Rajnandini Fashion India SME IPO covered 1.62x on day 1; NIIs, QIBs lead the book
Surat-based women's ethnic and casual wear maker Rajnandini Fashion India saw its ₹18.2 cr SME IPO (price band ₹59-63) fully subscribed on day one, with QIBs at 3.51x and NIIs at 2.14x. Brand sells via Amazon, Flipkart, Myntra, Ajio and Nykaa Fashion. GMP holding at ₹6.
Women's ethnic/casual wear maker Rajnandini Fashion India's SME IPO (₹18.2 cr, price band ₹59-63) was 1.62x subscribed on day 1, led by NIIs and QIBs. Sells via Amazon, Flipkart, Myntra, Ajio, Nykaa Fashion; GMP ₹6.
Why this matters
Follows Rajnandini's anchor allotment of 8.18 lakh shares at ₹63 just ahead of the public issue, signaling institutional appetite for the Surat-based ethnic wear maker's listing.
Retail-company activity steady with 1,182 signals over the past 90 days.