Rajnandini Fashion India Limited SME IPO: Price, GMP, Dates & Review

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Rajnandini Fashion India Limited IPO
RF
Rajnandini Fashion India Limited IPO
Women’s Apparel · B2B & B2C Segments · Surat & Jaipur Plants · Multi-Brand Strategy
📋 SME IPO Fresh Issue BSE SME
₹63
Upper Price
₹18.21 Cr
Issue Size
Jun 3, 2026
Listing Date
₹65.33 Cr
Market Cap
📅 IPO Timetable
All dates tentative
🟢
IPO Opens
Tuesday, 26 May 2026
Bidding starts — apply before close
🔒
IPO Closes
Friday, 29 May 2026
Last day to bid — closes at 5:00 PM IST
📊
Monday, 1 June 2026
Allotment finalised by registrar
🔄
Tuesday, 2 June 2026
Unallotted funds returned; shares credited to demat
🏷︀
Wednesday, 3 June 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date26 May 2026 (Tue)
IPO Close Date29 May 2026 (Fri)
Listing Date3 June 2026 (Wed)
Face Value₹10 per share
Price Band₹59 to ₹63
Issue Price (Upper Band)₹63 per share
Issue TypeBook Build — Fresh Issue
Lot Size2,000 shares
Total Issue Size28,90,000 shares (₹18.21 Cr)
Fresh Issue28,90,000 shares (₹18.21 Cr)
Market Maker Shares1,46,000 shares
Pre-Issue Shares74,80,000
Post-Issue Shares1,03,70,000
Promoter Holding (Pre)97.19%
Lead ManagerSeren Capital Pvt.Ltd.
RegistrarBigshare Services Pvt.Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹63
Investor TypeLotsSharesAmount
Retail — Minimum & Maximum24,000₹2,52,000
S-HNI (sNII) — Min36,000₹3,78,000
S-HNI (sNII) — Max714,000₹8,82,000
B-HNI (bNII) — Min816,000₹10,08,000
⚠️ SME IPO Note: Minimum application for retail is 2 lots (4,000 shares = ₹2,52,000). Retail maximum limit is also 2 lots. Lot size is 2,000 shares; bids must be in multiples thereof.
👥 Investor Reservation
Total 28,90,000 shares
49.78%
QIB Portion
13,66,000 shares
35.13%
Retail (RII)
9,64,000 shares
15.09%
NII / HNI
4,14,000 shares
💡 Market Maker: Giriraj Stock Broking Pvt.Ltd. has been allocated 1,46,000 shares (5.05% of issue) to ensure liquidity post-listing.
📊 Live Subscription Status
Bidding Live

The Rajnandini Fashion India IPO is subscribed 0.51 times on May 26, 2026 11:54:56 AM (Day 1).

CategoryShares OfferedShares Bid ForSubscription (x)
QIB (Ex Anchor)5,48,00000.00x
NII / HNI4,14,0008,48,0002.05x
Retail Investors9,64,0001,36,0000.14x
Total Public19,26,0009,84,0000.51x

Total Applications: 41 · Market Maker portion excluded from NII.

📈 Company Financials
Restated · ₹ Crore
Metric31 Dec 202531 Mar 202531 Mar 202431 Mar 2023
Total Assets35.8025.3515.7411.71
Total Income31.2231.2723.6028.02
PAT5.145.062.290.37
EBITDA7.117.483.791.03
Net Worth14.429.314.241.95
Total Borrowing13.968.847.016.19
Income Growth
FY 2023–24₹23.60 Cr
FY 2024–25₹31.27 Cr
H1 FY26 (Dec 2025)₹31.22 Cr
🎯 Key Performance Indicators
74.74%
ROE
FY 2024–25
40.00%
ROCE
FY 2024–25
16.50%
PAT Margin
FY 2024–25
0.95
Debt/Equity
FY 2024–25
43.32%
ROE (H1 FY26)
Dec 31, 2025
24.39%
ROCE (H1 FY26)
Dec 31, 2025
16.99%
PAT Margin
Dec 31, 2025
3.27x
Price/Book
Dec 31, 2025
⚖︀ Valuation & EPS
Pre-IPO EPS
₹6.77
FY25 earnings / pre-issue shares
P/E: 9.31x
Post-IPO EPS
₹6.61
Annualised H1 FY26 / post-issue shares
P/E: 9.53x
Price to Book Value
5.06x
At upper price band (FY25 book)
Market Cap (Post-IPO)
₹65.33 Cr
At issue price ₹63
ℹ︀ Pre-IPO EPS (₹6.77) based on pre-issue shareholding (74,80,000) and FY25 earnings. Post-IPO EPS (₹6.61) based on post-issue shareholding (1,03,70,000) and annualised H1 FY26 earnings.
🎯 Objects of the Issue
Net proceeds utilisation
1
Funding of capital expenditure for setting up a new manufacturing facility
₹1.35 Cr
2
Repayment of a portion of certain borrowings availed by Company
₹5.50 Cr
3
Utilization towards working capital requirements
₹7.00 Cr
Total Net Proceeds Target ₹13.85 Cr
🏢 About Rajnandini Fashion India Limited
Est. 2010 · Jaipur, Rajasthan · Women’s Apparel

Rajnandini Fashion India Limited 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.

The company operates in a B2C segment via its own website and major e-commerce platforms like Amazon, Flipkart, Myntra, Ajio, and Nykaa, alongside a robust B2B framework supplying fabric and ready-made options to wholesalers. Rajnandini manages output from its manufacturing plants in Surat and Jaipur, selling under popular brands like Merira, Monira, Roly Poly, and Rajnandini.

Competitive Strengths
✅Wide range of products across multiple price points
📍Presence across multiple online platforms and digital networks
📋In-house manufacturing facilities across strategic hubs
👨‍💼Experienced and Visionary Promoter Leadership panel
Company Promoters
VL
Vikesh Sushil Lunawat
Promoter, Rajnandini Fashion India Limited
SL
Sushil Kumar Lunawat
Promoter, Rajnandini Fashion India Limited
📅 Key Dates
IPO Opens26 May 2026
IPO Closes29 May 2026
Allotment1 June 2026
Refund & Share Credit2 June 2026
Listing Day3 June 2026
💡 Quick Summary
Price Band₹59 – ₹63
Issue Price₹63 / share
Lot Size2,000 shares
Min. Investment (Retail)₹2,52,000 (2 lots)
Issue Size₹18.21 Cr
ListingBSE SME
🏦 Registrar & Lead Manager
Registrar
Bigshare Services Pvt.Ltd.
📞 +91-22-6263 8200
[email protected]
Lead Manager
Seren Capital Pvt.Ltd.
Market Maker
Giriraj Stock Broking Pvt.Ltd.
📍 Registered Address
Rajnandini Fashion India Ltd.
G1-41, RIICO, Tonk Road,
Sitapura Industrial Area,
Jaipur, Rajasthan — 302022
📞 +91-7878352054
[email protected]
🛡︀ Regulatory Note: SME IPO investments are subject to SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠︀ Disclaimer: This page presents publicly available information from the Rajnandini Fashion India IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
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