National News
Forevermark Strengthens India Retail Network With Bengaluru Debut
The Bengaluru launch takes Forevermark Diamond Jewellery’s retail network in India to eight stores. The company is targeting a network of 20 stores across the country by the end of 2026
Forevermark Diamond Jewellery, the retail brand from De Beers Group, has expanded into South India with the opening of its first store in Bengaluru. Located at Phoenix Mall of Asia, the new boutique marks the brand’s entry into one of India’s key luxury consumption markets.
The Bengaluru launch takes Forevermark Diamond Jewellery’s retail network in India to eight stores. The company is targeting a network of 20 stores across the country by the end of 2026 as it continues to expand its presence in high-potential markets.
The new boutique offers Forevermark’s portfolio of natural diamond jewellery, including the Icon, Avaanti and Millemoi collections. Customers can also explore solitaire, bridal and high jewellery pieces.
The store introduces the brand’s Endless Aisle concept to India for the first time. The interactive digital feature allows shoppers to browse a wider selection of Forevermark collections beyond the products displayed within the physical store.
Commenting on the launch, Mallikarjuna Reddy Yarabolu, Managing Director, Forevermark, De Beers India Pvt. Ltd., said,

“The opening of our Bengaluru store marks an important step for Forevermark Diamond Jewellery as we strengthen our presence in South India and bring our exceptional natural diamond jewellery and personalised retail experience closer to discerning consumers in the region. Since launching our retail journey in September 2025, we have expanded to eight stores across India & strengthened our ecommerce platform, reflecting the strong consumer response to our brand and collections.
The Bengaluru store further reinforces our commitment to growth in key markets, and we remain on track to expand our network to 20 stores by the end of this year. We are delighted to bring the Forevermark experience to the city and look forward to being part of our customers’ most cherished milestones through our collection of beautifully crafted natural diamond jewellery.”
The brand has also introduced launch benefits for its first 50 customers, including purchase vouchers and an additional 5% value on gold exchange for one month. The store also offers the Moment Plan, a savings programme that enables customers to pay in 10 monthly instalments, with Forevermark contributing the 11th instalment.
The Bengaluru store reflects Forevermark’s focus on combining physical retail with digital tools and personalised shopping experiences. The expansion comes as luxury jewellery consumption continues to grow in India’s major urban markets, supported by rising purchasing power and increasing consumer interest in branded natural diamond jewellery.
With its entry into Bengaluru, Forevermark Diamond Jewellery has strengthened its presence in South India and added another key market to its growing retail network. The company plans to continue expanding its store presence across India as it works towards its target of 20 outlets by the end of 2026.
National News
Priority Jewels IPO Subscribed 100.45 Times At Close
Issue Attracts Over 32.16 Crore Bids, With NII Subscription Reaching 166.49 Times
Priority Jewels’ IPO witnessed strong investor demand, with the issue subscribed 100.45 times at the close of bidding on 1 September 2026. The company received bids for 32,16,91,275 shares, compared with 32,02,500 shares on offer.
The Qualified Institutional Buyers (QIB) portion was subscribed 39.87 times, while the Non-Institutional Investors (NII) category recorded a subscription of 166.49 times. The Retail Individual Investors (RII) segment was subscribed 106.76 times.
The IPO opened for subscription on 28 August 2026, with a price band of Rs 190–Rs 200 per share.
The issue comprises a fresh issue of 45.75 lakh equity shares, aggregating up to Rs 91.5 crore. Of the proceeds, around Rs 75 crore will be used for repayment/prepayment of working capital borrowings, with the balance earmarked for general corporate purposes.
Ahead of the public issue, Priority Jewels raised Rs 27.45 crore from anchor investors on 27 August. The company’s board allotted 13.72 lakh shares at Rs 200 per share to four anchor investors.
Lightweight jewellery remains core focus
Priority Jewels designs, manufactures and sells lightweight, affordable diamond-studded gold and platinum jewellery. Its portfolio includes rings, earrings, pendants, neckwear and bracelets, along with occasion and couture jewellery.
The company supplies jewellery to leading retail players including CaratLane, Kalyan Jewellers India, Reliance Retail, Malabar Gold & Diamonds, Tribhovandas Bhimji Zaveri and Senco Gold. It also manufactures lab-grown diamond jewellery based on specific customer orders.
The company has a manufacturing capacity of approximately 700 kg annually, with capacity utilisation at 65% in FY26 and 58% in Q1 FY27.
During Q1 FY27, domestic sales accounted for 50.44% of revenue, while exports contributed 49.56%, reflecting the company’s balanced domestic and international business.
For the quarter ended 30 June 2026, Priority Jewels reported consolidated net profit of Rs 6.69 crore and sales of Rs 146.73 crore.
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