Rajnandini Fashion's ₹18.21 cr SME IPO allotment due today; issue drew 203.74x demand
Women's apparel seller Rajnandini Fashion India closes its SME IPO with 203.74x subscription at the ₹59-63 price band. Grey market premium of ₹7 points to an ~11% listing pop on BSE SME debut June 3. Allotment expected June 1 via Bigshare Services; 28.9 lakh shares on offer.
What happened
Women's apparel seller Rajnandini Fashion India's ₹18.21 crore SME IPO allotment expected June 1, listing June 3 on BSE SME. Issue subscribed 203.74x; GMP at ₹7
Key facts
- ₹18.21 crore
- ₹59-63 price band
- GMP ₹7
- 203.74x subscription
- 28.9 lakh shares
Why this matters
Rajnandini's oversubscribed ₹18.21 cr raise validates SME IPO as a viable funding route for sub-scale apparel players and could prompt peer issuers to accelerate listing timelines.