Priority Jewels prices shares at ₹190-₹200, seeks ₹91.5cr through IPO
Priority Jewels is gearing up for its IPO, pricing shares between ₹190 and ₹200 per share.
The company hopes to raise ₹91.5 crore, with subscriptions open from August 28 to September 1, 2026.
Out of 45.75 lakh shares on offer, up to 50% are reserved for qualified institutional buyers (QIBs), while retail investors get 35%.
Most of the money, ₹75 crore, is set aside for the full or partial repayment/pre-payment of certain borrowings; the rest will go toward general business needs.
Priority Jewels processed volumes 15.05% CAGR
Founded in 2007, Priority Jewels makes lightweight diamond-studded gold and platinum jewelry for both everyday wear and special occasions.
You might recognize their clients: CaratLane, Kalyan Jewellers, and Reliance Retail.
The company's profits jumped from ₹5.37 crore in fiscal 2022 to ₹7.15 crore in fiscal 2024, with the quantity of jewelry processed and sold growing at a 15.05% CAGR from fiscal 2022 to fiscal 2024.