Pushpa Jewellers IPO, Day 1: Check GMP, Subscription, Offer Size, Price Band And More

Jewellery wholesaler Pushpa Jewellers Ltd. launched its initial public offering on Monday to raise almost Rs 100 crore from the primary market. Investors who are interested in bidding for shares in this NSE SME IPO can check the following details before applying for shares. 

The Pushpa Jewellers IPO is a book-building issue worth Rs 98.65 crore. It comprises a fresh issue of 53.7 lakh shares, amounting to Rs 78.94 crore, and an offer-for-sale of 13.41 lakh shares, aimed at raising Rs 19.71 crore.

The price band for the IPO has been fixed in the range of Rs 143 to Rs 147 per share.

Retail investors can participate in the IPO by bidding for a single lot size of 1,000 shares, requiring an investment of Rs 1,43,000. High Net-Worth Individuals can participate in the IPO by bidding for at least two lots of 2,000 shares, amounting to an investment of Rs 2,94,000.

Retail investors will be offered 33.24% of the net issue and 47.49% of the shares are reserved for the Qualified Institutional Buyers. Non-Institutional Investors have been allocated 14.26% of the net issue.  

Affinity Global Capital Market Pvt. is the book-running lead manager of the Pushpa Jewellers IPO. Cameo Corporate Services Ltd. is the registrar and Sunflower Broking Pvt. is the market maker for the issue. 

Investors can bid for shares in the IPO until July 2. The IPO share allotment status is expected to be finalised on July 3. The company will transfer shares to the Demat accounts of successful bidders on July 4 and refunds for non-allottees will be processed on the same day. 

Shares of Pushpa Jewellers are proposed to be listed on the NSE SME platform on July 7. 

The Pushpa Jewellers IPO has been subscribed 0.00 times as of 10:54 a.m. on Monday.

• Qualified Institutions: nil

• Non-Institutional Buyers: nil

• Retail Investors: 0.01 times

*The subscription status will be updated at regular intervals

According to InvestorGain, the grey market premium for the Pushpa Jewellers IPO was nil as of 10:30 a.m. on June 30. This indicates a flat listing for the IPO.

Note: GMP does not represent official data and is based on speculation.

The Kolkata-based company is a jewellery manufacturer with specialisation in traditional and modern gold jewellery. In the B2B segment, the jeweller supplies its products to various domestic jewellery retailers and exports to international markets like Dubai, the United States and Australia.

Use Of Proceeds

The company will use proceeds from the IPO to meet working capital expenses, establish new showrooms and for general corporate purposes.

Financials

The company reported a 64.1% year-on-year increase in profit after tax to Rs 22.29 crore in FY25 from Rs 13.58 crore in FY24. Total revenue rose 10.1% YoY to Rs 281.27 crore in FY25 from Rs 255.49 crore in the preceding fiscal.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.