Qualiance International IPO: dates, price band, lot size and GMP
Qualiance International IPO listed on 11 Sep at ₹225 (NSE SME). Issue dates 4 – 8 Sep 2026, price band ₹127, lot 1,000 shares. The shares now trade on the exchange; any pre-IPO price on this site is historical.
Listing: Qualiance International listed on 11 Sep 2026 on NSE SME at ₹224.90, +₹97.90 (+77.1%) against the ₹127 upper band. Qualiance International IPO listing date, price and gain · Recently listed IPOs
Updated 17 Oct 2026, 22:10 IST. Unofficial grey-market figures, dated.
BuyUnlistedShares tracks 208 IPOs on its calendar; the Qualiance International IPO has a price band of ₹127, a lot of 1,000 shares and no grey-market premium reported yet as of 17 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 4 – 8 Sep 2026 |
| Price band | ₹127 |
| Lot size | 1,000 shares |
| Issue size | ₹45.11 Cr |
| Fresh issue | ₹42.82 Cr |
| Subscription | 459.22x |
| Registrar | MUFG Intime India Pvt.Ltd. |
| Lead managers | Hem Securities Ltd. |
| Status | Listed |
Timeline
- Issue opens: 4 Sep
- Issue closes: 8 Sep
- Allotment: 9 Sep
- Refunds: 10 Sep
- Demat credit: 10 Sep
- Listing: 11 Sep
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 299.6x |
| NII | 699.59x |
| sNII | 402.57x |
| bNII | 850.76x |
| Retail | 447.13x |
| Total | 459.22x |
Last updated 8 Sep 2026, 6:55 PM IST.
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE SME |
| Market cap at the upper band | ₹170.84 Cr |
| P/E (pre-issue) | 10.59x |
| P/E (post-issue) | 14.4x |
| Fresh issue (shares) | 33,72,000 |
| Total shares offered | 33,72,000 |
| Promoter holding pre-issue | 86.49% |
| Promoter holding post-issue | 63.66% |
| Promoters | Vipul Badani, Bhoomin R Badani, Krupa Rajesh Badani |
| Lead managers | Hem Securities Ltd. |
| Registrar phone | 022-49186000 |
| Registrar email | qualiance.smeipo@in.mpms.mufg.com |
| Company website | qualiance.com |
| Anchor bid date | 3 Sep 2026 |
| Anchor lock-in ends (50%) | 9 Oct 2026 |
| Anchor lock-in ends (remaining) | 8 Dec 2026 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 2,000 | ₹2,54,000 |
| Retail (maximum) | 2 | 2,000 | ₹2,54,000 |
| sNII (minimum) | 3 | 3,000 | ₹2,54,000 |
| bNII (minimum) | 3 | 3,000 | ₹10,16,000 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| Anchor Investor | 29.9% | 10,09,000 | |
| QIB | 20% | 6,74,000 | Not more than 50% of the Net Issue |
| NII (HNI) | 15% | 5,07,000 | Not less than 15% of the Net Issue |
| sNII | 5.1% | 1,71,000 | |
| bNII | 10% | 3,36,000 | |
| Retail | 35.1% | 11,82,000 | Not less than 35% of the Net Issue |
| Market Maker | 5.3% | 1,80,000 |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 4 Sep | 4.10x | 13.80x | 13.78x | 13.82x | 19.29x | 13.78x |
| Day 2 · 7 Sep | 5.75x | 135.70x | 91.38x | 158.26x | 120.73x | 91.14x |
| Day 3 · 8 Sep | 299.60x | 699.59x | 402.57x | 850.76x | 447.13x | 459.22x |
Key ratios as of 31 Mar 2025
| EPS (pre-issue) | ₹11.99 |
|---|---|
| EPS (post-issue) | ₹8.82 |
| P/E (pre-issue) | 10.59x |
| P/E (post-issue) | 14.4x |
| RoNW | 35.44% |
| RoCE | 21.16% |
| RoE | 43.07% |
| PAT margin | 9.23% |
| EBITDA margin | 15.02% |
| Price / book | 9.1x |
| NAV per share | ₹13.96 |
| Debt / equity | 2.15 |
| Market cap (upper band) | ₹170.84 Cr |
Financials (₹ Cr)
| Metric | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|
| Assets | 68.99 | 57.53 | 43.14 | +19.9% |
| Total Income | 80.95 | 55.06 | 38.14 | +47% |
| Profit After Tax | 11.87 | 4.9 | 2.84 | +142.2% |
| EBITDA | 16.72 | 7.97 | 4.86 | +109.8% |
| NET Worth | 24.74 | 13.82 | 8.92 | +79% |
| Reserves and Surplus | 24.75 | 14.54 | 10.41 | +70.2% |
| Total Borrowing | 28.5 | 29.71 | 19.17 | −4.1% |
About Qualiance International
Qualiance International Limited is engaged in the design, engineering, manufacture and export of performance garments for institutional, government and brand clients in international markets. The company 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 operate a manufacturing facility located in Tiruppur, Tamil Nadu with a total built up area of over 45,000 square feet over a land area of approximately 1,046.31 square meters and an installed capacity of 450,000 garment pieces per annum.
They have manufactured garments based on product specifications and compliance requirements of European military, government and institutional buyers.
Objects of the issue
- Funding the capital expenditure requirements of the company towards setting up a new manufacturing facility at Tiruppur- Tamil Nadu — ₹38 Cr
- General Corporate Purpose — ₹0.02 Cr
- Issue Expenses — ₹7.09 Cr
Net proceeds: ₹45.11 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | P/E (x) | RoNW (%) | Financial statements |
|---|---|---|---|---|---|
| Qualiance International Ltd. (issuer) | 11.99 | 11.99 | — | 47.98% | — |
| Gokaldas Exports Ltd | 13.71 | 13.11 | 60.84x | 4.63% | — |
| S.p. Apparels Ltd | 40.22 | 40.09 | 23.21x | 10.67% | — |
Notes : Source - All the financial informationS for listed industry peers are sourced from their audited financial results for the year ended March 31, 2026 as available on the stock exchange. Market Price for the listed peer mentioned above is sourced from stock exchange data dated August 21, 2026 to compute the corresponding financial ratios. For the Company, we have taken Current Market Price as the issue price of equity share. Further, P/E Ratio is based on the current market price of the respective scrips.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- Qualiance International IPO listing day: listed at ₹224.90 (+77.1% vs the upper band), 11 Sep 2026
- Qualiance International IPO GMP today and trend
- Qualiance International IPO subscription status, day by day
- Qualiance International IPO allotment status and how to check
Frequently asked questions
When does the Qualiance International IPO open and close?
The issue is scheduled for 4 – 8 Sep 2026.
What is the Qualiance International IPO price band?
The price band is ₹127 per share with a lot size of 1,000 shares.
How big is the Qualiance International IPO?
The total issue size is ₹45.11 Cr.
When will Qualiance International list?
The tentative listing date is 11 Sep on the SME platform.
How do I apply for the Qualiance International IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Qualiance International · as filed with SEBI · nsearchives.nseindia.com
- Red herring prospectus (RHP), Qualiance International · as filed · nsearchives.nseindia.com
- Registrar allotment page, MUFG Intime India Pvt.Ltd. · allotment 9 Sep · in.mpms.mufg.com
- NSE public issues page · listing 11 Sep · nseindia.com
- Qualiance International company website · qualiance.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 11 Sep, 04:04 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Qualiance International IPO”, https://buyunlistedshares.com/ipo/qualiance-international-ipo, as of 17 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. In the market since 2002. Data as of 17 Oct 2026.
Our notes on this IPO
- Read our review: Qualiance International IPO 2026: Business, Financials and Key Facts from the Offer Document
Guides for IPO applicants and pre-IPO holders
- The risks of buying unlisted and pre-IPO shares in India
- Unlisted Shares Lock-In Period: What Every Investor Must Know (2026)
- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
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