Upcoming Issue
₹45.11 Cr
Opens
04 Sep 2026
- Price Band
- ₹120 – ₹127
- Lot Size
- TBA
- Lot Value
- TBA
- Open Date
- 04 Sep 2026
- Close Date
- 08 Sep 2026
IPO Timeline
Issue Opens
04 Sep 2026 · Fri
Issue Closes
08 Sep 2026 · Tue
Bidding Cut-off (UPI Mandate)
08 Sep 2026 · 5:00 PM IST
Allotment
TBA
Listing
11 Sep 2026 · Fri
About Qualiance International
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: NSE SME
Strengths (6)
- •In-house manufacturing with quality control and ISO certifications
- •Strong international market presence across Switzerland, USA, and UK
- •20+ years expertise in high-performance technical garment manufacturing
- •Experienced management team with 30+ years industry background
- •Advanced manufacturing capabilities including seam sealing and laser cutting
- •Long-term relationships with premium international outdoor and performance brands
Risk Factors (6)
- •Significant revenue dependence on woven garments (61.70% of sales); decline in demand could adversely affect operations.
- •Political, economic factors beyond control may adversely affect domestic, regional, global business and market conditions.
- •Russia-Ukraine, Israel-Hamas, Iran-Israel conflicts may negatively impact global economy and business operations.
- •Changing laws, regulations, tax policies including capital gains tax amendments may affect business and investor returns.
- •Price volatility and market surveillance measures (GSM/ASM) may restrict trading and disrupt active market development.
- •Inability to anticipate technological changes or adapt to evolving consumer preferences may adversely impact business prospects.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
ANALYSIS PENDINGRating will be available once IPO opens for subscription.
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
IPO Details
| Registrar | — |
| Exchange | NSE SME |
| ISIN | — |
| Face Value | — |
| Issue Size | ₹45.11 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Hem Securities Limited |
Company Fundamentals
9 sections extracted from this filingCapital Structure
| Authorised Capital | ₹200.00 Cr |
| Issued Capital | ₹99.00 Cr |
| Paid-up Capital | ₹99.00 Cr |
| Equity Shares (Pre-Issue) | 99,00,000 |
| Equity Shares (Post-Issue) | — |
| Preference Shares | 0 |
| ESOP Outstanding | 0 |
Source: Qualiance International offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
- Vipul Badani(Promoter)+51.00%
- Krupa Rajesh Badani(Promoter)+26.50%
- Rajesh Jagmohandas Badani(Promoter)+4.50%
- Pratiksha Vipul Badani(Promoter)+4.50%
- Bhoomin R Badani(Promoter)+4.50%
- Dhriti Drolia(Promoter)+4.50%
- Sneha Bhoomin Badani(Promoter)+4.50%
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Qualiance International's filing.
Source: Qualiance International offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
No offer-for-sale component (or sellers not disclosed).
Source: Qualiance International offer document (DRHP/RHP).
Board & Management
Board of Directors (4)
- Vipul Badani₹0.24 Cr p.a.
Chairman & Managing Director
Diploma in Knitting Technology
Over 30 years
- Bhoomin R Badani₹0.12 Cr p.a.
Whole Time Director & Chief Executive Officer
Bachelor of Laws (L.L.B) and Bachelor of Management Studies (B.M.S)
15 years
- Krupa Rajesh Badani
Non-Executive Director
- Dharini Jatania
Independent Director
Key Managerial Personnel (3)
- Pradeep Devanand Prajapati₹0.00 Cr p.a.
Company Secretary and Compliance Officer
Qualified Company Secretary
6.5 years
- Saira Tabrez Khan₹0.05 Cr p.a.
Chief Financial Officer
Master of Commerce
4.5 years
- Meena Santosh Petkar₹0.09 Cr p.a.
Senior Management Personnel (GM)
Higher Secondary Certificate
20 years
Source: Qualiance International offer document (DRHP/RHP).
Industry & Market
Industry & market data not disclosed in this filing.Market-size/industry detail was not extracted from Qualiance International's filing.
Use of IPO Proceeds
Total allocation: ₹1270.95 Cr (excludes issue expenses)
Promoters
Vipul Badani
Chairman & Managing Director & Promoter · age 61
Over 30 years of experience in the Textile and Apparel Export Industry.
Pre-issue: 51%
Krupa Rajesh Badani
Non-Executive Director & Promoter · age 67
29 years of experience in the Textile and Apparel Export Industry.
Pre-issue: 26.5%
Bhoomin R Badani
Whole Time Director, Chief Executive Officer & Promoter · age 40
15 years of experience in the Textile and Apparel Export Industry.
Pre-issue: 4.5%
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Qualiance International Limited | — | 4.95 | 35.44 | 13.96 |
| Gokaldas Exports Limited | 27.1 | 22.36 | 9.4 | 281.46 |
| S P Apparels Limited | 18.87 | 37.9 | 11.11 | 341.27 |
Material Litigation
The Company has 9 outstanding tax proceedings (1 direct tax case for ₹0.15 lakhs and 8 indirect tax cases for ₹212.90 lakhs), totaling ₹213.05 lakhs in dispute. The Promoters/Directors have 2 outstanding direct tax proceedings involving ₹20.75 lakhs.
Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
3-Year Financial Summary
Revenue trend
↑ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 53.07 | 4.9 | 4.95 | — | 35.44% |
| FY24 | 37.23 | 2.84 | — | — | — |
| FY23 | 35.45 | 1.58 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| EBITDA | 2.98 | 4.86 | 7.97 |
| Net Worth | -2.32 | 8.92 | 13.82 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
25.7x
Price ÷ EPS
EPS (FY25)
₹5
Earnings per share
RoNW
35.44%
Return on net worth
ROCE
21.16%
as reported in filing
EBITDA margin
15.0%
EBITDA ÷ revenue
Price/NAV
9.10x
Price ÷ NAV (as reported)
GMP Trend
GMP data will appear a few days before the IPO opens.
Subscription Status
Subscription data will appear once bidding begins.
Recently Listed IPOs
| Company | Listed | Listing Gain |
|---|---|---|
| Dhanwel Hybrid Seeds Limited | 26 Aug 2026 | +0.00% |
| Mopshop Distribution | 26 Aug 2026 | -0.72% |
| Fascinate Textiles | 24 Aug 2026 | -20.00% |
Related IPOs
Documents
Frequently Asked Questions
When is the Qualiance International IPO opening?
The Qualiance International IPO opens on 04 Sep 2026 and closes on 08 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Qualiance International IPO?
The price band for the Qualiance International IPO is ₹120 to ₹127. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Qualiance International IPO?
The minimum lot size is TBA shares with a minimum investment of not yet announced. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Qualiance International IPO today?
Grey Market Premium data for Qualiance International is not available yet. It typically starts appearing a few days before the IPO opens.
When will the Qualiance International IPO list on NSE and BSE?
The Qualiance International IPO is expected to list on 11 Sep 2026 on NSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Qualiance International IPO allotment status?
You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Qualiance International IPO a mainboard or SME issue?
Qualiance International is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the Qualiance International IPO?
You can apply for the Qualiance International IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
Should I subscribe to Qualiance International IPO?
Based on our algorithmic analysis, Qualiance International IPO is rated UNRATED with low confidence. Rating will be available once subscription and GMP data is collected. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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