Qualiance International Limited IPO — Subscription & GMP

upcomingMainboardNSENSE: QUALIANCE
Grey market premium
+₹25
1 source · 13 min ago
Est. listing gain
+19.69%
implies ₹152 on listing
Subscribed
bidding not open yet
Min. investment
₹1,27,000
1000 shares × ₹127
Price band
₹120 – ₹127
Lot size
1000
Issue size
₹45.11 Cr
Bidding
04 Sept 2026 → 08 Sept 2026
Allotment
Listing

Schedule

  1. 04 Sept 2026IPO open date
  2. 08 Sept 2026IPO close date
  3. 09 Sept 2026Allotment date
  4. 09 Sept 2026Funds unblock or debit
  5. 11 Sept 2026Tentative listing date

† Derived from the close date using the T+3 working-day timeline. The exchanges publish the open and close dates; the rest are indicative until confirmed, and exchange holidays are not accounted for.

Fundamentals

The business, its valuation and returns

Business Model Summary: Qualiance International Limited

Overview Qualiance International Limited operates as an export-focused specialized manufacturer and engineering solutions provider specializing in technical, performance, and institutional garments. The company sits at the intersection of textile science and industrial engineering, catering heavily to government entities, defense agencies, and international lifestyle/performance brands.

Key Pillars of the Business Model

1. Specialized Technical Manufacturing & Engineering - Focuses on high-end, value-added engineered garments rather than standard mass-market apparel. - Operates a purpose-built, advanced manufacturing facility in Tiruppur, Tamil Nadu, equipped for sophisticated garment construction. - Employs advanced in-house processes such as seam sealing, sew-free bonded assembly, laser cutting and perforation, ultrasonic welding, down filling, quilting, and thermal transfer & lamination.

2. B2B Institutional and Government Contracting - Major emphasis on fulfilling specialized government tenders and institutional requirements (e.g., supplying defense, police, postal, railway, and security departments). - Long-standing relationships with institutional clients, such as multi-decade supply arrangements with departments under the Swiss Confederation (e.g., Armasuisse, SBB, AMZ, EZV).

3. Global B2B Brand Supply Partnerships - Supplies technical activewear, high-visibility clothing, and cold-weather clothing systems to prominent international brands and retailers. - Core product categories cover technical outerwear, tactical garments, high-visibility workwear, performance activewear, and specialized extreme-environment apparel (rated for sub-zero temperatures down to -40°C).

4. Export-Dominated Revenue Model - Highly export-oriented operations with the vast majority of revenue derived from international markets, predominantly led by European nations like Switzerland, alongside the UK and the USA.

Customer Base - Government and institutional agencies (Defense procurement, national railways, police and security departments) - Global technical apparel and performance activewear brands - Specialized safety, workwear, and tactical equipment distributors

We do not yet hold parsed fundamentals for this issue. Ratios are published in the RHP and the basis-of-issue-price advertisement.

Official source: Basis of Issue Price / ratios filing (NSE) — carries P/E, RoNW and EPS pre and post issue as filed.

GMP is unofficial. Grey Market Premium is quoted by private dealers outside the exchange mechanism and is not recognised or regulated by SEBI. Figures vary by source, can change within minutes, and frequently diverge from actual listing prices. UpcomingIPO publishes GMP as market information only — this is not investment advice and not a recommendation to apply for any issue.

Grey market premium

Unofficial · not from any exchange

Upper band ₹127 + GMP ₹25 implies a listing around ₹152 (+19.69%). That is what the grey market is pricing, not a forecast.

Subscription status

Awaiting first fetch from exchange
Overall subscribed
not yet published
No bids recorded yet. The exchanges publish subscription figures only once bidding opens.

Source: NSE issue information

Allotment status

Allotment status is not out yet. The registrar is MUFG Intime India Private Limited.

Issue details

Price band
₹120 – ₹127
Lot size
1000 shares
Min. bid quantity
Face value
₹10.00
Tick size
₹1.00
Shares offered
35.52 L
Issue size
₹45.11 Cr
Max bid · QIB
Max bid · NII

Timeline & process

Bidding opens
04 Sept 2026
Bidding closes
08 Sept 2026
Bidding hours
10.00 a.m. to 5.00 p.m. (Bidding Timings on Issue Closure upto 4:00 P.M.)
UPI mandate cutoff
08-Sep-2026 (upto 5:00 PM) The cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability to participate in IPOs by successfully accepting the mandate.
Allotment
Listing

Intermediaries

Registrar
MUFG Intime India Private Limited
Sponsor bank
Kotak Mahindra Bank Limited
Lead managers
Hem Securities Limited