National News
Priority Jewels files DRHP with SEBI; IPO consists entirely of a fresh issue of 54 lakh
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.
National News
Rajiv Jain Elected Chairman Of Jaipur Jewellery Show
The members expressed their confidence that, under his leadership, JJS will continue to achieve new milestones while further strengthening its position as one of the country’s premier gem and jewellery exhibitions.
The Jaipur Jewellery Show Organising Committee has unanimously elected Rajiv Jain as the Chairman of Jaipur Jewellery Show (JJS). Rajiv Jain is a distinguished industry leader with decades of exemplary service to the gem and jewellery sector and had held many important positions.
A few of the key positions held by him are: Past Chairman, Gems & Jewellery Export Promotion Council (GJEPC), sponsored by the Ministry of Commerce & Industry, Government of India; Chairman, Confederation of Indian Industry (CII), Rajasthan; Founder Chairman, Museum of Gems & Jewellery, Jaipur; and Past Chairman, Indian Institute of Gems & Jewellery, Jaipur (IIGJ Jaipur).
Rajiv Jain succeeds Vimal Chand Surana, who has served as the Chairman of JJS for the past 19 years. Under his visionary leadership, Jaipur Jewellery Show has evolved into one of India’s most respected and successful gem and jewellery exhibitions. In recognition of his distinguished service, exemplary leadership, and invaluable contribution to the growth of JJS, the Organizing Committee has unanimously named him as the Patron of Jaipur Jewellery Show.
Following these appointments, the Executive Committee of Jaipur Jewellery Show (JJS) is constituted as under: Vice Chairman, Dinesh Khatoria; Secretary, Kamal Kothari; Joint Secretary, Ajay Kala; Joint Secretary, Ashok Singhi; and Treasurer, Dr. Nawal Agrawal.
The members conveyed their heartfelt congratulations to Shri Rajiv Jain on his unanimous election as Chairman and expressed their confidence that, under his leadership, Jaipur Jewellery Show will continue to achieve new milestones while further strengthening its position as one of the country’s premier gem and jewellery exhibitions.
The Organizing Committee looks forward to the continued support and active cooperation of all Committee Members and Sub-Committee Members in carrying forward the vision and legacy of Jaipur Jewellery Show.
Rajiv Jain Elected Chairman Of Jaipur Jewellery Show
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