Rajnandini Fashion India IPO
GMP, Subscription, Price, Dates & Financial Details
Textile
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…
Open Date
Tue, 26 May 2026
Close Date
Fri, 29 May 2026
Price Band
₹ 59 – 63
Lot Size
2000
Issue Size
₹ 18.00 Cr
Minimum Investment
₹ 252,000 (4000 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Rajnandini Fashion India IPO has successfully completed its IPO process and is now listed on BSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹18.00 Crore, comprising a fresh issue of 27.44 Lakh equity shares aggregating to ₹17.00 Crore.
The Rajnandini Fashion India IPO remained open for subscription from May 26, 2026, to May 29, 2026. The basis of allotment was finalized on June 01, 2026, and the company's shares were listed on BSE SME Platform on June 03, 2026.
The company had fixed the price band at ₹59 to ₹63 per share, with a lot size of 2000 shares. Retail investors were required to make a minimum investment of ₹252,000 (based on the upper price band) to apply for one lot.
Bigshare Services Pvt Ltd served as the registrar to the issue. Seren Capital Private Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Rajnandini Fashion India Limited is now a publicly listed company on BSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Rajnandini Fashion India IPO Timeline (Tentative)
- IPO Open Date
- Tue, 26 May 26
- IPO Close Date
- Fri, 29 May 26
- Basis of Allotment
- Mon, 01 Jun 26
- Initiation of Refunds
- Tue, 02 Jun 26
- Credit of Shares to Demat
- Tue, 02 Jun 26
- Listing Date
- Wed, 03 Jun 26 — NSE & BSE
Open Date
26 May 2026
Close Date
29 May 2026
Basis Of Allotment
01 June 2026
Listing Date
03 June 2026
IPO Subscription
Check Live Subscription →The Rajnandini Fashion India IPO has received bids for 39,25,52,000 shares against 19,26,000 shares offered, resulting in an overall subscription of 203.82x. the NII category is subscribed 393.99x, Retail Investors 168.63x, and QIBs 122.04x. Within the NII category, BNII is subscribed 491.16x, while SNII is subscribed 199.64x.
QIB
122.04x
NII
393.99x
BNII
491.16x
SNII
199.64x
RII
168.63x
Total
203.82x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 9,64,000 shares, representing 50.05% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 5,48,000 shares (28.45%), while Non-Institutional Investors (NIIs) receive 4,14,000 shares (21.5%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 548,000 | 28.45% |
| Non-Institutional | 414,000 | 21.5% |
| BNII | 276,000 | 14.33% |
| SNII | 138,000 | 7.17% |
| Retail Investors | 964,000 | 50.05% |
| Total | 1,926,000 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Rajnandini Fashion India Limited KPI Information
| 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 |
| Pat Margin % | 16.99 | 16.5 | 9.82 | 1.34 |
Peers Comparison
| 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 |
About Rajnandini Fashion India Limited
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.
Rajnandini Fashion India IPO Promoters
- Vikesh Sushil Lunawat
- Sushil Kumar Lunawat
- Priyanka Chopra
Promoters Holding
Holding Pre Issue
97.19%
Holding Post Issue
0.00%
Rajnandini Fashion India IPO Objective
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
Rajnandini Fashion India Limited Address / Contact Details
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
Rajnandini Fashion India IPO Lot Size
The Rajnandini Fashion India IPO has a lot size of 2,000 shares. Retail investors require a minimum investment of ₹2,52,000 by applying for 2 lot (4,000 shares). The maximum application allowed for the retail category is 2 lots (4,000 shares), requiring an investment of ₹2,52,000.
| 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 |
Issue Reservation
- QIB — 28.45%
- NII — 21.5%
- RII — 50.05%
Book Running Lead Managers
- Seren Capital Private Limited
IPO Documents & Links
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Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Rajnandini Fashion India IPO?
Rajnandini Fashion India IPO is a Book-building IPO with a total issue size of ₹18 crore. The Rajnandini Fashion India IPO price band is ₹59 to 63 per share. The Rajnandini Fashion India IPO subscription opens on Tue, May 26, 2026, and closes on Fri, May 29, 2026. The Rajnandini Fashion India IPO will be listed on the BSE. Bigshare Services Pvt Ltd is the registrar for the Rajnandini Fashion India IPO.
When will the Rajnandini Fashion India IPO open for subscription?
The Rajnandini Fashion India IPO opens on Tue, May 26, 2026 and closes on Fri, May 29, 2026
What is Rajnandini Fashion India IPO Price Band?
Rajnandini Fashion India IPO Price Band is ₹59 to 63 per share.
What is Rajnandini Fashion India IPO Lot Size?
Rajnandini Fashion India IPO lot size is 2000 shares, Retail investors need a minimum investment of ₹252000 based on the upper price band
What is the minimum investment for Rajnandini Fashion India IPO?
The minimum investment for Rajnandini Fashion India IPO is ₹252000, based on one lot of 2000 shares at the upper price band of ₹63 per share.
How to apply for Rajnandini Fashion India IPO?
Investors can apply for the Rajnandini Fashion India IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, May 29, 2026. The application amount remains blocked until the Rajnandini Fashion India IPO allotment is finalized.
What is Rajnandini Fashion India IPO Issue Size?
Rajnandini Fashion India IPO issue size is ₹18 crores.
What is the Rajnandini Fashion India IPO Allotment Date?
Rajnandini Fashion India IPO allotment date is Mon, Jun 1, 2026.
Who is the Rajnandini Fashion India IPO Registrar?
The registrar for Rajnandini Fashion India IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website to check Rajnandini Fashion India IPO allotment status, refund processing, and other IPO-related information.
What is the Rajnandini Fashion India IPO GMP?
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 9.52% over the issue price.
Who is the Rajnandini Fashion India IPO Lead Manager?
The book-running lead managers (BRLMs) for the Rajnandini Fashion India IPO are Seren Capital Private Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Rajnandini Fashion India IPO Red Herring Prospectus (RHP).