Rajnandini Fashion India IPO

Incorporated in October 2010, Rajnandini Fashion India is an apparel company that designs, manufactures, and sells women's ethnic and casual wear. Its wide-range product includes everything from sarees, kurtis, and unstitched dress materials to modern tops, fusion wear, and maternity gowns. To attract a wide audience, it prices its products between ₹250 and ₹2,000, applying varied fabrics like cotton, silk, rayon, and poly-cotton.

In the initial year of its business the company depended totally on outsourcing its production and trading fabrics. However, they shifted to in-house manufacturing by opening their first production facility in Surat in 2023, followed by a second unit in Jaipur in 2024. Today, these two facilities operate with a total of 140 sewing machines. Installed capacity at Surat unit stood at 4,60,460 pieces with capacity utilisation of 87.21% in 9MFY26 while capacity at Jaipur unit stood at 2,45,700 pieces with utilisation of 68.03%.

Its products are cotton tops, tunics, kurta sets, maternity dresses, general dresses, kurtas, patiala suits, fabrics, unstitched dresses, sarees and co-ord sets. It divided its business into two primary sections - B2C and B2B. In the B2C section, the company sells directly to consumers via its official website and major e-commerce websites and apps like Amazon, Flipkart, Myntra, and Nykaa. Its B2B section focuses on the broader textile supply chain. In this segment, it supplies semi-stitched outfits and bulk fabrics such as printed and dyed materials directly to clothing processors, wholesalers, and retail businesses. B2B and B2C made up 50.35% and 49.65% of revenue respectively in 9MFY26. As of 9MFY26, the company delivered 2.90 lakhs orders.

The company sells its products in more than 35 states and union territories in India. The company has carried out sales in international markets and its products are exported to four countries. Its main revenue came from manufacturing casual and ethnic wears ~78% in 9MFY26. Domestically, Gujarat is the main contributor which made up 35.36% of revenue in 9MFY26, followed by Rajasthan at 44.88% and Maharashtra at 19.12%. The USA was the main contributor in export, making up 87.63% of export sales in 9MFY26. Its competitors in the organised segment are Nandani Creation Limited and Libas Consumer Products Limited.