Qualiance International SME IPO
ClosedNSE SMEOpens 4 September 2026Closes 8 September 2026
Founded in 1994, Qualiance International Limited operates at the intersection of textile science and industrial engineering, specializing in the design, manufacture, and export of high-performance technical garments for…
Founded in 1994, Qualiance International Limited operates at the intersection of textile science and industrial engineering, specializing in the design, manufacture, and export of high-performance technical garments for institutional, government, and brand clients internationally. Operating a 45,000 sq. ft. manufacturing facility in Tiruppur, Tamil Nadu with an installed capacity of 450,000 garments annually, the company holds eight active certifications including ISO 9001, SA 8000, and SEDEX SMETA with a 100% audit pass rate. Qualiance is a certified 3-Star Export House, trusted by the Swiss Confederation since 2004 for supplying entities like Armasuisse and SBB, and also manufactures for global brands such as Coolibar and Skechers.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
4 Sept
IPO Closes
8 Sept
Allotment
9 Sept
Listing
11 Sept
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 4 September 2026 |
| IPO Close Date | 8 September 2026 |
| Allotment Date | 9 September 2026 |
| Listing Date | 11 September 2026 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,54,000 |
SHNI (Min) | 3 | ₹3,81,000 |
SHNI (Max) | 7 | ₹8,89,000 |
BHNIAbove ₹10,00,000 | 8 | ₹10,16,000 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 49.91% |
| NII (Non-Institutional Investor) | 15.04% |
| Retail | 35.05% |
| Total | 100.00% |
IPO Objectives
- Funding the capital expenditure requirements of the company towards setting up a new manufacturing facility at Tiruppur, Tamil Nadu (₹38.00 Cr).
- General Corporate Purpose.
Strengths
- Specialized capabilities in cold weather and extreme-environment technical garments rated for -30 to -40 degrees Celsius.
- Strong government portfolio, maintaining a 25+ year trusted relationship with the Swiss Confederation and various European military buyers.
- Comprehensive in-house manufacturing with seven advanced processes including seam sealing, sew-free bonded assembly, laser cutting, and ultrasonic welding.
- Excellent financial growth, with revenue rising 47% YoY to ₹80.95 Cr and PAT expanding 142% YoY to ₹11.87 Cr in FY26.
Weaknesses
- High dependence on international markets and export policies, subjecting the company to global supply chain and forex risks.
- Significant reliance on a select group of government and institutional clients, primarily in Switzerland and Europe.
- Relatively elevated debt levels for its size, with total borrowings of ₹28.50 Cr against a net worth of ₹24.74 Cr (debt-to-equity ratio of 1.15x).
- The apparel and textile industry is highly competitive and susceptible to rapid changes in raw material costs.
Financial Performance
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets (₹ Cr.) | 68.99 | 57.53 | 43.14 |
| Revenue (₹ Cr.) | 80.95 | 55.06 | 38.14 |
| PAT (₹ Cr.) | 11.87 | 4.9 | 2.84 |
| Net Worth (₹ Cr.) | 24.74 | 13.82 | 8.92 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Qualiance International | 5.08 | 14.4 | 47.98% | 24.74 |
| S.P. Apparels Ltd. | 2.82 | 25.4 | 10.66% | 376.36 |
| Gokaldas Exports Ltd. | 2.6 | 54.61 | 4.63% | 294.83 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 4.1x | 5.75x | 299.6x |
| NII | 13.8x | 135.7x | 699.59x |
| S-HNI | 13.78x | 91.38x | 402.57x |
| B-HNI | 13.82x | 158.26x | 850.76x |
| RII | 19.29x | 120.73x | 447.13x |
| Total | 13.78x | 91.14x | 459.22x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 6,74,000 | 20,19,29,000 | 2,564.5 |
| NII | 5,07,000 | 35,46,94,000 | 4,504.61 |
| Small NII | 1,71,000 | 6,88,40,000 | 874.27 |
| Big NII | 3,36,000 | 28,58,54,000 | 3,630.35 |
| RII | 11,82,000 | 52,85,06,000 | 6,712.03 |
| Total | 23,63,000 | 1,08,51,29,000 | 13,781.14 |
Company Details
- Qualiance International Limited
- 406 - B Wing, Knox Plaza, Mindspace, Malad West, Mumbai 400 064, Maharashtra, India
- +91 22 4266 6003
- info@qualiance.com
- https://www.qualiance.com
Registrar Details
- MUFG Intime India Private Limited
- +91 22 4918 6000
- qualiance.smeipo@in.mpms.mufg.com
- https://www.in.mpms.mufg.com/
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Sources
We match Qualiance International SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- MUFG Intime India Private LimitedOfficial site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.