Qualiance International Ltd. IPO

UpcomingSME

Price Band

120 – ₹127

Issue Size

45.11 Cr

Issue Dates

4 Sept 8 Sept 2026

Listing Date

11 Sept 2026

About Qualiance International Ltd.

Incorporated in August 2006, Qualiance International Limited is engaged in the design, engineering, manufacture and export of performance and technical garments for institutional, government and brand clients in international markets. The Company originally commenced operations as a partnership firm, M/s. Qualiance Exports, in 1994 and was subsequently incorporated as Qualiance International Private Limited before being converted into a public limited company in December 2025. Its product portfolio includes military uniforms, tactical outerwear, high-visibility workwear, weather-resistant and all-weather outerwear, police and border patrol uniforms, protective workwear and performance activewear. The Company operates a manufacturing facility in Tiruppur, Tamil Nadu, with an installed capacity of 450,000 garment pieces per annum. The facility supports various manufacturing activities, including regular cut-and-sew operations and specialized processes such as seam sealing, bonded construction, ultrasonic welding, laser cutting and lamination. The Company manufactures both knitted and woven garments based on customer specifications, technical drawings, patterns and performance requirements. The Company primarily serves customers across Europe and North America, including government, institutional and brand clients. Its export-focused business contributed 98.82% of revenue from operations in Fiscal 2026. As of June 30, 2026, the Company had 255 payroll employees across its manufacturing facility and office operations, supported by contractual labour engaged based on production requirements.

IPO Details

Price Band₹120 – ₹127
Face Value₹10
Issue Size₹45.11 Cr
Fresh Issue₹45.11 Cr
Total Shares Offered35,52,000
Listed OnNSE

Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: (1) Funding the capital expenditure requirements of the Company towards setting up a new manufacturing facility at Tiruppur, Tamil Nadu - Rs. 38.00 Cr; (2) General Corporate Purpose (amount not disclosed). Total of specified objects: Rs. 38.00 Cr. The issue is entirely a fresh issue of 35,52,000 equity shares (including 1,80,000 shares reserved for the Market Maker, Hem Finlease Pvt.Ltd.), aggregating Rs. 45.11 Cr.

Key Financial Metrics

EPS (Basic)

11.99

P/E Ratio

10.59x

ROE

61.56%

ROCE

37.33%

Debt / Equity

1.15

Financial Performance

Particulars (₹ Cr)FY2024FY2025FY2026
Revenue
EBITDA4.867.9716.72
PAT2.844.911.87
Total Assets43.1457.5368.99
Net Worth8.9213.8224.74
Total Borrowings19.1729.7128.5

Valuation

Market Capitalisation

Pre-IPO₹126 Cr
Post-IPO₹170.84 Cr

P/E Ratio

Pre-IPO10.59x
Post-IPO14.4x

Promoter Holding

Pre-IPO86.49%
Post-IPO63.66%

Public Holding

Pre-IPO13.51%
Post-IPO36.34%

Lot Size & Allocation

Investment by Category

CategoryLot SizeMin InvestmentMax Investment
retail_min2 × 1000₹2,54,000
retail_max1000 shares₹2,54,000
shni_min3 × 1000₹3,81,000
shni_max1000 shares₹8,89,000
bhni_min8 × 1000₹10,16,000

Reservation / Allocation

CategoryAllocationCut-off
QIB Shares OfferedNo
NII (HNI) Shares Offered15.04%No
Retail Shares Offered35.05%Yes
Market Maker (Firm Reservation)5.07%No

Registrar & Lead Managers

Registrar

MUFG Intime India Pvt. Ltd.

Lead Managers (2)

Hem Securities Ltd.
Hem Finlease Pvt.Ltd.

Peer Comparison

CompanyListedMkt Cap (₹ Cr)EPS (₹)P/EROE %
Qualiance International Ltd. IPO (this IPO)170.84₹11.9910.59x61.56%
Madhur Knit Crafts Ltd.Yes12.15x
Fascinate Textiles Ltd.Yes10.33x
Shreedhar Spinners Ltd.Yes13.44x

Frequently Asked Questions

5 questions about Qualiance International Ltd. IPO IPO

Qualiance International IPO is an SME IPO of 35,52,000 equity shares of face value Rs. 10 aggregating up to Rs. 45.11 crores. The issue is priced in the band of Rs. 120 to Rs. 127 per share. The minimum order quantity is 1,000 shares.

Important Dates

Issue Opens4 Sept 2026
Issue Closes8 Sept 2026
Allotment9 Sept 2026
Refund Initiation10 Sept 2026
Demat Credit10 Sept 2026
Listing Date11 Sept 2026

Live GMP

Grey Market Premium50
GMP %39.37%
View GMP History

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