Priority Jewels IPO Oversubscribed by 1.93 Times

Priority Jewels' Initial Public Offering (IPO) has garnered significant attention, with subscription figures reaching 1.93 times by 17:00 IST on August 28, 2026. Bids were received for 61,76,325 shares against the 32,02,500 shares available. The offering, which opened on August 28, 2026, and will conclude on September 1, 2026, has set a price band between Rs 190 and Rs 200 per share.

The IPO includes a fresh issue of 45,75,000 equity shares, targeting a total of Rs 91.5 crore. A substantial portion, Rs 75 crore, is earmarked for the repayment or pre-payment of working capital borrowings, with the remainder allocated for general corporate purposes. Prior to this, on August 27, 2026, Priority Jewels successfully raised Rs 27.45 crore from four anchor investors, who were allotted 13.72 lakh shares at Rs 200 each.

Priority Jewels specializes in designing, manufacturing, and selling a diverse range of diamond-studded gold and platinum fine jewelry. The company serves independent jewelers and retail chains across India, as well as select international markets. Its product line focuses on lightweight, affordable daily wear, alongside occasion and couture pieces. The company also produces lab-grown diamond jewelry on custom orders.

In the first quarter of FY27, domestic sales accounted for 50.44% of revenue, with exports at 49.56%. The company reported a consolidated net profit of Rs 6.69 crore and sales of Rs 146.73 crore for the quarter ended June 30, 2026. Its manufacturing capacity stands at approximately 700 kg annually.