# R.K. Fashion Accessories Limited: IPO analysis > R.K. Fashion Accessories Limited (CIN U18109WB2010PLC144256) has filed a Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of 42,67,200 shares, priced at ₹77.00 to ₹82.00 per share. In FY26 it reported revenue of ₹30 Cr (+70.8% on FY25) and a net profit of ₹6.3 Cr. Promoters hold 99.6% before the IPO. Our fact-check of its claims found 1 medium or high concern across 40 claims checked. - Page: https://ipo.innerkore.com/company/U18109WB2010PLC144256/r-k-fashion-accessories-limited/ - CIN: U18109WB2010PLC144256 - Last updated: 1 Oct 2026 ## Key facts - **Company:** R.K. Fashion Accessories Limited - **CIN:** U18109WB2010PLC144256 - **Filing stage:** RHP - **Latest SEBI filing:** 1 Oct 2026 - **Price band:** ₹77.00 to ₹82.00 per share - **Lot size:** 3200 shares - **Bidding opens:** 5 Oct 2026 - **Bidding closes:** 7 Oct 2026 - **Listing on:** NSE - **Revenue FY26:** ₹30 Cr - **Revenue growth:** +70.8% - **Net profit FY26:** ₹6.3 Cr - **Revenue CAGR FY24 to FY26:** 51.2% - **Promoter holding (pre-IPO):** 99.6% - **Lead managers:** Affinity Global Capital Market Private Limited, Cameo Corporate Services Limited, R.K. FASHION ACCESSORIES PRIVATE LIMITED, Satabadi Distributor Private Limited, R.K. Fashion Accessories Private Limited, Company was converted into a Public Limited, Company to Public Limited - **Registrar:** INM000012838 Cameo Corporate Services Limited - **Fact-check flags:** 0 high, 1 medium, 0 low ## Key signals (read from the filing; not investment advice) - **Valuation** (looks fine): 20.2x P/E. From NSE's price band, on FY26 profit; 7.9x book value. - **Growth** (looks fine): 51.2% a year. Sales FY24 to FY26; latest year +70.8%. - **Profitability** (looks fine): 20.7% net margin. FY26; operating margin improving. - **Debt** (looks fine): 0.11x equity. ₹1.7 crore borrowed at the end of FY26. - **Profit into cash** (concern): -11% of profit. Operations brought in ₹-0.7 crore against ₹6.3 crore of profit in FY26. - **One-off income** (look closer): 14% of profit. Other and one-off income is 14% of pre-tax profit; management describes 3 one-off items. - **Where the money goes** (looks fine): All new money. 100% is new shares issued by the company. (converted using NSE's price band) - **Red flags** (look closer): 1 to review. 40 claims checked: 0 high, 1 medium concern. ## Financial snapshot (₹ crore unless stated; unspecified) | | FY24 | FY25 | FY26 | 3M Jun-26 | |---|---:|---:|---:|---:| | Sales | 13 | 18 | 30 | 7.5 | | Sales growth | – | 33.8% | 70.8% | – | | Operating profit | 0.12 | 3.0 | 7.3 | 2.6 | | Operating margin | 0.9% | 16.8% | 24.2% | 34.1% | | Net profit | 0.95 | 2.0 | 6.3 | 1.8 | | Net margin | 7.1% | 11.2% | 20.7% | 24.4% | | Net worth | 7.8 | 9.8 | 16 | 18 | | Borrowings | 0.61 | 0.61 | 1.7 | 3.1 | | Return on equity | 12.1% | 20.4% | 38.9% | – | ## Non-recurring items (as described by management) - Restated Profit before Exceptional Items, Extraordinary Item and Tax was ₹247.62 lakhs during the stub period ended June 30, 2026. (p.337) - The increase in other income is primarily due to onetime gain on redemption of investments made in Portfolio Management Services (PMS), amounting to ₹117.95 lakhs i.e. 99.57% of the total other income. (p.339) - The Company recorded a one-time, non-recurring income from the sale of its investments held in the form of PMS of ₹117.95 lakhs in FY2026, which formed 99.57% of total other income in FY2026. (p.343) ## Use of proceeds (fresh issue) - To meet the working capital requirements: ₹5.2 crore - To Finance Establishment of: amount not fixed yet - New plating facility at Baruipur, Kolkata West Bengal: ₹8.8 crore - Proposed new B2B showroom in Kolkata: ₹5.4 crore - Sl. No. Particulars Amount % of Net Offer Proceeds iii) Completion of B2C Stores in Kolkata: ₹2.5 crore - Inventory cost for the proposed new showroom and stores: ₹5.6 crore - General Corporate Purposes*: amount not fixed yet ## Fact-checked claims - **MEDIUM** (LitigationStatus): There is an outstanding demand totalling Rs. 800 including default of TDS for the years 2025-26 (Rs 360) and 2018-19 (Rs 440).. The search results mention pending income tax demand proceedings against the company totaling Rs. 0.3420 crore for AY 2018-19 and AY 2019-20, which is related to outstanding demands but does not directly corroborate the specific claim of Rs. 800 including TDS default for 2025-26 and 2018-19. - **NONE** (PromoterBackground): The Whole Time Director, Mr. Mohammed Imran, was appointed as Whole Time Director for a term of five years starting from February 25, 2026, with a remuneration of ₹1.80 Lacs per annum subject to a ceiling of ₹3.00 Lacs per annum.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the claim about the appointment and remuneration of Mr. Mohammed Imran as Whole Time Director for R.K. Fashion Accessories Limited. - **NONE** (PromoterBackground): The Managing Director, Mr. Mohammed Qasim, was appointed as Managing Director for a term of five years starting from February 25, 2026, with a remuneration of ₹3.00 Lacs per annum subject to a ceiling of ₹5.00 Lacs per annum.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the claim about the appointment and remuneration of the Managing Director of R.K. Fashion Accessories Limited. - **NONE** (PromoterBackground): Mr. Mohammed Aurangzeb is a Director who has been associated with the Company since February 26, 2021, and was initially appointed as an Additional Promoter Director (Non-Executive) before being regularized as a Promoter Non-Executive Director.. No web search results were found for the claim regarding Mr. Mohammed Aurangzeb's directorship and association with R.K. Fashion Accessories Limited. Therefore, no corroboration or contradiction could be assessed. - **NONE** (PromoterBackground): Mohammed Usman is the Promoter & Chief Executive Officer and was redesignated as Chief Executive Officer on the Board of the Company on February 25, 2026.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Mohammed Usman was redesignated as Chief Executive Officer on February 25, 2026. - **NONE** (PromoterBackground): Mohammed Imran is the Whole Time Executive Director and has been associated with the Company since October 3, 2025, in the capacity of a Promoter-Executive Director, and was redesignated as a Whole-Time Director with effect from February 25, 2026.. No web search results were found to corroborate, contradict, update, or provide any new information regarding the claim about Mohammed Imran's directorship history with R.K. Fashion Accessories Limited. - **NONE** (PromoterBackground): MD Qasim is the Chairman cum Managing Director and was originally appointed to the Board as an Independent Non-Executive Director on February 3, 2014, subsequently redesignated as the Managing Director on February 25, 2026.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the claim about MD Qasim's appointment and designation changes at R.K. Fashion Accessories Limited. - **NONE** (SubsidiaryPerformance): An amendment was passed on March 31, 2010 to increase the Authorised Share Capital from Rs. 1,0/- to Rs. 2,0/- divided into 20,000 Equity Shares of Rs. 10/- each.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim about an amendment passed on March 31, 2010, to increase the Authorised Share Capital of R.K. Fashion Accessories Limited. - **NONE** (SubsidiaryPerformance): The Registered Office of the Company was changed from 71, Canning Street, Bagree Marketing 2nd Floor, Room No.-A213, Kolkata -700001, West Bengal, India to Room No.A-201, 2nd Floor, Bagree Market 71, B. R. B. Basu Road, Kolkata - 700001, West Bengal, India on August 1, 2013.. No current web search results were found to corroborate, contradict, or provide any information regarding the stated change in the Registered Office address for R.K. Fashion Accessories Limited. - **NONE** (SubsidiaryPerformance): Mr. MD Aurangzeb, Mr. MD Qasim & Mr. Mohammed Imran acquired their initial holdings on March 31, 2013.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the claim that Mr. MD Aurangzeb, Mr. MD Qasim & Mr. Mohammed Imran acquired their initial holdings on March 31, 2013. - **NONE** (SubsidiaryPerformance): Nominal GDP is projected to reach Rs. 357.14 lakh crore (US$ 3.96 trillion) in FY 2025–26, from Rs. 330.68 lakh crore (US$ 3.98 trillion) in the previous year.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the projected Nominal GDP figures mentioned in the claim for R.K. Fashion Accessories Limited. - **NONE** (SubsidiaryPerformance): Real GDP (GDP at Constant Prices) in FY 2025–26 is estimated to reach Rs. 201.90 lakh crore (US$ 2.24 trillion), rising from Rs. 187.97 lakh crore (US$ 2.26 trillion) in FY 2024–25.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the claimed Real GDP figures for FY 2025-26 for R.K. Fashion Accessories Limited. ## Common questions ### How big is the R.K. Fashion Accessories Limited IPO? R.K. Fashion Accessories Limited's IPO comprises a fresh issue of 42,67,200 shares, according to its Red Herring Prospectus. The price band is ₹77.00 to ₹82.00 per share. ### What are R.K. Fashion Accessories Limited's revenue and profit? R.K. Fashion Accessories Limited reported revenue from operations of ₹30 Cr in FY26, +70.8% versus FY25. Net profit was ₹6.3 Cr (FY25: ₹2.0 Cr). Revenue grew at a compound rate of 51.2% a year from FY24 to FY26. Figures are read from the RHP, as printed there. ### How much do promoters own in R.K. Fashion Accessories Limited? Promoters hold 99.6% of R.K. Fashion Accessories Limited before the IPO. Largest holders listed: Mohamme d Usman (60.1%); MD Qasim (39.5%); 3 MD Aurangze b (0.0%). ### How will R.K. Fashion Accessories Limited use the IPO money? The fresh-issue proceeds are earmarked for: To meet the working capital requirements (₹5.2 Cr); To Finance Establishment of (amount not fixed yet); New plating facility at Baruipur, Kolkata West Bengal (₹8.8 Cr); Proposed new B2B showroom in Kolkata (₹5.4 Cr); Sl. No. Particulars Amount % of Net Offer Proceeds iii) Completion of B2C Stores in Kolkata (₹2.5 Cr); Inventory cost for the proposed new showroom and stores (₹5.6 Cr); General Corporate Purposes (amount not fixed yet). ### What are the red flags in R.K. Fashion Accessories Limited's RHP? We fact-checked 40 claims from the filing against the open web: 0 raised a high concern, 1 medium and 0 low. The most notable: The search results mention pending income tax demand proceedings against the company totaling Rs. 0.3420 crore for AY 2018-19 and AY 2019-20, which is related… This is an automated screen, not a verdict; each finding links to its sources. ### What does R.K. Fashion Accessories Limited do? Here’s a detail about the IPO of R.K. Fashion Accessories Limited that almost nobody is talking about: there’s no concrete evidence showing that the company's actual growth is tied to the promoters' ongoing guidance or services. ### Who manages the R.K. Fashion Accessories Limited IPO? Book running lead managers: Affinity Global Capital Market Private Limited, Cameo Corporate Services Limited, R.K. FASHION ACCESSORIES PRIVATE LIMITED, Satabadi Distributor Private Limited, R.K. Fashion Accessories Private Limited, Company was converted into a Public Limited, Company to Public Limited. Registrar to the offer: INM000012838 Cameo Corporate Services Limited. Shares are proposed to list on NSE. ### Where can I read the original R.K. Fashion Accessories Limited IPO documents? All 1 filing for R.K. Fashion Accessories Limited (RHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [R.K. Fashion Accessories Limited](https://nsearchives.nseindia.com/content/ipo/RHP_RKFAL.zip) (Red Herring Prospectus, filed 1 Oct 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.