Brandman Retail Limited IPO

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Brandman Retail Limited was incorporated on July 07, 2021, headquartered in New Delhi and operates in the premium retail and distribution space. The Company is engaged in the distribution and retail of premium international brands through non-exclusive distribution arrangements. It operates a multi-channel business model covering offline retail, online retail, and B2B reseller sales, enabling wide customer reach across India.

Sales Channels & Verticals

1. Offline Retail: Company-Owned and Company-Operated Exclusive Brand Outlets (EBOs) and Multi-Brand Outlets (MBOs) under the brand Sneakrz.

2. Online Retail: Sales through leading e-commerce marketplaces and the Company’s website, with another platform under development.

3. B2B Reseller Sales: Bulk supply to large-format retailers and e-commerce platforms, which is the largest revenue contributor.

Product Portfolio

Brandman Retail offers a diversified range of:

i) Footwear (lifestyle, performance, sports, formal and casual)
ii) Apparel (sportswear and casual wear)
iii) Accessories & equipment (caps, bags, socks, bottles, gloves, belts)

Product offerings are aligned with consumer demand and seasonal trends.

Competitive Strengths

i) Multi-channel retail presence (offline, online and B2B)
ii) Strong promoter experience in premium and luxury branding
iii) Integrated ERP-driven operations
iv) Scalable COCO retail model
v) Diversified product portfolio catering to lifestyle and performance segments

Objects of the Brandman Retail Limited IPO:

Company proposes to utilize the funds towards the following Objects: 1. Capital Expenditure for Expansion of Retail Network by launching 15 new Exclusive Brand Outlets/Multi-Brand Outlets (₹27.9 cr) 2. Capital Requirements for New EBOs and MBOs (₹11.78 cr) 3. Capital Requirements for Existing EBOs and MBOs (₹26.7 cr) 4. General Corporate Purposes
DRHP of Brandman Retail Limited IPO
RHP of Brandman Retail Limited IPO

Brandman Retail Limited IPO Details:

Open Date: Feb 04 2026
Close Date: Feb 06 2026
Total Shares: 48,91,200
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 86 Cr.
Lot Size: 800 Shares
Issue Price: ₹ 167-176 Per Equity Share
Listing At: NSE Emerge
Listing Date: Feb 11 2026

Promoters And Management:

1. Mr. Arun Malhotra, Promoter, Managing Director and Chairman, has been associated with the Company since incorporation. He holds a Bachelor of Commerce degree from the University of Delhi (1989) and has over 22 years of experience in retail branding solutions. He oversees the Company’s overall operations and strategic direction and is also a director of the Company’s subsidiary. His leadership has contributed significantly to business expansion and profitability. 2. Ms. Kavya Malhotra, Promoter and Whole-Time Director, has been on the Board since incorporation. She is a Bachelor of Commerce graduate from the University of Delhi (1995) with over 22 years of experience in retail branding solutions. She is responsible for the Company’s human resources strategy, ensuring alignment with organizational goals and fostering a high-performance workforce. She also serves as a director of the Company’s subsidiary. 3. Ms. Kashika Malhotra, Promoter and Non-Executive Director, holds a Master’s degree in Management and Sustainable Development from the University of St. Andrews, Scotland (2024). She has approximately 1.5 years of experience in the apparel and brand development space and joined the Company on June 13, 2024. She has been serving as Head – Business Development and Partner Brands since July 2024 and is also the Founder and Director of Yoginii Lifestyle Private Limited since February 2025

Financials of Brandman Retail Limited IPO:

Particulars 9M FY2025-26 (Consolidated) FY 2024-25 (Consolidated) FY 2023-2024 (Consolidated) FY 2022-23 (Standalone)
Revenue from Operations (Cr) 95 135 123 46
EBITDA (Cr) 27 31 12 1
EBITDA Margins 28% 23% 10% 2%
PAT (Cr) 20 21 8 0.41
PAT Margins 21.0% 15.5% 6.7% 0.9%
ROCE 36.92% (Not Annualized) 75% 93% 28%
Operating Cash Flows (Cr) -12 -0.69 1.7 -1.3
D/E Ratio 0.26 0.4 0.4 2.91

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT(in cr) PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Brandman Retail Limited 135 23.0% 21 15.5% 75% 0.4 324.85 15.47
Redtape Limited 2021 17% 170 8% 22% 1.08 6,764 37.40
Bata India Limited 3489 22% 331 9.49% 15% 0.9 10899 59
Lehar Footwears Limited 277 9% 11 4.0% 12.4% 0.46 404 18.6
Liberty Shoes Limited 675 10% 14 2.07% 10% 0.73 409 30.7
Note : Forward P/E is 12.18x According to the FY26 PAT

Lead Manager of Brandman Retail Limited IPO:

  1. Gretex Corporate Services Private Limited

Registrar of Brandman Retail Limited IPO:

  1. Bigshare Services Private Limited

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