Priority Jewels Limited IPO
LISTEDMAINBOARDPRIORITYSUBSCRIBEListing Performance
▲ 15.00%
Issue Price
₹200
Listing Price
₹230
Listed On
04 Sep 2026
- Price Band
- ₹190 – ₹200
- Lot Size
- 75
- Lot Value
- ₹15,000
- Open Date
- 28 Aug 2026
- Close Date
- 01 Sep 2026
- Min Investment
- ₹15,000
About Priority Jewels Limited
Priority Jewels is engaged in the design, manufacture, and sale of light-weight, affordable diamond-studded gold and platinum fine jewellery. The company primarily operates on a business-to-business (B2B) model, supplying its products directly to independent jewellers and major retail chains across India and in select international markets, including the USA, UAE, and Hong Kong. Its product portfolio is centered on daily wear pieces such as rings, earrings, pendants, and bracelets, and also includes an occasion-based couture line. The company’s revenue is generated from the direct sale of its finished jewellery products. With two manufacturing facilities in Mumbai, the business leverages modern design and production technologies like CAD/CAM and 3D printing to create a diverse range of customized and ready-to-sell products for its customers.
Manufactures and sells diamond-studded gold and platinum fine jewellery, primarily to independent jewellers and jewellery chains.
Use of IPO Proceeds
Total allocation: ₹75.00 Cr (excludes issue expenses)
Promoters
Shailesh Sangani
Chairman and Managing Director · age 66
See 'Our Management – Brief profiles of our Directors' beginning on page 170 for complete details.
Pre-issue: 36.51%
Manisha Shailesh Sangani
Completed owner/president management program from Harvard Business School and Watch Basics Seniors Program from Fondation de la Haute Horlogerie; received Women Entrepreneurial Leadership Achievement Award at World Women Leadership Congress & Awards in 2015.
Owner/President Management Program from Harvard Business School; Watch Basics Seniors Program from Fondation de la Haute Horlogerie
Pre-issue: 15.87%
Tushar Mehta
Whole-time Director and CFO
Pre-issue: 0.5%
Aditi Karan Motla
Whole-time Director
Pre-issue: 15.87%
Aashna Sangani Parikh
Head of Digital Marketing
Pre-issue: 15.87%
Investment Analysis
Quick Analysis: 5 strengths · 5 risk factors· Exchange: NSE
Strengths (5)
- •Diversified product portfolio supported by design capabilities and a customer-centric approach.
- •Integrated manufacturing facilities and established operational systems.
- •Experienced promoters and an established leadership team.
- •Longstanding relationships with a diverse base of customers.
- •Strong presence across both domestic and international markets.
Risk Factors (5)
- •Significant revenue concentration, with over 53% of revenue from the top ten customers.
- •High dependence on the availability and cost of raw materials like gold and diamonds without long-term supply agreements.
- •Business is concentrated in the single segment of designing, manufacturing, and selling jewellery.
- •A significant portion of revenue is dependent on customers located in the state of Maharashtra.
- •Failure to register jewellery designs exposes the company to risks of duplication and copyright infringement litigation
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
▲ Listed +15.0%Strong investor demand with 70x subscription suggests positive listing momentum. GMP indicates market expects a listing premium.
Pre-listing prediction: SUBSCRIBE
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 75 | ₹15,000 |
| Retail (max) | 13 | 975 | ₹1,95,000 |
| S-HNI (min) | 14 | 1,050 | ₹2,10,000 |
| S-HNI (max) | 66 | 4,950 | ₹9,90,000 |
| B-HNI (min) | 67 | 5,025 | ₹10,05,000 |
Subscription Status
| Category | Day 1 | Day 3 | Day 4 | Day 5 |
|---|---|---|---|---|
| QIB | 0.44x | 30.18x | 0.60x | 30.18x |
| sNII (S-HNI) | 1.21x | 140.93x | 45.49x | 140.92x |
| bNII (B-HNI) | 0.69x | 117.08x | 24.85x | 117.08x |
| Retail | 2.11x | 69.55x | 30.35x | 69.52x |
| Total | 1.37x | 70.19x | 22.15x | 70.18x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
69.52x
Allotment Ratio
1 lot per 70 applicants
Allotment Probability
~1.4%
Non-Institutional Investors (NII / HNI)
Subscription
125.03x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
30.18x
Allotment Type
Discretionary allotment
Total Subscription
70.18x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
IPO Timeline
Issue Opens
28 Aug 2026 · Fri
Issue Closes
01 Sep 2026 · Tue
UPI Deadline
01 Sep 2026 · Tue
Allotment
01 Sep 2026 · Tue
Refund
03 Sep 2026 · Thu
Share Credit
03 Sep 2026 · Thu
Listing
04 Sep 2026 · Fri
Issue Opens
28 Aug 2026 · Fri
Issue Closes
01 Sep 2026 · Tue
UPI Deadline
01 Sep 2026 · Tue
Allotment
01 Sep 2026 · Tue
Refund
03 Sep 2026 · Thu
Share Credit
03 Sep 2026 · Thu
Listing
04 Sep 2026 · Fri
IPO Details
| Registrar | MUFG Intime India Private Limited |
| Exchange | NSE |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹92.00 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Mefcom Capital Markets Limited |
3-Year Financial Summary
Revenue trend
↓ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 295.42 | 8.15 | 5.67 | — | 7.35% |
| FY24 | 410.51 | 7.15 | — | — | — |
| FY23 | 470.85 | 4.5 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Income | 471.42 | 410.61 | 295.57 |
| EBITDA | 15.4 | 19.35 | 18.23 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
35.3x
Price ÷ EPS
EPS (FY25)
₹6
Earnings per share
RoNW
7.35%
Return on net worth
ROCE
17.47%
as reported in filing
EBITDA margin
6.2%
EBITDA ÷ revenue
Price/NAV
0.66x
Price ÷ NAV (as reported)
Company Fundamentals
10 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | ₹0.32 Cr |
| Paid-up Capital | ₹0.32 Cr |
| Equity Shares (Pre-Issue) | — |
| Equity Shares (Post-Issue) | — |
Source: Priority Jewels Limited offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Priority Jewels Limited's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Priority Jewels Limited's filing.
Source: Priority Jewels Limited offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
No offer-for-sale component (or sellers not disclosed).
Source: Priority Jewels Limited offer document (DRHP/RHP).
Board & Management
Board of Directors (6)
- Shailesh Sangani₹0.05 Cr p.a.
Chairman and Managing Director
Bachelor's degree in commerce, cleared bachelor's of law from University of Mumbai
More than 32 years in gems & jewellery industry
- Tushar Mehta₹0.02 Cr p.a.
Whole-time Director and Chief Financial Officer
Bachelor's degree in commerce from University of Mumbai
More than 28 years in gems & jewellery industry specializing in financial management
- Aditi Karan Motla₹0.01 Cr p.a.
Whole-time Director
Bachelor's degree in management studies from University of Mumbai, diploma in diamond graduate from International Gemmological Institute, diploma in applied jewellery arts from Gemmological Institute of America, certification in basic jewellery making from Indian Institute of Gems & Jewellery
More than 15 years in gems & jewellery industry, associated with company since 2010
- Nirupa Kiran Bhatt
Independent Director
Bachelor's degree in science from University of Mumbai
18 years with GIA India Laboratory Private Limited and Rio Tinto Diamonds, 15 years as manager of Rio Tinto Diamonds India representative office in Mumbai
- Nagarajan Subramanian
Independent Director
Bachelor's degree in engineering from University of Madras, post graduate diploma in management from Indian Institute of Management Ahmedabad
Associated with En Theos Consulting, previously with Titan Industries Limited and The Walt Disney Company (India) Private Limited as country director for Disney consumer products
- Kamal Ratilal Bhansali
Independent Director
Did not complete formal degree programme
Around 25 years as founder-director of Core Jewellery Private Limited, previously associated with Goldiam International Limited as director
Key Managerial Personnel (5)
- Tushar Mehta₹0.02 Cr p.a.
Chief Financial Officer
Bachelor's degree in commerce from University of Mumbai
More than 28 years in gems & jewellery industry specializing in financial management
- Aakriti Bhushan
Company Secretary and Compliance Officer
Bachelor's degree in commerce from Deen Dayal Upadhyaya Gorakhpur University, associate of Institute of Company Secretaries of India
Previously associated with Shahi & Associates Chartered Accountants and Triveni Glass Limited
- Upen Shah₹0.02 Cr p.a.
EVP – Strategy and Finance
Bachelor's degree in commerce from University of Mumbai, qualified Chartered Accountant from Institute of Chartered Accountants of India
Over 25 years in gems & jewellery industry, joined company September 1, 2015
- Aashna Sangani Parikh₹0.01 Cr p.a.
Head of Digital Marketing
Bachelor's degree in arts and bachelor of laws from University of Mumbai
Over 5 years in gems & jewellery industry, joined October 1, 2020
- Saurabh Laddha₹0.03 Cr p.a.
Chief Accounting Officer
Bachelor's degree in commerce from University of Mumbai, cleared Company Secretary course of Institute of Company Secretaries of India, qualified Chartered Accountant from Institute of Chartered Accountants of India
Over 8 years in gems & jewellery industry, joined December 12, 2020
Source: Priority Jewels Limited offer document (DRHP/RHP).
Industry & Market
Per CARE Analytics and Advisory Private Limited, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Khazanchi Jewellers Ltd | 50.09 | — | — | — |
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Statutory | Promoters | 2 | — |
| Tax | Company | 2 | 0.384 |
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:MUFG Intime India Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the Priority Jewels Limited IPO opening?
The Priority Jewels Limited IPO opens on 28 Aug 2026 and closes on 01 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Priority Jewels Limited IPO?
The price band for the Priority Jewels Limited IPO is ₹190 to ₹200. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Priority Jewels Limited IPO?
The minimum lot size is 75 shares with a minimum investment of ₹15,000. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Priority Jewels Limited IPO today?
The latest Grey Market Premium for Priority Jewels Limited is ₹31 (+15.50%). GMP is unofficial data and is not a guarantee of listing price.
When will the Priority Jewels Limited IPO list on NSE and BSE?
The Priority Jewels Limited IPO is expected to list on 04 Sep 2026 on NSE. Actual listing day trading begins at the start of the normal market session.
How can I check the Priority Jewels Limited IPO allotment status?
The registrar for this IPO is MUFG Intime India Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Priority Jewels Limited IPO a mainboard or SME issue?
Priority Jewels Limited is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the Priority Jewels Limited IPO?
You can apply for the Priority Jewels Limited IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
What is the expected listing price of Priority Jewels Limited IPO?
Based on the current GMP of ₹31, the expected listing price of Priority Jewels Limited is ₹231 (issue price ₹200 + GMP ₹31). Note that GMP is unofficial grey market data and actual listing price may differ.
What is the allotment ratio for Priority Jewels Limited IPO?
Based on the retail subscription of 69.52x, the estimated allotment ratio is 1 lot per 70 applicants (approximately 1.4% chance of allotment). This is an estimate and actual allotment may vary.
Should I subscribe to Priority Jewels Limited IPO?
Based on our algorithmic analysis, Priority Jewels Limited IPO is rated SUBSCRIBE with high confidence. Strong investor demand with 70x subscription suggests positive listing momentum. GMP indicates market expects a listing premium. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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