Rajnandini Fashion's Rs 18.21 cr SME IPO subscribed 189x; lists June 3 with Rs 7 GMP
Women's ethnic and casual wearmaker priced its BSE SME IPO at Rs 59-63 with a 29 lakh share fresh issue. Demand ran hot: NII 291x, retail 169x, QIB 122x. Grey market premium of Rs 7 implies a modest 11% listing pop. Proceeds fund working capital, a new manufacturing facility and debt repayment.
What happened
Women's ethnic and casual wear maker Rajnandini Fashion India's BSE SME IPO was subscribed 189x; allotment June 1, listing June 3. Proceeds fund working
Key facts
- price band Rs 59-63
- fresh issue 29 lakh shares
- issue size Rs 18.21 crore
- subscribed 189.46x
- QIB 122.04x
- NII 291.27x
- retail 168.63x
- GMP Rs 7
- listing June 3
Why this matters
Rajnandini's successful raise validates continued investor appetite for women's ethnic-wear plays at 11-12x earnings, opening a window for similar-scale apparel SMEs to pursue listings or strategic partnerships on comparable terms.