The Rs 91.50 crore IPO of Mumbai-based Priority Jewels opened for subscription on Aug. 28 and closes on Sept. 1. Ahead of the issue, the latest grey market premium (GMP) stood at Rs 37, indicating an estimated listing gain of nearly 18.50%.
Note: Grey market premiums are unofficial and may not accurately reflect the stock's actual listing performance.
Investors considering the Priority Jewels IPO should keep these key details in mind before subscribing.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Priority Jewels IPO GMP Today
The GMP for Priority Jewels IPO stood at Rs 37 on Aug. 28 at 8:30 a.m. With the upper price band of Rs 200, the IPO's estimated listing price is Rs 237 (cap price + GMP). This implies a potential listing premium of 18.50% over the IPO's upper price band.
Priority Jewels IPO Day 1 Subscription Status
The public offer was subscribed 0.74 imes overall as of 11:50 a.m. on Friday. Detailed category-wise subscription figures include:
- Qualified Institutional Buyers (QIBs): NIL
- Non-Institutional Investors (NIIs): 0.37 times
- Retail Individual Investors (RIIs): 1.33 times
Priority Jewels IPO: Key Details
The IPO of Priority Jewels is a book build issue of Rs 91.50 crore. The issue is entirely a fresh issue of 46 lakh shares of Rs 91.50 crore. Mefcom Capital Markets Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
Priority Jewels IPO Key Dates
- Bidding window opens: Aug. 28
- Bidding window closes: Sep. 1
- Allotment finalisation: Sep. 2
- Refund initiation: Sep. 3
- Credit of Shares to Demat accounts: Sep. 3
- Listing date: Sep. 4
Use Of Proceeds
Of the IPO proceeds, Rs 75 crore will be used for the repayment or prepayment, in full or in part, of certain borrowings. The remaining proceeds will be used for general corporate purposes.
Company Financials
Priority Jewels reported strong financial growth in FY26, with total income rising 24% and profit after tax increasing 68% year-on-year.
For FY26, Priority Jewels reported:
- Total income: Rs 539.03 crore, compared with Rs 435.87 crore in FY25
- Profit after tax (PAT): Rs 17.65 crore, up from Rs 10.51 crore in the previous financial year
- EBITDA: Rs 33.62 crore versus Rs 24.28 crore a year earlier
About Priority Jewels Ltd.
Incorporated in 2007, Priority Jewels designs, manufactures, and sells diamond-studded gold and platinum fine jewellery. It offers a variety of daily wear jewellery products, like rings, earrings, pendants, neckware, bracelets, and occasion couture jewellery.
The company sells products to independent jewellers and jewellery chains in India and globally, like CaratLane Trading Pvt Ltd, Kalyan Jewellers, Reliance Retail, Malabar Gold & Diamonds, Thribhovandas Bhimji Zaveri Ltd, and Senco Gold Ltd.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
