Priority Jewels has announced the price band for its upcoming initial public offerings (IPOs). The company has set the price band at ₹190- ₹200 per share with a face value of ₹10.
The Priority Jewels IPO is a book-built issue comprising a fresh issue of ₹91.50 crore, aggregating to 45,75,000 shares. The IPO will open for subscription on August 28 and remain open until September 1.
The company intends to utilise ₹75 crore from the fresh issue proceeds towards the full or partial repayment/pre-payment of certain borrowings, with the balance earmarked for general corporate purposes.
Under the Priority Jewels IPO, up to 50% of the net offer is reserved for qualified institutional buyers (QIBs), while at least 15% and 35% of the net offer will be allocated to non-institutional investors (NIIs) and retail individual bidders, respectively.
The equity shares of Priority Jewels are proposed to be listed on both the BSE and the National Stock Exchange of India (NSE).
Mefcom Capital Markets Limited is the sole book-running lead manager for the issue, while MUFG Intime India Private Limited has been appointed as the registrar. The company’s equity shares are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited.
About the company
Priority Jewels designs, manufactures and sells a diverse range of lightweight and affordable diamond-studded gold and platinum jewellery. Established in 2007, the company has more than 15 years of experience in the jewellery manufacturing industry.
Its product range mainly includes daily-wear jewellery such as rings, earrings, pendants, neckwear and bracelets, along with occasion and couture jewellery. According to the company’s DRHP, its portfolio focuses on lightweight, affordable and everyday jewellery designed to appeal to a broad customer base across India.
Priority Jewels supplies its jewellery to several prominent chains, including CaratLane Trading Private, Kalyan Jewellers India, Reliance Retail, Malabar Gold & Diamonds FZCO, Tribhovandas Bhimji Zaveri and Senco Gold.
The company operates two jewellery manufacturing facilities in India, which serve both its domestic and export markets.
Priority Jewels’ profit after tax (PAT) rose from ₹5.37 crore in Fiscal 2022 to ₹7.15 crore in Fiscal 2024, representing a CAGR of 15.35%. During the same period, the quantity of jewellery processed and sold increased from 1,30,031 units to 1,72,108 units, translating into a CAGR of 15.05%.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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