Promise vs Delivery
Qualiance International IPO
01 — What did the company promise?
Build new Tiruppur factory
Create 10.8 lakh pieces/year new base capacity
Buy and install machinery
Start commercial production
Use IPO money mainly for new factory
02 — Promise Tracker
| Promise | Expected | Latest evidence | Status |
|---|---|---|---|
| Build new Tiruppur factory | Civil completion proposed January 2027 | RHP schedule; project is still in implementation stage. | Tracking |
| Create 10.8 lakh pieces/year new base capacity | After commissioning | RHP states estimated annual base capacity of 10,80,000 pieces. | Tracking |
| Buy and install machinery | February 2027 | RHP says machinery had not yet been ordered as of 31 Aug 2026. | Tracking |
| Start commercial production | March 2027 | RHP proposed schedule targets commercial operation in March 2027. | Tracking |
| Use IPO money mainly for new factory | As proceeds are deployed | ₹38 Cr is earmarked for the Tiruppur facility. | Tracking |
03 — Important Dates to Remember
Next checkpoint: March 2027 — Did commercial production start?
04 — Track the Results
Before IPO
Sales: ₹76.89 Cr
Profit: ₹11.87 Cr
Cash from business: ₹7.84 Cr
Existing capacity: 4.5 lakh pieces/year
Biggest customer: 56.93% of sales
Switzerland: 80.67% of revenue
Latest result
Too early — the new factory has not reached its first major operating checkpoint.
05 — The most important QuickIPO question
Did investors’ money create a stronger business?
Too early
06 — Key Takeaway
The promise is measurable: build a larger factory and start production around March 2027. QuickIPO will track both whether the project is delivered and whether it eventually creates a stronger business.
Sources
Red Herring Prospectus — 31 Aug 2026 · business, financials, risks, objects · exact page references in evidence bank · Open source ↗
Issue Opening Advertisement — Official price band, issue size and P/E basis · Open source ↗
Company Investor Relations — Official document index · Open source ↗
Subscription snapshot — Exchange-derived snapshot · 4 Sep 2026, 5:00 PM · methodology retained · Open source ↗
GMP snapshot — unofficial — ₹54 on 5 Sep 2026 · unofficial/estimated · Open source ↗