R.K. Fashion Accessories Shares List at ₹80 on NSE SME at 2.44% Discount

R.K. Fashion Accessories shares made their stock market debut on October 12, 2026, listing at ₹80 per share on NSE SME compared with the IPO issue price of ₹82 per share. This represented a listing discount of 2.44%.
Following the listing, the stock traded at ₹76 as of 11:14 AM IST, taking its decline from the ₹82 issue price to 7.32%. The stock recorded an intraday high of ₹80 and a low of ₹76 during the morning session.

The listing followed the company's IPO, which was open from October 5 to October 7, 2026. The ₹34.99 crore issue consisted entirely of a fresh issue of 42.67 lakh equity shares, with a price band of ₹77 to ₹82 per share.
R.K. Fashion Accessories manufactures imitation jewellery through contract manufacturers and is engaged in wholesale distribution of fashion jewellery and trading of branded cosmetics. The company operates in the fashion accessories and personal care segments, with its business primarily concentrated in eastern India.

R.K. Fashion Accessories IPO Listing Details

The IPO was a ₹34.99 crore book-built issue consisting entirely of a fresh issue of 42,67,200 equity shares. There was no offer-for-sale component.

The issue received an overall subscription of 2.70 times. QIBs subscribed 14.11 times, Individual Investors 3.11 times and NIIs 1.77 times. The public issue received bids for 1,09,32,800 shares against 40,52,800 shares available for subscription, excluding the market maker portion.

- Issue Price: ₹82 per share
- NSE SME Listing Price: ₹80 per share
- Listing Discount: 2.44%
- Trading Price: ₹76 per share (11:14 AM IST)
- Change From Issue Price: -7.32%
- Intraday High: ₹80
- Intraday Low: ₹76
- Overall Subscription: 2.70 times
- Fresh Issue: ₹34.99 crore
- Offer for Sale: Nil
- Price Band: ₹77 to ₹82 per share
- IPO Open Date: October 5, 2026
- IPO Close Date: October 7, 2026
- Listing Date: October 12, 2026
- Exchange: NSE SME

First-Day Trading Performance

Listing Price: R.K. Fashion Accessories share price listed at ₹80 compared with the ₹82 issue price, translating into a discount of 2.44%.

Post-listing Price: The stock subsequently traded at ₹76 as of 11:14 AM IST, 7.32% below the issue price and 5.00% below the listing price. The stock touched an intraday high of ₹80 and a low of ₹76 during the session.

Subscription Context: The IPO received 2.70 times overall subscription, with QIBs leading at 14.11 times, followed by Individual Investors at 3.11 times and NIIs at 1.77 times.

Growth Drivers and Challenges

Growth Drivers

Diversified Product Portfolio: The company operates in imitation jewellery, fashion accessories and branded cosmetics, covering multiple consumer product categories.

Multi-channel Distribution: R.K. Fashion Accessories operates through wholesale, B2B and B2C distribution channels, providing access to different customer segments.

Planned Manufacturing Expansion: The company intends to establish a new plating facility in Baruipur, Kolkata, which would expand its in-house processing capabilities and reduce dependence on external service providers for plating activities.

Retail and Showroom Expansion: The company plans to establish a new B2B showroom and complete B2C stores in Kolkata, expanding its physical distribution infrastructure.

Financial Performance: For FY26, the company reported total income of ₹31.54 crore and profit after tax of ₹6.29 crore, compared with total income of ₹17.82 crore and profit after tax of ₹2.00 crore in FY25.

Challenges

Third-party Manufacturing Dependence: The company relies on contract manufacturers for its jewellery production. Disruptions at these manufacturing partners could affect product availability, quality and delivery schedules.

Geographical Concentration: A significant portion of the company's revenue comes from eastern India, making its operations sensitive to changes in regional consumer demand and market conditions.

Inventory Management: The fashion jewellery business is influenced by changing consumer preferences and product trends. Slow-moving inventory or changes in demand could affect working capital requirements and profitability.

Raw Material Price Exposure: Fluctuations in the prices of materials such as copper and gold may affect sourcing costs and margins.

Expansion Execution Risks: The proposed plating facility, B2B showroom and B2C stores involve capital expenditure and execution requirements. Delays in completing these projects could affect the company's planned expansion.

Utilisation of IPO Proceeds

The ₹34.99 crore IPO consisted entirely of a fresh issue of equity shares.
The company intends to utilise the proceeds towards:
- ₹5.21 crore towards meeting working capital requirements.
- ₹8.80 crore towards establishing a new plating facility at Baruipur, Kolkata, West Bengal.
- ₹5.37 crore towards establishing a proposed new B2B showroom in Kolkata.
- ₹2.48 crore towards completing interiors and furnishings of proposed B2C stores in Kolkata.
- ₹5.60 crore towards funding inventory costs for the proposed new showroom and stores.
- General corporate purposes.

The five specified allocations amount to ₹27.46 crore. The balance of the IPO proceeds is subject to the company's disclosed general corporate purposes and issue-related expenses.

Business and IPO Overview

R.K. Fashion Accessories Limited is a Kolkata-based company engaged in the manufacturing and wholesale distribution of imitation jewellery and the trading of branded cosmetics.

The company operates primarily through a contract manufacturing model and distributes products across wholesale, B2B and B2C channels. Its planned expansion includes a new plating facility, a B2B showroom and additional B2C retail infrastructure in Kolkata.

The company reported FY26 total income of ₹31.54 crore and profit after tax of ₹6.29 crore, compared with ₹17.82 crore and ₹2.00 crore, respectively, in FY25.

Its ₹34.99 crore IPO consisted entirely of a fresh issue and received 2.70 times overall subscription. QIBs recorded the highest subscription at 14.11 times.

Shares listed at ₹80 on NSE SME against the ₹82 issue price, representing a discount of 2.44%, and subsequently traded at ₹76 as of 11:14 AM IST on October 12, 2026.