Rajnandini Fashion IPO
Market Sentiment
IPO Details
IPO Reservation
Market Lot Size
Financial Analysis
| Metric | 2023 | 2024 | 2025 | Dec 2025 |
|---|---|---|---|---|
| Revenue | 28.02 | 23.60 | 31.27 | 31.22 |
| Expense | 27.51 | 20.53 | 24.48 | 24.24 |
| Profit (PAT) | 0.37 | 2.29 | 5.05 | 5.14 |
| Total Assets | 11.71 | 15.74 | 25.35 | 35.80 |
| Company | P/E | EPS |
|---|---|---|
| Nandani Creation Limited | 12.33 | 2.41 |
| Libas Consumer Products Limited | 9.99 | 1.23 |
Promoters: Vikesh Sushil Lunawat, Sushil Kumar Lunawat and Priyanka Chopra
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 74,80,000 | 97.19% |
| Promoter Holding Post Issue | 1,03,70,000 | 72.13% |
Strengths & Risks
- Heavily oversubscribed — 189.4x overall (so far).
- Strong institutional (QIB) demand — 122.0x.
- Revenue grew 33% in the latest reported year.
- Solid profit margin — 16.2%.
- Strong return on equity — 75%.
No major red flags in the available data.
Auto-generated from live GMP, subscription, valuation and financial data. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Rajnandini Fashion Designs, founded in 2010, is involved in the manufacturing and selling of women’s clothes and fashion products via online and offline channels. The firm mainly focuses on the sale of ethnic and casual wear under the women’s category. In the Ethnic range, they sell sarees, kurtis, kurta sets, and unstitched dress materials, and under casual wear, they sell tops, tunics, dresses, and maternity gowns using various materials such as cotton, rayon, silk, and poly-cotton. The company runs its business under the B2C model, where they sell its products via its own and 3rd party website like Amazon, Flipkart, Myntra, Ajio, Nykaa, and others, and the B2B model, where they supply the fabrics and garments to wholesalers and retailers. Moreover, its products are sold under 4 brands, including Merira, Monira, Roly Poly, and Rajnandini.
| Purpose | Amount (Cr) |
|---|---|
| Funding of capital expenditure for setting up a new manufacturing facility | 1.41 |
| Repayment of a portion of certain borrowings availed by our Company | 5.50 |
| Utilization towards working capital requirements | 9.00 |
| General Corporate Purpose | - |
Resources & Documents
Rajnandini Fashion India Ltd., G1-41, RIICO,, Tonk Road, Sitapura Industrial Area, Jaipur, Rajasthan, 302022
Rajnandini Fashion has set a price band of Rs 59–Rs 63 per share for an issue size of Rs 18 crore. The stock listed flat against its issue price.
Rajnandini Fashion Designs, founded in 2010, is involved in the manufacturing and selling of women’s clothes and fashion products via online and offline channels. The firm mainly focuses on the sale of ethnic and casual wear under the women’s category.
The issue is promoted by Vikesh Sushil Lunawat, Sushil Kumar Lunawat and Priyanka Chopra with Seren Capital Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding of capital expenditure for setting up a new manufacturing facility (Rs 1 crore) and Repayment of a portion of certain borrowings availed by our Company (Rs 6 crore).
Grey market is quoting a premium of +Rs 7 (+11.1% over issue price), up Rs 1 from the previous session. Final subscription data records overall subscription at 189.39x, retail at 168.49x, QIB at 122.04x, NII at 291.26x.
On fundamentals, the company is posting revenue growth of 32.5%, a profit margin of 16.2%, return on equity of 74.6% in its most recent reported period. Listed peers in this segment include Nandani Creation Limited (P/E 12.33x) and Libas Consumer Products Limited (P/E 9.99x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as a Subscribe call — the composite picture tilts favourable, though not without some caveats. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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