Qualiance International Ltd.

The company's product portfolio includes military uniforms, tactical outerwear, high-visibility workwear, weather-resistant and all-weather outerwear, police and border patrol uniforms, protective workwear, and performance activewear. It operates a manufacturing facility in Tiruppur, Tamil Nadu, with an installed capacity of 450,000 garment pieces per annum, supporting cut-and-sew operations along with specialized processes like seam sealing, bonded construction, ultrasonic welding, laser cutting, and lamination. It manufactures both knitted and woven garments to customer specifications.

The company primarily serves government, institutional, and brand clients across Europe and North America, with exports contributing 98.82% of FY26 revenue from operations. It holds certifications including ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO 14064-1:2018, SA 8000, GOTS, and GRS, along with SEDEX SMETA audit compliance, and carries Two Star Export House status from the Government of India. As of June 30, 2026, the company had 255 payroll employees, supplemented by contractual labour as needed.

Cited competitive strengths include a strong export-focused business model, wide international market reach, an experienced promoter and management team, integrated expertise in high-performance technical garments, specialized manufacturing capabilities, multiple international quality/safety/sustainability certifications, a skilled workforce, and an in-house facility backed by quality control.

The ₹45.11 Cr book-built SME IPO (listing on NSE SME) is entirely a fresh issue of 35.52 lakh shares, with no offer-for-sale component. The price band is ₹120–₹127 per share, with a lot size of 1,000 shares (minimum application 2 lots / 2,000 shares). Net proceeds are earmarked for capital expenditure toward a new manufacturing facility in Tiruppur, Tamil Nadu (₹38.00 Cr), with the balance toward general corporate purposes — though the stated objects total doesn't fully reconcile with the net fresh issue size (see Issue Details flag).

At the upper price band, the IPO is priced at a post-issue P/E of 14.4x (pre-issue: 10.59x) and a Price-to-Book multiple of 5.08x based on FY26 NAV of ₹24.99. RoNW rose sharply to 47.98% for FY26 from 35.44% in FY25. Revenue grew 47% and PAT grew 142% year-on-year between FY25 and FY26, with Debt/Equity easing from 2.15 to 1.15 over the same period. Promoter shareholding will fall from 86.49% pre-issue to 63.66% post-issue, reflecting the fully fresh-issue nature of the offer (no OFS from promoters).