Kolkata-based R.K. Fashion Accessories closed its Rs 34.99 crore SME IPO on October 7, 2026, after a three-day subscription window from October 5–7. The issue comprised a fresh issue of 42,67,200 shares (face value Rs 10) at a price band of Rs 77–82, with listing proposed on NSE Emerge.
The company manufactures imitation jewellery (contract-manufactured) and runs wholesale distribution, plus trading of branded cosmetics. IPO proceeds will fund a new plating facility at Baruipur, Kolkata, a B2B showroom, completion of B2C stores, inventory and working capital. Minimum investment was Rs 2.62 lakh (two lots of 1,600 shares at the upper band); Affinity Global Capital Market is the lead manager.
It is a quiet-week SME issue testing retail appetite between the big mainboard debuts — and exactly the kind of listing that keeps the SME Emerge ramp alive for small consumer brands that would never make a mainboard cut.
Why it matters for founders
SME Emerge remains the most underrated exit ramp for small consumer brands: a Rs 35 crore raise for a plating plant and stores is real growth capital for a real business. If your D2C or consumer brand is profitable at Rs 20–50 crore revenue, the SME route deserves a place in your long-term planning.