Ajmera Fashion Plans SME IPO
Ajmera Fashion Limited is preparing to enter the public markets with a proposed SME Initial Public Offering (IPO), marking a new phase in the company’s growth. The Surat-based ethnic apparel brand is expected to file its Draft Red Herring Prospectus (DRHP) between the third and fourth quarters of FY 2026–27.
Founded in 2011 by Ajay Ajmera, the company has built a strong presence in India’s ethnic wear segment, catering largely to Tier 2, Tier 3 and rural markets. Its product portfolio includes sarees, kurtis, dress materials and ethnic menswear.
Ajmera began his journey in the textile industry in 1992 in Surat, starting with a modest monthly salary and gaining extensive industry experience before launching the brand. Over the years, the company has expanded through a franchise-based retail model aimed at supporting small retailers and entrepreneurs. Currently, Ajmera Fashion operates nearly 220 franchise stores across India and has issued more than 550 franchise tokens.
The company has also been expanding its international presence through exports, reflecting growing global demand for Indian ethnic wear and helping diversify its revenue base.
Financially, Ajmera Fashion expects its revenue to reach around Rs 200 crore in FY 2025-26, compared with approximately Rs 147 crore in FY 2024–25. Profit after tax is projected to increase to about Rs 10-11 crore from Rs 7 crore in the previous year.
Ahead of the IPO, the company is also exploring a pre-IPO private placement, which could value the business at around Rs 300 crore, with about 5 per cent equity likely to be offered to investors.
Commenting on the development, Ajay Ajmera said the proposed IPO would help strengthen the brand’s visibility, expand its product portfolio and accelerate franchise expansion across the country.
