Rajnandini Fashion India IPO
Open SmeCurrent GMP
₹6 (+9.52%)
Price Band
₹ 59 – 63
Lot Size
2000
Issue Size
₹18 Cr
Minimum Investment
₹252000 (4000 Shares)
Listing Date
03 June 2026
Subscription
203.82x
About the Company
Founded in 2010, Rajnandini Fashion is engaged in the design, manufacturing, and sale of women’s apparel across ethnic and casual wear categories through both online and offline distribution channels.
The company’s ethnic wear portfolio includes sarees, kurtis, kurta sets, and unstitched dress materials, while its casual wear range comprises tops, tunics, dresses, and maternity gowns. These products are manufactured using a variety of fabrics such as cotton, rayon, silk, and poly-cotton blends.
Rajnandini Fashion operates through two key business segments:
- B2C (Business-to-Consumer):
The company sells directly to customers through its official website and leading e-commerce marketplaces including Amazon, Flipkart, Myntra, Ajio, and Nykaa. During FY2025, the company processed approximately 2.8 lakh customer orders through its B2C operations. - B2B (Business-to-Business):
Under this segment, the company supplies fabrics and ready-made garments to wholesalers, retailers, and garment processing businesses. The B2B division generated revenue of ₹1,170.31 lakh in FY2025.
The company markets its products under four brands — Merira, Monira, Roly Poly, and Rajnandini — catering to different customer segments and pricing categories. Product prices generally range between ₹250 and ₹2,000, depending on the product type and design.
To strengthen its manufacturing capabilities, Rajnandini Fashion established its first manufacturing unit in Surat in 2023, followed by a second unit in Jaipur in 2024. The Surat facility is equipped with 90 sewing machines, while the Jaipur unit houses 50 sewing machines. As of August 31, 2025, the company employed 207 permanent employees across its operations.
Promoters
- Vikesh Sushil Lunawat
- Sushil Kumar Lunawat
- Priyanka Chopra
Promoters Holding
Holding Pre Issue
97.19%
Holding Post Issue
0.00%
Objects of the Issue
The Company Rajnandini Fashion India IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding of capital expenditure towards setup of new Manufacturing Facility
- Repayment of a portion of certain borrowings availed by our Company
- Utilization towards working capital requirements
- General Corporate Purposes
Address / Contact Info
Rajnandini Fashion India Ltd.
G1-41, RIICO,
Tonk Road, Sitapura Industrial Are
Jaipur, Rajasthan, 302022
Phone: +91-7878352054
Email: cs@rfil.in
Website: https://rfil.in/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Tuesday, 26 May 2026
IPO Close Date
Friday, 29 May 2026
Basis of Allotment
Monday, 01 June 2026
Initiation of Refunds
Tuesday, 02 June 2026
Credit of Shares to Demat
Tuesday, 02 June 2026
Listing Date
Wednesday, 03 June 2026 — NSE & BSE
Important Dates
Open Date
26 May 2026
Close Date
29 May 2026
Basis Of Allotment
01 June 2026
Listing Date
03 June 2026
Financial Performance (₹ in Crores)
| Particular | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 35.8 | 25.35 | 15.74 | 11.71 |
| Revenue | 31.22 | 31.27 | 23.6 | 28.02 |
| Profit After Tax | 5.14 | 5.06 | 2.29 | 0.37 |
| Net Worth | 14.42 | 9.31 | 4.24 | 1.95 |
| Reserve & Surplus | 6.94 | 9.09 | 4.02 | 1.73 |
| Total Borrowings | 13.96 | 8.84 | 7.01 | 6.19 |
EPS Pre
6.77%
EPS Post
6.61%
P/E Pre
9.31
P/E (Post Issue)
9.53x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 43.32 | 74.74 | 73.92 | 26.48 |
| ROCE % | 24.39 | 40 | 31.78 | 12.25 |
| Debt / Equity | 0.97 | 0.95 | 1.65 | 3.17 |
| RoNW % | 35.64 | 54.41 | 53.97 | 19.18 |
| PbW | 0 | 0 | 0 | 0 |
| Pat Margin % | 16.99 | 16.5 | 9.82 | 1.34 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 548000 | 28.45 | 0 |
| Non-Institutional | 414000 | 21.5 | 0 |
| BNII | 276000 | 14.33 | 0 |
| SNII | 138000 | 7.17 | 0 |
| Retail Investors | 964000 | 50.05 | 0 |
| Total | 1926000 | 100 | 0 |
Subscription Status ( Fri, 29 May 26 01:53 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 548000 | 66878000 | 122.04x |
| Non-Institutional | 414000 | 163110000 | 393.99x |
| BNII | 276000 | 135560000 | 491.16x |
| SNII | 138000 | 27550000 | 199.64x |
| Retail Investors | 964000 | 162564000 | 168.63x |
| Total | 1926000 | 392552000 | 203.82x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Rajnandini Fashion India Ltd | 10 | 0.00 | 6.77 | 6.77 | 54.41 | 12.44 |
| Nandani Creation Ltd | 10 | 12.33 | 2.41 | 2.41 | 7.10 | 33.99 |
| Libas Consumer Products Ltd | 10 | 9.99 | 1.23 | 1.23 | 3.24 | 31.02 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | 252,000.00 |
| Retail (Max) | 2 | 4,000 | 252,000.00 |
| S-HNI (Min) | 3 | 6,000 | 378,000.00 |
| S-HNI (Max) | 7 | 14,000 | 882,000.00 |
| B-HNI (Min) | 8 | 16,000 | 1,008,000.00 |
Registrar
Bigshare Services Pvt Ltd
91-22-6263 8200
investor@bigshareonline.com
https://www.bigshareonline.com
Book Running Lead Managers
- Seren Capital Private Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Rajnandini Fashion India IPO is a Book-building IPO worth ₹18 crores. The price band is ₹59 to 63 per share. The IPO opens on Tue, May 26, 2026 and closes on Fri, May 29, 2026. It will be listed on BSE and NSE. Bigshare Services Pvt Ltd is the registrar.
The Rajnandini Fashion India IPO opens on Tue, May 26, 2026 and closes on Fri, May 29, 2026
Rajnandini Fashion India IPO Price Band is ₹59 to 63.
Rajnandini Fashion India IPO lot size is 2000, and the minimum amount required for application is ₹252000.
The minimum investment for Rajnandini Fashion India IPO is approximately ₹252000 based on the upper price band.
To apply for the Rajnandini Fashion India IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, May 29, 2026. After submission, funds are blocked until the basis of allotment of Rajnandini Fashion India IPO is finalised.
Rajnandini Fashion India IPO issue size is ₹18 crores.
Rajnandini Fashion India IPO allotment date is Sat, Jun 27, 2026.
The registrar for Rajnandini Fashion India IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website for IPO allotment status, refund processing, and other queries related to Rajnandini Fashion India IPO through their official website or helpline.
The Rajnandini Fashion India IPO GMP (Grey Market Premium) is ₹6 as of Wed, Jun 3, 2026. Based on the upper price band of ₹63 per share, the estimated Rajnandini Fashion India IPO listing price is ₹69, indicating a potential listing gain of approximately 31% over the issue price.