R.K. Fashion Accessories Ltd

RKFAL R.K. Fashion Accessories Ltd

NSE IPO

Bidding dates05 Oct 2026 - 07 Oct 2026

Price range₹77 - ₹82

Min. investment₹2,62,400

Issue size34.99 Cr

Lot size1600 Shares

IPO DocRHP

IPO Timeline

Start date

05 Oct 2026

End date

07 Oct 2026

Allotment date

08 Oct 2026

Refund initiation

09 Oct 2026

Share credit

09 Oct 2026

Deactivate mandate

12 Oct 2026

About company

Incorporated in March 2010, R.K. Fashion Accessories Limited is engaged in the manufacturing through contract manufacturers and wholesale distribution of imitation jewellery, along with trading of branded cosmetics. The company offers traditional and contemporary jewellery products under brands such as “City Girl” and “Manikya”.

The company operates through B2B wholesale, e-commerce retailing, and corporate retail tie-ups while expanding its B2C presence in Kolkata. Its product portfolio includes bangles, earrings, necklaces, chains, rings, bracelets, mangalsutras, sets, and CZ/AD jewellery catering to wedding, festive, and daily wear segments.

R.K. Fashion Accessories follows a contract manufacturing model supported by skilled artisans and third-party manufacturers, primarily based in Kolkata. The company also operates around 120 shop-in-shop counters through corporate partnerships and processes over 10,000 online orders monthly across multiple e-commerce platforms.

For Fiscal 2026, the company reported revenue from operations of ?3,035.71 lakhs, with West Bengal contributing the majority of revenue. As of March 31, 2026, the company had 50 permanent employees.

Founded in 2010

Managing director Md Qasim

Parent organisation R.K.Fashion Accessories IPO

Invest in R.k. Fashion Accessories Ltd now!

Strengths and Risks

Strengths

R.K. Fashion Accessories operates across diversified sales channels, including B2B wholesale, corporate retail partnerships (handling around 120 shop-in-shop counters), and an online direct-to-consumer footprint under its "Manikya Jewellery" brand.

The business maintains a relatively clean balance sheet with low reported leverage (debt-to-equity ratio of approximately 0.11), giving it adequate financial flexibility to fund initial operations.

The entire IPO structure consists of a fresh issue of shares (approx. ?34.99 crore), with proceeds directed toward scaling operations—including funding a new plating facility in Baruipur, a Kolkata B2B showroom, retail expansion, and working capital requirements.

Risks

The company relies heavily on independent contract manufacturers and job workers for its production and raw material processing. This leaves it vulnerable to supply chain bottlenecks, labour disputes, equipment failures, and a lack of direct control over production quality.

The manufacturing of artificial and gold-plated jewellery requires underlying raw materials like copper and gold. Fluctuations in these metal prices can directly squeeze operating margins if cost increases cannot be passed onto customers.

As an NSE SME-listed issue with a higher minimum investment lot size (1,600 shares), trading liquidity can be thin, creating potential hurdles for quick exits. Furthermore, the company's future performance heavily depends on how efficiently it can execute its proposed capital expansion projects without margin dilution.