BSE List Price : ₹95.00

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Category	Times
QIBs	71.09x
HNIs	161.3x
Retail	101.28x
Total : 105.61x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	2	3,200	₹236,800
Retail Maximum	2	3,200	₹236,800
S-HNI Minimum	3	4,800	₹355,200
S-HNI Maximum	8	12,800	₹947,200
B-HNI Minimum	9	14,400	₹1,065,600

About the Company

Incorporated in October 2023, Defrail Technologies Limited is involved in the manufacture of a wide range of rubber parts and components. Its product portfolio includes rubber hoses and assemblies, rubber profiles and beadings, and moulded rubber products. These offerings serve multiple industries such as automotive, railways, and defence, and include both standard products as well as customised, application-specific solutions.

The business traces its origins back to 1980 with the establishment of Vikas Rubber Industries. In 2008, Impex Hitech Rubber was set up to cater to B2B customers with advanced manufacturing capabilities. Effective April 1, 2024, both businesses were merged into Defrail Technologies Limited through Business Transfer Agreements, creating a single, integrated entity with enhanced operational strength.

Defrail Technologies primarily follows a B2B business model, supplying large-volume orders to automotive clients. In addition, the company also serves the B2G segment, supplying products to government bodies including Indian Railways and defence establishments.

The company operates two manufacturing units situated in Faridabad, Haryana.

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

Company Promoter

Mr. Vivek Aggarwal

Mr. Abhishek Aggarwal

Ms. Ashi Aggarwal

Mr. Dinesh Aggarwal.

Know before investing

• • Strengths

  Experienced Management Team: The company is managed by promoters who possess 14–16 years of experience in the rubber industry. Their industry knowledge has played a key role in achieving steady growth. The promoters are supported by a competent management and workforce, ensuring smooth operations and well-informed strategic decisions.

  RDSO-Approved Vendor: Defrail Technologies has received RDSO approval effective July 8, 2024, for products including Air Brake Hose Coupling, Brake Pipe, and Feed Pipe. This approval enhances the company’s credibility, allows participation in Indian Railways’ supply ecosystem, improves competitiveness in tenders, and demonstrates compliance with stringent safety and quality requirements.

• • Risks

  High Dependence on the Automobile Sector: A significant portion of the company’s revenue is derived from the Indian automobile industry. Any decline in demand, regulatory changes, or slowdown in this sector could negatively affect the company’s operations, financial performance, and growth prospects.

  Revenue Concentration from Limited Customers: A substantial share of the company’s revenue is generated from a small group of customers, which increases exposure to customer-specific risks. Any loss of a key customer or decline in order volumes from such customers could have a material adverse effect on the company’s financial position and future prospects.

Objects of the Issue & Utilisation of proceeds

Purchase of equipment/machineries
Purchase and installation of Solar Panel
General Corporate Purpose

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

IPO Review

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