Riyaasat Lifestyle IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 20.33x |
| NII | 0.09x |
| Retail (RII) | 0.44x |
| Total | 1.32x |
Bidding day 8 · final figures at close of bidding: 15 Jul 2026, 12:00 am IST
IPO Details
- Open Date
- 18 Jun 2026
- Close Date
- 25 Jun 2026
- Listing Date
- 1 Jul 2026
- Face Value
- ₹10
- Fresh Issue
- ₹28.65 Cr
- OFS
- ₹0 Cr
- Listing On
- BSE
- Registrar
- —
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,54,400 |
| HNI (Min) | 3 | 3,600 | ₹3,81,600 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| QIB (ex-anchor) | 1,36,800 | 5.06% |
| NII | 9,64,800 | 35.7% |
| — sNII (< ₹10L) | 3,21,600 | 11.9% |
| — bNII (> ₹10L) | 6,43,200 | 23.8% |
| Retail | 16,00,800 | 59.24% |
| Total | 27,02,400 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2023 | 20.94 | 1.32 | 1.7 | 2.15 | 8.79 | 1.02 | — |
| FY 2024 | 23.34 | 4.08 | 5.14 | 6.23 | 17.75 | 4.74 | — |
| FY 2025 | 25.19 | 4.87 | 6.25 | 13.1 | 33.91 | 8.87 | — |
| Jan 2026 (interim) | 28.13 | 4.29 | 7.28 | 17.39 | 76.15 | 38.97 | 6.16 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March. Interim periods cover part of a year and are not comparable to the full-year rows.
KPIs & Valuation
- P/E (pre-issue)
- 17.2x
- P/E (post-issue)
- 22.12x
- RoNW
- 24.67%
- RoE
- 28.15%
- RoCE
- 17.34%
- Debt / Equity
- 2.24
- EPS (pre-issue)
- ₹6.16
- EPS (post-issue)
- ₹4.79
- EBITDA Margin
- 26.13%
- PAT Margin
- 15.4%
- P/BV
- 6.39x
- NAV / share
- ₹22.03
- Market Cap
- ₹113.89 Cr
As of 31 Jan 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Capital expenditure towards setting up of 4 new Stores (Showrooms) | ₹12.47 Cr |
| Working Capital Requirements | ₹9.5 Cr |
| General Corporate Purposes | ₹4.03 Cr |
| Issue Expenses | ₹4.2 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Book Running Lead Manager fees | ₹0.25 Cr |
| Underwriting Fees | ₹0.6 Cr |
| Fees Payable to Registrar to a the Issue | ₹0.05 Cr |
| Fees Payable for Advertising and Publishing Expense | ₹0.09 Cr |
| Fees Payable to Regulators including Stock Exchanges | ₹0.06 Cr |
| Payment for Printing & Stationery, Postage, etc | ₹0.05 Cr |
| Fees Payable to Monitoring Agency, Market Maker, Auditor, Legal Advisors and other Professionals | ₹0.3 Cr |
| Others, if any (Fees payable for Marketing & Promotion expenses, Selling Commission, Brokerage, depositories, secretarial, Sponsor Bank, Stamp duty,, and Miscellaneous Expenses) | ₹2.8 Cr |
Promoters & Shareholding
Promoters: Gaurang Ramanbhai Galiya, Ramanbhai Nanubhai Galiya and Sobhanaben R Galiya
- Holding (pre-issue)
- 99.87%
- Holding (post-issue)
- 73.4%
- Dilution
- 26.47%
Documents
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW |
|---|---|---|---|---|
| Riyaasat Lifestyle | — | 8.11 | — | 65.52% |
| Bizotic Commercial Ltd | — | 68.1 | 26.46x | 5.63% |
| Vedant Fashions Limited | — | 65.77 | 45.36x | 25.96% |
Peer group as disclosed in the offer document, figures as of 28 Mar 2024. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the Riyaasat Lifestyle IPO
The Riyaasat Lifestyle SME IPO opens for subscription on 18 Jun 2026 and closes on 25 Jun 2026, offered at a price band of ₹100–106 per share, and is set to list on BSE. In total, the issue aims to mobilise ₹30.2 crore. Retail investors bid in lots of 1200 shares, a minimum application of ₹2,54,400.
Issue structure
The IPO is structured entirely as a fresh issue of ₹28.65 crore, so the full proceeds flow to the company to fund its stated objects of the issue.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward capital expenditure towards setting up of 4 new stores (showrooms) (₹12.47 crore), alongside working capital requirements (₹9.5 crore). In all, 4 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Riyaasat Lifestyle reported revenue of ₹28.13 crore and a net profit of ₹4.29 crore. Revenue grew from ₹20.94 crore in FY2023 to ₹28.13 crore in FY2026 (+34.0%). Net worth stood at ₹17.39 crore at the end of FY2026. At the upper band, that puts the issue at roughly 17.2× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 22.12× post-issue earnings and 6.39× book value, against a return on net worth of 24.67% and a debt-to-equity ratio of 2.24. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Bizotic Commercial Ltd and Vedant Fashions Limited, with a median peer P/E of about 35.9×. The issue's own post-issue P/E works out to 22.12×.
Promoters
The promoters of the company are Gaurang Ramanbhai Galiya, Ramanbhai Nanubhai Galiya and Sobhanaben R Galiya. Promoter holding stands at 99.87% before the issue and comes down to 73.4% after listing.
Grey market premium (GMP)
In the unofficial grey market, Riyaasat Lifestyle shares are quoted at a premium of ₹0 implying an expected listing around ₹106, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Riyaasat Lifestyle IPO was subscribed 1.32 times overall. The strongest demand came from qualified institutional buyers (QIB) at 20.33 times, with non-institutional investors (NII) at 0.09× and retail investors at 0.44×.
Listing performance
Riyaasat Lifestyle listed on 1 Jul 2026 at ₹84.8, a discount of -20.0% over the issue price of ₹106.
What to weigh
When evaluating the Riyaasat Lifestyle IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Riyaasat Lifestyle
Incorporated in October 2021, Riyaasat Lifestyle Limited offers ethnic wear for Men and Women. The brand offers a collection of Kurta, Payjama, Sherwani, Jodhpuri, Lehanga, Gown, each designed to embody fun and fashion. Every piece is made with fine materials for comfort and durability. The company launched its first EBO in Ahmedabad on October 23, 2021. EBOS boost brand visibility and deliver a consistent, personalized shopping experience, aligning with its vision and business goals. As of March 31, 2025, the company operates 5 EBOs in Gujarat, with stores ranging from 1,790 to 9419 sq. ft., reflecting its brand ethos and providing a premium retail experience. The company sells its products through its website, www.riyaasat.in and through online marketplaces including Pernia’s Pop-up. Competitive Strength: Customization enables customers to personalize their clothing to suit their preferences. Timeless Tradition, Ever-Evolving Style. Quality Style at an Affordable Price. Inspiring and Seamless Shopping Experience. Prominent Reputation for Exquisite Men's Ethnic Wear. Strategic Locations and Well-Equipped Workshop. Commitment to Quality.
Riyaasat Lifestyle — Contact Details
- Registered office
- 01/GF, 'Time Square', B/S.'Pariseema, C.G.Road, Ahmedabad, Gujarat, 380009
- Phone
- +918866115025
- cs@riyaasat.in
- Website
- riyaasat.in/
- Registrar (IPO queries)
- ipo@skylinerta.com
Frequently asked questions
- What is the Riyaasat Lifestyle IPO price band?
- The Riyaasat Lifestyle IPO price band is ₹100 to ₹106 per share, with a lot size of 1200 shares.
- What was the Riyaasat Lifestyle IPO GMP before listing?
- The final grey market premium recorded before the Riyaasat Lifestyle IPO listed was ₹0. The IPO listed on 1 Jul 2026 at ₹84.8, -20.0% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Riyaasat Lifestyle IPO open and close?
- The Riyaasat Lifestyle IPO opens on 18 Jun 2026 and closes on 25 Jun 2026.
- When is the Riyaasat Lifestyle IPO allotment and listing date?
- Allotment is expected on 29 Jun 2026. The shares are scheduled to list on 1 Jul 2026 on BSE.
- How many times was the Riyaasat Lifestyle IPO subscribed?
- The Riyaasat Lifestyle IPO was subscribed 1.32 times in total across all investor categories.
- What is the reservation split in the Riyaasat Lifestyle IPO?
- Of the total shares offered, retail investors get 59.24%, QIBs 5.06%, non-institutional investors 35.7%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Riyaasat Lifestyle and what is their holding?
- The promoters are Gaurang Ramanbhai Galiya, Ramanbhai Nanubhai Galiya and Sobhanaben R Galiya. Promoter holding is 99.87% before the issue and 73.4% after listing.
- What is the P/E ratio of the Riyaasat Lifestyle IPO?
- At the upper price band, the Riyaasat Lifestyle IPO is valued at 17.2× pre-issue earnings and 22.12× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Riyaasat Lifestyle IPO?
- The net proceeds go primarily toward capital expenditure towards setting up of 4 new stores (showrooms), among 4 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Riyaasat Lifestyle IPO?
- The book-running lead manager is Mark Corporate Advisors Pvt.Ltd..
- Is Riyaasat Lifestyle a Mainboard or SME IPO?
- Riyaasat Lifestyle is an SME IPO, listing on BSE (SME platform).