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RF

Rajnandini Fashion India

Listed SME BSE SME · Garments & Apparels

Price Band

₹59.0–63.0

Issue Size

₹18.21 Cr

Lot Size

2,000 shares

Min Investment

₹252,000

GMP

+₹6.0 (9.52%)

Issue Price

₹63.0

calendar_month Important Dates

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IPO Open Date
Tue, 26 May 2026
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IPO Close Date
Fri, 29 May 2026
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Allotment Date
Mon, 01 Jun 2026
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Refund Initiation
Tue, 02 Jun 2026
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Credit of Shares
Tue, 02 Jun 2026
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Listing Date
Wed, 03 Jun 2026
Listing Price
₹69.0 +9.52%

bar_chart Subscription Status

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Subscription data unavailable

trending_up Grey Market Premium (GMP)

GMP

+₹6.0

GMP %

+9.52%

Est. Listing

₹69.0

schedule Updated: 14 Jul 2026 15:51

business About the Company

Rajnandini Fashion is engaged in the design, manufacturing, and sale of women’s apparel across ethnic and casual wear categories through online and offline distribution channels. The company’s ethnic wear portfolio includes sarees, kurtis, kurta sets, and unstitched dress materials, while its casual wear offerings consist of tops, tunics, dresses, and maternity gowns. These products are manufactured using fabrics such as cotton, rayon, silk, and poly-cotton. Rajnandini Fashion operates through two key business verticals: B2C (Business-to-Consumer): The company sells directly through its official website and leading e-commerce marketplaces including Amazon, Flipkart, Ajio, Myntra, etc. During FY2025, the company fulfilled around 2.8 lakh customer orders. B2B (Business-to-Business): The company also supplies fabrics and ready-made garments to wholesalers, retailers, and garment processing businesses. This segment contributed revenue of ₹1,170.31 lakh in FY2025. Its products are marketed under four brands — Merira, Monira, Roly Poly, and Rajnandini — targeting diverse customer segments and price categories. Product pricing generally ranges from approximately ₹250 to ₹2,000 depending on the product type. To strengthen manufacturing capabilities, the company established its first production facility in Surat in 2023 and later expanded operations to Jaipur in 2024. The Surat unit houses 90 sewing machines, while the Jaipur facility operates with 50 sewing machines. As of August 31, 2025, the company employed 207 permanent staff members.

payments Company Financials (₹ Cr)

As of 2025-12-31

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

Key Ratios

EPS

₹6.77

NAV

₹12.44

ROE

74.74%

ROCE

40.00%

RoNW

54.41%

P/B Value

5.06

P/E Ratio

9.31

Market Cap

₹65.33 Cr

PAT Margin

16.50%

Debt/Equity

0.95

Promoters

Vikesh Sushil Lunawat, Sushil Kumar Lunawat and Priyanka Chopra

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 of capital expenditure for setting up a new manufacturing facility 1.35 2 Funding for repayment of a portion of certain borrowings availed by the Company 5.50 3 Utilization towards working capital requirements 7.00 4 General Corporate Purposes 1.28 5 Issue expenses 3.07 Total 18.21

info Issue Details

Issue Type SME Book Built
Issue Size ₹18.21 Cr
Price Band ₹59.0 – ₹63.0
Issue Price ₹63.0
Lot Size 2,000 shares
Min Investment ₹252,000
Exchange BSE SME
Sector Garments & Apparels
Open Date 26 May 2026
Close Date 29 May 2026
Allotment 01 Jun 2026
Listing Date 03 Jun 2026

pie_chart Investor Allocation

QIB (Institutional) 50%
NII / HNI 15%
Retail (RII) 35%

Registrar

domain Bigshare Services Pvt.Ltd.

Lead Managers / Book Running

account_balance Seren Capital Pvt.Ltd.

timeline IPO Timeline

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Open

26 May 2026

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Close

29 May 2026

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Allotment

01 Jun 2026

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Listing

03 Jun 2026

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