Ethnic wear company Riyaasat Lifestyle will launch its initial public offer at a price of ₹102-108 per share on June 18 to raise around ₹31 crore. According to reports from The Hindu BusinessLine, Business Remedies, and goodreturns.in, the IPO will open for public subscription on June 18 and close on June 22, 2026, on the BSE SME platform. The company will issue 28,48,800 equity shares of face value ₹10 each through the book-built issue process, with a market lot size of 1,200 shares requiring retail investors to apply for 2 lots. The IPO is being managed by the lead manager company Mark Corporate Advisors Pvt Ltd and Skyline Financial Services Pvt Ltd is the registrar to the issue. As per goodreturns.in, the company will be listed on June 25, 2026. The IPO constitutes 26.51% of the post-IPO paid-up capital of the company, with the company spending ₹4.20 crore for the IPO process. The GMP (Grey Market Premium) of the IPO stands at +0 according to Investorgain.
Ahmedabad-based Riyaasat Lifestyle Limited, incorporated in October 2021, is engaged in the sale of ethnic wear for men and women. As reported by Business Remedies, the company offers a comprehensive collection of kurtas, pyjamas, sherwanis, Jodhpuris, lehengas, and gowns under its brand, each designed as a symbol of celebration and fashion. The company launched its first EBO in Ahmedabad on October 23, 2021, and currently operates 6 EBOs across Gujarat and Maharashtra, with store sizes ranging from 1,790 to 9,419 square feet. These stores reflect the company's brand ethos and offer a premium retail experience. The company sources products from premium weavers across 6 states and carries out finishing at its Mumbai-based workshop, selling products through its website www.riyaasat.in and online marketplaces including Pernia's Pop-up. The company plans to establish 4 new stores in Mumbai, Surat, Hyderabad, and Bengaluru to expand its retail footprint. As of January 31, 2026, the company had approximately 177 employees on its payroll. The promoters of the company are Gaurang Ramanbhai Galiya, Ramanbhai Nanubhai Galiya and Sobhanaben R Galiya.
According to reports from Business Remedies and goodreturns.in, Riyaasat Lifestyle has demonstrated consistent growth in its financial performance. In financial year 2023, the company reported operating revenue of ₹20.93 crore and profit after tax of ₹1.32 crore. The company's performance improved significantly in FY 2024 with operating revenue of ₹22.88 crore and profit after tax of ₹4.08 crore. In financial year 2025, the company reported operating revenue of ₹24.80 crore and profit after tax of ₹4.87 crore. For the period ended January 31, 2026, in FY 2026, the company earned operating revenue of ₹27.87 crore and profit after tax of ₹4.29 crore, achieving a profit after tax margin of approximately 15.40 percent. The company's earnings per share (EPS) has shown remarkable growth from ₹17.62 in FY 2023 to ₹61.60 in FY 2026, reflecting the company's strong operational performance. For the last three fiscals, the company has reported an average EPS of ₹5.17 and an average Return on Net Worth (RoNW) of 50.66 percent.
As per The Economic Times, the company has outlined specific use of proceeds for its IPO funds. ₹12.47 crore (56.76% of estimated amount) will be allocated towards capital expenditure for setting up 4 new showrooms (showrooms), while ₹9.50 crore (43.24%) will be utilized for working capital requirements to support expansion. The remaining funds will be used for general corporate purposes. The IPO allocation follows standard SME platform norms with retail individual investors receiving the largest portion at 56.19% (16,00,800 shares), followed by non-institutional investors at 33.87% (9,64,800 shares), qualified institutional buyers at 4.8% (1,36,800 shares), and market makers at 5.14% (1,46,400 shares). The minimum investment requirement is ₹2,59,200 with a minimum lot size of 1,200 shares. Post-IPO, the company's current paid-up equity capital of ₹7.90 crore will stand enhanced to ₹10.74 crore. Based on the upper band of the IPO pricing, the company is looking for a market cap of ₹116.04 crore. The allotment of the IPO is likely to be finalised on June 23, 2026. The company's shares will be listed on the BSE SME platform.
Gaurang Ramanbhai Galiya, Managing Director of Riyaasat Lifestyle, emphasized the company's focus on building a distinctive presence in the ethnic and celebration wear segment through contemporary designs, superior quality, and enriching customer experience. As reported by The Hindu BusinessLine, he stated that the brand has been built on deep understanding of evolving consumer preferences and commitment to delivering aspirational fashion across markets. The proceeds will support expansion plans, strengthen working capital position, and enhance operational efficiency. Balveer Singh Choudhary, Director of Mark Corporate Advisors, highlighted the company's positioning to capitalize on increasing consumer preference for branded ethnic apparel and continued growth of India's fashion retail market. The proposed IPO will support growth ambitions, strengthen operational capabilities, and enhance market presence.
