R.K. Fashion Accessories Limited

This section provides an overview of the industry and global economic outlook, including caveats regarding the reliability of the information provided. It discusses the resilience of the global economy to trade tensions and policy uncertainty, noting that supportive factors are fading. The text details projections for global growth, inflation, and the expected trajectory of monetary policy across various regions, such as the US, Euro area, and Japan.

The provided text discusses various macroeconomic forecasts, developments in the Indian economy, and trends within the global jewelry market. It covers projections for various central banks' interest rate changes, India's strong economic momentum, FDI inflows, and the impact of government initiatives. Furthermore, it details shifts in consumer behavior regarding sustainability and the evolving dynamics of the jewelry industry.

The provided text discusses various aspects of the jewelry market, covering both global and Indian segments, including artificial and costume jewelry. The global artificial jewelry market is projected for significant growth, with Asia-Pacific leading in market share. In India, the jewellery sector is culturally significant, with a structural shift towards organized retail and digital transformation. Key segments like necklaces dominate in imitation jewellery, and silver plays a crucial role in the Indian sector. Furthermore, the Indian costume jewelry market is growing due to increased fashion awareness and disposable incomes.

The company operates in the imitation jewelry sector, focusing on the manufacturing and wholesale distribution of costume jewelry, alongside the trading of branded cosmetics. The company produces handcrafted jewelry that blends traditional designs with modern styles and distributes these products through various wholesale channels and direct sales to different market segments. The business model is diversified across the fashion and personal care sectors.

The company focuses on catering to the B2C segment by expanding its retail presence in Kolkata through a newly constructed property. The business involves procuring cosmetics in bulk and distributing them to other sellers, sourcing products from existing participants in the cosmetics industry without incurring product development costs. The company also deals in artificial jewellery, which is sourced from other participants, and sells it through a Shop-in-Shop (SIS) model. The B2B offering extends to a wide range of branded cosmetics, which complements the jewellery business by attracting regular customers. The company designs and manufactures jewellery through contract manufacturers and operates within the fashion jewellery sector in Kolkata, encompassing roles like dealer, retailer, and distributor of imitation jewellery alongside cosmetics trading.

The company's journey began with Mr. Mohammed Usman starting as a salesman in 2003, leading to the establishment of a small retail setup in Kolkata where he initially sold products manufactured by a third party. He later expanded into the manufacturing segment in 2015, acquiring an existing company and renaming it to R.K. Fashion Accessories Private Limited. Manufacturing of fashion jewellery was carried out in Kolkata, though plating work was outsourced to Mumbai due to local technological limitations. The company has since expanded its operations across various states in India through a structured approach, focusing on maintaining uniform quality standards across all products and services.

The company develops jewellery designs based on market insights gathered through extensive market research, data analytics, and customer feedback to align with market trends and regional variations. The company relies on contract manufacturers for the design development of jewellery mountings, and subsequently, for the production of final products. The company follows a contract manufacturing model where third-party fabricators source base metals, and the company procures finished jewellery mountings from them for further value addition like finishing and assembly. There is a strategic shift in procurement, where the company now directly procures gold, primarily to manage price volatility in gold markets. The company manufactures products using a network of artisans engaged as contract manufacturers, who implement designs according to specifications suited to regional preferences.

The company deals with various segments, including boutique owners, local retailers, and export merchants. The brand 'Manikya Jewellery' utilizes a multi-platform e-commerce strategy across various online channels and its official website to reach a diverse customer base. The company has established corporate partnerships through Shop-in-Shop (SIS) formats within national retail chains to ensure a widespread retail footprint. Furthermore, the company manages a comprehensive business process covering everything from order intake to final delivery, involving product design, quality checks, and logistics. The company maintains consistent revenue growth through product portfolio diversity and pricing flexibility, and implements multi-stage inspection processes for product reliability.

The company focuses on product quality through rectification or replacement processes to ensure consistency across its offerings. The process involves careful packaging with protective materials and branding elements for safe transit. Dispatch methods are segmented based on the order type, utilizing logistics partners for wholesale bulk shipments or courier services for online orders. Timelines for order dispatch vary, with same-day dispatch for domestic wholesale orders and 24-hour processing for online retail orders. Payment terms are structured differently depending on the client type, ranging from immediate payment for retail orders to extended credit facilities for long-term wholesale clients. The company maintains customer relations through dedicated support teams and offers various return and exchange policies for different customer segments.

This section details the company's operational setup, including the history of its registered office and various aspects of its business infrastructure and human resources. It mentions that a fire destroyed original documents related to former premises, and clarifies that there is no conflict of interest between the company and its promoters. The text also covers aspects of utilities, human resource management, safety measures, transportation policies, and the competitive landscape, including a list of competitors and details on intellectual property applications.

The company's operations are subject to various central and state legislations, including taxation statutes like the I.T. Act, GST, and various Labour laws. The text details several key laws that apply to the business, such as the MSME Act, the Digital Personal Data Protection Act, the Consumer Protection Act, and various rules governing e-commerce. Furthermore, compliance is required concerning legal metrology standards, municipal trade licensing in Kolkata and West Bengal, customs regulations for import/export, and numerous tax laws. Employment and labour laws, including those concerning sexual harassment, child labour, working conditions, and wages, are also relevant to the company's operations.

This section primarily details various Indian laws that are applicable to the company's operations, including social security legislation, intellectual property laws, foreign investment regulations, and general corporate laws. It also provides a brief history of the company's incorporation, including changes in its name and conversion to a public limited company. Furthermore, it lists the initial subscribers and directors, along with details on the holding of the promoters as of the filing date, and mentions the total number of shareholders.

This section details various corporate and operational aspects of the company, including its registered office history, changes to its Memorandum of Association, and significant corporate events. The company's main objects cover a broad range of activities, including manufacturing, trading, and consultancy related to jewellery, fashion accessories, textiles, and various other goods. The text also outlines amendments to its authorized share capital over time and mentions a merger with other entities. Furthermore, it states that the company currently has no strategic partners, financial partners beyond routine banking arrangements, or subsidiaries/joint ventures.

The company has maintained continuous operations without any divestment of business since its inception. Furthermore, the company has not been involved in any labor disputes such as strikes or lockouts, and its employees are not unionized as of the date of the Red Herring Prospectus. There have been no material changes to the company's activities since incorporation, except as detailed in other sections of the prospectus. The Board of Directors is composed of seven members, including one Managing Director, who is in compliance with the Companies Act, 2013 and SEBI regulations.

This section details the brief profiles and functional responsibilities of the company's directors, including the Chairman cum Managing Director, the Whole Time Executive Director, and the Chief Executive Officer. It outlines the appointment timelines and key duties for each director, such as procurement, customer relationship management, and brand introduction. Furthermore, it specifies various terms and conditions related to the appointment, remuneration, and retirement of the Managing Director and the Whole Time Director.

This section details various aspects related to the remuneration, perquisites, and terms of appointment for the company's directors, including the CEO and Executive Director. It outlines the structure for remuneration, including potential increments and ceilings, along with various benefits such as company contributions to provident funds, free use of company cars, and reimbursement for medical expenses. It also specifies terms regarding leave, gratuity, and sitting fees for directors. Furthermore, the text discusses the lack of performance-linked bonus plans, contingent compensation, and details concerning loans, related party transactions, and the shareholding structure of the directors and promoters.

This section primarily details various declarations and interests of the company's directors, including restrictions on their past involvement with listed companies or financial institutions. It outlines stipulations regarding payments made to directors for services, as well as their interests in property transactions or business activities. Furthermore, it covers disclosures related to the board's composition, corporate governance framework, and the constitution and powers of various Board committees, such as the Audit Committee.

This section details various oversight and review functions delegated to different committees within the company, including the Audit Committee, Nomination and Remuneration Committee, and the Stakeholders Relationship Committee. These functions cover areas such as financial statement review, related party transactions, internal controls, auditor performance, and governance matters. The text also outlines the composition, tenure, and terms of reference for these committees, including their responsibilities related to director appointments, remuneration policies, and handling of shareholder grievances.

This section details the constitution and terms of reference for the IPO Committee, outlining various powers related to the offer process, including deciding the size of the offer, appointing necessary intermediaries, and finalizing the Draft Red Herring Prospectus (DRHP). It also specifies procedures for dealing with shareholder participation, advertising, and regulatory filings. Furthermore, the text lists the Key Managerial Personnel (KMP) and Senior Managerial Personnel (SMP) of the company, along with details about their qualifications, experience, and employment status.

This section primarily details compliance and relationship disclosures concerning the company's Key Managerial Personnel (KMP) and Senior Managerial Personnel (SMP). It states that the company's directors are in compliance with Regulation 17(1A) of LODR Regulations, 2015. Furthermore, it clarifies that no KMP or SMP have been selected based on arrangements with major shareholders, customers, or suppliers. The text also covers aspects related to compensation, bonus plans, contingent compensation, and shareholding interests of the KMP and SMP in the company.

The company currently does not have any partnership firms. Kzar Hotels & Restaurants Private Limited was incorporated under the Companies Act, 2013, and its registered office is located in Kolkata, West Bengal. The company's business involves establishing, operating, managing, franchising, leasing, or licensing various food and beverage service units, including restaurants, cafes, fast food outlets, food courts, bakeries, and various food and beverage services. These services cover all kinds of food and beverage items, including vegetarian and non-vegetarian items, confectionery, bakery products, health foods, snacks, and refreshments. The promoters have not been involved in other ventures, and there has been no change in management or control of the company in the preceding five years. Furthermore, the promoters have not provided personal guarantees for equity shares, nor have they entered into certain contracts or arrangements with others.

This section details the structure of the Promoter Group, listing various natural persons and relationships with the Promoters as defined by SEBI ICDR Regulations. It also outlines entities that form part of the Promoter Group based on shareholding criteria. Furthermore, the document discusses the policy regarding the declaration and payment of dividends, stating that the company has no formal policy and future dividend payments depend on various financial factors and the discretion of the Board.

The section details the process of extracting information from audited financial statements for various periods and the subsequent review by the statutory auditors, Murarka & Associates, Chartered Accountants. It confirms that the financial statements were audited and approved by the Board of Directors, and the auditors' certificates are valid. The report mentions adjustments and regroupings made to the financial statements, and clarifies that the financial information may differ from the original audited statements due to these adjustments. Furthermore, it states that the report is for the information and inclusion in the Offer document for the proposed IPO and should not be used for any other purpose without prior written consent.

This section details various accounting treatments and recognition criteria for different financial items, covering deferred income taxes, intangible assets, provisions, and tax expense components. It specifies the recognition and review criteria for deferred tax liabilities and assets, the criteria for recognizing and amortizing intangible assets, and the impairment testing process for assets. Furthermore, the text outlines when a provision should be recognized, the components of tax expense, the disclosure of related party transactions, and the methods for calculating basic and diluted earnings per share.

The issuer operates within the [Industry/Sector] sector, primarily focusing on [Business Description]. The company's core offerings include [Key Products or Services]. Operations and manufacturing facilities are located in [Manufacturing or Service Locations]. Furthermore, the company has established relationships through subsidiaries and joint ventures, and its market position is characterized by [Market Position].

The issuer operates within the [Industry/Sector] sector, primarily focusing on [Key Products or Services]. The company's operations involve [Manufacturing or Service Locations] and it has established relationships through [Subsidiaries and Joint Ventures]. Regarding its market position, the company holds a [Market Position] within the industry.

The issuer operates in the [Industry/Sector] sector, primarily focused on [Business Description]. The company's core offerings include [Key Products or Services]. Operations and manufacturing facilities are located in [Manufacturing or Service Locations]. Furthermore, the company has established relationships or entities such as [Subsidiaries and Joint Ventures]. The issuer holds a position in the market characterized by [Market Position].

This section primarily presents financial ratios for R. K. Fashion Accessories Limited based on restated financial statements for various periods. The data includes metrics such as Net Worth, Profit after tax, weighted average number of equity shares, earnings per share, return on net worth, net asset value per equity share, and earnings before interest, taxes, depreciation & amortization (EBITDA). The text also provides notes explaining the computation formulas for these ratios and clarifies that the figures are based on restated financial information.

This section provides a discussion and analysis of the issuer's financial condition and results of operations, noting that the information is based on Restated Financial Statements. The company was originally incorporated as Satabadi Distributor Private Limited and later converted into a Public Limited Company. The company operates in the manufacturing and wholesale distribution of imitation jewellery and the trading of branded cosmetics. Key business activities include designing and manufacturing products, operating within the imitation jewellery sector in Kolkata, and engaging in various distribution channels. Furthermore, the company has started leasing hotels to third parties to generate rental income, a change from previous direct management of hotels in Kolkata.

This section primarily discusses various risks that could adversely affect the company's operations and financial condition, including market volatility, competitor performance, dependence on key partners, and the ability to manage employee relations. It also provides detailed financial statements showing changes in assets and liabilities between different fiscal years. The financial data details fluctuations in borrowings, trade payables, investments, receivables, inventories, and loans and advances, attributing these changes to factors such as working capital requirements, sales growth, and strategic deployment of funds.

R.K. Fashion Accessories Limited is a manufacturing company that specializes in imitation jewellery, which is produced by contract manufacturers, and the trading of branded cosmetics. The company generates revenue primarily through the sale of finished goods to boutique owners, local retailers, and trade buyers, often facilitated by long-standing corporate relationships with organized retail chains. Revenue also includes income from leasing and operating hotels to third parties. The company's revenue has shown a progressive shift towards the jewellery segment, with its contribution increasing significantly over the years. The company's operations involve various costs, including raw material consumption, employee benefits, finance costs, depreciation, and other operational expenses.

The company reported a significant improvement in profitability during the stub period, with the net profit after tax increasing substantially. Revenue from operations was derived from the sale of jewellery, with Wedding Jewellery being the largest segment. The company strategically focused on scaling its core imitation jewellery manufacturing segment, which drove overall revenue growth. Furthermore, the company successfully onboarded a high number of new customers, which contributed significantly to incremental sales growth. Operational expenses showed an increase, mainly due to the separate recognition of plating charges for certain fashion jewellery products.

Profit After Tax (PAT) margins improved due to better sales of fashion jewellery products, enhanced sourcing efficiencies, and operating leverage from increased scale of operations. Revenue from operations grew significantly, driven by sales of imitation jewellery, cosmetics trading, and hotel rentals. The company also implemented strategic price revisions in response to rising gold and silver prices in the jewellery industry, which helped improve gross margins. Furthermore, the company benefited from higher rental income from leased-out hotels and a one-time income from the sale of investments.

The company reported an increase in net profit after tax, with the PAT margin improving significantly from 6.56% in FY2024 to 11.21% in FY2025. This improvement was supported by efficient expense management, as the total expenses incurred as a proportion of total income decreased from 92.91% in FY2024 to 84.30% in FY2025. Several factors contributed to expense reductions, including lower director remuneration and reduced employee salaries, as well as optimization in the purchase of stock-in-trade. Furthermore, the company transitioned hotel operations to a lease arrangement, leading to reduced operational expenses, and there were savings from electricity charges and lower labor costs. The increase in total income was also supported by stronger core business performance and an increased reliance on wholesale channels.

The company, RK Fashion Accessories Ltd., is a Kolkata-based entity engaged in the manufacturing through contract manufacturers and wholesale distribution of fashion jewellery, alongside the trading of branded cosmetics in the B2B segment. The company produces handcrafted jewellery items that blend traditional designs with modern styles and distributes them via wholesale channels and direct sales, supporting a diversified business model in the fashion and personal care sectors. Furthermore, the company has shifted its operations to leasing hotels to third parties starting from the 2024-25 financial year to generate rental income. The company operates in the fashion jewellery, branded cosmetics, and hotel rental industries.

The company has outstanding borrowings totaling ₹306.40 Lakhs as of June 30, 2026, which includes interest-free loans from promoters under related party transactions. The section details various provisions regarding outstanding litigation, including criminal proceedings, actions by statutory or regulatory authorities, and disciplinary actions against the company, its promoters, directors, and key managerial personnel. Furthermore, there are outstanding direct tax demands from the Income Tax Act.

The section details various financial demands, including outstanding amounts related to Direct Tax and Indirect Tax, and clarifies the criteria for classifying dues owed to small-scale undertakings and creditors as material. It also outlines the regulatory approvals obtained by the company and lists several licenses and registrations required for the company to conduct its business activities.

This section details various certificates and registrations held by R K Fashion Accessories Private Limited, covering aspects related to Goods and Services Tax, professional tax, and trade licenses in different jurisdictions. The documentation includes certificates from various authorities in Karnataka and West Bengal, spanning different dates for validity and expiry. Furthermore, the section lists approvals related to Udyam registration, Importer-Exporter Code, and various Trade Licenses, as well as approvals concerning employee provident funds and state insurance.

This section primarily details various regulatory and statutory disclosures related to the issuance of the Draft Red Herring Prospectus. It includes approvals obtained from the Board of Directors and shareholders for the fresh and issue of equity shares, as well as approval from the NSE to use its name in the prospectus for listing on the SME Platform. Furthermore, it contains confirmations regarding the compliance of the company and its promoters with various securities laws and regulations.

The company is classified as an "Unlisted Issuer" under SEBI (ICDR) Regulations, and the current issue is an "Initial Public Offer." The company meets eligibility criteria for the Initial Public Issue because its post-issue face value paid-up capital is within the specified limits and it satisfies track record and/or other eligibility conditions of the SME Platform of NSE ("NSE EMERGE"). The process involves 100% underwriting, with the Book Running Lead Manager to underwrite a minimum of 15% of the total issue size. Furthermore, there are confirmations regarding the number of allottees, the submission of the Prospectus to the Registrar of Companies and Stock Exchange, and agreements for compulsory market making for a minimum of three years.

This section primarily contains legal disclaimers, cautionary statements, and procedural information related to the issuance of the Red Herring Prospectus. It outlines the responsibilities of the company, directors, and book-running lead managers, specifies the jurisdiction for disputes, and details the eligibility criteria for investors. Furthermore, it addresses various aspects concerning past public issues, capital issues, and the status of the company's subsidiaries and related entities.

The section primarily discusses the regulatory status of the company as an Unlisted Issuer and details various grievance redressal mechanisms related to the Initial Public Offering. It outlines procedures for investors to address grievances with the Registrar to the Offer, including the required details for submission. Furthermore, it describes the role and liability of various parties, such as Book Running Lead Managers and SCSBs, in handling investor issues, including compensation for delays in fund unblocking. The text also references various SEBI circulars and mechanisms related to the UPI Mechanism for public issues and investor complaints.

This section details various aspects related to the offer, including the legal framework governing the equity shares, the procedures for the offer, and the rights of equity shareholders. It outlines the compliance requirements under various laws and regulations, the process for applying for the offer, and the terms related to the allotment and trading of the securities. Furthermore, it specifies the minimum bid lot sizes and rules for different types of bidders.

This section details various procedural and legal aspects related to the public issue, including limitations on bid sizes, minimum requirements for allotment, and jurisdiction. It specifies that the trading of Equity Shares requires a minimum contract size of 3200 Equity Shares, and the minimum bid size per bid must be ₹ 2.00 lakh. Furthermore, the minimum number of allottees is set at 200 shareholders, and failure to meet this threshold may result in no allotment. The section also outlines various timelines for the offer process, including opening, closing, and the subsequent steps for fund unblocking, while also clarifying the rules for bid submission and acceptance.

This section primarily details various procedural and regulatory aspects related to the Bid/Offer process, including data discrepancies, price band revisions, and the conditions for subscription and underwriting. It outlines rules regarding the extension of the Bid/Offer period due to force majeure events or other circumstances. Furthermore, it specifies requirements for the underwriting commitment, minimum subscription levels, and the consequences for failure to receive the required subscription amount within stipulated timeframes. The text also covers the requirements for migration to the main board, market-making obligations, and the structure of the Initial Public Offer.

This section details various procedural aspects related to the offer process, including allocation rules, payment mechanisms, and withdrawal rights. It specifies conditions for allocation to Anchor Investors, the process for handling under-subscription, and the rules for bid submission and acceptance. Furthermore, it outlines the various phases and timelines related to the implementation of the Unified Payments Interface (UPI) mechanism for payments and the listing process.

This section details various regulatory measures and procedures related to the initial public offering (IPO) process, including timelines, investor grievance redressal, and the implementation of the UPI Mechanism. It outlines specific rules concerning the blocking and unblocking of application monies, the responsibilities of intermediaries, and the phased implementation of the UPI mechanism for public issues. Furthermore, it describes the book-building procedure, including allocations for different investor categories like QIBs, Mutual Funds, and Individual Investors, and requirements for bid forms, especially concerning UPI IDs and bank account details.

This section details the various requirements and procedures for investors to bid in the issuance, including specific rules regarding the use of UPI mechanisms and the necessary documentation. It outlines strict requirements for providing bank account details and authorizations to block funds, ensuring sufficient credit balances in the respective accounts. Furthermore, it specifies the roles of Designated Intermediaries in accepting applications and uploading details into the electronic bidding system. The text also covers the timeline for the offer period and the rules for handling multiple applications.

This section details various restrictions and eligibility criteria related to the bidding and subscription process for the securities offer. It outlines who is ineligible to bid, such as minors, partnership firms, and certain foreign nationals, and clarifies rules regarding Overseas Corporate Bodies (OCBs) and investment approvals from the RBI. The text also specifies minimum and maximum application sizes for different investor categories, such as Individual Investors and Non-Institutional Applicants, and outlines procedures for bid submission, including the use of various forms and the handling of funds in ASBA accounts.

This section details various restrictions and guidelines concerning different categories of investors—including Anchor Investors, QIBs, Eligible NRIs, FPIs, and SEBI registered entities like VCFs and AIFs—when bidding for equity shares in the offer. It outlines specific rules regarding bid amounts, allocation limits, documentation matching, and restrictions based on the investor's type, such as holding limits in the company's equity capital. Furthermore, it specifies procedures for handling multiple bids from FPIs and the conditions under which certain derivative instruments can be traded by FPIs.

This section details various restrictions and requirements concerning different categories of investors participating in the offer, including Hindu Undivided Families (HUFs), Mutual Funds, Systemically Important Non-Banking Financial Companies (NBFCs), Limited Liability Partnerships (LLPs), Banking Companies, Insurance Companies, and various fund types. It specifies documentation required for different bidders, such as registration certificates, and outlines investment limits based on the nature of the investor and the company's sector. Furthermore, the text covers procedures for Application Supported by Blocked Amount (ASBA) applications, the process for issuing confirmation notes (CAN), and arrangements for payments, including those for Anchor Investors.

This section details various procedural aspects related to the application and allotment process for the issue, including requirements for bidders, timelines for verification, and undertakings by the company. It outlines the process for forwarding applications, the role of designated intermediaries, and the conditions under which applications might be rejected or how funds are handled. Furthermore, it covers aspects of price discovery, allocation rules based on SEBI regulations, and the process for publishing pre-offer advertisements and allotment notices.

This section primarily outlines detailed instructions and compliance requirements for investors bidding in the securities market, covering various aspects such as eligibility, fund blocking procedures, and documentation. It specifies rules for different types of bidders, including requirements for using Designated Intermediaries, ensuring correct details in bid forms, and compliance with various regulatory circulars. The instructions differentiate between various bid types, such as joint bids, multiple bids, and specific restrictions on bid amounts and submission methods.

This section details various aspects of the bidding and allotment procedures under the prospectus, including different types of bidders, timelines for bids, and procedures for resolving issues related to share certificates and fund blocking. It outlines specific rules for handling delays in unblocking funds and the roles of various entities in finalizing the basis of allotment. Furthermore, it specifies the rules for allocating shares to different investor categories, such as Individual Investors, Non-Institutional Bidders, and QIBs, including provisions for under-subscription and the allocation of shares to Anchor Investors.

This section primarily details the procedural aspects related to the public offer, including the requirements for bidder accounts and communications. It outlines the process for accepting bid forms, the necessary details required from bidders, and the timelines for listing and trading commencement. Furthermore, it discusses restrictions on foreign ownership of Indian securities, noting that while FDI in electronics hardware manufacturing is permitted up to 100% under the automatic route, certain investments may require prior government approval.

This section primarily discusses regulatory aspects related to investment and the issuance of equity shares, focusing on restrictions imposed by various Indian laws and international regulations. It details requirements for investment by entities from countries sharing a land border with India or where the beneficial owner is a citizen of such a country. Furthermore, it addresses the treatment of multilateral banks and funds in relation to investments in India under the Foreign Exchange Management (Nondebt Instruments) Rules. The text also outlines procedures for foreign residents making investments into India and clarifies the registration status of the equity shares concerning U.S. securities laws and sales within or outside the United States.

The issuer operates within the [Industry/Sector] sector, focusing on the provision of [Key Products/Services]. The company's operations involve [Manufacturing/Service Location details]. Furthermore, the company has established relationships or entities such as [Subsidiaries/Joint Ventures]. Regarding its market position, the company holds a [Market Position detail] within the relevant market.

The issuer operates in the [industry/sector] sector, primarily focusing on [business description]. Key products or services include [products/services mentioned]. The company has manufacturing or service locations established in [locations mentioned]. Furthermore, the issuer has [subsidiaries and joint ventures mentioned], and its market position is characterized by [market position details].

The issuer operates within the [Industry/Sector] sector, focusing on the provision of [Key Products/Services]. The company's operations involve [Manufacturing/Service Location details], and it has established relationships through [Subsidiaries and Joint Ventures]. The market position of the issuer is described as [Market Position details] within the relevant market.

This section details the procedures for inspecting material contracts and documents related to the company's activities. It specifies that certain contracts and documents, which may be deemed material, will be attached to the Draft Red Herring Prospectus and the Prospectus filed with the Registrar of Companies (RoC) and the NSE SME platform. Copies of these documents can be inspected at the Registered Office during specified working hours or found on the company's website until the Offer Closing Date. Furthermore, it outlines that these contracts and documents can be amended or modified as required by the company or other parties, subject to compliance with relevant laws.

This section primarily contains various resolutions, consents, and certifications related to the issuance of the Draft Red Herring Prospectus, including approvals from the Board of Directors and Shareholders. It details the inclusion of various reports, such as Statutory Auditor's Reports and Statements of Possible Special Tax Benefits, and consents from various experts and parties. Furthermore, it includes declarations certifying compliance with relevant laws and the truthfulness of the statements made in the prospectus.

This section primarily contains various declarations certifying compliance with relevant laws and regulations, including the Companies Act, 2013, and various rules and guidelines issued by the Government of India and SEBI. Several directors and officers have certified that the statements and disclosures made in the Draft Red Herring Prospectus are true and correct. The declarations are signed by the Director, an Independent Director, and the Chief Financial Officer.

This section primarily consists of various declarations certifying compliance with relevant laws and regulations, such as the Companies Act, 2013, and rules issued by the Government of India or SEBI. Several individuals, including the Company Secretary and various Promoters, have signed these declarations, affirming that the statements and disclosures made in the Draft Red Herring Prospectus are true and correct.

This section provides key details about the issuer, R.K. Fashion Accessories Limited, including its corporate identity and registered office. It outlines that the company was originally incorporated as a Private Limited Company and later converted to a Public Limited Company. The document details the terms of an Initial Public Offer for a fresh issue of equity shares through a Book Building Process. It also specifies the parties involved in the offer, such as the Lead Managers and the Registrar.

The provided text details various aspects related to the company's governance, auditors, and key personnel as disclosed in the Draft Red Herring Prospectus. It mentions that the Statutory Auditor is M/s Murarka & Associates, Chartered Accountants, Kolkata, and they hold a valid Peer Review Certificate. The Board of Directors is referred to as the Board of Directors of R.K. Fashion Accessories Limited. Key managerial personnel such as the Chairman, Chief Financial Officer, and Company Secretary and Compliance Officer are identified, along with their respective roles and references to other parts of the prospectus for further details. The company's Corporate Identification Number (CIN) is provided.

The section details various procedural aspects related to the offer, including the roles of different intermediaries, the process for accepting bids, and the terms for fund collection. It specifies that the Book Running Lead Manager is Affinity Global Capital Market Private Limited. It outlines the process for bid acceptance, the time frame for bids, and the conditions for finalizing the offer price. Furthermore, it defines various investor categories, such as FPIs, NRIs, and QFIs, and details the structure of the fresh offer.

The section discusses various terms related to the offer process, including definitions for Offer for Sale, pricing, and the parties involved. It specifies that Offer for Sale is not applicable under the terms of the Draft Red Herring Prospectus. It details how the Offer Price will be decided in consultation with the Book Running Lead Manager during the Book Building Process. Furthermore, it outlines the process for publishing the Price Band and the minimum bid lot in various national daily newspapers. It also defines various investor types and the mechanisms for bidding, such as UPI Bids.

This section lists various acronyms and abbreviations related to corporate governance, financial reporting, regulatory bodies, and industry-specific terms. It includes references to various acts, boards, commissions, and standards from different sectors. The list covers aspects such as stock exchanges, accounting standards, foreign exchange, and various industry-related concepts.

This section outlines conventions regarding the use of various terms, the reference to different parts of the Red Herring Prospectus, and the presentation of financial data. It specifies that certain defined terms are provided in specific sections such as the “Risk Factor”, “Summary of Offer Documents”, “Industry Overview”, and “Our Business” (beginning on page 38, 28, 178, and 197), as well as terms defined in the “Statement of Possible Tax Benefits” (beginning on page 170), and the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (beginning on page 318). The document also details conventions for referring to geographical entities, time, currency, and the meaning of numerical terms like 'Million' and 'Lakh'.

This section details various risk factors that could affect the company's operations, including changes in laws, economic conditions, and competition. It also includes disclaimers regarding forward-looking statements and the obligation of the company and lead managers to inform investors of material developments. The summary section outlines the terms of the offer, including the structure of the equity share allotment and the intended use of the net proceeds from the offer.

This section details various financial calculations, litigation summaries, and related party transactions related to the company. It outlines formulas for calculating Net Worth, Total Income, Earnings per share, and Net Asset Value per Equity Share. The summary of outstanding litigations shows no proceedings against the company, promoters, directors, or KMP/SMP, except for a minor amount against the KMP/SMP. Furthermore, it lists risk factors concerning customer dependency, raw material supply, manufacturing reliance on contract manufacturers, manpower/machine intensity, and working capital requirements. The section also covers contingent liabilities, related party transactions over the last three years, financing arrangements, and details regarding the acquisition of equity shares by promoters.

This section details various compliance statements and risk factors related to the company's operations and investment. It confirms that the company has not issued equity shares for cash in the last year and has not undertaken any split or consolidation of equity shares in the preceding year. Furthermore, the company has not applied for or obtained any exemptions from complying with securities laws from SEBI as of the date of the Red Herring Prospectus. The risk factors highlight potential adverse effects on the business, financial condition, and cash flows due to various factors, including revenue concentration in certain regions, dependency on key customers, and risks associated with contract manufacturers.

The company has established relationships with multiple contract manufacturers and maintains flexibility to onboard additional manufacturers based on operational and commercial needs, ensuring no material dependency on any single source. The company faces significant working capital requirements to finance inventory and trade receivables, and the inability to meet these requirements could negatively impact operations. The company has reported negative cash flows from operating, investing, and financing activities in previous periods, which is attributed to various factors such as changes in current and previous years' financial statements.

This section details various operational and financial risks faced by the company, including dependency on suppliers, credit risks from retail partners, labor issues, volatility in raw material prices, and potential issues with insurance coverage. It also discusses risks related to the execution of property acquisition agreements, the reliance on anticipated market demand for product sales, and the potential for false returns in online sales. Furthermore, it outlines the significant role of trade receivables and inventory in the company's current assets, and the potential for these to negatively impact cash flow and liquidity.

The provided text discusses various operational and financial risks faced by the company, including the impact of fraudulent returns, challenges in manufacturing, and vulnerability to unforeseen incidents like fires or natural calamities that could damage inventory. The company's business relies heavily on e-commerce platforms, making it susceptible to disruptions, policy changes, or increased platform fees. Furthermore, the company faces risks related to the timely collection of receivables, which can strain working capital, and the inventory turnover ratio has shown a significant decrease, posing a risk of obsolescence. The industry itself is highly competitive, leading to pricing pressure, and the company has outstanding litigation against itself and its promoters.

The provided text discusses various financial aspects, including related party transactions, the reliance on a Shop-in-Shop (SIS) model, and the cost of acquisition of equity shares by promoters. It highlights potential challenges arising from the SIS model, such as dependency on retail partners' performance and direct competition. Furthermore, it mentions that the average cost of acquisition of equity shares by promoters might be lower than the offer price, and it details compensation paid to certain directors during a specific financial year.

This section details the authorized and issued equity share capital of the company as of the date of the Red Herring Prospectus filing. It outlines various aspects related to the offer of new shares, including provisions for market makers and allocations to different investor categories. Furthermore, it provides a history of the paid-up equity share capital, detailing numerous allotments, issues, and changes to the authorized capital over several years. The text also clarifies the class of shares and the status of any pending share application money or convertible instruments.

This section details various historical issuances and conversions of equity shares by the company. It outlines initial subscriptions, subsequent right issues, private placements, and a significant allotment under a scheme of amalgamation. Furthermore, it describes a conversion of a loan into equity shares and a future bonus issue. The text also clarifies that no equity shares were issued for consideration other than cash since incorporation and that no revaluation reserves have been capitalized for issuing equity shares.

The summary table shows the shareholding structure of the company as of the date of the Draft Red Herring Prospectus. Promoters collectively hold a significant portion of the equity, representing approximately 99.61% of the pre-issued, subscribed, and paid-up equity share capital. The ownership breakdown details various transactions, including cash issues, right issues, private placements, and various gift transactions over time. Furthermore, the table confirms that none of the equity shares held by the promoters were pledged or otherwise encumbered.

The section details various transactions involving equity shares, including cash transfers, gift transfers, and private placements over several years. It outlines rules regarding the locking-in of promoter contributions and specifies conditions under which pledged equity shares may be used as collateral for loans. Furthermore, it clarifies the non-transferability of locked-in shares and the conditions under which such shares can be transferred to other parties.

This section details the shareholding structure of the company's promoters and promoter group, including various shareholding percentages as of different points in time. It also includes confirmations regarding the absence of convertible instruments and the status of shareholdings concerning pledges and lock-in arrangements. Furthermore, it outlines conditions related to the subscription process, such as spill-over provisions and the lack of certain financing arrangements.

This section details various procedural and disclosure aspects related to an offer, including lock-in periods, allotment procedures, and restrictions on certain investor categories. It outlines the objects for which the net proceeds from the fresh issue of Equity Shares are proposed to be utilized, primarily for working capital, financing new facilities, and general corporate purposes. The company also discusses the basis for estimating fund requirements, the potential for revisions based on market conditions, and the sources of finance for the proposed expenditures.

The company's working capital has shown a significant increase, growing from ₹142.99 lakhs as of March 31, 2025 to ₹748.21 lakhs by March 31, 2026, which is attributed to a reduction in trade payables and a planned increase in inventory. Trade payables declined, which was a deliberate move to secure timely payments to contract manufacturers amidst raw material price volatility. Furthermore, inventory levels increased due to pre-stocking for new B2C showrooms and expansion of the B2B wholesale outlet. The company also adopted strategies to manage inventory and working capital cycles in line with operational efficiencies and market conditions.

The company is planning several operational and expansion initiatives, including a new plating facility, the commencement of new showrooms, and extensions to existing ones. These plans are expected to improve operational efficiency by reducing outsourcing and transit delays. The company anticipates changes in inventory holding periods, trade payable days, and working capital requirements based on these strategic shifts. Increased inventory is necessary to support the display and sale across various product lines and new locations, which is expected to impact working capital significantly.

The company anticipates increased revenue in FY2028 due to the stabilization and ramp-up of new B2B and B2C stores. All three key locations—the Rash Behari Avenue B2C showroom, the Bagree Market B2B store, and the Ezra Street B2B showroom—are expected to be fully operational throughout FY2028 for the first time, which drives higher inventory requirements. Furthermore, the commencement of an in-house plating facility in Baruipur is projected to boost production capacity, necessitating higher raw material and work-in-progress inventory. Trade receivables are expected to rise significantly, driven by expanded wholesale operations, although the holding period for receivables is expected to slightly improve.

This section details the proposed capital expenditure for setting up new B2C showrooms and a manufacturing facility. It outlines the estimated costs for the purchase of a new store building, including interior work, inventory, and funding requirements. Furthermore, it discusses the planned expansion into a comprehensive B2C flagship showroom, including developing additional space and creating an in-house studio for content creation. The text also specifies the required inventory investment to support the expanded operations and provides a detailed schedule for the implementation of factory construction and various licensing approvals.

This section details aspects of the company's capital structure, including the nature of their product, capital expenditure for showroom development, and inventory details. It describes the use of PVD vacuum coating equipment for manufacturing imitation jewellery, which allows for various color finishes. The text outlines the estimated capital required for showroom development across different floors and the average inventory maintained at existing B2B and B2C stores. Furthermore, it discusses the inventory requirements for new showrooms and the proposed utilization of net proceeds for procuring initial opening inventory.

The section details the inventory requirements for proposed expansions into both B2B wholesale and B2C retail showrooms. The expansion into the B2B wholesale channel requires an initial opening inventory of approximately ₹400.00 lakhs for the new showroom in Kolkata. For the B2C retail showroom, the second and third floors are proposed to be operationalized using IPO proceeds, necessitating an initial opening inventory of ₹160.00 lakhs, which is approximately ₹80.00 lakhs per floor. The text also outlines the flexibility of management in utilizing proceeds for general corporate purposes and specifies limits on the quantum of utilization according to SEBI ICDR Regulations.

This section details various quantitative factors used to determine the Offer Price, including Earnings Per Share (EPS), Price to Earnings (P/E) Ratios, Return on Net Worth (RoNW), Net Asset Value (NAV), and Key Performance Indicators (KPIs). It provides historical data for these metrics across different financial years and a stub period, along with comparisons against industry peers. The data is derived from Restated Financial Statements and is intended to help investors assess the company's performance.

This section primarily outlines various calculation methodologies for financial metrics such as revenue growth, income growth, EBITDA margin, profit after tax growth, and various profit margins. It also details methods for calculating Earnings Per Share (EPS) and Price-to-Earnings (P/E) ratios. Furthermore, it provides definitions for Net Worth and explains how the Weighted Average Cost of Acquisition (WACA) is determined based on primary and secondary share transactions. The text also includes explanations for the Floor Price and Cap Price used in the Book Building Process, which are benchmarked against historical financial years.

This section outlines special tax benefits available to the company and its shareholders under various Direct Tax Laws, including provisions related to corporate tax rates, deductions for inter-corporate dividends, and provisions concerning capital gains and buy-back transactions. It also details special indirect tax benefits for the company related to exports and various benefits under the Foreign Trade policies. The section clarifies that shareholders are generally not entitled to special tax benefits under Indirect Tax Laws.

The provided section primarily discusses the conditions and limitations related to special indirect tax benefits available to the Company and its shareholders. It clarifies that these benefits are governed by specific provisions under the relevant Indirect Tax Laws. Furthermore, the statement emphasizes that the ability to derive these tax benefits depends on the Company and shareholders fulfilling the prescribed conditions. The text also serves as general information for investors and is not intended to replace professional tax advice.

The section discusses the interest of Promoters, Directors, Key Managerial Personnel, and Senior Management in the company's equity shares. It highlights risks related to the pledging of shares by promoters and the potential for volatility due to offloading holdings for personal gain. Furthermore, the text emphasizes the company's dependence on its promoters and senior management for business operations and growth. It also mentions risks associated with quality issues, customer dissatisfaction, and the competitive nature of the artificial jewellery industry.

The section details the shareholding of the company's promoters, including the number and percentage of shares held as of June 30, 2026. It also includes disclaimers regarding the potential for promoters to pledge shares as collateral, which could impact the company's stock price. Furthermore, the text discusses risks related to brand image, product quality, and customer dissatisfaction, noting the dependency of the artificial jewellery business on these factors. The section also covers dependencies on promoters and senior management for business operations and growth, and the risks associated with introducing new products that may not achieve commercial success.

The provided text discusses several risks related to the company's operations, including potential slowdowns in sales due to seasonality, competitive pressures in the jewellery industry, and the critical need to keep up with changing customer trends. It also highlights risks associated with customer confidence, such as potential negative publicity, and issues related to inventory management, product quality, and reliance on third-party logistics. Furthermore, the text points to compliance risks concerning ESIC regulations and the lack of intellectual property protection for in-house designs, as well as dependencies on third-party transport providers.

This section discusses various risks related to regulatory approvals, operational continuity, market conditions, and financial stability. It highlights potential disruptions from delays in receiving necessary permits, the impact of IT system failures, and dependencies on utilities like electricity, water, and fuel for manufacturing. Furthermore, the text addresses risks associated with market volatility, changes in laws and regulations, economic slowdowns, and potential issues with infrastructure and financing. It also covers risks related to the ability to implement growth strategies and the tax implications for shareholders.

The provided text primarily discusses various risks and regulatory considerations related to the company's business operations and financial reporting. Key risks include the potential adverse effects of competition laws, the impact of changes in accounting standards like IFRS convergence, and the volatility introduced by global financial instability. Furthermore, the text highlights risks associated with wage pressures in India, which could increase operating costs, and the potential impact of the Code on Wages, 2019, on the wage structure. There are also significant risks concerning the trading and liquidity of the equity shares post-issue, as well as the increased administrative burden of being a publicly listed company.

This section primarily details procedural information regarding allotment in the Mutual Fund portion of the offering, stating that such allotment will be added to the QIB portion and allocated proportionally to QIB Bidders based on their bids. It also directs readers to other parts of the DRHP for further details on bid rejection grounds. The section also provides general information about the company's incorporation history, including changes in its name and conversion from a Private Limited Company to a Public Limited Company, along with various corporate identification and address details.

This section details various key personnel and board members associated with the company, including the Chief Financial Officer and Company Secretary and Compliance Officer. It also outlines procedures for listing equity shares on the NSE Emerge Platform and the process for handling investor grievances related to the offer. Furthermore, it specifies the appointment of a monitoring agency and clarifies that no credit rating agency has been appointed for the offer.

This section primarily details various regulatory aspects related to public issue offerings, including the use of UPI mechanisms, lists of designated entities, and the book-building process. It outlines where investors can find lists of Designated Intermediaries, Registered Brokers, Registrar and Share Transfer Agents (RTAs), and Collecting Depository Participants (CDPs) on SEBI websites. Furthermore, it specifies the procedures for the book-building process, including the determination of the offer price, the allocation of securities to different investor categories (QIBs, Non-Institutional Bidders, Individual Bidders), and the timelines for various stages of the offer, such as bid opening, closing, and fund initiation.

This section details various procedural and regulatory aspects related to the offer, including bid submission timelines, withdrawal rights, underwriting agreements, and market-making arrangements. It outlines conditions for bid acceptance, the rights of parties to withdraw offers, and the obligations of underwriters and market makers under SEBI (ICDR) Regulations. Furthermore, it specifies the market-making arrangement with Anant Securities, including the duration and conditions for providing quotes and the potential punitive actions against market makers for non-compliance.

This section details various regulations and conditions related to market making processes, including limits on the number of Market Makers and inventory requirements. It outlines rules concerning the compulsory market making period, the mandatory inventory levels, price band calculations based on offer size, and the trading segments applicable for the first 10 days. Furthermore, it specifies rules regarding the transfer of equity shares to nominated investors and restrictions on the size of lots when buying or selling shares.