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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

52-Week Range
Valuation
Financials (FY2022-23)
Investment Thesis
Apollo Fashion International Limited is a Bengaluru-based unlisted apparel company incorporated in 2000 with a current grey market price of ₹55. The company has limited public disclosures, making thorough due diligence challenging. Investors should exercise caution and verify operational and financial details before investing.
Pros
Cons
Business Segments
Leather Footwear Manufacturing
B2B manufacturing of premium leather footwear for global fashion brands; 800K+ annual capacity.
Leather Outerwear & Accessories
Manufacturing of leather outerwear (600K+), bags (350K+), and belts (700K+) for international fashion clients.
Revenue Model
Retail sales margin on fashion products through store-based and potentially online retail channels.
Detailed Analysis
Growth Plans
India's expanding middle class driving sustained fashion retail demand
Growth of organized retail and e-commerce creating new distribution channels
Potential listing on BSE SME or NSE Emerge to raise growth capital
Industry Tailwinds
India's expanding middle class driving sustained fashion retail demand
Recent Developments
India's apparel market growing at 10% CAGR with Bengaluru remaining one of the top fashion retail consumption cities.
2024Comparable Companies
Frequently Asked Questions
About Apollo Fashion International
Apollo Fashion International Limited is a Bengaluru, Karnataka-based fashion retail and apparel company incorporated in 2000. The company operates in India's large and growing fashion and clothing retail sector, serving consumers in Bengaluru and potentially pan-India markets. Bengaluru is one of India's most dynamic retail markets — a city of approximately 13 million people with significant disposable income driven by India's largest IT sector concentration. The city hosts a large young professional workforce with above-average fashion consciousness and spending on apparel and lifestyle products. Bengaluru has been a hub for both domestic and international fashion retail expansion in India. India's apparel market is estimated at over Rs 5.5 lakh crore, growing at approximately 10% annually, driven by a rising middle class, urbanisation, growing formal fashion adoption, and the influence of social media on fashion choices. E-commerce has transformed fashion retail, with platforms like Myntra, Meesho, and Ajio driving significant online fashion penetration. Apollo Fashion International has been operating since 2000, with 24+ years of experience navigating India's evolving fashion retail landscape — from traditional standalone retail to the current omnichannel era. The company's Bengaluru base provides access to both the city's tech-savvy consumer base and India's largest garment manufacturing cluster.
Key Milestones
Incorporated 2000 in Karnataka (CIN: U18101KA2000PLC027168) as part of Apollo International Group
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You enquire
Takes 2 minutes
We source & quote
Typically within 1 business day
You accept the allocation
Quote valid for 3 days
You transfer the funds
Pay within 2 days of accepting
Shares reach your demat
Usually credited within 2–3 business days
Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Growth of organized retail and e-commerce creating new distribution channels
Potential listing on BSE SME or NSE Emerge to raise growth capital
Industry Headwinds
Intensifying competition from domestic and international fashion retailers
Shifts in consumer preference towards fast fashion and online-only brands
Economic slowdowns reducing discretionary consumer spending
Fashion retail facing significant disruption from e-commerce platforms
Source: AlphaHub Research
Limited public financial disclosures available
Source: Media Reports / Public Records
Highly competitive sector dominated by Reliance Retail, Tata Trent, Raymond, and global fast-fashion brands entering India
Absence of publicly available financial statements and website makes investor due diligence difficult
Rapidly changing fashion trends and increasing shift to e-commerce require constant adaptation and investment
Unlisted share market is illiquid; exit at fair value may be challenging for investors
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Built into leading B2B leather fashion manufacturer for global brands
Revenue grew from Rs.123 Cr (FY21) to Rs.210 Cr (FY23) — 71% growth