Rajnandini Fashion India IPO - Company Analysis
Rajnandini Fashion India Limited is launching its SME IPO through a book-built issue worth ₹18.21 crore. The company is engaged in designing, manufacturing, and marketing women’s apparel across ethnic wear and casual wear categories through both online and offline channels.
The business operates in two segments:
B2C (Business-to-Consumer)
Under the B2C segment, the company sells products directly through its official website and leading e-commerce platforms such as Amazon, Flipkart, Myntra, Ajio, and Nykaa. In FY 2025, the company processed around 2.8 lakh orders.
B2B (Business-to-Business)
The company also supplies textiles and ready-made garments to wholesalers, retailers, and garment processors. In FY 2025, the B2B segment generated revenue of ₹1,170.31 lakh.
Its products are marketed under four brands — Merira, Monira, Roly Poly, and Rajnandini — targeting different customer segments and price categories. Product prices generally range between ₹250 and ₹2,000.
Rajnandini Fashion India IPO Details
The Rajnandini Fashion India IPO opening date is 26 May 2026, while the IPO closes on 29 May 2026. The IPO allotment is expected on 01 June 2026, and refunds may begin on 02 June 2026.
The ₹18.21 crore SME IPO consists entirely of a fresh issue of 0.29 crore equity shares.
The expected Rajnandini Fashion India IPO listing date is 03 June 2026 on the BSE SME platform.
The Rajnandini Fashion India IPO price band has been fixed at ₹59 to ₹63 per share.
IPO Timetable (Tentative)
Click to open free demat account and apply for the IPO.
Company Financials
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Cash Flows
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Revenue Bifurcation
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(Source: RHP)
Objectives of the Rajnandini Fashion India IPO
The company plans to utilize the net proceeds from the Rajnandini Fashion India IPO for the following purposes:
Funding capital expenditure for setting up a new manufacturing facility – approximately ₹1.41 crore.
Repayment of a portion of certain borrowings availed by Rajnandini Fashion India Limited – approximately ₹5.50 crore.
Meeting working capital requirements – approximately ₹9 crore.
General corporate purposes.
Listed Peers of Rajnandini Fashion India Ltd.
Valuation
Rajnandini Fashion India IPO Valuation
Evaluation of P/E Ratio
Considering FY 2025 earnings, Rajnandini Fashion India Limited reported an EPS of ₹6.75. Based on the upper price band of ₹63, the Rajnandini Fashion India IPO P/E ratio comes to 9.3x.
Rajnandini Fashion India IPO Strengths
Wide range of products across multiple price segments.
Strong presence across various online e-commerce platforms.
In-house manufacturing facilities.
Experienced and visionary promoter leadership.
Rajnandini Fashion India IPO Risks & Weaknesses
A significant portion of revenue comes from fabric and garment trading, which is a highly competitive and low-margin business segment that may affect profitability.
Heavy dependence on third-party e-commerce platforms for sales.
Business performance is largely dependent on the women’s ethnic wear and casual wear segment.
Rajnandini Fashion India IPO GMP Today
Rajnandini Fashion India IPO GMP today is ₹6 as of 28 May 2026. Based on the upper price band of ₹63, the estimated Rajnandini Fashion India IPO listing price could be around ₹71 per share.
The current Grey Market Premium (GMP) indicates an estimated listing gain of nearly 12.70% for investors tracking the SME IPO market and latest IPO GMP trends.
Rajnandini Fashion India IPO Summary
IPO Lot Details
Retail investors can invest in a minimum and maximum of 2 Lots (4000 Shares) for Rs. 2,52,000, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (6000 Shares) for Rs. 3,78,000.
Rajnandini Fashion India IPO Allotment Status
Investors can check the Rajnandini Fashion India IPO allotment status online through the official Registrar website or the BSE website once the allotment process is completed.
You can check the Rajnandini Fashion India IPO allotment status using your PAN number, application number, or DP/Client ID details through the official IPO allotment links provided below.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Rajnandini Fashion India Ltd.
Vikesh Sushil Lunawat
Sushil Kumar Lunawat
Priyanka Chopra.
IPO Lead Managers
Seren Capital Pvt. Ltd.
Rajnandini Fashion India IPO Dividend Policy
Rajnandini Fashion India Limited has not declared or paid any dividend during the last three financial years.
Rajnandini Fashion India IPO Review & Conclusion
The Rajnandini Fashion India IPO is an SME book-built issue worth ₹18.21 crore with an IPO opening date from 26 May 2026 to 29 May 2026 and a price band of ₹59 to ₹63 per share.
The company operates in the textile and garment supply business under the B2B segment while also selling women’s ethnic wear and casual wear products through B2C platforms such as Amazon, Flipkart, Myntra, Ajio, and Nykaa.
The IPO proceeds will be utilized for working capital requirements, repayment of borrowings, setting up a new manufacturing facility, and general corporate purposes.
Investors searching for Rajnandini Fashion India IPO review, Rajnandini Fashion India IPO GMP, SME IPO 2026, textile IPO in India, apparel sector IPO, and latest IPO details may track this public issue ahead of its expected BSE SME listing.
To read the Rajnandini Fashion India IPO DRHP and company prospectus, investors can visit the official registrar or exchange website for the DRHP download link.
DISCLAIMER: This blog does not constitute any buy or sell recommendation. No investment or trading advice is being provided. The content is intended solely for educational and informational purposes. Investors should consult a qualified financial advisor before making any investment decisions.
