Rajnandini Fashion Ipo
Rajnandini Fashion IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Seren Capital Pvt.Ltd.
| Name of the Company | Face Value (₹) | EPS basic (₹) | EPS Diluted (₹) | RONW (%) | P/E Ratio | NAV (₹) |
| Powerica Limited | 5 | 15.26 | 15.26 | 15.37 % | 24.45 | 99.76 |
| Listed Peers | ||||||
| Cummins India Limited | 2 | 72.15 | 72.15 | 26.45% | 64.13 | 272.78 |
| Kirloskar Oil Engines Limited | 2 | 33.71 | 33.60 | 15.85% | 43.24 | 212.60 |
| NTPC Green Energy Limited | 10 | 0.67 | 0.67 | 2.58% | 129.40 | 21.88 |
| Acme Solar Holdings Limited | 2 | 4.55 | 4.53 | 5.59% | 50.74 | 74.54 |
| Adani Green Energy Limited | 10 | 8.37 | 8.37 | 11.90% | 101.53 | 76.62 |
| IPO Open Date | May 26, 2026 |
| IPO Close Date | May 29, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹59 to ₹63 Per Share |
| Issue Size | Approx ₹18.21 Crores, 28,90,000 Equity Shares |
| Fresh Issue | Approx ₹18.21 Crores, 28,90,000 Equity Shares |
| Issue Type | Book Building Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 4,000 | ₹2,52,000 |
| Retail Maximum | 2 | 4,000 | ₹2,52,000 |
| S-HNI Minimum | 3 | 6,000 | ₹3,78,000 |
| S-HNI Maximum | 7 | 14,000 | ₹8,82,000 |
| B-HNI Minimum | 8 | 16,000 | ₹10,08,000 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 8,18,000 Shares | 28.30% |
| QIB (Ex. Anchor) | 5,48,000 Shares | 18.96% |
| NII Shares Offered | 4,14,000 Shares | 14.33% |
| Retail Shares Offered | 9,64,000 Shares | 33.36% |
| Anchor Bidding Date | May 25, 2026 |
| Anchor Investors List | |
| Shares Offered | 8,18,000 Shares |
| Anchor Size | 5.15 Cr. |
| lock-in period end date 50% shares (30 Days) | July 1, 2026 |
| lock-in period end date 50% shares (90 Days) | August 30, 2026 |
| IPO Open Date: | May 26, 2026 |
| IPO Close Date: | May 29, 2026 |
| Basis of Allotment: | June 1, 2026 |
| Refunds: | June 2, 2026 |
| Credit to Demat Account: | June 2, 2026 |
| IPO Listing Date: | June 3, 2026 |
| IPO Bidding Cut-off Time: | May 29, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 74,80,000 | 97.19% |
| Promoter Holding Post Issue | 1,03,70,000 | -% |
| Purpose | Crores |
| Funding of capital expenditure for setting up a new manufacturing facility | ₹1.35 |
| Repayment of a portion of certain borrowings availed by our Company | ₹5.50 |
| Utilization towards working capital requirements | ₹7.00 |
| General Corporate Purpose | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹28.02 | ₹27.51 | ₹0.37 | ₹11.71 |
| 2024 | ₹23.60 | ₹20.53 | ₹2.29 | ₹15.74 |
| 2025 | ₹31.27 | ₹24.48 | ₹5.05 | ₹25.35 |
| Dec 2025 | ₹31.22 | ₹24.24 | ₹5.14 | ₹35.80 |
| KPI | Values |
| ROE: | 74.74% |
| ROCE: | 40.00% |
| EBITDA Margin: | 24.38% |
| PAT Margin: | 16.50% |
| Debt to equity ratio: | [.] |
| Earning Per Share (EPS): | ₹6.77 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 54.41% |
| Net Asset Value (NAV): | ₹12.44 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Nandani Creation Limited | 2.41 | 12.33 | 7.10 | 33.99 | 69.64 Cr. |
| Libas Consumer Products Limited | 1.23 | 9.99 | 3.24 | 31.02 | 91.91 Cr. |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹184.81 | ₹154.97 | ₹32.10 | ₹251.58 |
| 2024 | ₹206.45 | ₹175.85 | ₹34.44 | ₹339.25 |
| 2025 | ₹322.58 | ₹261.43 | ₹28.13 | ₹455.49 |
| Dec 2025 | ₹236.50 | ₹186.96 | ₹38.69 | ₹561.34 |