The Rajnandini Fashion India initial public offering (IPO) began on Tuesday, 26 May, and will end on Friday, 29 May. Rajnandini Fashion India IPO price band is set in the range of ₹59-63 per equity share, with a face value of ₹10 per share.
Investors can bid for a minimum of 2,000 equity shares, with the option to acquire additional shares in increments of 2,000.
Rajnandini Fashion India operates in the women’s clothing sector and is dedicated to designing, producing, and selling ethnic and casual wear through both digital and physical channels. The company mainly concentrates on women’s fashion segments and meets the increasing demand in the organised apparel market.
Rajnandini Fashion India operates through two business segments—B2C (Business-to-Consumer) and B2B (Business-to-Business).
In the B2C segment, the company sells its products directly through its website and leading e-commerce platforms, including Amazon India, Flipkart, Myntra, Ajio, and Nykaa Fashion. The segment recorded sales of approximately 22.91 lakh units as of December 2025.
Its B2B business focuses on supplying fabrics and ready-made garments to wholesalers, retailers, and garment processors, generating revenue of ₹15.23 crore during the period ended December 2025.
The company promotes its offerings through four distinct brands—Merira, Monira, Roly Poly, and Rajnandini—each aimed at various customer demographics and price ranges. Product prices generally range from ₹250 to ₹2,000, depending on the category.
Rajnandini Fashion launched its initial manufacturing facility in Surat in 2023 and broadened its production capacity with a second plant in Jaipur in 2024. The Surat facility is outfitted with 90 sewing machines, while the Jaipur facility has 50, enhancing the company’s growing production capabilities.
Rajnandini Fashion India IPO GMP today
Rajnandini Fashion India IPO GMP today is +6. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rajnandini Fashion India share price was indicated at ₹69 apiece, which is 9.52% higher than the IPO price of ₹63.
Based on grey-market activity observed over the last six sessions, today’s IPO GMP is trending downward and is expected to decline further. Experts indicate that the lowest GMP stands at ₹6.00, while the highest is ₹8.00.
Rajnandini Fashion India IPO details
The BSE SME offering aims to generate approximately ₹18.2 crore through a new issuance of 28.9 lakh equity shares. For HNI investors, the minimum application requirement is 3 lots (6,000 shares), totalling ₹3.78 lakh. Prior to the IPO launch, the company secured about ₹5.15 crore from anchor investors on 25 May.
The funds raised from the IPO are anticipated to support working capital needs and other general corporate expenses. This offering takes place despite ongoing market volatility, with continued investor interest in SME IPOs.
Seren Capital serves as the book-running lead manager for the offering, while Bigshare Services is the registrar. Giriraj Stock Broking will act as the market maker for the IPO.
Rajnandini Fashion India IPO subscription status
Rajnandini Fashion India IPO subscription status was 1.62x on day 1, so far. The retail portion was subscribed to at 32%, the NII portion was booked at 2.14x. Qualified Institutional Buyers (QIBs) portion was subscribed 3.51x.
The company has received bids for 31,22,000 shares against 19,26,000 shares on offer at 15:27 IST, according to chittorgarh.com
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