Riyaasat Lifestyle Ltd IPO
Readymade Garments/ Apparells
Price Band
₹100 – ₹106
Lot Size
1200
Minimum Bid Quantity
2400
Minimum Investment
₹254400
Issue Size
₹30.77Cr
Opens
2026-06-18
Closes
2026-06-25
Listing
01-07-2026
Subscription Status
Qualified Institutional Buyers
20.33 x
Non-Institutional Investor
0.21 x
Retail Individual Investor
0.44 x
Total
1.3 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE0KYI01012
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Riyaasat Lifestyle Limited is engaged in the design, manufacturing, trading, and retail sale of Indian ethnic wear for men, women, and children. The company offers a range of ethnic, fusion, and Indo-Western apparel, including sherwanis, kurta sets, jodhpuris, koti sets, sarees, lehengas, gowns, suits, and other traditional wear products. It also provides customisation options for garment size, design, style, and embroidery based on customer requirements. The company sells its products through a network of exclusive brand outlets, distributors, key accounts, online marketplaces, and its own website. As of January 31, 2026, it operated six exclusive brand outlets across Ahmedabad, Vadodara, and Mumbai. Riyaasat Lifestyle sources fabrics and other materials from suppliers located across Gujarat, Uttar Pradesh, Maharashtra, and Karnataka, while its workshop facility is equipped with automated and semi-automated machinery for garment production and customisation.
Pros
- • The company offers customisation beyond standard size alterations, allowing customers to modify garment styles, designs, and embroidery based on their preferences. It also provides coordinated outfits for entire families, including children, which differentiates it from many ethnic wear retailers that primarily offer standardised collections.
- • Riyaasat Lifestyle operates through a combination of manufacturing, trading, and retailing activities. The company generated manufacturing revenue of Rs 7.13 crore and trading revenue of Rs 20.74 crore during the 10 months ended January 31, 2026, giving it a diversified operating model within the ethnic wear segment.
- • As of January 31, 2026, the company operated six exclusive brand outlets across Ahmedabad, Vadodara, and Mumbai. Its retail footprint includes a company-owned showroom in Santacruz, Mumbai, alongside multiple leased outlets in key commercial locations in Gujarat.
Cons
- • The company’s revenue is significantly dependent on a few product categories. Its top four products are lehenga choli, sherwani, Indo-Western wear, and kurta sets, which contributed Rs 16.77 crore (60.18%), Rs 16.67 crore (67.18%), Rs 14.69 crore (64.20%), and Rs 13.27 crore (63.39%) of revenue from operations in the period ended January 31, 2026, and FY25, FY24, and FY23, respectively. Should the demand for these products decline, fashion trends change, or consumer preferences shift, it could adversely affect the company’s business, financial condition, and results of operations.
- • The company relies on third-party job workers for key manufacturing activities such as cutting, embroidery, stitching, and finishing of garments. Job work expenses amounted to Rs 2.53 crore (11.01% of total expenses), Rs 2.06 crore (10.66%), Rs 2.22 crore (12.15%), and Rs 0.26 crore (1.36%) in the period ended January 31, 2026, and FY25, FY24, and FY23, respectively. If the company is unable to retain these workers, engage additional workers during periods of high demand, or maintain consistent production quality and efficiency, it could adversely affect the company’s operations and financial performance.
- • The company depends on third-party suppliers and vendors for sourcing raw materials and carrying out various production-related activities. Its top 10 suppliers accounted for purchases worth Rs 6.15 crore (28.32%), Rs 4.45 crore (37.23%), Rs 5.10 crore (32.90%), and Rs 7.70 crore (50.68%) in the period ended January 31, 2026, and FY25, FY24, and FY23, respectively. Any failure to maintain relationships with these suppliers, disruptions in supply, deterioration in product quality, or increases in procurement costs could adversely affect the company’s operations, profit margins, and financial condition.
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