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Rajnandini Fashion India IPO
Price Band
₹59.0–63.0
Issue Size
₹18.21 Cr
Lot Size
2,000 shares
Min Investment
₹252,000
2 LOTS MIN
GMP
+₹6.0 (9.52%)
Issue Price
₹63.0
Rajnandini Fashion India IPO AI Summary
- Rajnandini Fashion India IPO is listed on BSE SME in the Garments & Apparels sector.
- Price band: ₹59.0–₹63.0 per share, lot size 2,000 shares (min. investment ₹252,000, 2 lots minimum).
- Subscription window: 26 May–29 May 2026, listing on 03 Jun 2026.
- Current GMP is +₹6.0 (9.52%), an estimated listing price of ₹69 — unofficial and can change daily.
Rajnandini Fashion India is set to list on June 3, 2026, after raising ₹18.21 Cr through its IPO. The company has shown consistent growth in revenue and profit over recent periods, with a focus on women's apparel across various distribution channels.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Rajnandini Fashion India IPO Grey Market Premium (GMP) Today
GMP
+₹6.0
GMP %
+9.52%
Est. Listing
₹69.0
Updated: 14 Jul 2026 15:51
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.
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
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹28.02 Cr in the year ending 31 Mar 2023, rising to ₹23.60 Cr by 31 Mar 2024, then slightly increasing to ₹31.27 Cr by 31 Mar 2025, and finally reaching ₹31.22 Cr by 31 Dec 2025. This indicates a general stability in revenue over the periods.
Profit Trend
Profit After Tax was ₹0.37 Cr in the year ending 31 Mar 2023, increasing to ₹2.29 Cr by 31 Mar 2024. It further rose to ₹5.06 Cr by 31 Mar 2025 and reached ₹5.14 Cr by 31 Dec 2025. This shows a consistent upward trend in profitability across the periods.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO compared to its issue price. A positive GMP suggests that the stock may list at a higher price than the issue price, while a negative GMP indicates the opposite. GMP can be influenced by market sentiment and demand for the stock.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. Factors such as the company's growth potential, industry trends, and financial health should be considered.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs like this, which can be subject to significant price fluctuations in the short term. It's important to assess personal financial situations and investment strategies before participating.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make on the first day of trading, based on the difference between the issue price and the listing price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock. Investors should be aware that prices can fluctuate significantly after listing.
This evaluation is generated from Rajnandini Fashion India'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 Rajnandini Fashion India IPO GMP today?
Rajnandini Fashion India IPO GMP today is +₹6.0 (9.52%), indicating an estimated listing price of ₹69. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Rajnandini Fashion India IPO?
The price band of Rajnandini Fashion India IPO is ₹59.0–₹63.0 per share.
When does Rajnandini Fashion India IPO open and close?
Rajnandini Fashion India IPO opens on 26 May 2026 and closes on 29 May 2026.
When does Rajnandini Fashion India IPO list on the stock exchange?
Rajnandini Fashion India IPO listed on 03 June 2026 at ₹69.0.
What is the lot size for Rajnandini Fashion India IPO?
The lot size for Rajnandini Fashion India IPO is 2000 shares, requiring a minimum investment of ₹252,000 (2 lots).
What is the lot size for this IPO?
The lot size for Rajnandini Fashion India's IPO is 2000 shares.
What is the minimum investment required?
The minimum investment required is ₹252,000.
What is the price band for the IPO?
The price band for the IPO is ₹59.0 to ₹63.0.
When is the listing date for the IPO?
The listing date for the IPO is June 3, 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
26 May 2026
Close
29 May 2026
Allotment
01 Jun 2026
Listing
03 Jun 2026
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