Proceeds from the IPO, amounting to ₹75 crores, will be used for repaying borrowings and for general corporate purposes.
Mumbai-based Priority Jewels Limited has filed its Draft Red Herring Prospectus with SEBI for an initial public offering. The IPO consists of a fresh issue of up to 54,00,000 equity shares with a face value of ₹10 per share.
The company plans to use ₹75 crores from the proceeds to repay or pre-pay certain borrowings and for general corporate purposes. A pre-IPO placement option is being considered that would reduce the issue size to not exceed 20 per cent of the total offering.
Priority Jewels, established in 2007, designs and manufactures light-weight, affordable diamond-studded gold and platinum fine jewellery. The company operates two manufacturing facilities in India, serving both domestic and export markets.
With over 200 customers across 21 states and three union territories in India, the company has also exported to 13 countries, including the USA, UAE, Hong Kong, and Norway. Its client base includes major jewellery chains such as CaratLane, Kalyan Jewellers, Reliance Retail, and Malabar Gold & Diamonds.
The company’s profit after tax grew from ₹5.37 crore in FY2022 to ₹7.15 crore in FY2024, achieving a CAGR of 15.35 per cent. Its production volume increased from 1,30,031 pieces to 1,72,108 pieces in the same period.
Mefcom Capital Markets Limited is serving as the sole book-running lead manager, and the equity shares are proposed to be listed on the NSE and BSE.
Published on May 2, 2025
