Bookbuilding IPO | ₹18 Cr | Listed at BSE SME | Tue, May 26, 2026 - Fri, May 29, 2026
Rajnandini Fashion India IPO is a book build issue of ₹18.21 crores. The issue is entirely a fresh issue of 0.29 crore shares of ₹18.21 crore.
Rajnandini Fashion India IPO bidding started from May 26, 2026 and ended on May 29, 2026. The allotment for Rajnandini Fashion India IPO was finalized on Jun 1, 2026. The shares got listed on the BSE SME on Jun 3, 2026.
Rajnandini Fashion India IPO is set final issue price at ₹63 per share. The lot size for an application is 2,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,52,000 (4,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (6,000 shares), amounting to ₹3,78,000.
Seren Capital Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd.
Refer to Rajnandini Fashion India IPO RHP for detailed Information.
IPO Open
Tue, May 26, 2026
IPO Close
Fri, May 29, 2026
Issue Price
₹63 per share
Market Cap (Pre-IPO)
₹65.33 Cr
| IPO Date | 26 to 29 May, 2026 |
| Listed on | Wed, Jun 3, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹59 to ₹63 |
| Issue Price | ₹63 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 28,90,000 shares (agg. up to ₹18 Cr) |
| Reserved for Market Maker | 1,46,000 shares Giriraj Stock Broking Pvt.Ltd. (agg. up to ₹0.9198 Cr) |
| Fresh Issue (Ex Market Maker) | 27,44,000 shares (agg. up to ₹17 Cr) |
| Net Offered to Public | 27,44,000 shares (agg. up to ₹17 Cr) |
| Share Holding Pre Issue | 74,80,000 shares |
| Share Holding Post Issue | 1,03,70,000 shares |
| BSE Script Code / | 544771 / |
| ISIN | INE1GM501015 |
Rajnandini Fashion India IPO comprises a total issue size of 28,90,000 shares. The net offer to the public is 27,44,000 shares, after excluding 1,46,000 shares allotted on a firm basis. Of the Net offer 13,66,000 (49.78%) are allocated to QIB, 4,14,000 (15.09%) allocated to NII 9,64,000 (35.13%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 13,66,000 | 49.78% | 47.27% |
| − Anchor Investor Shares Offered | 8,18,000 | 28.30% | |
| − QIB (Ex. Anchor) Shares Offered | 5,48,000 | 18.96% | |
| NII (HNI) Shares Offered | 4,14,000 | 15.09% | 14.33% |
| − bNII > ₹10L | 2,76,000 | 9.55% | |
| − sNII < ₹10L | 1,38,000 | 4.78% | |
| Retail Shares Offered | 9,64,000 | 35.13% | 33.36% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,46,000 | 5.05% | |
| Total Shares Offered | 28,90,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 4,000 | ₹2,52,000 |
| Individual investors (IND) (Max) | 2 | 4,000 | ₹2,52,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,78,000 |
| S-HNI (Max) | 7 | 14,000 | ₹8,82,000 |
| B-HNI (Min) | 8 | 16,000 | ₹10,08,000 |
Rajnandini Fashion India IPO raises ₹5.15 crore from anchor investors. Rajnandini Fashion India IPO Anchor bid date is May 25, 2026.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, May 25, 2026 |
| Shares Offered | 8,18,000 |
| Anchor Portion (₹ Cr.) | 5.15 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Jun 30, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, Aug 29, 2026 |
Incorporated in 2010, Rajnandini Fashion 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 made from fabrics such as cotton, rayon, silk, and poly-cotton.
We operate in two segments:
Its products are sold under four brands – Merira, Monira, Roly Poly, and Rajnandini, catering to different price segments. Product prices generally range between ₹250 and ₹2,000, depending on the category.
The company set up first manufacturing unit in Surat in 2023 and expanded to Jaipur in 2024. The Surat unit has 90 sewing machines, and the Jaipur unit has 50. As of April 30, 2026, the company had a total workforce of 146 permanent employees.
Competitive Strengths:
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 35.80 | 25.35 | 15.74 | 11.71 |
| Total Income | 31.22 | 31.27 | 23.60 | 28.02 |
| Profit After Tax | 5.14 | 5.06 | 2.29 | 0.37 |
| EBITDA | 7.11 | 7.48 | 3.79 | 1.03 |
| NET Worth | 14.42 | 9.31 | 4.24 | 1.95 |
| Reserves and Surplus | 6.94 | 9.09 | 4.02 | 1.73 |
| Total Borrowing | 13.96 | 8.84 | 7.01 | 6.19 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|
| Kiaasa Retail Ltd. | SME | ₹69.74 Cr | ₹127 | ₹116.85 | -7.99% | ₹42.10 (-2.37%) |
| Fractal Industries Ltd. | SME | ₹49.00 Cr | ₹216 | ₹217.55 | +0.72% | ₹215.95 (+0.93%) |
| Vashishtha Luxury Fashion Ltd. | SME | ₹8.87 Cr | ₹111 | ₹121.75 | +9.68% | ₹69.00 (+6.81%) |
| Kaytex Fabrics Ltd. | SME | ₹69.81 Cr | ₹180 | ₹150.60 | -16.33% | ₹61.00 (-2.94%) |
| N R Vandana Tex Industries Ltd. | SME | ₹27.89 Cr | ₹45 | ₹43.70 | -2.89% | ₹72.60 (-3.84%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of capital expenditure for setting up a new manufacturing facility | 1.35 |
| 2 | Funding for repayment of a portion of certain borrowings availed by the Company | 5.50 |
| 3 | Utilization towards working capital requirements | 7.00 |
| 4 | General Corporate Purposes | 1.28 |
| Total | 15.14 |
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 43.32% | 74.74% |
| ROCE | 24.39% | 40.00% |
| Debt/Equity | 0.97 | 0.95 |
| RoNW | 35.64% | 54.41% |
| PAT Margin | 16.99% | 16.50% |
| EBITDA Margin | 23.49% | 24.38% |
| Price to Book Value | 3.27 | 5.06 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.77 | 6.61 |
| P/E (x) | 9.31 | 9.53 |
| Promoter Holding | 97.19% | 70.11% |
| Market Cap | ₹65.33 Cr. |
The Rajnandini Fashion India IPO is subscribed 203.74 times on May 29, 2026 6:54:42 PM (Day 3). The public issue subscribed 168.63 times in the individual investors category, 122.04 times in the QIB category, and 393.63 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| QIB (Ex Anchor) | 122.04 | 5,48,000 | 6,68,78,000 | 0 |
| NII* | 393.63 | 4,14,000 | 16,29,64,000 | 0 |
| bNII (> ₹10L) | 490.63 | 2,76,000 | 13,54,14,000 | |
| sNII (< ₹10L) | 199.64 | 1,38,000 | 2,75,50,000 | |
| Individual Investor | 168.63 | 9,64,000 | 16,25,64,000 | 0 |
| Total | 203.74 | 19,26,000 | 39,24,06,000 | 53,518 |
Total Applications: 53,518
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees (including underwriting commission and all other fees by whatever name called) | 2.62 |
| 2 | Fees Payable to Registrar to the Issue | 0.05 |
| 3 | Fees Payable for Advertising, Printing and Publishing Expenses | 0.13 |
| 4 | Fees Payable to Regulators including Stock Exchanges, CDSL and NSDL | 0.18 |
| 5 | Fees Payable to Statutory Auditor, Legal Advisors and other Professionals | 0.08 |
| 6 | Others (Commission/processing fee for SCSBs, Sponsor Bank and Banker(s) to the Issue and brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs) | 0.02 |
| Total | 3.07 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹63.00 |
| Open | ₹63.00 |
| Low | ₹60.00 |
| High | ₹64.00 |
| Last Trade | ₹60.57 |
Lead Manager Reports
Rajnandini Fashion India IPO is a SME IPO of 28,90,000 equity shares of the face value of ₹10 aggregating up to ₹18 Crores. The issue is priced at ₹63 per share. The minimum order quantity is 2000.
The IPO opens on Tue, May 26, 2026, and closes on Fri, May 29, 2026.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Rajnandini Fashion India IPO using UPI as a payment gateway. Zerodha customers can apply in Rajnandini Fashion India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rajnandini Fashion India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rajnandini Fashion India IPO opens on Tue, May 26, 2026 and closes on Fri, May 29, 2026.
Rajnandini Fashion India IPO lot size is 2000, and the minimum amount required for application is ₹2,52,000, with 2 lots being the minimum application size.
You can apply in Rajnandini Fashion India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Rajnandini Fashion India IPO will be done on Monday, June 1, 2026, and the allotted shares will be credited to your demat account by Tue, Jun 2, 2026. Check the Rajnandini Fashion India IPO allotment status.
The Rajnandini Fashion India IPO listing date is on Wed, Jun 3, 2026.
