Qualiance International IPO
Qualiance International Limited · Apparel Manufacturing
- Price band
- To be announcedNot in this filing
- Issue size
- 35,52,000 sharesFresh issue · amount set with price
- Face value
- ₹10per equity share
- Lot size
- To be announcedMin. investment shown once set
- Anchor biddingThu, 2026
- OpensFri, 2026
- ClosesTue, 2026
- AllotmentThu, 2026Demat credit same day
- ListingFri, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 35,52,000 shares
- Offer for sale
- None
- Total issue
- 35,52,000 shares
- Market maker portion
- 1,80,000 shares
- Face value
- ₹10
- Listing at
- NSE Emerge
- Promoter holding
- 77.88% → 58.38%
- RHP date
- 31 Aug 2026
Source: Red Herring Prospectus dated 31 Aug 2026Updated
Reservation
Share of the total issue- QIB47.4%
- Retail33.3%
- NII14.3%
- Market maker5.1%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 11,82,000 | 35.05% | 35% |
| Non-institutional investors (NII) | 5,07,000 | 15.04% | 15% |
| Qualified institutional buyers (QIB) | 16,83,000 | 49.91% | 50% |
| Market maker | 1,80,000 | — | — |
Source: Red Herring Prospectus dated 31 Aug 2026Updated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2025-26- EPS (basic)
- ₹11.99
- EPS (diluted)
- ₹11.99
- RoNW
- 47.98%
- NAV per share
- ₹24.99
- P/E (Industry average)
- 42.02×
Source: Red Herring Prospectus dated 31 Aug 2026Updated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2026FY 2025-26 | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 |
|---|---|---|---|
| Revenue from operations | 76.89 | 53.07 | 37.23 |
| Total income | 80.95 | — | — |
| EBITDA | 16.72 | 7.97 | 4.86 |
| Profit after tax | 11.87 | 4.90 | 2.84 |
| Net worth | 24.74 | 13.82 | 8.92 |
FY 2025-26 vs FY 2024-25: revenue +44.9%, profit after tax +142.3%.
Source: Red Herring Prospectus dated 31 Aug 2026Updated
About the company
The company designs, engineers, manufactures and exports performance and technical garments, mainly for government, institutional and brand clients abroad. Its main manufacturing facility is in Tiruppur, Tamil Nadu, and most revenue comes from exports, largely to Switzerland.
- Incorporated
- 2006
- Industry
- Apparel Manufacturing
- CIN
- U17299MH2006PLC164026
- Website
- qualiance.com
Source: Red Herring Prospectus dated 31 Aug 2026Updated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Vipul Badani | 51.00% | 37.53% |
| Krupa Rajesh Badani | 23.83% | 17.54% |
| Bhoomin R Badani | 3.05% | 3.31% |
Source: Red Herring Prospectus dated 31 Aug 2026Updated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Capital expenditure for a new manufacturing facility at Tiruppur, Tamil Nadu | 38.00 |
| General corporate purposes | Set with price |
Source: Red Herring Prospectus dated 31 Aug 2026Updated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Gokaldas Exports Limited | ₹13.71 | 60.84× | 4.63% | ₹294.95 |
| S P Apparels Limited | ₹40.22 | 23.21× | 10.67% | ₹376.36 |
| Qualiance International LimitedIssuer | ₹11.99 | — | 47.98% | ₹24.99 |
Source: Red Herring Prospectus dated 31 Aug 2026Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- In-house manufacturing with quality control in Tiruppur.
- Strong export presence, particularly with Swiss government and institutional clients.
- Multiple international quality and compliance certifications.
- Experienced promoters with long industry track record.
- Revenue grew across the three years shown.
Risks
- Heavy dependence on woven garments for product revenue.
- High reliance on a few customers, with the top customer at about 57% of sales in FY 2025-26.
- Most revenue from exports, exposing the company to trade barriers and currency swings.
- The new Tiruppur facility may face delays or cost overruns.
- Outstanding litigation involving the company, directors and promoters.
Source: Red Herring Prospectus dated 31 Aug 2026Updated
Contacts
Source: Red Herring Prospectus dated 31 Aug 2026Updated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Demat credit
- Listing
Source: Red Herring Prospectus dated 31 Aug 2026Updated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on NSE Emerge.
Frequently asked questions
When does the Qualiance International IPO open and close?
According to the Red Herring Prospectus, the issue opens on Friday, 4 September 2026 and closes on Tuesday, 8 September 2026. These dates are tentative.
What is the Qualiance International IPO price band?
The Red Herring Prospectus does not include a price band. The company announces it by advertisement before the issue opens, and this page is updated when it is filed.
Where will Qualiance International shares list?
On NSE Emerge. The tentative listing date is Friday, 11 September 2026.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the Qualiance International IPO allotment status?
The basis of allotment is expected to be finalised on Thursday, 10 September 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited). Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹38 Cr for capital expenditure for a new manufacturing facility at Tiruppur, Tamil Nadu, and the rest for the other stated purposes.
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Spotted something wrong?
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