Priority Jewels, a diamond-studded gold and platinum jewellery manufacturer, has fixed the price band for its initial public offering (IPO) at ₹190–₹200 per share, with a face value of ₹10. The subscription window will open on August 28 and close on September 1, according to company announcements.

The IPO consists entirely of a fresh issue of up to 45.75 lakh equity shares, aggregating to ₹91.50 crore. The company has stated that net proceeds will be used for repayment or pre-payment, in full or in part, of certain working capital borrowings, with the balance earmarked for general corporate purposes. Specifically, ₹75 crore has been allocated for debt servicing, as per the draft red herring prospectus (DRHP).

The issue follows the book-building process in compliance with the Securities and Exchange Board of India (Sebi) ICDR Regulations. Allocation will be as follows: not more than 50% for qualified institutional buyers (QIBs), not less than 15% for non-institutional investors (NIIs), and not less than 35% for retail individual investors (RIIs).

Ahead of the IPO, the company completed a pre-IPO placement of 8.25 lakh equity shares at ₹190 per share, raising ₹15.67 crore. As of August 24, 2026, Priority Jewels had 1.34 crore outstanding equity shares.

The equity shares 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, while MUFG Intime India Private Limited has been appointed as the registrar.

Company Overview

Incorporated in 2007, Priority Jewels designs, manufactures, and sells lightweight, affordable diamond-studded gold and platinum jewellery. The company has over 15 years of experience in the jewellery manufacturing industry and operates two manufacturing facilities in India.

Its product portfolio includes daily-wear jewellery such as rings, earrings, pendants, neckwear, and bracelets, as well as occasion and couture jewellery. The company also manufactures lab-grown diamond jewellery based on specific customer orders.

Priority Jewels supplies its products to several prominent retail chains, including CaratLane Trading Private, Kalyan Jewellers India, Reliance Retail, Malabar Gold & Diamonds FZCO, Tribhovandas Bhimji Zaveri, and Senco Gold.

As of June 30, 2026, the company had more than 200 customers, including 125 independent jewellers and 53 jewellery chains. It has a presence across 21 states and three Union Territories, and exports to 13 countries, including the US, UAE, Hong Kong, and Norway.

Financial Performance

For the quarter ended June 30, 2026, Priority Jewels reported revenue from operations of ₹146.72 crore and a profit after tax (PAT) of ₹6.47 crore.

For the fiscal year 2026 (FY26), revenue was ₹538.94 crore, compared with ₹410.50 crore in FY24. PAT grew from ₹7.14 crore in FY24 to ₹17.64 crore in FY26, reflecting a compound annual growth rate (CAGR) of 57.13%.

The quantity of jewellery processed and sold increased from 1,30,031 units in FY22 to 1,72,108 units in FY24, representing a CAGR of 15.05% (or 15.35% as per some calculations).