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Priority Jewels files DRHP with SEBI; IPO consists entirely of a fresh issue of 54 lakh

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On April 30, 2025, Priority Jewels submitted its DRHP to the market regulator SEBI, intending to raise funds through an Initial Public Offering (IPO).

Priority Jewels Limited, a Mumbai-based gold and diamond jewellery company, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO) of up to 54,00,000 equity shares of face value ₹10 each.

The proceeds from the IPO will be used to fund working capital requirements, invest in technology upgradation, and expand manufacturing facilities. The company also proposed to utilise Rs. 75 crore of the net proceeds to repay part of its debt, which stands at a total of Rs. 147.1 crore.

According to the DRHP, the company reported a profit after tax of Rs. 7.14 crore on revenue of Rs.410.5 crore in FY24. The same year, the company reported domestic sales of Rs. 236.7 crore and export sales of Rs. 173.7 crore. The IPO consists entirely of a fresh issue of 54 lakh shares with no offer-for-sale component.

The proceeds raised from the fresh issue, out of which ₹75 crore will be utilized for the payment and repayment of the existing debt, while the remaining funds will be used for the company’s general corporate usage.

The retail quota is 35%, QIB is 50%, and HNI is 15% as per DRHP. The IPO to list on NSE and BSE.

Priority Jewels was founded in 2007 and is involved in the designing, manufacturing, and selling of a comprehensive range of lightweight, affordable, and diamond-studded gold and platinum fine jewellery. The company is engaged in supplying gold and platinum jewellery directly to independent jewellers and jewellery chains in India, such as CaratLane Trading, Kalyan Jewellers, Malabar Gold & Diamonds, Tribhovandas Bhimji Zaveri, and Senco Gold.

Priority Jewels was originally incorporated in 2007 as a private limited company and recently converted into a public company in February 2025. The promoters include Shailesh Sangani, Manisha Sangani, Tushar Mehta, Aditi Karan Motla, Aashna Sangani Parikh, and Priority Retail Ventures Pvt. Ltd.

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National News

Bhima Gold Unveils Ashtalakshmi Coin Collection for Akshaya Tritiya, Blending Devotion with Exquisite Design

A culturally rooted, insight-led launch that reimagines festive gold buying through storytelling, symbolism, and spiritual relevance.

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In a move that blends cultural storytelling with product innovation, Bhima Gold has unveiled its Ashtalakshmi Coin Collection for Akshaya Tritiya – positioning gold not just as a purchase, but as a deeply symbolic expression of prosperity, faith, and intent.

Timed with one of India’s most significant gold-buying occasions, Akshaya Tritiya, the launch reflects a deeper cultural shift in consumer behaviour. While the festival continues to drive strong purchase intent, there is a growing preference for meaningful, purpose-led buying experiences over purely transactional consumption.

Aligned with this evolving mindset, the Ashtalakshmi coin collection has been thoughtfully conceptualised to blend tradition with deeper symbolism. Inspired by the eight sacred forms of Goddess Lakshmi, each coin represents a distinct dimension of prosperity—from wealth and nourishment to courage, knowledge, and continuity.

By bringing together Adi Lakshmi, Dhana Lakshmi, Dhanya Lakshmi, Gaja Lakshmi, Santana Lakshmi, Veera Lakshmi, Vijaya Lakshmi and Vidya Lakshmi, the collection reframes gold coins from being a generic festive purchase to a story-driven, culturally immersive product experience – one that resonates across generations and belief systems.

This launch also aligns with Bhima Gold’s larger centenary narrative of “Together Purever,” which focuses on legacy, shared traditions, and evolving consumer meaning. The collection becomes an extension of that philosophy – reinforcing how heritage brands are reinterpreting tradition for a more aware and emotionally driven consumer.

Customers can pre-book their favourite jewellery by paying just 10% in advance & get their jewellery on Akshaya Tritiya at the lowest rate, which gives customers more flexibility and helps them plan their purchases with greater confidence, especially at a time when gold prices are high.

Akshaya Tritiya has traditionally been associated with intention, belief, and the aspiration for prosperity, extending beyond a purely transactional act of buying gold. The Ashtalakshmi Coin Collection has been conceptualised to reflect this deeper cultural and spiritual significance, with each coin designed to carry a distinct meaning and sense of purpose. The initiative also aligns with evolving consumer preferences, where there is a noticeable shift towards jewellery that offers emotional, cultural, and spiritual resonance in addition to intrinsic value.

With gold prices near record highs and consumer sentiment becoming more considered, Bhima’s Ashtalakshmi Coin Collection signals a broader shift in the category — from price-led promotions to meaning-led engagement, where design, storytelling, and cultural relevance drive both differentiation and demand.

As legacy brands navigate a new era of conscious consumption, Bhima Gold’s latest offering highlights how tradition can be reimagined as experience, making gold buying not just an act of investment, but an expression of identity and belief.

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