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₹63 - 63
Rajnandini Fashion India Ltd
TradingIPOSME
₹63 - 63
The Company is primarily engaged in the design, manufacturing and sale of women's apparel, catering to both ethnic and casual wear categories through online and offline channels. Our ethnic wear portfolio includes unstitched dress materials, sarees, kurtis and kurta sets, while the casual wear portfolio comprises tops, tunics and maternity gowns made of poly-cotton, rayon, silk, cotton and other fabrics.
Lot2,000Min Invest₹2,52,000Face Value₹10Issue Size₹18 CrFresh Issue₹18 CrListing Price₹63CMP₹24
Timeline
26 May
Bidding opens
29 May
Bidding closes
1 Jun
Allotment
2 Jun
Refund & demat credit
3 Jun
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹18 Cr0.29 Cr shares
Fresh Issue₹18 Cr
Face Value₹10
Lot Size2,000 shares
ReservationQIB 49.78% · NII 15.09% · RETAIL 35.13%
Application Sizes
Retail₹2,52,0001-1 lots
sNII₹2,52,000from 2 lots
bNII₹10,08,000from 8 lots
Managers & Registrar
Lead ManagerSeren Capital Private Limited
RegistrarBigshare Services Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group97.17%70.09%Public2.83%29.91%
Objects of the Issue
- Funding of capital expenditure for setting up a new manufacturing facility
- Funding for repayment of a portion of certain borrowings availed by the Company
- Utilization towards working capital requirements
- General corporate purposes
Anchor Book
Bid Date25-May-2026Shares8,18,000Amount₹5 Cr30-day lock-in30-Jun-202690-day lock-in29-Aug-2026
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 26 | 28 | 23 | 31 | 37 |
| Operating ProfitCr | 1 | 1 | 4 | 8 | 9 |
| OPM% | 2.6 | 3.8 | 16.2 | 24.8 | 23.8 |
| PBTCr | 1 | 1 | 3 | 7 | 8 |
| PATCr | 0 | 0 | 2 | 5 | 6 |
| EPS | 36 | 18 | 3 | 7 | 8 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 0 | 0 | 0 | 0 | 7 |
| ReservesCr | 1 | 2 | 4 | 9 | 8 |
| BorrowingsCr | 3 | 6 | 7 | 9 | 13 |
| Fixed AssetsCr | - | - | - | - | 1 |
| Total AssetsCr | 7 | 10 | 16 | 25 | 36 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | -2 | -4 | 1 | -1 | -1 |
| Investing Cash FlowCr | 0 | 0 | -1 | 0 | 0 |
| Financing Cash FlowCr | 2 | 4 | 0 | 1 | 2 |
| Net Cash FlowCr | 0 | 0 | 0 | 0 | 1 |
Strengths & Risks
Strengths · as stated in the DRHP
- Wide range of products across multiple price points.
- Presence across multiple online platforms.
- In-house manufacturing facilities.
- Experienced Management Team & Promoters.
Strategies · as stated in the DRHP
- Capacity Expansion and Product Portfolio Diversification to Drive Growth.
- B2B and B2C Expansion.
- Expanding footprints across diverse geographies.
- Leveraging Social Media and External Collaborations
- Adherence to Customer Specifications and Quality Standards.
Risks · as stated in the DRHP
- The company is a women's apparel design, manufacturing and retail company which is vulnerable to variations in demand and changes in consumer preferences, which could has an adverse effect on its business, results of operations and financial condition.
- The company has recently commenced in-house manufacturing of its products and given the company limited operating history in manufacturing, its may faces challenges that could adversely affect the company business, financial condition, results of operations and future growth prospects.
- The company derives a significant portion of its revenue from fabric and apparel trading activities, which is a low-margin and competitive business and may expose its to risks that could adversely affect the company financial performance.
- The company relies substantially on third-party e-commerce platforms for a significant portion of its business and any decision by such platforms to change their policies, delist or restrict sellers, increase fees or commissions, or otherwise alter their operations could adversely affect the company business, financial condition and results of operations.
- The company business is dependent on the sale of casual and ethnic wear products which contributed 78.84%, 75.33%, 90.97% and 97.72% of its revenue from operations for the period ended December 31, 2025, and for Fiscals 2025, 2024 and 2023, respectively. Any variations in demand and changes in customer preferences could has an adverse effect on the company business, financial condition, results of operations and cash flows.
- The company does not has long-term agreements with its customers and the company revenues is significantly dependent on recurring purchase orders, particularly from the company top B2B customers.