Priority Jewels IPO to open on August 28: Check price band, other key details

Priority Jewels Ltd has fixed the price band for its maiden initial public offering (IPO) at Rs 190-200 per equity share. The issue will open for subscription on Friday, August 28, and close on Tuesday, September 1, 2026.

The face value of each equity share is Rs 10. Investors can bid for a minimum of 75 shares and in multiples of 75 shares thereafter.

The IPO comprises a fresh issue of up to 45.75 lakh equity shares. The company said the net proceeds from the fresh issue will be used for repayment or pre-payment, in full or in part, of certain working capital borrowings and for general corporate purposes.

The issue is being made through the book-building process in compliance with Securities and Exchange Board of India (Sebi) ICDR Regulations. Not more than 50 per cent of the issue will be available for allocation to qualified institutional buyers (QIBs), while not less than 15 per cent will be reserved for non-institutional bidders (NIIs) and not less than 35 per cent for retail individual bidders (RIIs).

Ahead of the IPO, Priority Jewels undertook a pre-IPO placement of 8.25 lakh equity shares at Rs 190 per share. The private placement aggregated to Rs 15.67 crore.

As of August 24, 2026, the company has 1.34 crore outstanding equity shares of face value Rs 10 each.

About Priority Jewels

Incorporated in 2007, Priority Jewels is engaged in the design, manufacturing and sale of lightweight, affordable diamond-studded gold and platinum jewellery. It sells its products directly to independent jewellers and jewellery chains in India and select international markets.

The company supplies jewellery to chains including CaratLane Trading, Kalyan Jewellers India, Reliance Retail, Malabar Gold & Diamonds FZCO, Tribhovandas Bhimji Zaveri and Senco Gold.

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

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

The company operates two jewellery manufacturing facilities in India catering to its domestic and export sales.

Financial performance

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

For FY26, revenue from operations stood at Rs 538.94 crore, compared with Rs 410.50 crore in FY24. PAT increased to Rs 17.64 crore in FY26 from Rs 7.14 crore in FY24.

The company said its PAT recorded a CAGR of 57.13 per cent during the period.

Mefcom Capital Markets Ltd is the book-running lead manager to the issue, while MUFG Intime India Pvt Ltd is the registrar. The equity shares are proposed to be listed on both BSE and NSE.