Qualiance International IPO opens on 4-8 Sept and is a SME issue among the upcoming Indian IPOs. The company aims to raise ₹45 Cr via this future IPO in India with a price range of ₹120 to ₹127 per share.
Qualiance International IPO Analysis
Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.
Minimum retail investment
₹1,27,000
1000 shares at the upper band of ₹127
Fresh issue share
95.6%
₹43 Cr of the ₹45 Cr issue
Revenue growth
+47%
31 Mar 2025 → 31 Mar 2026
Profit growth
+142.2%
PAT ₹4.9 Cr → ₹11.87 Cr
Net profit margin
14.7%
was 8.9% in 31 Mar 2025
Debt to equity
1.15
lower is safer
Return on equity
61.56%
ROE
Peer listing record
5 of 13 listed above issue price
median listing move -5%
GMP-implied listing gain
+39.4%
₹50 premium on a ₹127 issue price
Promoter holding
86.49% → 63.66%
diluted by 22.8 percentage points
A retail application for Qualiance International needs one lot of 1000 shares, which works out to ₹1,27,000 at the upper band of ₹127. That is close to the ₹15,000 ceiling SEBI expects for a single retail lot, so an investor applying at cut-off is committing nearly the full retail limit per application.
The issue splits into ₹43 Cr of fresh capital (95.6%) and ₹null Cr as an offer for sale. The company keeps the fresh portion for the objects of the issue, while the rest is existing shareholders monetising their stake.
Revenue moved from ₹55.06 Cr in 31 Mar 2025 to ₹80.95 Cr in 31 Mar 2026 (+47%), while profit after tax went from ₹4.9 Cr to ₹11.87 Cr (+142.2%). Profit grew faster than revenue, which points to operating leverage or a better cost mix rather than growth bought purely through volume.
Recently listed companies in the same space trade at a median price-to-earnings ratio of about 13.4. Comparing that with the multiple implied by this issue's ₹120–₹127 band is a more useful test of pricing than looking at the grey market premium alone.
A grey market premium of ₹50 on the upper band of ₹127 implies a listing gain of roughly 39.4%. The grey market is unofficial and unregulated, the premium can change daily, and it has no bearing on allotment — treat it as a sentiment reading, not a forecast.
What looks good
- Profit is growing faster than revenue, suggesting improving operating efficiency.
- Return on equity of 61.56% is strong for the sector.
What to watch
- Debt to equity of 1.15 means the company carries more debt than equity.
- Only 5 of the last 13 comparable IPOs closed above their issue price on listing day.
This analysis is generated from the figures shown on this page and is for information only. It is not investment advice — read the RHP before you apply.
About Qualiance International
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. The Company follows quality and compliance standards applicable to international markets and holds certifications including ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO 14064-1:2018, SA 8000, GOTS and GRS, along with SEDEX SMETA audit compliance. The Company also holds the status of a Two Star Export House issued by the Government of India.
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.
Strong export-focused business model.
Widespread reach across international markets.
Qualified and experienced Promoters and management team.
Integrated expertise in high-performance technical garments.
Specialized manufacturing capabilities for performance apparel.
Multiple international quality, safety and sustainability certifications.
Skilled workforce supporting manufacturing and operational capabilities.
In-house manufacturing facility supported by a quality control mechanism.
Q1. What is Qualiance International IPO?
Qualiance International IPO is a SME issue among the new IPOs coming in India. The company will raise ₹45 Cr via this upcoming Indian IPO, priced at ₹120 to ₹127 per equity share.
Q2. When will Qualiance International IPO open for subscription?
This future IPO opens on 4-8 Sept. Stay updated with all IPOs to come this week and upcoming launches.
Q3. What is Qualiance International IPO Investors' Portion?
QIB: 50%, HNI: 14.27%, Retail: 33.28%
Q4. What is Qualiance International IPO Issue Size?
Total issue size is ₹45 Cr.
Q5. What is Qualiance International IPO Price Band?
The price band is ₹120 to ₹127 per equity share.
Q6. What is Qualiance International IPO Lot Size?
Minimum bid is 1,000 shares.
Q7. What is the Qualiance International IPO Allotment Date?
The allotment will be finalized on 9 Sep 2026.
Q8. What is the Qualiance International IPO Listing Date?
The IPO will list on 11 Sep 2026.
