Ethnic Apparel Brand Ajmera Fashion Eyes SME IPO
Ahead of the proposed IPO, the company is considering a pre-IPO private placement to strengthen its capital base.
Ajay Ajmera, Founder and CEO of Ajmera Fashion Limited
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Surat-based ethnic apparel company Ajmera Fashion Limited is preparing to enter the public markets with a proposed SME Initial Public Offering (IPO). The company is expected to file its Draft Red Herring Prospectus (DRHP) between the third and fourth quarters of the financial year 2026–27.
Founded by Ajay Ajmera in 2011, the company has established a presence in the ethnic clothing segment, offering products such as sarees, kurtis, dress materials and ethnic menswear. Its offerings are largely targeted at consumers and retailers in tier II, tier III and rural markets.
The company has expanded its reach through a franchise-based retail model. According to the company, around 220 franchise stores are currently operational across India, while more than 550 franchise tokens have been issued to entrepreneurs and retailers interested in opening outlets.
Ajmera Fashion has also been expanding its overseas presence by exporting its products to international markets.
Financially, the company has reported steady growth. Ajmera Fashion expects its revenue to reach around INR 200 crore in the financial year 2025–26, compared with approximately INR 147 crore in 2024–25. Profit after tax is projected to increase to about INR 10–11 crore from around INR 7 crore in the previous year.
Ahead of the proposed IPO, the company is considering a pre-IPO private placement to strengthen its capital base. The planned investment round is expected to value the company at nearly INR 300 crore, with about 5 percent equity likely to be offered to investors.
The company states that the planned IPO is intended to support its expansion strategy in the Indian textile and apparel market.
Surat-based ethnic apparel company Ajmera Fashion Limited is preparing to enter the public markets with a proposed SME Initial Public Offering (IPO). The company is expected to file its Draft Red Herring Prospectus (DRHP) between the third and fourth quarters of the financial year 2026–27.
Founded by Ajay Ajmera in 2011, the company has established a presence in the ethnic clothing segment, offering products such as sarees, kurtis, dress materials and ethnic menswear. Its offerings are largely targeted at consumers and retailers in tier II, tier III and rural markets.
The company has expanded its reach through a franchise-based retail model. According to the company, around 220 franchise stores are currently operational across India, while more than 550 franchise tokens have been issued to entrepreneurs and retailers interested in opening outlets.
