Rajnandini Fashion India IPO

About Rajnandini Fashion India IPO

The Rajnandini Fashion India IPO opens on Tuesday, May 26, 2026 and closes on Friday, May 29, 2026. The allotment of shares will take place on Monday, June 1, 2026. The credit of shares to the demat account will take place on Tuesday, June 2, 2026. The initiation of refunds will take place on Tuesday, June 2, 2026. The listing of shares will take place on Wednesday, June 3, 2026.

The offer consists of a fresh issue component. The fresh issue will include 0.29 crore shares of ₹18.21 crore. The total number of shares and aggregate amount are 28,90,000 shares aggregating up to ₹18 crores.

Rajnandini Fashion India IPO’s price band is set at ₹59 to ₹63 per share. The lot size for an application is 2,000. The minimum amount of investment required by a retail investor 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. The Rajnandini Fashion India IPO will be listed on the BSE SME (SME Platform of BSE Limited) upon completion of the offer.

Incorporated in 2010, Rajnandini Fashion India 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. Their 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.

Objectives of Rajnandini Fashion India IPO

• Funding of capital expenditure for setting up a new manufacturing facility.
  
• Repayment of a portion of certain borrowings availed by the company.
  
• Utilization towards working capital requirements.
  
• General corporate purpose.
  

Industry Outlook

The Indian textiles and apparel industry is one of the largest globally and a key contributor to the country’s economy. The domestic market is projected to grow at a CAGR of 10% to reach USD 35000 crores by 2030, supported by rising incomes, urbanization and growth in organised retail. The textile industry in India is predicted to double its contribution to the GDP, rising from 2.3% to approximately 5% by the end of this decade. The growth of the segment is supported by rising household incomes, demographic expansion and demand from end-use sectors such as housing, hospitality and healthcare. Companies in the segment are also adopting digital technologies to strengthen value chains.

About Rajnandini Fashion India

Incorporated in 2010, Rajnandini Fashion India 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. Their 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. Their sales operations are carried out under two segments – business-to-consumer (B2C) and business-to-business (B2B). In the B2C segment, sales are made directly to individual customers through various e-commerce platforms and their own website. The company markets its products under four brands, namely Merira, Monira, Roly Poly and Rajnandini.

Strengths of Rajnandini Fashion India

• Wide range of products across multiple price points.
  
• Presence across multiple online platforms.
  
• In-house manufacturing facilities.
  
• Experienced management team & promoters.
  

Risks of Rajnandini Fashion India <

• They are a women’s apparel design, manufacturing and retail company which is vulnerable to variations in demand and changes in consumer preferences.
  
• They have recently commenced in-house manufacturing of their products and given their limited operating history in manufacturing, they may face challenges that could adversely affect their business.
  
• They derive a significant portion of their revenue from fabric and apparel trading activities, which is a low-margin and competitive business.
  
• They rely substantially on third-party e-commerce platforms for a significant portion of their business.
  
• Their business is dependent on the sale of casual and ethnic wear products.
  

(i) Source – All the financial information for listed industry peer mentioned above is sourced from the Financial Results of the aforesaid companies for period ended March 31, 2025 and stock exchange data dated May 19,2026 to compute the corresponding financial ratios.

(ii) For the Company, they have taken Current Market Price as the issue price of equity share. Further, P/E Ratio is based on the current market price of the respective scrips.

(iii) The EPS, NAV, RoNW and total Revenue of the company are taken as per Restated Financial Statement for the Period ended March 31, 2025.

(iv) NAV per share of the company is computed as the closing net worth divided by the weighted average number of paid-up equity shares as on March 31, 2025.

(v) RoNW has been computed as net profit after tax divided by closing net worth.

(vi) Net worth has been computed in the manner as specified in Regulation 2(1) (hh) of SEBI (ICDR) Regulations, 2018.

(vii) The face value of Equity Shares of the company is ₹ 10/- per Equity Share and the Issue price is [-] times the face value of equity shares.

Anchor Investor Bidding Date: Monday, May 25th, 2026

Note: Bidding will not be conducted on Thursday, May 28, 2026, on account of a public holiday. The company in consultation with the BRLM may consider participation by Anchor Investors in accordance with the SEBI ICDR Regulations. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/ Issue Opening Date.

Registrar: Bigshare Services Private Limited is a SEBI-registered registrar and share transfer agent (SEBI Registration No. INR000001385) headquartered in Mumbai, Maharashtra. They handle IPO processing, share allotment, refund initiation, demat credit services, and investor grievance redressal for this offer. Investors may reach them at ipo@bigshareonline.com or +91 022-6263 8200.

Book Running Lead Manager: Seren Capital Private Limited

Rajnandini Fashion India Business Model

The company earns its revenue through design, manufacturing and sale of women’s apparel, catering to both ethnic and casual wear categories through online and offline channels.

Rajnandini Fashion India Growth Trajectory

Rajnandini Fashion India’s Total Income for FY25 was ₹31.267 crores, whereas in FY24 and FY23 it was ₹23.598 crores and ₹28.021 crores, respectively.

The Profit After Tax for FY25 was ₹5.064 crores, whereas in FY24 and FY23 it was ₹2.290 crores and ₹0.375 crores, respectively.

Their EBITDA for FY25 was ₹7.483 crores, whereas in FY24 and FY23 it was ₹3.788 crores and ₹1.028 crores, respectively.

Rajnandini Fashion India Market Position

The company markets its products in the business-to-consumer (B2C) segment through e-commerce platforms such as Amazon, Flipkart, Myntra, AJIO, Nykaa, LimeRoad and others, in addition to its own website (www.rajnandinifashion.com). The company has been acknowledged by Flipkart as the “Gold Seller” as on March 1, 2025, in the Women’s Ethnic Wear category and has been identified as a ‘Star Seller’ on Shopsy as on May 20, 2024.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹31.267 crores, ₹5.064 crores, and ₹7.483 crores, respectively.

How to apply for Rajnandini Fashion India IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.