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Priority Jewels Ltd.’s IPO Sees Robust Demand,Bidding Reached 46.73x

Priority Jewels Set The Price Band For The Offering At ₹190 To ₹200 Per Share.

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Priority Jewels Ltd.’s initial public offering drew robust demand on its final day of bidding Tuesday, capping a strong multi-day subscription run driven by heightened investor appetite.

The retail jewelry company’s public issue, which opened on Friday, Aug. 28, closed to public orders after seeing subscription figures accelerate sharply through its final session. Overall bidding reached 46.73 times the shares on offer by the close of the book-building process, according to exchange data, after sitting at 21.23 times coverage at the end of its second day.

Priority Jewels set the price band for the offering at Rs 190 to Rs 200 per share.

Unofficial trading activity pointed to expectations of a firm debut on the public exchanges. The stock’s grey market premium—an informal indicator of investor sentiment ahead of an official listing—stood at Rs 45 per share on the final bidding day. At the upper end of the price band, the grey market valuation implies a potential listing price of Rs 245 per share, representing a 22.5% premium over the issue price.

Over the past nine sessions, gray market trading for the issue ranged from parity to its high of Rs 45, reflecting steady upward momentum leading into the final hours of the order book.

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National News

Chandukaka Saraf: 200 Years Of Legacy, Trust and The Evolution Of Jewellery

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Few businesses have the privilege of celebrating a journey spanning two centuries. For Chandukaka Saraf, this milestone is not a celebration of longevity; it is a celebration of the generations of customers, employees, artisans, partners and communities who shaped the journey.

Established in 1827 in Baramati, Chandukaka Saraf began as a family enterprise and has grown into a jewellery brand with 19 stores across Maharashtra and Karnataka. The brand is looking to add another five to seven stores in the current calendar year. More than 1,000 employees contribute to the organisation’s journey.

Legacy Built Across Generations

From Late Shri Bhaichandji Shah, whose commitment to purity and excellence laid the foundation, to Late Shri Jyotichandji Shah and Late Shri Chandulalji Shah, who strengthened customer relationships and expanded the business, and Late Shri Jindattaji Chandulal Shah, who played a pivotal role in business growth, employee welfare and ethical practices—the family journey has been one of continuity and evolution. Today, Chairman Shri Kishorkumar Jindatta Shah and Managing Director Mr. Samyak Kishorkumar Shah are leading the next phase.

For Chairman Shri Kishorkumar Shah, the 200-year milestone is deeply personal. It represents generations of trust and responsibility.

When Customers Changed, Jewellery Changed Too

Over two centuries, India has undergone significant social and economic transformation, and jewellery has evolved alongside it. Traditionally associated with weddings, festivals and major family occasions, jewellery today has become increasingly connected to personal expression.

Customers are choosing jewellery to celebrate first salaries, professional milestones, birthdays, anniversaries and personal achievements. Traditional gold continues to hold emotional significance, while diamonds, gemstones, silver and lightweight designs have become part of modern wardrobes.

This evolution can be seen in heritage jewellery, where traditional craftsmanship and motifs are being interpreted through contemporary designs. Today’s customer wants the reassurance of heritage while also seeking individuality, versatility and convenience.

For Chandukaka Saraf, understanding this shift means serving both customers who value tradition and younger consumers with new expectations.

Samyak Shah, Managing Director, Chandukaka Saraf.

“Our responsibility is to nurture and cherish both tradition and modernity.”

“Our role is to understand and serve both, while continuously evolving without compromising the trust that defines Chandukaka Saraf.”

When Technology Became Part of Trust

While designs have changed, some things have remained constant: purity, craftsmanship, transparency and trust.

Chandukaka Saraf has adopted technology and new practices to strengthen customer confidence. Long before hallmarking became a formal industry standard, the brand introduced its own hallmark as a representation of its commitment to purity and authenticity. It was also among the early pioneers in introducing Karatmeters at its stores, enabling customers to check gold purity through technology.

From Baramati to the Future

From Baramati to 19 stores across Maharashtra and Karnataka, the brand has expanded while retaining its connection with its roots. With five to seven new stores planned in the year, the brand is preparing to take its legacy into newer markets.

In the evolving jewellery in Maharashtra landscape, the opportunity lies in combining the reassurance of heritage with the expectations of a new generation.

What Changes, and What Remains

A 200-year legacy is a story of evolution—adapting to changing times while preserving the values that endure. It is about understanding what needs to evolve while protecting what should remain constant.

Designs, technology and consumer aspirations will continue to evolve, but the desire to celebrate meaningful moments, give something lasting and create memories will remain.

From Baramati in 1827 to its growing presence today, Chandukaka Saraf continues a story built across generations—where heritage jewellery meets modern aspirations, and changing times are met with an enduring commitment to purity, transparency and trust.

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