Business · India Bureau
Priority Jewels to launch IPO at ₹190-200 price band next week
Jewellery manufacturer Priority Jewels Ltd has set its IPO price band at ₹190-200 per share, with public subscription commencing on August 28. The three-day offering will see anchor investor bidding take place on August 27, followed by public issue closure on September 1.
LSN India ·
Priority Jewels Ltd, a designer and manufacturer of lightweight diamond-studded gold and platinum jewellery, is preparing to raise ₹86.93 crore to ₹91.50 crore through its public offering. The IPO comprises a fresh issue of up to 45.75 lakh equity shares at the announced price band, with the company's post-issue implied market capitalisation estimated at around ₹360 crore at the upper end of the band.
Qualified institutional buyers have been allocated 50 per cent of the offer size, while non-institutional investors will receive 15 per cent of shares reserved under the public issue. The remaining allocation follows standard IPO distribution norms for retail investors.
The Mumbai-based company, incorporated in 2007, operates across the full spectrum of jewellery retail—from design and manufacturing to direct sale to consumers. Priority Jewels said it will utilise the IPO proceeds for debt repayment and other general corporate purposes, strengthening its balance sheet ahead of further expansion.
The public offering represents a significant capital raise for the mid-sized jewellery manufacturer, coming at a time when India's jewellery sector continues to demonstrate resilience and growth potential.