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Priority Jewels IPO: Price Band Set, Opens Aug 28

By Business DeskPriority Jewels IPO: Price Band Set, Opens Aug 28

Priority Jewels Limited announces IPO price band of Rs 190-200. Subscription opens August 28, 2026. Funds for working capital & corporate purposes.

Priority Jewels Limited has set its Initial Public Offering (IPO) price band at Rs 190 to Rs 200 per Equity Share. Subscriptions for the IPO will open on August 28, 2026, and close on September 1, 2026.

IPO Details & Allocation

  • Price Band: Rs 190 to Rs 200 per Equity Share (face value Rs 10)
  • Subscription Dates: August 28, 2026 – September 1, 2026
  • Minimum Bid: 75 Equity Shares
  • Issue Type: Fresh issuance of up to 45,75,000 equity shares
  • Pre-IPO Placement: 8,25,000 Equity Shares at Rs 190, raising Rs 15.67 crore

The net proceeds from the IPO are earmarked for the repayment or pre-payment of specific working capital borrowings. Funds will also be allocated for general corporate purposes, aligning with the company’s strategic financial management.

The book-building process adheres to SEBI ICDR Regulations, ensuring a structured allocation for different investor categories.

  • Qualified Institutional Buyers (QIBs): Not more than 50%
  • Non-Institutional Bidders (NIIs): Not less than 15%
  • Retail Individual Bidders (RIIs): Not less than 35%

Company Profile

Established in 2007, Priority Jewels Limited specializes in designing, manufacturing, and selling lightweight, affordable diamond-studded gold and platinum fine jewellery. The company supplies directly to independent jewellers and major chains across India.

  • Key Indian Customers: CaratLane Trading Private Limited, Kalyan Jewellers India Limited, Reliance Retail Limited
  • Customer Base (June 30, 2026): Over 200 customers
  • Indian Presence: 21 states and 3 union territories
  • Global Exports: To 13 countries
  • Manufacturing Facilities: Two in India

Financial Snapshot

Priority Jewels reported strong financial performance for both the recent quarter and the last fiscal year, indicating significant growth since FY24.

  • Q1 FY27 Revenue (June 30, 2026): Rs 146.72 crore
  • Q1 FY27 Profit After Tax (PAT): Rs 6.47 crore
  • FY26 Revenue: Rs 538.94 crore
  • FY26 Profit After Tax (PAT): Rs 17.64 crore

Mefcom Capital Markets Limited serves as the book-running lead manager for the issue, with MUFG Intime India Private Limited acting as the registrar. The Equity Shares are scheduled for listing on both the BSE and NSE.

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