RK Fashion Accessories Launches Rs 35-Crore SME IPO in Rs 77-82 Price Band

Kolkata-based imitation jewellery and cosmetics player R.K. Fashion Accessories Limited opened its initial public offering (IPO) for public subscription on Monday, October 5, 2026. The issue, which is scheduled to close on Wednesday, October 7, 2026, marks the only fresh IPO opening across Indian stock exchanges this week following a heavily congested primary market run in September.

The company is offering its shares in a fixed price band of Rs 77 to Rs 82 per equity share with a face value of Rs 10 each.

Issue Structure and Investment Size

The IPO is an entirely fresh issue of up to 42,67,200 equity shares, looking to raise between Rs 32.86 crore and Rs 34.99 crore. The shares are proposed to list on the NSE Emerge platform, the dedicated SME segment of the National Stock Exchange.

The key structural aspects of the issue include:

• Price Band: Rs 77 to Rs 82 per equity share.
• Issue Size: Up to 42,67,200 equity shares aggregating up to Rs 34.99 crore.
• Market Lot: 1,600 shares per lot.
• Minimum Application: Retail investors are required to apply for a minimum of two lots (3,200 shares), entailing an upfront investment of Rs 2,62,400 at the upper end of the price band.
• Lead Manager: Affinity Global Capital Market Private Limited is serving as the lead manager.

Business Model and Fund Utilisation

Established in 2010, R.K. Fashion Accessories operates in the imitation jewellery and personal care sectors. The company manufactures and distributes imitation jewellery through a contract manufacturing framework, blending traditional Indian craftsmanship with modern fashion styles, while also trading branded cosmetic products. It retails and distributes goods across wholesale B2B channels, retail outlets, and online platforms.

The net proceeds from the fresh issue will be channelled into expanding capacity and driving operational scale:

• Setting up a new plating facility at Baruipur in Kolkata, West Bengal.
• Establishing a new B2B showroom in Kolkata.
• Funding the completion of company-owned B2C retail stores and procuring inventory for new outlets.
• Financing general corporate requirements and working capital needs.

Financial Track Record

The company's draft and red herring prospectus highlight robust financial momentum over recent fiscal years:

• FY24: Revenue from operations stood at Rs 14.46 crore, generating a Profit After Tax (PAT) of Rs 0.95 crore.
• FY25: Revenue increased to Rs 17.82 crore, with PAT rising to Rs 2.00 crore.
• FY26: Top line expanded significantly to Rs 31.54 crore, while PAT rose more than threefold to Rs 6.29 crore.

Primary Market Backdrop

The offering arrives as the primary market enters a temporary breather for fresh capital deployment. Domestic companies raised roughly Rs 39,000 crore via IPOs in September, marking one of the busiest months of the year. While secondary market debut activity remains elevated with nearly 29 companies scheduled to list during the week across mainboard and SME segments, R.K. Fashion Accessories represents the sole fresh bidding window available to domestic equity investors in this cycle.

Tags: RK Fashion Accessories IPO NSE Emerge SME IPO Primary Market SEBI