Rajnandini Fashion India SME IPO
ListedBSE SMEOpens 26 May 2026Closes 29 May 2026
Rajnandini Fashion India Limited, incorporated in 2010, is a women's apparel manufacturer and trader specializing in both ethnic and casual wear categories. Its diverse product design portfolio spans sarees, kurtis,…
Rajnandini Fashion India Limited, incorporated in 2010, is a women's apparel manufacturer and trader specializing in both ethnic and casual wear categories. Its diverse product design portfolio spans sarees, kurtis, unstitched dress materials, contemporary tops, tunics, and specialized maternity gowns. The company operates a balanced hybrid distribution structure divided between B2C direct sales via its native storefront alongside top-tier marketplaces (Amazon, Myntra, Ajio, Flipkart), and a stable B2B fabric and readymade apparel distribution network supplying nationwide wholesalers. It houses independent dedicated production lines located inside both Surat and Jaipur, running over 140 industrial sewing units.
Show moreShow less
Key ratios
As per RHP / filingsTimeline
IPO Opens
26 May
IPO Closes
29 May
Allotment
1 Jun
Listing
3 Jun
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 26 May 2026 |
| IPO Close Date | 29 May 2026 |
| Allotment Date | 1 June 2026 |
| Listing Date | 3 June 2026 |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,52,000 |
SHNI (Min) | 3 | ₹3,78,000 |
SHNI (Max) | 7 | ₹8,82,000 |
BHNIAbove ₹10,00,000 | 8 | ₹10,08,000 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 49.78% |
| NII (Non-Institutional Investor) | 15.09% |
| SHNI (Small Non-Institutional Investor) | 4.78% |
| BHNI (Big Non-Institutional Investor) | 9.55% |
| Retail | 35.13% |
| Market Maker | 5.05% |
| Total | 100.00% |
IPO Objectives
- Funding of capital expenditure requirements for setting up a new operational manufacturing facility (₹1.35 Cr).
- Repayment or prepayment of a portion of certain outstanding borrowings availed by the Company (₹5.50 Cr).
- Utilization towards ongoing working capital requirements of the company (₹7.00 Cr).
- General Corporate Purposes.
Strengths
- The company builds an Omnichannel Sourcing Pipeline, balancing direct consumer e-retail traction with deep B2B fabric and bulk readymade supply agreements.
- It leverages a Brand Multiplicity Structure, cleanly distributing products under four specialized labels ('Merira', 'Monira', 'Roly Poly', and 'Rajnandini') targeting multiple consumer price elasticities.
- The business controls an In-House Manufacturing Base, scaling operations across dual owned hubs inside major textile zones (Surat and Jaipur) containing over 140 industrial sewing units.
- It shows Healthy Operating Multipliers, commanding high efficiency margins with a recorded PAT margin of 16.99% and a restated financial ROE of 43.32% for late 2025.
Weaknesses
- The company exhibits Highly Volatile Revenues, with historical top-line trajectories reflecting clear inconsistencies between FY23 and FY25 before modern asset configurations took place.
- There is an Aggressive Margin Acceleration, where the sudden pre-IPO jump in bottom-line profits raises analytical skepticism regarding near-term stability and sustainability cycles.
- The business faces Deep Competitive Friction, operating in a highly fragmented, regionalized, and price-sensitive women's apparel sector characterized by negligible entry barriers.
- It has High Return Exposure, being directly subject to severe operational margin pressure due to elevated consumer product return ratios in the e-commerce B2C channel.
Financial Performance
| Period Ended | 31 Dec 2025 (9M) | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 35.8 | 25.35 | 15.74 | 11.71 |
| Revenue (₹ Cr.) | 31.22 | 31.27 | 23.6 | 28.02 |
| PAT (₹ Cr.) | 5.14 | 5.06 | 2.29 | 0.37 |
| Net Worth (₹ Cr.) | 14.42 | 9.31 | 4.24 | 1.95 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 3.51x | 3.51x | 122.04x |
| NII | 2.15x | 11.04x | 393.63x |
| S-HNI | 0.3x | 7.88x | 199.64x |
| B-HNI | 3.07x | 12.62x | 490.63x |
| RII | 0.46x | 7.18x | 168.63x |
| Total | 1.69x | 6.97x | 203.74x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 5,48,000 | 6,68,78,000 | 421.33 |
| NII | 4,14,000 | 16,29,64,000 | 1,026.67 |
| Small NII | 1,38,000 | 2,75,50,000 | 173.56 |
| Big NII | 2,76,000 | 13,54,14,000 | 853.11 |
| RII | 9,64,000 | 16,25,64,000 | 1,024.15 |
| Total | 19,26,000 | 39,24,06,000 | 2,472.16 |
Company Details
- Rajnandini Fashion India Ltd.
- G1-41, RIICO, Tonk Road, Sitapura Industrial Area, Jaipur, Rajasthan, 302022
- +91-7878352054
- cs@rfil.in
- https://rfil.in/
Registrar Details
- Bigshare Services Pvt.Ltd.
- +91-22-6263 8200
- ipo@bigshareonline.com
- https://www.bigshareonline.com/
Frequently Asked Questions
What does Rajnandini Fashion India do?
When did the Rajnandini Fashion India SME IPO close?
How much was the Rajnandini Fashion India IPO subscribed?
What was the price band and final issue price of Rajnandini Fashion India IPO?
What is the Grey Market Premium (GMP) of Rajnandini Fashion India IPO today?
Where will Rajnandini Fashion India IPO be listed?
Rajnandini Fashion India SME IPO News & Updates
Follow the latest updates for Rajnandini Fashion India SME IPO, including grey market moves and allotment news.
Rajnandini Fashion India SME IPO IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
Rajnandini Fashion India SME IPO Details
Issue size, price, financials, and company info
Rajnandini Fashion India SME IPO GMP
Live grey market premium and listing estimate
Rajnandini Fashion India SME IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
Rajnandini Fashion India SME IPO Allotment
Allotment date, chances, and check by PAN
Rajnandini Fashion India SME IPO Review
SWOT, strengths, risks, and IPO review
Rajnandini Fashion India SME IPO FAQ
Common questions on dates, GMP, and allotment
Rajnandini Fashion India SME IPO Registrar
Registrar website and how to check allotment
Rajnandini Fashion India SME IPO Timeline
Open, close, allotment, and listing dates
Rajnandini Fashion India SME IPO News
Updates, blogs, and latest IPO news
Sources
We match Rajnandini Fashion India 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
- Bigshare Services Pvt.Ltd.Official 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.