Rajnandini Fashion India Limited
Bookbuilding IPO · BSE
- Price band
- ₹59 - ₹63
- Lot size
- 2,000 shares
- Issue amount
- ₹18.21 cr
- Total subscription
- 203.82×
- Opens
- 26 May 2026
- Closes
- 29 May 2026
- Allotment
- 1 Jun 2026
- Listing
- 3 Jun 2026
Offer at a glance
Issue overview
- Issue size
- 28,90,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,18,000
- Fresh issue
- ₹18.21 cr
- Offer for sale
- ₹0 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,26,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 74,80,000
- Shares after issue
- 1,03,70,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 4,000 | ₹2,52,000 |
| sHNI | 3 | 6,000 | ₹3,78,000 |
| bHNI | 8 | 16,000 | ₹10,08,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 29 May 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 60 |
| NIB | 0 | 12,660 |
| RETAIL | 241 | 40,641 |
| EMPLOYEES | 0 | 0 |
| HNIs(10L +) | 46 | 8,213 |
| HNIs (2-10L) | 23 | 4,447 |
| Shareholder | 0 | 0 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 3.45 | 421.33 |
| FIIs | 0 | 68.15 |
| Others | 0 | 353.14 |
| RETAIL | 6.07 | 1,024.15 |
| NIB | 2.61 | 1,027.59 |
| HNIs 2+ | 0.87 | 173.56 |
| HNIs 10+ | 1.74 | 854.03 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Dec-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 6.87 | 6.77 | 3.06 | 0.99 |
| ROE | 43.32 | 74.74 | 73.92 | 26.48 |
| ROCE | 24.39 | 40 | 31.78 | 12.25 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 0 | 0 | 0 |
| POST IPO(PE) | 0 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Rajnandini Fashion India Limited | 9.31 | 63.00 | 10.00 | 12.44 | 54.41 | 6.77 |
| Nandani Creation Limited | 12.33 | 29..72 | 10.00 | 33.99 | 7.10 | 2.41 |
| Libas Consumer Products Limited | 9.99 | 12.29 | 10.00 | 31.02 | 3.24 | 1.23 |
Company information
Company profile
Founded in 2010, Rajnandini Fashion is engaged in designing, manufacturing, and selling women’s apparel in both ethnic and casual wear categories through online and offline platforms. Its ethnic collection includes sarees, kurtis, kurta sets, and unstitched dress materials, while the casual wear range features tops, tunics, dresses, and maternity gowns made from fabrics like cotton, rayon, silk, and poly-cotton. The company operates in both B2C and B2B segments, selling directly through its website and leading e-commerce platforms such as Amazon, Flipkart, Myntra, Ajio, and Nykaa, while also supplying fabrics and garments to wholesalers and retailers. Its products are marketed under four brands – Merira, Monira, Roly Poly, and Rajnandini – with pricing generally ranging from ₹250 to ₹2,000. The company established its first manufacturing unit in Surat in 2023 and later expanded to Jaipur in 2024. Together, both units operate with 140 sewing machines, and as of August 31, 2025, the company employed 207 permanent staff members.
Strengths
- Diversified Apparel Portfolio: Offers ethnic and casual wear across multiple brands and price segments.
- Strong Online Presence: Availability on major e-commerce platforms supports wider customer reach and sales growth.
- In-House Manufacturing Capabilities: Own production facilities improve quality control and operational efficiency.
Risk factors
- High Competition in Fashion Industry: Faces strong competition from established apparel and D2C brands.
- Dependence on E-commerce Platforms: Significant reliance on online marketplaces may impact margins and visibility.
- Fashion Trend Sensitivity: Demand depends on changing consumer preferences and seasonal trends.
Promoters
Vikesh Sushil Lunawat
Sushil Kumar Lunawat
Priyanka Chopra
Registrar & documents
Lead manager
Seren Capital Private Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
G1-41, RIICO, Tonk Road Sitapura Industrial Area Jaipur, Rajasthan, 302022
+91-7878352054
[email protected]Company website ↗Understanding RFIL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.