Qualiance International came to market through an SME IPO that opened on 4 September 2026 and closed on 8 September 2026, and the shares listed on 11 September 2026 on NSE SME. The price band was ₹120 to ₹127 per share and one lot was 1000 shares, so the minimum application was ₹1,27,000. The issue size was ₹45.11 crore. The whole issue was fresh shares, so the money raised went to the company.
It listed at ₹224.9, a gain of 77.1% against the issue price of ₹127. MUFG Intime India Pvt.Ltd was the registrar to the issue, and Hem Securities Ltd was the lead manager.
As of 8 September 2026.
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Overall the issue was subscribed 459.29 times.
Qualiance International Limited manufactures performance clothing for its government, institutional, and corporate customers in foreign markets. Their products include military uniforms, tactical wear, high-visibility uniforms, all-weather jackets, police uniforms, border patrol uniforms, protective uniforms and activewear. It runs a manufacturing facility in Tiruppur, Tamil Nadu which covers a built-up area of more than 45,000 square feet on a land area of about 1,046.31 square meters with the capacity to produce 450,000 pieces per year.
The company has produced garments in compliance with the requirements and specifications of European military, government and institutional clients.
As described in the offer document.
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Qualiance International Limited finalised its anchor investor allocation on September 3, 2026, raising ₹12.81 crore from 6 institutional investors at an anchor price of ₹127 per share, including a share premium of ₹117. The anchor book comprises 10,09,000 equity shares allocated across non-mutual fund institutional investors. Bharat Venture Opportunities Fund, Carnelian AIF Category I Trust – Scheme 1, and Hem Growth Opportunities Fund each received the largest allocation at 25.47%.
Finavenue Capital Trust – Finavenue Growth Fund received 7.93%, while 360 ONE LVF Treasury Solutions Fund and Tattvam AIF Trust – Aanjay Ageless AIF Fund each received 7.83%.
Vipul Badani, Bhoomin R Badani, Krupa Rajesh Badani. Promoter holding 100% before the issue and 73.60% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Qualiance International IPO was a ₹45.11 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹120–₹127 per share with a lot size of 1,000 shares; the minimum retail application was 2,000 shares (₹2,54,000). The IPO was open from September 4 to September 8, 2026 and was subscribed 459.29x. Shares listed on NSE SME on September 11, 2026 at ₹224.90, a 77.1% premium to the issue price of ₹127. MUFG Intime India Pvt. Ltd.
is the registrar. Hem Securities Ltd. is the book running lead manager.
The price band of Qualiance International IPO is ₹120 to ₹127 per share.
The lot size of Qualiance International IPO is 1000 shares.
The minimum investment for Qualiance International IPO is approximately ₹2,54,000 based on the upper price band.
The allotment date of Qualiance International IPO is Sep 9, 2026.
No GMP quote could be verified as recorded before Qualiance International IPO listed. A grey-market observation of ₹74 per share was recorded on 11 Sep 2026, 5:30 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹224.9. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Qualiance International IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Qualiance International IPO allotment status on Rupix for quick and easy access.
₹120 to ₹127 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,27,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,27,000, for one lot of 1000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 4 September 2026 and closed on 8 September 2026.
The basis of allotment was published on 9 September 2026 by MUFG Intime India Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 11 September 2026 on NSE SME, opening at ₹224.9.
The issue size was ₹45.11 crore. The fresh issue was 35,52,000 shares (aggregating up to ₹45.11 crore).
It listed at ₹224.9 against an issue price of ₹127, a gain of 77.1 percent on listing day.