IPO Analysis
R.K.Fashion IPO Analysis: GMP, Financials, Valuation & Risks
R.K.Fashion IPO is open from October 5 to October 7, 2026. Price band is 77 to 82 per share, and the latest unofficial GMP is 0 as of 5 Oct 2026, 12:14 am IST.
By Vraj Shah
· 4 min read
AI wrote this article from prospectus and exchange data, and software checked its figures against that data before publishing. How our content is made
Summary
R.K.Fashion IPO is open on NSE SME from October 5 to October 7, 2026. The price band is 77 to 82 per share, and the latest unofficial grey market premium is 0 as of 5 Oct 2026, 12:14 am IST.
IPO snapshot
| Particulars | Details |
|---|---|
| Issue type | Book Building Issue |
| Exchange | NSE SME |
| IPO type | SME |
| Price band | 77 to 82 Per Share |
| Face value | 10 Per Equity Share |
| Issue size | Approx 34.99 Crores |
| Fresh issue | Approx 34.99 Crores |
| Offer for sale | Not available |
| Registrar | Not available |
| Date | Details |
|---|---|
| Open | October 5, 2026 |
| Close | October 7, 2026 |
| Allotment | October 8, 2026 |
| Refunds | October 9, 2026 |
| Credit to demat | October 9, 2026 |
| Listing | October 12, 2026 |
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 3200 | 2,62,400 |
| Retail Maximum | 2 | 3200 | 2,62,400 |
| S-HNI Minimum | 3 | 4800 | 3,93,600 |
| S-HNI Maximum | 7 | 11200 | 9,18,400 |
| B-HNI Minimum | 8 | 12800 | 10,49,600 |
Business
R.K. Fashion Accessories was founded in March 2010. It makes imitation jewellery and also trades branded cosmetics.
The company sells under the brands City Girl and Manikya. Its product range includes bangles, earrings, necklaces, chains, rings, bracelets, mangalsutras, sets, and CZ/AD jewellery for wedding, festive, and daily-wear segments.
R.K. Fashion sells through B2B wholesale, e-commerce retailing, and corporate retail tie-ups. It also has a presence in Kolkata, sells through 120 shop-in-shop counters, and has fulfilled over 10,000 online orders monthly.
Financials
| Period ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2025 | 17.82 | 15.02 | 2.00 | 16.88 |
| 2026 | 31.54 | 23.25 | 6.29 | 23.88 |
Valuation
| Metric | Value |
|---|---|
| ROE | 48.40% |
| ROCE | 57.74% |
| EBITDA margin | 24.16% |
| PAT margin | 20.71% |
| Debt to equity ratio | [.] |
| EPS | 5.59 (Basic) |
| P/E ratio | N/A |
| RoNW | 38.90% |
| NAV | 14.37 |
GMP
The latest unofficial grey market premium is 0 as of 5 Oct 2026, 12:14 am IST. That quote is not an exchange figure.
| Date | Unofficial GMP | Estimated listing price | Estimated listing percent |
|---|---|---|---|
| 5 Oct 2026, 12:14 am IST | 0 | 82 | 0 |
Strengths
- FY 2026 operating EBITDA of ₹733.51 lakhs with 24.16% margin
- FY 2026 PAT of ₹628.69 lakhs with 20.71% margin
- SIS counters expanded from 105 in FY 2025 to 120 in FY 2026
- Client retention rate above 90%
- Multi-platform e-commerce execution with 63,665 orders in FY 2026 and 14,107 orders in Apr-Jun 2026
- B2B business contributed 95.16% of FY 2026 revenue
Risks
- Revenue is concentrated in Eastern India, with Bihar, Jharkhand, Odisha and West Bengal contributing 76% to 92% of revenue.
- West Bengal contributed 61.67% of revenue in the stub period, so dependence on one state is high.
- Related party transactions were Rs. 882.10 lakhs in FY24 and 66.40% of revenue, with material levels in later periods too.
- Outstanding demand totals Rs. 800, including TDS defaults of Rs. 360 and Rs. 440.
- Operating cash flows were negative in FY26 and the stub period, despite improved net working capital.
- The jewellery market is highly competitive, with unorganized players creating pricing pressure and margin erosion.
- The SIS model ties revenue to retail-partner footfall and direct in-store competition.
Important dates
| Event | Date |
|---|---|
| Issue open | October 5, 2026 |
| Issue close | October 7, 2026 |
| Allotment | October 8, 2026 |
| Refunds | October 9, 2026 |
| Credit to demat | October 9, 2026 |
| Listing | October 12, 2026 |
Promoters
The promoters of the company are Md.Qasim, Mohammed Usman, Mohammed Imran and Md.Aurangzeb.
FAQs
What is the issue size of R.K.Fashion IPO?
The issue size is Approx 34.99 Crores.
What is the price band for the IPO?
The price band is 77 to 82 Per Share.
What is the lot size for retail investors?
Retail Minimum and Retail Maximum are both 2 lots, 3200 shares, and 2,62,400.
What is the latest unofficial GMP?
The latest unofficial grey market premium is 0 as of 5 Oct 2026, 12:14 am IST.
When is the listing date?
The listing date is October 12, 2026.