New Delhi, May 26 (H.S.): The ₹18.21 crore initial public offering (IPO) of Rajnandini Fashion India Limited, a company engaged in the production and marketing of designer clothing for women, was opened for subscription on Monday. Bidding in the issue will remain open till May 29.
The allotment of shares will be completed on June 1, while shares will be credited to demat accounts on June 2. The company’s shares may be listed on June 3 on the BSE SME platform. By 1 pm on the opening day, the IPO had already been subscribed 50 percent.
The price band for the issue has been fixed at ₹59 to ₹63 per share, with a lot size of 2,000 shares. Retail investors are required to apply for a minimum of two lots, i.e., 4,000 shares, requiring an investment of ₹2,52,000.
The issue comprises a total of 28.90 lakh fresh equity shares of face value ₹10 each.
In the IPO, 49.78 percent of the issue has been reserved for Qualified Institutional Buyers (QIBs), 35.13 percent for retail investors, and 15.09 percent for Non-Institutional Investors (NIIs).
Seren Capital Private Limited is the book-running lead manager for the issue, while Bigshare Services Private Limited is the registrar. Giriraj Stock Broking Private Limited is the market maker.
According to the Draft Red Herring Prospectus (DRHP) filed with SEBI, the company has shown steady improvement in financial performance. Rajnandini Fashion India Limited reported a net profit of ₹37 lakh in FY 2022–23, which rose to ₹2.29 crore in FY 2023–24 and further increased to ₹5.06 crore in FY 2024–25. In the first nine months of FY 2025–26 (April to December 2025), the company recorded a net profit of ₹5.14 crore.
The company’s revenue showed fluctuations but overall growth, rising from ₹28.02 crore in FY 2022–23 to ₹23.60 crore in FY 2023–24 and ₹31.27 crore in FY 2024–25. In the first nine months of FY 2025–26, revenue stood at ₹31.22 crore.
However, the company’s debt burden continued to rise, increasing from ₹6.19 crore in FY 2022–23 to ₹7.01 crore in FY 2023–24 and ₹8.84 crore in FY 2024–25. In the first nine months of FY 2025–26, total debt rose to ₹13.96 crore.
The company’s net worth also increased steadily, rising from ₹1.95 crore in FY 2022–23 to ₹4.24 crore in FY 2023–24 and ₹9.31 crore in FY 2024–25. In the first nine months of FY 2025–26, net worth reached ₹14.42 crore.
Reserves and surplus also grew from ₹1.73 crore in FY 2022–23 to ₹4.02 crore in FY 2023–24 and ₹9.09 crore in FY 2024–25, reaching ₹6.94 crore in the first nine months of FY 2025–26.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) also showed strong growth, rising from ₹1.03 crore in FY 2022–23 to ₹3.79 crore in FY 2023–24 and ₹7.48 crore in FY 2024–25. In the first nine months of FY 2025–26, EBITDA stood at ₹7.11 crore.
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Hindusthan Samachar / Jun Sarkar
