Brills

Robotics · Industrial Automation · Physical AI

IPO

Brills surges 135% in KOSDAQ debut after robot IPO draws huge demand

Investors are betting heavily on Korea's industrial-robot suppliers as factories automate and physical AI matures.

• Brills, trading under ticker 468670, saw its stock climb as much as 135% above its 19,500 won offering price in early trading on its October 1, 2026 KOSDAQ debut, before volatility pulled shares back later in the session.
• Founded in 2015, Brills runs a one-stop 'robot modularization platform,' handling design, software, production, installation and maintenance of industrial, collaborative and autonomous mobile robots for auto, battery and semiconductor manufacturing lines.
• The IPO priced at 19,500 won, the top of its indicative range, after 2,181 domestic and international institutions bid at a 1,187.74-to-1 ratio, with 98.93% of orders at or above the top price.
• Retail investors subscribed at a 1,676.26-to-1 ratio, depositing roughly 4.9 trillion won across 113,800 applications for just 1.2 million shares on offer.
• Brills raised about 23.4 billion won by issuing 1.2 million new shares, which priced the company at roughly 221.6 billion won in market capitalization at the offer price.
• Before listing, Brills had already raised about 40.2 billion won from 22 institutional backers including POSCO Group, Korea Development Bank and IBK Securities.
• IPO proceeds are earmarked for physical AI and on-device robotics R&D, expansion into quadruped and humanoid robot platforms, and North American growth via a Michigan subsidiary opened in April.
• The outsized demand for a modest 23.4 billion won offering shows investors chasing exposure to Korea's industrial automation and physical AI supply chain, though a thin freely tradable float - just 21% of shares - can exaggerate first-day price swings.