials (Restated Consolidated)

Period Ended30 Sep 202531 Mar 202531 Mar 2024
Assets37.2233.911.22
Total Income39.0862.220.72
Profit After Tax1.513.420.11
EBITDA3.445.780.14
NET Worth10.629.120.16
Reserves and Surplus5.463.960.11
Total Borrowing11.7811.560.41
Amount in ₹ Crore
 

Key Performance Indicator (KPI)

KPIValues
ROE73.72%
ROCE24.43%
Debt/Equity1.27
RoNW73.72%
PAT Margin5.49%
EBITDA Margin9.29%

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

#Issue ObjectsEst Amt (₹ Cr.)
1Purchase of equipment/machineries7.96
2Purchase and installation of Solar Panel1.73
3General Corporate Purposes 

Defrail Technologies IPO Details

IPO Date 9 to 13 Jan, 2026
Listing Date Fri, Jan 16, 2026T
Face Value ₹10 per share
Sale Type Fresh Capital
Issue Type Bookbuilding IPO
Listing At BSE SME
Total Issue Size 18,60,800 shares (agg. up to ₹[.] Cr)
Reserved for Market Maker
94,400 shares (agg. up to ₹[.] Cr)
Net Offered to Public 17,66,400 shares (agg. up to ₹[.] Cr)
Share Holding Pre Issue 51,63,620 shares
Share Holding Post Issue 70,24,420 shares

Defrail Technologies IPO Promoter Holding

Mr. Vivek Aggarwal, Mr. Abhishek Aggarwal, Ms. Ashi Aggarwal, and Mr. Dinesh Aggarwal are the promoters of the company.

Share Holding Pre Issue100%
Share Holding Post Issue 

SHARIAH SCREENING for - Defrail Technologies Ltd. IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

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