Rajnandini Fashion IPO Listing Preview: June 3 BSE SME Debut Expected at Rs 69-71 Based on Rs 6-8 Grey Market Premium
- June 1, 2026
- Posted by: Ankit Jaiswal
- Category: IPO
Rajnandini Fashion IPO listing is on June 3, 2026 on BSE SME. Allotment was finalised on June 1, 2026. Grey market premium stands at Rs 6-8 per share, implying an expected listing price of Rs 69-71, a gain of 9.5% to 12.7% over the issue price of Rs 63. The Rajnandini Fashion IPO listing follows a subscription window from May 26-29, 2026. Issue size: Rs 18.21 crore (100% fresh issue).
The Rajnandini Fashion IPO listing on June 3, 2026 is two days away, with allotment having been finalised today on June 1, 2026. The Rajnandini Fashion IPO listing is expected on the BSE SME platform at approximately Rs 69-71 per share, based on a grey market premium of Rs 6-8 per share tracked ahead of the listing date. This implies a Rajnandini Fashion IPO listing gain of 9.5% to 12.7% over the upper issue price of Rs 63. The IPO subscription window ran from May 26 to May 29, 2026, and the company, which designs, manufactures, and sells women’s ethnic and casual apparel, will make its market debut in a tepid SME IPO environment where only 20 mainboard IPOs listed in the first five months of 2026.
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Rajnandini Fashion IPO Listing: Key Details
| Parameter | Details |
|---|---|
| Rajnandini Fashion IPO Listing Date | June 3, 2026 (BSE SME) |
| Grey Market Premium (GMP) | Rs 6-8 per share |
| Expected Listing Price (GMP basis) | Rs 69-71 per share |
| Implied Listing Gain | 9.5% to 12.7% |
| Issue Price (Upper Band) | Rs 63 per share |
| Price Band | Rs 59 to Rs 63 per share |
| Allotment Date | June 1, 2026 |
| Refund Date | June 2, 2026 |
| Share Credit Date | June 2, 2026 |
| Subscription Window | May 26 to May 29, 2026 |
| Issue Size | Rs 18.21 crore (100% fresh issue) |
| Anchor Allocation | Rs 5.15 crore (May 25, 2026) |
| Lot Size | 2,000 shares (min 2 lots for retail) |
| Min Retail Investment | Rs 2,52,000 |
| Lead Manager | Seren Capital Pvt. Ltd. |
| Registrar | Bigshare Services Pvt. Ltd. |
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About Rajnandini Fashion India: Women’s Apparel Across Channels
Rajnandini Fashion India Limited is a Kolkata-incorporated company (2010) that has built a manufacturing presence in Surat and Jaipur for women’s ethnic and casual apparel. The Rajnandini Fashion IPO listing will bring the company into the public market with a brand portfolio that includes Merira, Monira, Roly Poly, and Rajnandini. The company’s B2C business operates across major e-commerce platforms including Amazon, Flipkart, Myntra, Ajio, and Nykaa, where it processed approximately 22.91 lakh orders as of December 2025. Its B2B segment supplies fabrics and ready-made garments to wholesalers, retailers, and garment processors, with B2B revenue of Rs 11.70 crore in FY 2024-25.
Manufacturing capacity of approximately 2,729 garments per day (71,014 per month) across the Surat facility (90 sewing machines) and Jaipur facility (50 sewing machines) supports both B2C and B2B supply. As of April 30, 2026, the company employs 146 permanent employees. The Rajnandini Fashion IPO listing proceeds will be used to fund working capital, capex, and general corporate purposes.
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Rajnandini Fashion IPO Listing Context: Tepid SME IPO Market in 2026
The Rajnandini Fashion IPO listing takes place in a challenging primary market environment. India’s IPO market saw only 20 mainboard IPO listings in the five months from January to May 2026, with only two mainboard IPOs in May. This tepid environment has kept grey market premiums subdued across many SME issues, and the Rajnandini Fashion IPO listing GMP of Rs 6-8 reflects this broader market caution rather than any company-specific weakness. SME fashion sector IPOs have historically commanded modest listing premiums given the highly competitive and fragmented nature of India’s women’s apparel market.
What to Expect on Rajnandini Fashion IPO Listing Day
On the Rajnandini Fashion IPO listing day of June 3, 2026, investors should track the opening price closely. For SME listings, the price can vary significantly from the GMP-implied price, particularly in volatile market conditions. The overall Sensex and Nifty direction on June 3 will also influence intraday listing performance. Given the modest GMP and tepid market sentiment, allotted investors may consider booking partial profits at the open if the listing price meets or exceeds the GMP-implied range of Rs 69-71. Investors who did not receive allotment should assess the listing price relative to fundamentals before entering on listing day.
Conclusion
The Rajnandini Fashion IPO listing on June 3, 2026 is expected to open at Rs 69-71 based on the prevailing grey market premium of Rs 6-8, implying a moderate listing gain of 9.5% to 12.7% over the issue price of Rs 63. The Rajnandini Fashion IPO listing comes in the context of a tepid SME IPO market in 2026, a highly competitive women’s apparel industry, and a company that is still in an early growth phase. Allotted investors should apply their own risk management on listing day. This article does not constitute investment advice. Always consult a SEBI-registered financial advisor before making investment decisions based on IPO GMP or listing price data.
Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice.
Frequently Asked Questions on Rajnandini Fashion IPO Listing
What is the Rajnandini Fashion IPO listing date and expected listing price?
Ans. The Rajnandini Fashion IPO listing date is June 3, 2026 on the BSE SME platform. Based on a grey market premium of Rs 6-8 per share tracked ahead of listing, the expected listing price is approximately Rs 69-71, representing a listing gain of 9.5% to 12.7% over the issue price of Rs 63. Allotment was finalised on June 1, 2026. Investors can check their allotment status on the Bigshare Services website, the registrar for the issue.
What is the Rajnandini Fashion IPO price band and issue size?
Ans. The Rajnandini Fashion IPO price band is Rs 59 to Rs 63 per share, with a lot size of 2,000 shares. Retail investors must apply for a minimum of 2 lots (4,000 shares), requiring a minimum investment of Rs 2,52,000 at the upper price band. The Rajnandini Fashion IPO listing-bound issue raised Rs 18.21 crore through a 100% fresh issue of 0.29 crore equity shares. Anchor investors provided Rs 5.15 crore on May 25, 2026.
What does Rajnandini Fashion India do?
Ans. Rajnandini Fashion India Limited, incorporated in 2010, designs, manufactures, and sells women’s apparel across ethnic wear and casual wear categories. The ethnic wear portfolio includes sarees, kurtis, kurta sets, and unstitched dress materials, while casual wear includes tops, tunics, dresses, and maternity gowns. The company operates across both B2C channels (its own website and major e-commerce platforms including Amazon, Flipkart, Myntra, Ajio, and Nykaa) and B2B channels (supply to wholesalers and retailers). It processed approximately 22.91 lakh orders as of December 2025.
What are the Rajnandini Fashion IPO subscription numbers?
Ans. The Rajnandini Fashion IPO subscription window ran from May 26 to May 29, 2026. The issue is an SME IPO with a retail quota of 50% and NII quota of 50%. Subscription data showed muted initial interest on Day 1 of the subscription window, which is common for smaller SME fashion sector IPOs, with final subscription numbers expected to be updated at BSE after the close on May 29. Allotment based on final subscription has been finalised on June 1, 2026.
Where are Rajnandini Fashion’s manufacturing facilities?
Ans. Rajnandini Fashion established its first manufacturing facility in Surat in 2023 and expanded with a second facility in Jaipur in 2024. The Surat facility has 90 sewing machines, while the Jaipur unit operates 50 sewing machines, giving a combined capacity of approximately 2,729 garments per day or 71,014 garments per month. The company sells its products under multiple brands including Merira, Monira, Roly Poly, and Rajnandini. As of April 30, 2026, the company employs 146 permanent employees.
What are the risks for the Rajnandini Fashion IPO listing on June 3?
Ans. Key risks for the Rajnandini Fashion IPO listing on June 3, 2026 include the highly competitive nature of India’s women’s apparel market, where the company competes with established brands and unorganised players across all price points. The company’s dependence on e-commerce platforms like Amazon, Flipkart, Myntra, and Ajio for the majority of B2C revenue creates platform dependency risk. The small operational scale (146 employees, two manufacturing facilities) and the overall tepid IPO market sentiment in 2026 are additional risk factors. Grey market premiums can change significantly before the Rajnandini Fashion IPO listing date.
Who are the promoters and lead manager for Rajnandini Fashion IPO?
Ans. The promoters of Rajnandini Fashion India are Vikesh Sushil Lunawat, Sushil Kumar Lunawat, and Priyanka Chopra (not the Bollywood actress). Seren Capital Pvt. Ltd. is the book running lead manager and Bigshare Services Pvt. Ltd. is the registrar. Giriraj Stock Broking Pvt. Ltd. is the Market Maker for the Rajnandini Fashion IPO listing on BSE SME.
How can I check the Rajnandini Fashion IPO allotment status?
Ans. Allotment for the Rajnandini Fashion IPO was finalised on June 1, 2026. Investors can check their allotment status on the Bigshare Services website (the registrar) using their PAN number, application number, or DP Client ID. Allotment status can also be checked on the BSE website. Unallotted application amounts will be refunded from June 2, 2026, and allotted shares will be credited to demat accounts by June 2, 2026, ahead of the Rajnandini Fashion IPO listing on June 3.
