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.