Rajnandini Fashion India IPO
Bookbuilding IPO | ₹18.00 Cr | Listing at BSE SME
Closed
IPO Open
Tue, May 26, 2026
IPO Close
Fri, May 29, 2026
Price Band
₹59.00 to ₹63.00
Market Cap (Pre-IPO)
₹65.32 Cr
IPO Details
| IPO Date | May 26, 2026 to May 29, 2026 |
| Listing Date | Tentative: Jun 03, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹59.00 to ₹63.00 |
| Lot Size | 2000 Shares (Minimum: ₹126,000.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Issue Size | ₹18.00 Crores |
| Total Shares Offered | 2,890,000 shares |
| Fresh Issue | 2,744,000 shares |
| Offer For Sale | 2,890,000 shares |
Rajnandini Fashion India IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 13,66,000 |
| Retail Shares Offered | 9,64,000 |
| NII Shares Offered | 4,14,000 |
Rajnandini Fashion India IPO Lot Size
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹252,000 |
| Retail (Max) | 2 | 4,000 | ₹252,000 |
| S-HNI (Min) | 3 | 6,000 | ₹378,000 |
| S-HNI (Max) | 7 | 14,000 | ₹882,000 |
| B-HNI (Min) | 8 | 16,000 | ₹1,008,000 |
Rajnandini Fashion India Financial Information (Restated Consolidated)
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 35.80 | 25.35 | 15.74 | 11.71 |
| Total Income | 31.22 | 31.27 | 23.60 | 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 and Surplus | 6.94 | 9.09 | 4.02 | 1.73 |
| Total Borrowing | 13.96 | 8.84 | 7.01 | 6.19 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 74.74% |
| ROCE (Return on Capital Employed) | 40.00% |
| Debt/Equity | 0.95 |
| RoNW (Return on Net Worth) | 54.41% |
| PAT Margin (Profit After Tax Margin) | 16.50% |
| EBITDA Margin | 24.38% |
| Price to Book Value | 5.06 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 6.77 | 6.61 |
| P/E (x) | 9.31 | 9.53 |
| Promoter Holding | 97.19% | - |
Company Promoters
- Vikesh Sushil Lunawat
- Sushil Kumar Lunawat and Priyanka Chopra.
Company Overview
Rajnandini Fashion India – Company Overview
- Incorporated in 2010, Rajnandini Fashion is engaged in the design, manufacturing, and sale of women’s apparel across ethnic and casual wear categories.
Core Segments
- Ethnic Wear: Sarees, kurtis, kurta sets, unstitched dress materials
- Casual Wear: Tops, tunics, dresses, maternity gowns
- B2C Sales: Online and direct-to-consumer channels
- B2B Sales: Fabric and garment supply to wholesalers and retailers
- The company sells products under four brands — Merira, Monira, Roly Poly, and Rajnandini — catering to different customer segments and price ranges.
- Its products are available through major e-commerce platforms such as Amazon, Flipkart, Myntra, Ajio, and Nykaa along with its own website.
- The company operates manufacturing units in Surat and Jaipur, equipped with a total of 140 sewing machines.
- Rajnandini Fashion focuses on affordable fashion apparel, with product prices generally ranging between ₹250 and ₹2,000.
- As of April 30, 2026, the company had 146 permanent employees.
Company Strengths
- Wide range of products across multiple price points
- Presence across multiple online platforms
- In-house manufacturing facilities
- Experienced and Visionary Promoter Leadership
Use of Proceeds
| 1) | Funding of capital expenditure for setting up a new manufacturing facility | 1.35 |
| 2) | Repayment of a portion of certain borrowings availed by Company | 5.50 |
| 3) | Utilization towards working capital requirements | 7.00 |
| 4) | General Corporate Purposes | |
| Total | 13.85 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Rajnandini Fashion India IPO Peer Comparison
Rajnandini Fashion India peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Rajnandini Fashion India Ltd. | 6.77 | 6.77 | - | - | 54.41 | - | - |
| Nandani Creation Ltd. | 2.41 | 2.41 | - | 12.33 | 7.10 | - | - |
| Libas Consumer Products Ltd. | 1.23 | 1.23 | - | 9.99 | 3.24 | - | - |
Quick Info
| Sector | Textiles, Apparel, and Retail |
| Exchange | BSE SME |
| Market Cap (Pre-IPO) | ₹65.32 Cr |
Important Dates
| IPO Open | May 26, 2026 |
| IPO Close | May 29, 2026 |
| Allotment Date | Jun 02, 2026 |
| Credit to Demat | Jun 01, 2026 |
| Listing Date | Tentative: Jun 03, 2026 |
Lead Manager(s)
Seren Capital Pvt.Ltd.
Registrar
Bigshare Services Pvt.Ltd.
+91-22-6263 8200
Description
- IPO Type: Book build issue aggregating to ₹18.21 crores.
- Issue Structure: Entirely a fresh issue of 0.29 crore shares totaling ₹18.21 crores.
- IPO Dates: The issue opens on May 26, 2026 and closes on May 29, 2026.
- Allotment Date: Expected to be finalized on June 1, 2026.
- Listing Details: Shares are proposed to be listed on the SME platform of BSE Limited (BSE SME) with a tentative listing date of June 3, 2026.
- Retail Investment Requirement: Minimum 2 lots (4,000 shares) amounting to approximately ₹2,52,000 (at upper price band).
- HNI Investment Requirement: Minimum 3 lots (6,000 shares) totaling around ₹3,78,000.
- IPO Price Band: ₹59 to ₹63 per equity share.
- Lot Size: 2,000 shares per lot.
This IPO offers investors an opportunity to participate in the fashion and apparel sector, subject to market risks.