Incorporated in 2010, Rajnandini Fashion designs, manufactures, and sells women’s apparel across ethnic and casual wear categories through both online and offline channels.Its ethnic wear range includes sarees, kurtis, k…
Incorporated in 2010, Rajnandini Fashion designs, manufactures, and sells women’s apparel across ethnic and casual wear categories through both online and offline channels.Its ethnic wear range includes sarees, kurtis, kurta sets, and unstitched dress materials, whilecasual wear range covers tops, tunics, dresses, and maternity gowns made from fabrics such as cotton, rayon, silk, and poly-cotton.We operate in two segments:B2C (Business-to-Consumer): Direct sales through the co.website and major e-commerce platforms like Amazon, Flipkart, Myntra, Ajio, Nykaa, and others. The company processed 2.8 lakh orders in FY 2025.B2B (Business-to-Business): Supply of fabrics and ready-made garments to wholesalers, retailers, and garment processors. The B2B segment generated revenue of Rs 1,170.31 lakh in FY 2025.Its products are sold under four brands – Merira, Monira, Roly Poly, and Rajnandini, catering to different price segments. Product prices generally range between ₹250 and ₹2,000, depending on the category.The company set up first manufacturing unit in Surat in 2023 and expanded to Jaipur in 2024. The Surat unit has 90 sewing machines, and the Jaipur unit has 50. As of August 31, 2025, the company had a total workforce of 207 permanent employees.Competitive Strengths:Wide range of products across multiple price pointsPresence across multiple online platformsIn-house manufacturing facilitiesExperienced and Visionary Promoter Leadership
Rajnandini Fashion India Ltd IPO About the Company
Incorporated in 2010, Rajnandini Fashion designs, manufactures, and sells women’s apparel across ethnic and casual wear categories through both online and offline channels.Its ethnic wear range includes sarees, kurtis, kurta sets, and unstitched dress materials, whilecasual wear range covers tops, tunics, dresses, and maternity gowns made from fabrics such as cotton, rayon, silk, and poly-cotton.We operate in two segments:B2C (Business-to-Consumer): Direct sales through the co.website and major e-commerce platforms like Amazon, Flipkart, Myntra, Ajio, Nykaa, and others. The company processed 2.8 lakh orders in FY 2025.B2B (Business-to-Business): Supply of fabrics and ready-made garments to wholesalers, retailers, and garment processors. The B2B segment generated revenue of Rs 1,170.31 lakh in FY 2025.Its products are sold under four brands – Merira, Monira, Roly Poly, and Rajnandini, catering to different price segments. Product prices generally range between ₹250 and ₹2,000, depending on the category.The company set up first manufacturing unit in Surat in 2023 and expanded to Jaipur in 2024. The Surat unit has 90 sewing machines, and the Jaipur unit has 50. As of August 31, 2025, the company had a total workforce of 207 permanent employees.Competitive Strengths:Wide range of products across multiple price pointsPresence across multiple online platformsIn-house manufacturing facilitiesExperienced and Visionary Promoter Leadership
Rajnandini Fashion India Ltd IPO Analysis
Pros
ROE of 43.32% indicates good return on equity.
ROCE of 24.39% shows efficient capital usage.
PAT margin of 16.99%.
Cons
Detailed analysis available after listing.
Pros and cons are machine generated. Please exercise caution and do your own analysis.
Rajnandini Fashion India Ltd IPO Subscription Status
Consolidated figures
143.00× overall
Metric
QIB
NII (HNI)
Retail
Total
Subscription
49.77×
393.90×
167.37×
143.00×
Shares
13,66,000
4,14,000
9,64,000
27,44,000
Bids
6,79,80,000
16,30,74,000
16,13,48,000
39,24,02,000
▼ Category-wise Detailed Breakdown
Category
Subscription
Offered
Bid Shares
Amt (₹ Cr)
QIB
49.77×
13,66,000
6,79,80,000
₹428.27
NII (HNI)
393.90×
4,14,000
16,30,74,000
₹1,027.37
Retail
167.37×
9,64,000
16,13,48,000
₹1,016.49
Market Maker
1.00×
1,46,000
1,46,000
₹0.92
Total
143.00×
27,44,000
39,24,02,000
₹2,473.05 Cr
Applications: -Total Bid Amount: ₹2,473.05 Cr
Rajnandini Fashion India Ltd IPO Profit & Loss
Figures in ₹ Crores / Amount in ₹ Crore
Metric
31 Mar 2025
31 Mar 2024
31 Mar 2023
Revenue
31.27
23.60
28.02
EBITDA
7.48
3.79
1.03
Profit After Tax
5.05
2.29
0.37
Net Worth
9.29
4.24
1.95
Total Assets
25.35
15.74
11.71
Reserves
9.07
4.02
1.73
Borrowings
8.84
7.01
6.19
Sales Growth
3 Years:
-10.4%
Latest:
28.02 Cr
Profit Growth
3 Years:
-92.7%
Latest PAT:
0.37 Cr
Return on Equity
ROE:
43.32%
ROCE:
24.39%
Rajnandini Fashion India Ltd IPO Key Financial Ratios
Profitability
ROE43.32%
ROCE24.39%
RONW35.64%
PAT Margin16.99%
EBITDA Margin23.49%
Valuation
Pre EPS6.77
Post EPS6.61
Pre P/E9.31×
Post P/E9.53×
P/BV3.27×
Leverage & Growth
Debt / Equity0.97×
Sales Growth (3yr)-10.4%
Profit Growth (3yr)-92.7%
Latest Revenue28.02 Cr
Latest PAT0.37 Cr
Rajnandini Fashion India Ltd IPO Objects of the Issue
1Funding of capital expenditure for setting up a new manufacturing facility₹1.35 Cr
2Repayment of a portion of certain borrowings availed by our Company₹5.50 Cr
3Utilization towards working capital requirements₹7.00 Cr
4General Corporate Purpose
Rajnandini Fashion India Ltd IPO Schedule & Important Dates
IPO Open
2026-05-26
Done ✓
IPO Close
2026-05-29
Done ✓
Allotment
2026-06-01
Done ✓
Refund
2026-06-02
Done ✓
Demat Credit
2026-06-02
Done ✓
Listing
2026-06-03
Done ✓
Rajnandini Fashion India Ltd IPO Lot Size & Investment Details