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Qualiance International IPO
Price Band
₹120.0–127.0
Issue Size
₹45.11 Cr
Lot Size
1,000 shares
Min Investment
₹254,000
2 LOTS MIN
GMP
+₹81.0 (63.78%)
Issue Price
₹127.0
Subject to Sauda
₹61600
Paid only if allotted
Qualiance International IPO AI Summary
- Qualiance International IPO is listed on NSE SME in the Other Textile Products sector.
- Price band: ₹120.0–₹127.0 per share, lot size 1,000 shares (min. investment ₹254,000, 2 lots minimum).
- Subscription window: 04 Sep–08 Sep 2026, listing on 11 Sep 2026.
- Current GMP is +₹81.0 (63.78%), an estimated listing price of ₹208 — unofficial and can change daily.
Qualiance International Limited is a textile company focused on performance garments, with a strong growth trajectory in revenue and profits. The IPO has attracted significant interest from various investor categories, and the company plans to use the proceeds for expanding its manufacturing capabilities.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Overall Subscription
459.22x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
299.60x
|
300x 🔥 |
| NII (HNI) |
699.59x
|
700x 🔥 |
| ↳ bNII (>₹10L) |
850.76x
|
851x 🔥 |
| ↳ sNII (<₹10L) |
402.57x
|
403x 🔥 |
| Retail (RII) |
447.13x
|
447x 🔥 |
| Total | 459.22x | 459.22x |
Auto-updated every 5 min · As of 8th Sep 2026 18:56
Qualiance International IPO Grey Market Premium (GMP) Today
GMP
+₹81.0
GMP %
+63.78%
Est. Listing
₹208.0
Updated: 11 Sep 2026 09:30
GMP Trend (Last 10 Days)
About the Company
Qualiance International Limited is engaged in the design, engineering, manufacture and export of performance garments for institutional, government and brand clients in international markets. The company product portfolio includes military uniforms, tactical outerwear, high-visibility workwear, weather-resistant and all-weather outerwear, police and border patrol uniforms, protective workwear and performance activewear. The company operate a manufacturing facility located in Tiruppur, Tamil Nadu with a total built up area of over 45,000 square feet over a land area of approximately 1,046.31 square meters and an installed capacity of 450,000 garment pieces per annum. They have manufactured garments based on product specifications and compliance requirements of European military, government and institutional buyers. Competitive Strengths: In-house manufacturing facility with quality control mechanism Widespread reach in international markets Integrated expertise in high performance technical garments
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 68.99 | 57.53 | 43.14 |
| Total Income | 80.95 | 55.06 | 38.14 |
| Profit After Tax | 11.87 | 4.90 | 2.84 |
| EBITDA | 16.72 | 7.97 | 4.86 |
| NET Worth | 24.74 | 13.82 | 8.92 |
| Reserves and Surplus | 24.75 | 14.54 | 10.41 |
| Total Borrowing | 28.50 | 29.71 | 19.17 |
Key Ratios
EPS
₹11.99
NAV
₹13.96
ROE
43.07%
ROCE
21.16%
RoNW
35.44%
P/B Value
9.10
P/E Ratio
10.59
Market Cap
₹170.84 Cr
PAT Margin
9.23%
Debt/Equity
2.15
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| S.p. Apparels Ltd | 10.67% | 23.21 | 40.22 | 40.09 |
| Gokaldas Exports Ltd | 4.63% | 60.84 | 13.71 | 13.11 |
| Qualiance International Ltd. This IPO | 47.98% | — | 11.99 | 11.99 |
Promoters
Vipul Badani, Bhoomin R Badani, Krupa Rajesh Badani
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding the capital expenditure requirements of the company towards setting up a new manufacturing facility at Tiruppur- Tamil Nadu 38.00 2 General Corporate Purpose 0.02 3 Issue Expenses 7.09 Total 45.11
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹38.14 Cr in the year ending 31 Mar 2024, rising to ₹55.06 Cr by 31 Mar 2025, and further increasing to ₹80.95 Cr by 31 Mar 2026.
Profit Trend
Profit After Tax was ₹2.84 Cr in the year ending 31 Mar 2024, increasing to ₹4.90 Cr by 31 Mar 2025, and further rising to ₹11.87 Cr by 31 Mar 2026.
Valuation
Qualiance International has an implied P/E of 10.59 at the issue price, compared to peers trading at P/E ratios ranging from 23.21 to 60.84.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of how much a stock might list above its issue price. It reflects the demand and supply dynamics in the grey market, which can sometimes indicate investor sentiment before the official listing.
Subscription Demand
The IPO saw significant interest with a total subscription of 459.22 times. The QIB category was subscribed 299.6 times, NII (HNI) at 699.59 times, and Retail (RII) at 447.13 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall portfolio strategy and market conditions.
Who May Want to Wait
Investors who prefer stable and less volatile investments may want to avoid IPOs, as they can be subject to significant price fluctuations in the early days of trading.
IPO Timeline, Explained
The IPO opens for subscription on 4th September 2026 and closes on 8th September 2026. Allotment of shares will be on 9th September 2026, with the listing date set for 11th September 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor may make when selling shares on the day of listing. However, these gains are not guaranteed and can be influenced by market conditions and investor sentiment.
This evaluation is generated from Qualiance International's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Qualiance International IPO GMP today?
Qualiance International IPO GMP today is +₹81.0 (63.78%), indicating an estimated listing price of ₹208. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Qualiance International IPO?
The price band of Qualiance International IPO is ₹120.0–₹127.0 per share.
When does Qualiance International IPO open and close?
Qualiance International IPO opens on 04 September 2026 and closes on 08 September 2026.
When does Qualiance International IPO list on the stock exchange?
Qualiance International IPO listed on 11 September 2026 at ₹208.0.
What is the lot size for Qualiance International IPO?
The lot size for Qualiance International IPO is 1000 shares, requiring a minimum investment of ₹254,000 (2 lots).
What is the lot size for this IPO?
The lot size for Qualiance International's IPO is 1000 shares.
What is the minimum investment required?
The minimum investment required is ₹254,000.
What is the price band for the IPO?
The price band for the IPO is ₹120 to ₹127.
When is the listing date?
The listing date is 11th September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the shares in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
04 Sep 2026
Close
08 Sep 2026
Allotment
09 Sep 2026
Listing
11 Sep 2026
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