Qualiance International IPO
Qualiance International LtdSME
This IPO opens on 4 Sep 2026.
- Open date
- 4 Sep 2026
- Close date
- 8 Sep 2026
- Min. Investment
- ₹2,54,000
- Lot Size
- -
- Fresh Issue
- ₹45.11 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers0.00x
- Non-Institutional Investors0.00x
- Retail-Individual Investors0.00x
- Total0.00x
Schedule
- Current step: IPO open date4 Sep 2026
- Upcoming: IPO close date8 Sep 2026
- Upcoming: Allotment date9 Sep 2026
- Upcoming: Funds unblock or debit10 Sep 2026
- Upcoming: Tentative listing date11 Sep 2026
About
Promoter shareholding in Qualiance International Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Vipul Badani | 50,49,000 | 51.00% | 50,49,000 | 37.53% |
| Bhoomin R Badani | 3,01,500 | 3.05% | 3,01,500 | 2.24% |
| Krupa Rajesh Badani | 23,59,241 | 23.83% | 23,59,241 | 17.54% |
| Pratiksha Vipul Badani | 1,30,500 | 1.32% | 1,30,500 | 0.97% |
| Rajesh Jagmohadas Badani | 61,759 | 0.62% | 61,759 | 0.46% |
| Dhriti Drolia | 4,45,500 | 4.50% | 4,45,500 | 3.31% |
| Sneha Bhoomin Badani | 2,15,500 | 2.18% | 2,15,500 | 1.60% |
Qualiance International IPO Strengths & Risks
- In-house manufacturing facility with quality control mechanism.
- Widespread reach in international markets.
- Integrated expertise in high performance technical garments.
- Qualified and Experienced Management Team.
- Risks Relating to the Business: We derive a significant portion of our revenue from the sale of woven garments. Any decline in the sales of our key product could have an adverse effect on our business, results of operations and financial condition.
- Risks Relating to the Business: We depend on a limited number of customers for our revenue from operations. Any failure to maintain relationships with such customers could adversely affect our revenue and financial condition.
- Risks Relating to the Business: We derive a majority portion of our revenues from exports and are subject to risk of international trade.
- Risks Relating to the Business: Our proposed expansion plans w.r.t. our new manufacturing facility being set up are subject to the risk of unanticipated delays in implementation and cost overruns.
- Risks Relating to the Business: We are subject to risks resulting from foreign exchange rate fluctuations, which could adversely affect our results of operations.
- Risks Relating to the Business: There are outstanding legal proceedings involving our Company, our Directors and our Promoters. Any adverse decisions could impact our cash flows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on our business, prospects, results of operations and financial condition.
- Risks Relating to the Business: We depend on a limited number of suppliers for raw materials. Any interruption in the availability of raw materials could adversely impact our operations. Further, any failure by our suppliers to provide raw materials to us on time or at all, or as per our specifications and quality standards could have an adverse impact on our ability to meet our manufacturing and delivery schedules.
- Risks Relating to the Business: We have had negative cash flows from operating, investing and financing activities in the past. Any negative cash flow in the future may affect our liquidity and financial condition.
- Risks Relating to the Business: There are certain discrepancies/errors noticed in some of our corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 1956/ 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate and other law could impact the reputation and financial position of the Company to that extent.
- Risks Relating to the Business: We are subject to competition from both organized and unorganized players in the market, which may significantly affect the fixation and realization of the price for our product, which may adversely affect our business operation and financial condition.
- Risks Relating to the Business: Our Company is yet to place orders for the Plant & Machinery for the setup of new manufacturing facility. Any delay in placing orders or procurement of such machinery may delay the schedule of implementation and possibly increase the cost of commencing operations.
- Risks Relating to the Business: We require certain approvals, licenses, registrations and permits to operate our business, and failure to obtain or renew them in a timely manner or maintain the statutory and regulatory permits and approvals required to operate our business may adversely affect our operations and financial conditions.
- Risks Relating to the Business: Changes in technology may render our current technologies obsolete or require us to undertake substantial capital investments, which could adversely affect our results of operations.
- Risks Relating to the Business: Adverse publicity regarding our products could negatively impact us.
- Risks Relating to the Business: Our Company's logo and word trademark is not registered as on the Red Herring Prospectus. We may be unable to protect our intellectual property against third party infringement or are found to infringe on the intellectual property rights of others, it could have a material adverse effect on our business, result of operations, and financial conditions.
- Risks Relating to the Business: We are dependent on our Promoters, our senior management and other key personnel, and the loss of, or our inability to attract or retain, such persons could affect our business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The Objects of the Issue for which funds are being raised, are based on our management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at our discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue"
- Risks Relating to the Business: We have in the past entered into related party transactions and may continue to do so in the future.
- Risks Relating to the Business: We have incurred indebtedness which exposes us to various risks which may have an effect on our business and results of operations.
- Risks Relating to the Business: Information relating to capacity utilization of our manufacturing facilities included in this Red Herring Prospectus is based on various assumptions and estimates. Under-utilization of capacity of our manufacturing facilities and an inability to effectively utilize our manufacturing facilities may have an adverse effect on our business and future financial performance.
- Risks Relating to the Business: Our Contingent Liability and Commitments could affect our financial position.
- Risks Relating to the Business: An increase in raw material costs or other input costs or loss of any of our suppliers due to delayed payments or otherwise, resulting in shortfall in the supply of our raw material may adversely impact the pricing and supply of our products and have an adverse effect on our business.
- Risks Relating to the Business: Inventories and trade receivables form a major part of our current assets. Failure to manage our inventory and trade receivables could have an adverse effect on our sales, profitability, cash flow and liquidity.
- Risks Relating to the Business: There are certain delays noticed in some statutory filings with EPFO, ESIC, GST and other statutory authorities. Any Penalty or demand raised by statutory authorities in future may adversely affect our financial position of the Company.
- Risks Relating to the Business: Our manufacturing activities require deployment of labour and depend on availability of labour. In case of unavailability of such labour, our business operations could be affected.
- Risks Relating to the Business: Our Promoter and Promoter Group members & Group Company has provided personal guarantees for loans availed by our Company. Our business, financial condition, results of operations and cash flows may be adversely affected by the invocation of all or any personal guarantees provided by our Promoter and Promoter Group members and Group Company.
- Risks Relating to the Business: Our insurance coverage may or may not be adequate to protect us against certain operating hazards and this may have a material adverse effect on our business.
- Risks Relating to the Business: Our business is dependent on our manufacturing facilities and we are subject to certain risks in our manufacturing process. Obsolescence, destruction, theft, breakdowns of our major plants or machineries or failures to repair or maintain the same may affect our business, cash flows, financial condition and results of operations.
- Risks Relating to the Business: Compliance with labour law, labour shortage, strikes, work stoppages or increased wage demands by our employees or any other kind of disputes with our employees could adversely affect our business and results of operations.
- Risks Relating to the Business: Our Group Company had incurred losses and had negative net worth in past and any operating losses in the future could adversely affect the results of operations and financial conditions of our group company.
- Risks Relating to the Business: We could be adversely affected by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect our financial condition, results of operations and reputation.
- Risks Relating to the Business: Fraud, theft, employee negligence or similar incidents may adversely affect our results of operations and financial condition.
- Risks Relating to the Business: Compliance with, and changes in, safety, health and environmental laws and labour regulations may adversely affect our business, prospects, financial condition and results of operations.
- Risks Relating to the Business: Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of our Company.
- Risks Relating to the Business: If we are unable to manage our growth effectively or if our estimates or assumptions used in developing our strategic plan are inaccurate or we are unable to execute our strategic plan effectively, our business and prospects may be materially and adversely affected.
- Risks Relating to the Business: Our actual results could differ from the estimates and projections used to prepare our financial statements.
- Risks Relating to the Business: In addition to normal remuneration, other benefits and reimbursement of expenses some of our Directors (Promoters) are interested in our Company to the extent of their shareholding and dividend entitlement.
- Risks Relating to the Business: Dependence upon transportation services for supply and transportation of our products are subject to various uncertainties and risks, and delays in delivery may result in rejection of products by customer
- Risks Relating to the Business: Absence of order book.
- Risks Relating to the Business: Risk relating to sustainability of increase in PAT margin.
- Risks Relating to the Business: Liquidity Risk and Dependence on Market Maker Continuity on the NSE SME Platform.
- Risks Relating to the Business: We may not be successful in implementing our business strategies.
- Risks Relating to the Business: We have not identified any alternate source of funding and hence any failure or delay on our part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
- Risks Relating to the Business: We are subject to restrictive convents under our credit facilities that limit our operational flexibility.
- Risks Relating to the Business: Our lenders have charge over assets in respect of finance availed by us.
- Risks Relating to the Business: There is no monitoring agency appointed by Our Company to monitor the utilization of the Issue proceeds.
- Risks Relating to the Business: None of our Directors have prior experience serving on the board of a listed company, which may affect our ability to efficiently discharge certain responsibilities as a listed entity.
- Risks Relating to the Business: The requirements of being a public listed company may strain our resources and impose additional requirements.
- Risks Relating to the Business: We are subject to the risk of failure of, or a material weakness in, our internal control systems. If the company are unable to establish and maintain an effective system of internal controls and compliances business and reputation could be adversely affected.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by our Promoter, are lower than the face value of Equity Share.
- Risks Relating to the Business: The Objects of the Issue for which funds are being raised have not been appraised by any bank or financial institution. Any variation between the estimation and actual expenditure as estimated by the management could result in execution delays or influence our profitability adversely.
- Risks Relating to the Business: Our ability to pay dividends in the future will depend upon our future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in our financing arrangements.
- Risks Relating to the Business: Any future issuance of Equity Shares, or convertible securities or other equity linked securities by us and any sale of Equity Shares by our significant shareholders may dilute your shareholding and adversely affect the trading price of the Equity Shares
- Risks Relating to the Business: Our Promoter and Promoter Group will jointly continue to retain majority shareholding in our Company after this Issue which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- Risks Relating to the Business: Industry information included in this Red Herring Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
- Risks Relating to the Business: The Issue Price of our Equity Shares may not be indicative of the market price of our Equity Shares after the Issue and the market price of our Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
- Risks Relating to the Business: There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of NSE in a timely manner or at all.
- Risks Relating to the Business: Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- Risks Relating to the Business: Significant differences exist between Ind AS and other accounting principles, such as Indian GAAP, IFRS and U.S. GAAP, which may be material to investors' assessments of our financial condition, result of operations and cash flows.
- Risks Relating to the Business: Any of the Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- Risks Relating to the Business: We may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect trading price of our Equity Shares.
