Qualiance International's ₹45.11 crore SME IPO opened for subscription on September 4, 2026, with strong investor interest already visible in the grey market. The issue will remain open for three days and close on September 8, 2026, with shares expected to debut on the NSE SME platform on September 11, 2026. According to The Economic Times, the grey market premium (GMP currently indicates a 43% premium over the issue price, suggesting potentially strong listing performance for investors if the grey-market trend holds. The current GMP stands at ₹55 per share, translating to an estimated listing price of ₹182 per share based on the premium over the upper issue price of ₹127.
The IPO comprises an entirely fresh issue of 35.52 lakh equity shares, with no offer-for-sale component. The company has fixed the price band at ₹120–127 per share with a lot size of 1,000 shares. As reported by The Economic Times, at the upper end of the price band, retail investors need a minimum investment of ₹2.54 lakh for 2,000 shares (equivalent to two lots), while high-net-worth individuals require ₹3.81 lakh for 3,000 shares (three lots). Hem Securities Ltd. serves as the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar.
The company demonstrated exceptional financial growth in FY26, with revenue rising 47% to ₹80.95 crore compared to ₹55.06 crore in FY25. According to The Economic Times, this substantial improvement in revenue was driven by higher demand across international markets. The company's profit after tax (PAT) surged 142% to ₹11.87 crore from ₹4.90 crore in the previous year, reflecting a substantial improvement in profitability. The company's export-focused business contributed 98.82% of revenue from operations in Fiscal 2026, serving customers across Europe and North America including government, institutional and brand clients.
Qualiance International operates a manufacturing facility in Tiruppur, Tamil Nadu, with an installed capacity of 450,000 garment pieces per annum. As reported by The Economic Times, the facility supports various manufacturing activities including 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 and holds multiple international 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.
The company plans to utilize the net proceeds primarily to fund capital expenditure for setting up a new manufacturing facility in Tiruppur, Tamil Nadu, with approximately ₹38 crore earmarked for the proposed facility. According to The Economic Times, any balance remaining from the net proceeds will be deployed towards general corporate purposes, in accordance with applicable laws and regulations. As of June 30, 2026, the company employed 255 payroll employees across its manufacturing facility and office operations, supported by contractual labour based on production requirements. The grey market premium serves as an unofficial indicator of market sentiment and does not guarantee actual listing price, as it can change based on demand and market conditions.
