Priority Jewels IPO opens today at ₹190-200; check key details

Priority Jewels’ ₹91.50-crore IPO opens on August 28 and closes September 1, with a price band of ₹190-200 per share. The company has raised ₹27.45 crore from anchor investors.
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IPO Details

Price band: Rs 190 to Rs 200 per Equity Share of face value Rs. 10/- each for its maiden initial public offer.

IPO Period: The Company will open on Friday, August 28, 2026, for subscription and close on Tuesday, September 1, 2026.

Investment lot: Investors can bid for a minimum of 75 Equity Shares and in multiples of 75 Equity Shares thereafter.

IPO Quota: The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.

IPO size: The total issue size of the Priority Jewels IPO is ₹91.50 crore,

BRLM/Registrar: Mefcom Capital Markets Limited is the book-running lead manager, and MUFG Intime India Private Limited is the registrar of the offer.

Anchor investors: Priority Jewels Limited, which is engaged in designing, manufacturing and sale of a wide range of light-weight, affordable diamond-studded gold and platinum fine jewellery, has garnered Rs 27.45 crore from anchor investors ahead of its initial public offering. The company informed the bourses that it allocated 13,72,500 equity shares at Rs 200 per share to anchor investors. Some of the marquee institutions that participated in the anchor include Whiteoak Capital Equity Fund, Sanshi Fund – I, Plutus Investment Trust – Plutus Equity Investments Series and Khandelwal Finance Private Limited.

Utility of funds: The proceeds from its fresh issuance worth Rs 75 crore will be utilised for repayment / pre-payment, in full or in part, of certain working capital borrowings availed by the company, and general corporate purposes.

Listing: The equity shares are proposed to be listed on the NSE and BSE Limited.

About Priority Jewels: Incorporated in 2007, the company is engaged in designing, manufacturing and sale of a wide range of light-weight, affordable diamond-studded gold and platinum fine jewellery, and it sells directly to independent jewellers and jewellery chains in India as well as select international markets.

The company supplies its products to leading jewellery chains, including CaratLane Trading Private Limited, Kalyan Jewellers India Limited, Reliance Retail Limited, Malabar Gold & Diamonds FZCO, Tribhovandas Bhimji Zaveri Limited and Senco Gold Limited.

Its portfolio primarily comprises daily wear jewellery, including rings, earrings, pendants, neckwear, bracelets and occasion couture jewellery, all of which are developed using contemporary design approaches and modern manufacturing techniques.

As of June 30, 2026, the company has over 200 customers, predominantly in India, including 125 independent jewellers and 53 jewellery chains. Over the years, the company has expanded its market presence across 21 states and 3 union territories and has exported products to 13 countries globally, including the United States of America, UAE, Hong Kong and Norway. Most of the company’s exports are to overseas stores of Indian jewellery chains, primarily catering to the diaspora.

The company’s revenue from operations was Rs 146.7 crore for the June 2026 quarter stood and its net profit of Rs 6.4 crore. The company’s revenue from operations was Rs 538.9 crore in FY26 as against Rs 410.5 crore in FY24. The company’s net profit was Rs 17.6 crore in FY26 as against Rs 7.1 crore in FY24.

Brokers views:

Anand Rathi: At the upper price band, based on FY26 earnings, the issue is valued at 20.5x P/E and 13.9x EV/EBITDA, implying a post-issue market capitalisation of Rs 3,600 million, making the issue fully priced. 

However, the business remains exposed to fluctuations in gold prices, changing consumer preferences and competitive jewellery manufacturing industry. Going forward, capacity expansion, balance sheet deleveraging and diversification into silver jewellery, lab-grown diamond jewellery and high-end jewellery are expected to support growth. The Company is well positioned to benefit from the growingdemand for affordable and designer jewellery. Thus, we assign a “Subscribe for Long Term” rating for the issue

Published on August 28, 2026