Fashion’s Race to the Indian Stock Market

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The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

From high-growth garment exporters to billion-dollar jewellers, Indian companies are gearing up for IPOs even as global economic uncertainty and market volatility threaten to delay some listings.

RSB Retail India, whose portfolio includes menswear brand De Royal, filed for an IPO in late 2025.

Menswear brand De Royal’s parent company RSB Retail India filed for an IPO in late 2025. (De Royal)

At Dalal Street, India’s financial hub and home to the historic Bombay Stock Exchange, investors are coming face-to-face with the fashion industry’s quirks as a wave of companies enters the IPO market.

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