Valuation
Market Cap
₹127.24 Cr
P/E Ratio
14.67x
P/B Ratio
5.71x
RK Fashion Accessories IPO Dates
Conflicting IPOs
IPOs with overlapping timeline
Business Overview
R.K. Fashion Accessories Limited is a Kolkata-based company, incorporated in 2010, that sells imitation fashion jewellery made by contract manufacturers and also trades in branded cosmetics. Its jewellery is sold under the City Girl brand (24-carat gold-plated wedding and daily-wear pieces) and the Manikya brand (cubic zirconia/American diamond). Revenue is mostly B2B (95.16% in FY26), through distributors, dealers, retailers, about 120 shop-in-shop counters in national retail chains and e-commerce channels. West Bengal gives about 66% of revenue and Eastern India about 86%. FY26 revenue from operations was ₹30.36 crore and PAT ₹6.29 crore.
Lots & IPO Size
RK Fashion Accessories IPO Lot Size
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Ind (Min) | 2 | 3,200 | ₹2,62,400 |
| Ind (Max) | 2 | 3,200 | ₹2,62,400 |
| S-HNI (Min) | 3 | 4,800 | ₹3,93,600 |
| S-HNI (Max) | 7 | 11,200 | ₹9,18,400 |
| B-HNI (Min) | 8 | 12,800 | ₹10,49,600 |
RK Fashion Accessories IPO Size
Objects of the Issue
Funding incremental working capital requirements
Setting up a new plating facility at Baruipur, Kolkata, West Bengal
New B2B showroom in Ezra Street and completion of B2C store in Rash Behari Avenue, Kolkata
Inventory for the proposed new showroom and stores
General Corporate Purposes
Total
Key Risk Factors
The company earns most of its revenue in Eastern India (Bihar, Jharkhand, Odisha, West Bengal): 76.04% to 91.71% across FY24 to Jun-26, with West Bengal alone at 61% to 66%.
Key Risk Factors
The company earns most of its revenue in Eastern India (Bihar, Jharkhand, Odisha, West Bengal): 76.04% to 91.71% across FY24 to Jun-26, with West Bengal alone at 61% to 66%.
The company depends on key customers; its top 10 customers gave 19.17%, 15.15%, 20.24% and 21.61% of sales in Jun-26, FY26, FY25 and FY24, so losing any could hurt revenue.
The company relies on independent contract manufacturers (karigars) with short, non-exclusive agreements and no non-compete; the top 10 supplied 35.46% of FY26 purchases.
The company's operations need heavy working capital, which rose from ₹(77.01) lakh in FY24 to ₹974.81 lakh at June 2026; failing to fund it could hurt growth and results.
The company had negative operating cash flow of ₹(67.78) lakh in FY26 and ₹(35.39) lakh in the Jun-26 stub, with investing outflows too; sustained outflows may need outside funding.
The company depends on a few raw material suppliers; its top 10 suppliers were 61.72% of purchases in the Jun-26 stub, so supply gaps or price rises could hurt margins.
The company's wholesale model (82.53% of FY26 revenue) exposes it to credit risk if retail partners delay or default on payments, straining cash flow and liquidity.
The business is manpower and machine intensive and uses third-party contract labour; strikes, work stoppages or wage hikes could disrupt operations and raise costs.
The company's costs are exposed to volatile gold and copper prices, which may not be fully passed on to customers, pressuring margins and inventory valuation.
The company plans to use IPO funds to buy a showroom property but has only an MOU with the seller and no definitive agreement, risking delays, higher costs or changed plans.
RK Fashion Accessories IPO Live Subscription
Updated as on 05-Oct-2026 17:00:05 hrs
| Category | Sub (x) | Offered | Bids | Amount(Cr) |
|---|---|---|---|---|
| QIB | 14.11x | 43,200 | 6,09,600 | 5.00 |
| NII | 0.62x | 16,06,400 | 9,93,600 | 8.15 |
| bHNI | 0.93x | 10,70,933 | 9,93,600 | 8.15 |
| sHNI | 0.00x | 5,35,467 | 0 | - |
| Individual | 0.01x | 24,03,200 | 28,800 | 0.24 |
| Total | 0.40x | 40,52,800 | 16,32,000 | 13.38 |
Subscription figures exclude Anchor investor and Market Maker portions. Data is sourced from NSE and BSE on an "AS IS" and "AS AVAILABLE" basis without any warranty
Updated as on 05-Oct-2026 17:00:05 hrs
RK Fashion Accessories IPO Details Live GMP
| Date | GMP (₹) | Est. Price |
|---|---|---|
| 05 Oct | ₹6 (7.3%) | ₹88 |
RK Fashion Accessories IPO Peer Comparison
(Rs. in crores)
| Particulars | RK Fashion | Banaras Beads |
|---|---|---|
| Revenue | 30.36 | 25.49 |
| PAT | 6.29 | 1.77 |
| EPS (₹) | 5.59 | 2.69 |
| NAV (₹) | 14.37 | 87.38 |
| RONW | 38.90% | 3.08% |
| EBITDA | 28.06% | 17.45% |
| PAT Mrgn | 20.71% | 6.96% |
| PE Ratio | 14.67 | 44.31 |
| Debt to Equity | 0.11 | 0.36 |
RK Fashion Accessories IPO Financial Performance
(Rs. in crores)
| Particulars | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Revenue | 7.49 | 30.36 | 17.77 | 13.28 |
| Profit | 1.83 | 6.29 | 2.00 | 0.95 |
| Net Worth | 17.99 | 16.16 | 9.81 | 7.82 |
| Borrowings | 3.06 | 1.70 | 0.61 | 0.61 |
| Assets | 28.32 | 23.88 | 16.88 | 11.70 |
| NAV (₹) | 15.99 | 14.37 | 148.82 | 118.54 |
| EPS (₹) | 1.63 | 5.59 | 1.78 | 0.84 |
Key Performance Indicators (KPIs)
Debt to Equity
0.11
All the data pertains to FY 2025-26. PE, PB, and market capitalization are calculated based on the Upper Price Band.
RK Fashion Accessories IPO Financial Statements
(Rs. in crores)
| Particulars | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Revenue from Ops | 7.49 | 30.36 | 17.77 | 13.28 |
| Other Income | 0.00 | 1.18 | 0.05 | 1.17 |
| Total Income | 7.49 | 31.54 | 17.82 | 14.46 |
| Cost of Revenue | 4.21 | 20.28 | 14.97 | 10.45 |
| Changes in Inventories | -1.47 | -3.45 | -2.29 | 0.28 |
| Employee Expense | 0.45 | 1.01 | 0.46 | 0.62 |
| Finance Costs | 0.00 | 0.01 | 0.00 | 0.00 |
| Depreciation | 0.08 | 0.22 | 0.23 | 0.26 |
| Other Expenses | 1.74 | 5.18 | 1.65 | 1.82 |
| Total Expenses | 5.02 | 23.24 | 15.02 | 13.43 |
| Profit Before Tax | 2.48 | 8.30 | 2.80 | 1.02 |
| Tax Expense | 0.65 | 2.01 | 0.80 | 0.08 |
| Profit After Tax | 1.83 | 6.29 | 2.00 | 0.95 |
| EPS — Basic (₹) | 1.63 | 5.59 | 1.78 | 0.84 |
| EPS — Diluted (₹) | 1.63 | 5.59 | 1.78 | 0.84 |
| Particulars | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| Equity Share Capital | 11.25 | 11.25 | 0.66 | 0.66 |
| Reserves & Surplus | 6.74 | 4.91 | 9.16 | 7.16 |
| Total Equity | 17.99 | 16.16 | 9.81 | 7.82 |
| Total Borrowings | 3.06 | 1.70 | 0.61 | 0.61 |
| Trade Payables | 4.17 | 3.88 | 5.03 | 1.88 |
| Other Current Liabilities | 2.29 | 1.77 | 1.22 | 1.24 |
| Other Liabilities | 0.80 | 0.36 | 0.20 | 0.16 |
| Total Equity & Liab | 28.32 | 23.88 | 16.88 | 11.70 |
| Fixed Assets | 4.50 | 4.53 | 4.39 | 4.61 |
| Non-Current Investments | 6.70 | 5.86 | 0.34 | 0.29 |
| Inventories | 9.56 | 7.83 | 5.09 | 1.09 |
| Short-Term Loans & Adv | 1.52 | 2.00 | 1.03 | 0.78 |
| Trade Receivables | 5.68 | 3.42 | 1.56 | 0.49 |
| Cash & Bank Bal | 0.25 | 0.13 | 0.14 | 0.34 |
| Other Assets | 0.12 | 0.12 | 4.33 | 4.11 |
| Total Assets | 28.32 | 23.88 | 16.88 | 11.70 |
| Particulars | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| CF from Operating Activities | -0.35 | -0.68 | 0.03 | -0.26 |
| CF from Investing Activities | -0.89 | -0.49 | -0.23 | -2.15 |
| CF from Financing Activities | 1.36 | 1.15 | 0.00 | 1.46 |
| Net Change in Cash & Equivalents | 0.12 | -0.01 | -0.20 | -0.95 |
| Cash & Equivalents at End of Period | 0.25 | 0.13 | 0.14 | 0.34 |
Promoter Holding
Promoter
99.67%
Public
0.33%
Management
MD Qasim
Age: 70
MD
Remuneration
₹₹3.00 Lakh p.a. (ceiling ₹5.00 Lakh p.a. incl. perquisites); paid ₹1.80 Lakh in FY26
Education
Class 12 (Mohammed Jan High School)
Prior Experience
Over 12 years in business; Director since 2014. Handles raw material procurement, supplier relations, quality control and new design selection.
Mohammed Usman
Age: 42
CEO
Remuneration
₹₹9.60 Lakh p.a. (ceiling ₹12.00 Lakh p.a. incl. perquisites); paid ₹9.80 Lakh in FY26
Education
B.Com (University of Calcutta)
Prior Experience
Started as a salesman in 2003 and set up a Kolkata jewellery retail business; moved into manufacturing in 2015 by taking over the company. Runs overall operations and strategy.
Mohammed Imran
Age: 35
WTD
Remuneration
₹₹1.80 Lakh p.a. (ceiling ₹3.00 Lakh p.a. incl. perquisites)
Education
B.Com (University of Calcutta)
Prior Experience
9 years in the jewellery trade; with the company since Oct 2025. Manages customer relationships and product delivery.
Md. Khurshid Alam
Age: 49
CFO
Remuneration
₹Not disclosed in the RHP
Education
B.Com (IGNOU)
Prior Experience
With the company since 2011 as Senior Accountant; appointed CFO in Feb 2026.
Registrar & Lead Managers
Registrar
Cameo Corporate Services
Lead Managers (1)
Company Details
Name: R.K. Fashion Accessories Limited
Address: Room No. A-201, 2nd Floor, Bagree Market 71, B. R. B. Basu Road, Kolkata - 700001, West Bengal, India
Number: +91 8282052929
Email: cs@citygirljewellery.com
Website: https://www.citygirljewellery.co.in
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How to apply RK Fashion Accessories IPO in Zerodha?
- Go to Kite App → Tap on Bids → Tap on IPO
- Select the IPO → Tap on apply → Enter UPI ID
- Enter Qty and Price
- Submit the application
- Approve the UPI Mandate on your UPI app
How to apply RK Fashion Accessories IPO in Groww?
- Go to Groww App → Stocks Section → Select IPO option
- Select the IPO you want to apply
- Enter your bid details and price
- Enter UPI ID & submit
- Approve the UPI Mandate on your UPI app
How to apply RK Fashion Accessories IPO using ASBA?
- Log in to your bank's net banking portal.
- Navigate to the 'IPO' or 'ASBA' section.
- Select RK Fashion Accessories IPO from the list of available IPOs.
- Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
- Submit the application.
- Money will remain blocked till the refund date
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