Nityas Gems & Jewellery IPO opens: Should you apply? Check price band, reviews, fresh GMP & more

Nityas Gems & Jewellery is set to launch its initial public offering (IPO) on Wednesday, September 30. The jewellery company shall be offering its shares in the range of Rs 70-75 apiece and investors can apply for a minimum of 200 equity shares and multiples thereafter. The issue will close for subscription on Monday, October 05.

Nityas Gems & Jewellery is eyeing to raise a total of Rs 108 crore from its maiden stake sale which is entirely a fresh share sale of 1,44,56,000 equity shares. The net proceeds from the issue shall be utilized towards the funding of working capital requirements and generate corporate purposes.

Incorporated in 2022, Surat-based Nityas Gems & Jewellery is engaged in the design, manufacturing and sale of lab-grown diamond studded gold jewellery in India. It operates through an integrated business model comprising B2B manufacturing and distribution to organised retailers, standalone retailers and wholesalers, along with direct-to-consumer (D2C) omnichannel retail operations.

Brokerage firms are positive on Nityas Gems & Jewellery IPO as it benefits from strong revenue growth, expanding margins, healthy return ratios and rising demand for lab-grown diamond jewellery. Its exports and acquisition of Ayaani Diamonds have strengthened its B2B and D2C presence, along with diversified retail and distribution network with growing demand.

BP Equities is positive on the issues and suggested to 'subscribe' to the issue, considering Nitya Gems & Jewellery's robust revenue momentum, expanding margin profile, sound return ratios, and growing consumer adoption of lab-grown diamonds, the current valuation multiples leave room for sustained earnings growth.

Nityas Gems & Jewellery reported a net profit at Rs 22.32 crore with a revenue of Rs 203.33 crore for the financial year ended on March 31, 2026. The company clocked a net profit at Rs 9.79 crore with a revenue of Rs 96.85 crore for the fiscal year 2024-25. Its EBITDA margins stood at 15.27 per cent and PAT margins stood at 11 per cent for FY26.

Nityas Gems & Jewellery operates across the B2B and D2C segments. Its presence across organised retail, standalone retailers, wholesalers and its own D2C platform provides exposure to the growing demand for affordable, lightweight and lab-grown diamond jewellery in India. Investors may consider the IPO as a potential long-term investment opportunity, said Master Capital Services.

Nityas Gems & Jewellery has reserved 50 per cent shares for qualified institutional bidders (QIBs), while non-institutional investors will have 15 per cent equity shares. Retail investors will have 35 per cent equity shares allocated towards them. At the current valuations, the company is commanding a market capitalization little more than 430 crore.

Nityas Gems & Jewellery exports to the UAE, Australia, Canada, Taiwan and Kenya, from its Surat facility. In 2025, it acquired Ayaani Diamonds and Jewellery, a D2C brand with 10 retail stores across 8 cities, adding a consumer-facing omnichannel platform to its B2B operations. Its operating model combines B2B manufacturing with a newly added D2C vertical via Ayaani, said Ventura with a 'subscribe' rating.

Ahead of IPO, Nityas Gems & Jewellery is commanding a grey market premium of Rs 5-6 apeice, suggesting a listing gains of 6-8 per cent for the investors. Choice Capital Advisors is the sole book running lead manager and Bigshare Services is the registrar of the issue. Shares of the company shall be listed on both NSE Ltd and BSE Ltd on Thursday, October 08.