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.
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 capital, a new manufacturing facility and debt repayment.
Why this matters
Demand built sharply through the book: the issue was 1.62x covered on day 1 before closing 189x. Rajnandini had earlier allotted 8.18 lakh anchor shares at Rs 63, signaling institutional appetite ahead of the public leg.
Retail-company signals steady at 1,510 over the last 90 days.