IPO details · Updated
Rajnandini Fashion India Limited
- Price Band
- ₹59 – ₹63
- Lot Size
- 2,000 shares
- Min. Investment
- ₹1,26,000
- Issue Size
- ₹18.21 Cr
- Offer Dates
- 26 May – 29 May 2026
- Listing
- 3 Jun 2026
Issue Details
- Total Issue Size
- ₹18.21 Cr
- 28,90,000 shares
- Fresh Issue
- ₹18.21 Cr
- 28,90,000 shares
- Offer for Sale
- ₹0 Cr
- Face Value
- ₹10 per share
- Issue Type
- Book-built IPO
- Listing At
- BSE SME
- Shares Pre-Issue
- 74,80,000
- Shares Post-Issue
- 1,03,70,000
IPO Timeline
Offer opens
26 May 2026
Offer closes
29 May 2026
Allotment
1 Jun 2026
Listing
3 Jun 2026
Issue Allocation
Share of the offer reserved for each investor category
- Anchor28.3%8,18,000 shares
- QIB19.0%5,48,000 shares
- HNI14.3%4,14,000 shares
- Retail33.4%9,64,000 shares
- MarketMaker5.1%1,46,000 shares
Subscription Status
Times subscribed by investor category
| Category | Offered | Bids | Subscribed |
|---|---|---|---|
| All categories | 19,26,000 | 39,24,06,000 | 203.74x |
| Total | 19,26,000 | 39,24,06,000 | 203.74x |
Lot Size & Investment
1 lot = 2,000 shares
Retail (min)
2 lots · 4,000 shares
Retail (max)
2 lots · 4,000 shares
S-HNI (min)
3 lots · 6,000 shares
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail | 2 | 4,000 | ₹2,52,000 |
| Small HNI (S-HNI) | 3 | 6,000 | ₹3,78,000 |
| Big HNI (B-HNI) | 8 | 16,000 | ₹10,08,000 |
Financial Performance
Restated figures in ₹ crore, unless stated otherwise
| Period | Dec-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Assets | 35.8 | 25.35 | 15.74 | 11.71 |
| Total Income | 31.22 | 31.27 | 23.6 | 28.02 |
| Profit After Tax | 5.14 | 5.06 | 2.29 | 0.37 |
| EBITDA | 7.11 | 7.48 | 3.79 | 1.03 |
| Net Worth | 14.42 | 9.31 | 4.24 | 1.95 |
| Reserves & Surplus | 6.94 | 9.09 | 4.02 | 1.73 |
| Total Borrowing | 13.96 | 8.84 | 7.01 | 6.19 |
Key Performance Indicators
| Period | Dec-25 | Mar-25 |
|---|---|---|
| ROE (%) | 43.32 | 74.74 |
| ROCE (%) | 24.39 | 40 |
| EPS (₹) | — | 6.77 |
| P/E (pre-issue) | — | 9.31 |
| P/E (post-issue) | — | 9.53 |
Peer Comparison
Listed companies in the same business
| Company | P/E | ROE |
|---|---|---|
| Nandani Creation Ltd. | 12.33 | 7.1% |
| Libas Consumer Products Ltd. | 9.99 | 3.24% |
About Rajnandini Fashion India Limited
Incorporated in 2010, Rajnandini Fashion designs, manufactures, and sells women’s apparel across ethnic and casual wear categories through both online and offline channels. Its ethnic wear range includes sarees, kurtis, kurta sets, and unstitched dress materials, while casual wear range covers tops, tunics, dresses, and maternity gowns made from fabrics such as cotton, rayon, silk, and poly-cotton. We operate in two segments: B2C (Business-to-Consumer): Direct sales through the co.website and major e-commerce platforms like Amazon, Flipkart, Myntra, Ajio, Nykaa, and others. The company processed 22,90,998 in December 2025. B2B (Business-to-Business) : Supply of fabrics and ready-made garments to wholesalers, retailers, and garment processors. The B2B segment generated revenue of Rs 1,523.26 lakh in December 2025. Its products are sold under four brands – Merira, Monira, Roly Poly, and Rajnandini , catering to different price segments. Product prices generally range between ₹250 and ₹2,000, depending on the category. The company set up first manufacturing unit in Surat in 2023 and expanded to Jaipur in 2024. The Surat unit has 90 sewing machines, and the Jaipur unit has 50. As of April 30, 2026, the company had a total workforce of 146 permanent employees. Competitive Strengths: Wide range of products across multiple price points Presence across multiple online platforms In-house manufacturing facilities Experienced and Visionary Promoter Leadership
Objects of the Issue
- Funding of capital expenditure for setting up a new manufacturing facility (₹1.35 Cr)
- Funding for repayment of a portion of certain borrowings availed by the Company (₹5.50 Cr)
- Utilization towards working capital requirements (₹7.00 Cr)
- General Corporate Purposes (₹1.28 Cr)
- Issue expenses (₹3.07 Cr)
Promoters
- Vikesh Sushil Lunawat
- Sushil Kumar Lunawat
- Priyanka Chopra
Company Information
- Book running lead managers
- Seren Capital Pvt.Ltd.
- Registered office
- G1-41, RIICO, Tonk Road, Sitapura Industrial Area, Jaipur, Rajasthan, 302022
- Market maker
- Giriraj Stock Broking Pvt.Ltd.
Official Documents
Opens the source filing in a new tab
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