Narmadesh Brass Industries, a Gujarat-based manufacturer of brass products, is launching a Rs 44.8-crore initial public offering (IPO) on the BSE SME platform, opening January 12 and closing January 15. The IPO is priced at Rs 515 per share and includes a mix of fresh shares and an offer for sale. Proceeds will fund debt repayment, machinery purchase, and working capital. The company reported Rs 87.72 crore in revenue and Rs 5.66 crore in profit after tax. Shares are tentatively scheduled to list on January 20.