Rajnandini Fashion share price makes flat debut, lists at ₹63, same as SME IPO price
Rajnandini Fashion India debuted at ₹63 on the BSE SME, meeting expectations with a grey market premium of ₹6. The IPO was oversubscribed by 203.74 times, with significant interest from retail and institutional investors. The company aims to raise ₹13.85 crore for business growth.
Rajnandini Fashion India IPO Listing: Rajnandini Fashion India share price made a flat debut in the Indian stock market today, 3 June. Rajnandini Fashion share price was listed on Wednesday at ₹63. apiece on BSE SME, same as its issue price.
The SME IPO outperformed Street expectations, as seen from the grey market premium (GMP). The GMP for the IPO stood at ₹6 per share, which indicated a likely listing price of ₹69, a premium of 9.5% from its IPO price of ₹63.
Rajnandini Fashion India IPO Subscription Status
Rajnandini Fashion IPO witnessed an extraordinary subscription in the 3 days of bidding. It was subscribed 203.74 times by the end of Day 3. The retail portion was bid 168.63 times, the NII portion was booked 393.63 times, and the Qualified Institutional Buyers (QIBs) segment was subscribed 122.04 times.
The company received bids for 39.24 crore shares against 19.26 lakh shares on offer.
Rajnandini Fashion India IPO Details
The Rajnandini Fashion India SME IPO was available for subscription from May 26 to May 29, while the basis of allotment was finalised on June 1.
The public issue was a book-built offering aggregating ₹18.21 crore and consisted solely of a fresh issue of 29 lakh equity shares. There was no offer-for-sale (OFS) component in the IPO.
The company fixed the IPO price at ₹63 per equity share. Investors were required to bid in lots of 2,000 shares. For retail participants, the minimum application size was 4,000 shares, requiring an investment of ₹2,52,000 based on the issue price.
Rajnandini Fashion India intends to deploy the net proceeds of ₹13.85 crore towards various business objectives. Of this, ₹1.35 crore has been earmarked for capital expenditure related to the establishment of a new manufacturing facility. Another ₹5.50 crore will be utilised for partial repayment of certain outstanding borrowings, while ₹7 crore has been allocated to meet working capital requirements. The balance amount will be used for general corporate purposes.
The IPO lot size was fixed at 2,000 shares. Retail investors had to apply for a minimum of two lots, equivalent to 4,000 shares, translating into a minimum investment of around ₹2,90,000 at the upper end of the price band.
Ahead of the IPO launch, the company mobilised ₹5.15 crore from anchor investors. The anchor investor bidding process was conducted on May 25, 2026.
Established in 2010, Rajnandini Fashion India is engaged in the design, manufacturing and sale of women's apparel through both online and offline distribution channels. The company caters to ethnic wear as well as casual wear segments.
Its ethnic wear portfolio comprises sarees, kurtis, kurta sets and unstitched dress materials. The casual wear range includes tops, tunics, dresses and maternity gowns. These products are manufactured using a variety of fabrics, including cotton, rayon, silk and poly-cotton.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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