Rajnandini Fashion India IPO

Rajnandini Fashion India IPO Details

Rajnandini Fashion India IPO is a 100% book-built issue of 28.90 lakh equity shares, entirely a fresh issue of shares, with a face value of ₹10 per share. The company filed its DRHP with SEBI on September 30, 2025.

The price band of this issue is set at ₹59 to ₹63 per share and the lot size for an application is 2,000 shares. The minimum amount of investment required by an individual investor is ₹2,52,000 (4,000 shares). The IPO will open for subscription from May 26 to 29, 2025, on the BSE SME platform, with a tentative listing date fixed as June 3, 2026. The book-running lead manager of the issue is Seren Capital Private Limited, while the registrar to the issue is Bigshare Services Private Limited.

Rajnandini Fashion India IPO Date & Timeline

The Rajnandini Fashion India IPO is officially set to open for subscription on May 26, 2026 and will close on May 29, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on September 30, 2025 and has now finalized its schedule following SEBI approval. Once the subscription window allotment is expected on Jun 1, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on Jun 2, 2026. Finally, Rajnandini Fashion India Ltd.'s shares are tentatively scheduled to list on the stock exchanges on Jun 3, 2026.

Rajnandini Fashion India IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Rajnandini Fashion India IPO GMP is currently trading at ₹6, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹69, which is 9.52% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Rajnandini Fashion India Ltd. was incorporated as “Vyoum Trade Link Private Limited” in October 2010 and then in January 2025, the company transformed into a public limited company to proceed with its public listing procedure.

Over the past decade, the business has systematically evolved from a pure-play trading model into an integrated textile enterprise. The company mainly engages in the design, processing and wholesaling of modern ethnic wear, sarees and unstitched garments that cater to a broad demographic across the domestic consumer base.

Headquartered in Jaipur, Rajasthan, a major cultural and operational base for its unique culture; Also, a significant presence in Surat, Gujarat, which is recognised as India's premier synthetic textile cluster. This dual-state presence of the company in these states allows the balance of traditional design capabilities with high-volume procurement advantages.

Operations & Product Range

Rajnandini Fashion India Ltd. operates in the manufacturing, trading and designing of women’s apparel, catering to both the domestic and international markets via online and offline channels. Their comprehensive product portfolio has helped them stand out in the trending and highly competitive market for over a decade.

With the production model asset-light through strategic outsourcing of capital-heavy processing tasks, the management focuses heavily on design curation and inventory velocity. The potential targets are wholesale distributors, large-format retail chains and independent regional merchants who cater to value-conscious consumers.

Facilities & Capacity

Rajnandini Fashion India Ltd. manages its administrative and warehousing functions through its registered office in Jaipur and its corporate office in Surat, Gujarat. These facilities handle corporate strategy, inventory accounting, design approvals and centralised distribution to wholesale buyers. The installed capacity of the company as of FY25 was reported as 4.44 lakh (in pcs) and the actual capacity was at 3.60 lakh (in pcs), with a capacity utilisation of 83.35%.

Brands & Market Presence

"Rajnandini" is the trade name for Rajnandini Fashion India Ltd., having gained an identifiable image in both domestic and international markets. "Rajnandini" is known as a trusted supplier of ethnic clothing at affordable prices by capitalizing on the design trends of the region and appeals to customers during festivals or weddings. Rajnandini has a strong domestic market presence and is distributed to several states. It is well-certified in terms of quality management systems and business practices required for developing vendor relations with large-format retail aggregators.

Revenue Streams & Business Model

The primary revenue source of Rajnandini Fashion India Ltd. is the sale of manufactured and traded textile products, divided between processed fabrics and finished ethnic wear. The multi-product revenue stream protects the firm from sharp seasonal fluctuations in any single product category. In this, 100% of revenue is generated from the domestic Indian market, with no direct export exposure recorded in recent financial periods. Revenue generation relies on upfront payments or short-term credit terms extended to trusted wholesale partners, ensuring steady cash flows to fund ongoing raw material procurement.

Management & Shareholding

The promoters of Rajnandini Fashion India Ltd. are Stallion Infrabuild Private Limited and Manoj Kumar Jangid. Before the IPO, the promoters held a 99.98% stake and the promoter group held a 0.02% stake; collectively, they held the major stake in the company, but after the IPO, the promoters’ shareholding will be diluted as the offering includes a fresh issue of 26.88 lakh shares, which invites the public to join.

Board & Key Management

The leadership of Rajnandini Fashion India Ltd. is led by a team of experts with many years of experience. Vikesh Sushil Lunawat serves as the Chairman & Managing Director and gives strategic direction to the firm and the daily operations, along with Whole-Time Director Sushil Kumar Lunawat. To ensure good governance, the board includes Independent Directors Vaibhav Mandhana and Shubham Jain for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.