National News
Gold discounts in India widened this week to their highest point in nearly eight months
Gold discounts in India widened this week to their highest point in nearly eight months, as a surge in prices to a record high dampened demand, while customers in other key hubs also remained on the sidelines. Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6 per cent import and 3 per cent sales levies, up from a discount of $10 to $21 last week.
Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6% import and 3% sales levies, up from a discount of $10 to $21 last week.
“Jewellers are not keen on building high-cost inventory at the end of the financial year, as they are busy closing accounts,” said a Mumbai-based dealer with a bullion-importing bank. India’s financial year runs from April until March 31.
India’s gold imports are set to tumble 85% in February from year-ago levels, reaching their lowest levels in 20 years, as demand is dampened by record-high bullion prices.
In China, the world’s largest consumer, gold traded at a discount of $1 to an $18 premium over spot prices. Meanwhile, dealers in Hong Kong charged premiums ranging from par to $2 per ounce.In Japan, bullion was sold between a discount of $3 and a premium of $0.5, a trader said. In Singapore, gold traded between a $0.50 discount and a $3 premium
National News
Priority Jewels Raises ₹15.67 Crore in Pre-IPO Placement; Invictus Continuum Fund I Leads Investment
Mumbai-based diamond-studded jewellery maker allots 8.25 lakh shares at ₹190 each ahead of BSE and NSE listing
Mumbai-headquartered Priority Jewels Ltd., a manufacturer of diamond-studded gold and platinum fine jewellery, has successfully completed its pre-IPO placement, raising approximately Rs.15.67 crore.
The company, in consultation with its book running lead manager, issued 8,25,000 equity shares at ₹190 per share, including a premium of Rs.180 per share.
Among the key participants was Invictus Continuum Fund I, which was allotted 1,00,000 equity shares on 14 February 2026, aggregating to Rs.1.9 crore. Cheay Investments Private Limitedand Plutus Equity Investment Serviceswere each allotted 50,000 equity shares at Rs.190 per share, amounting to Rs.95 lakh each. The placement also saw participation from Maple Leaf Trading and Servicesalong with 18 other investors.
Priority Jewels designs, manufactures and supplies a diverse range of lightweight and affordable diamond-studded jewellery in gold and platinum. Its portfolio spans everyday wear — including rings, earrings, pendants, neckwear and bracelets — as well as contemporary occasion couture jewellery crafted using modern design and manufacturing techniques.
The company caters to leading organised retail chains such as CaratLane Trading Private Limited, Kalyan Jewellers India Limited, Reliance Retail Limited, Malabar Gold and Diamonds FZCO, Tribhovandas Bhimji Zaveri Limited and Senco Gold Limited, in addition to serving independent jewellers across India and select international markets.
According to a report by CARE Ratings, the company’s blend of craftsmanship and innovation has enabled it to build long-standing relationships with major retail jewellery players, reinforcing its position as a trusted supplier.
Mefcom Capital Markets will act as the book running lead manager for the IPO. The company plans to list its equity shares on both BSE and NSE.
Priority Jewels Raises ₹15.67 Crore in Pre-IPO Placement; Invictus Continuum Fund I Leads Investment
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