On April 30, 2025, Priority Jewels submitted its DRHP to the market regulator SEBI, intending to raise funds through an Initial Public Offering (IPO).
The IPO consists entirely of a fresh issue of 54 lakh shares with no offer-for-sale component.
The proceeds raised from the fresh issue, out of which ₹75 crore will be utilized for the payment and repayment of the existing debt, while the remaining funds will be used for the company’s general corporate usage.
According to the draft papers, as of March 2025, the company has a total debt of ₹147.1 crore.
Priority Jewels was founded in 2007 and is involved in the designing, manufacturing, and selling of a comprehensive range of lightweight, affordable, and diamond-studded gold and platinum fine jewellery. The company is engaged in supplying gold and platinum jewellery directly to independent jewellers and jewellery chains in India, such as CaratLane Trading, Kalyan Jewellers, Malabar Gold & Diamonds, Tribhovandas Bhimji Zaveri, and Senco Gold.
The company consists of over 200 customers in India, 159 independent jewellers, and 35 jewellery chains as of December 2024. Khazanchi Jewellers, RBZ Jewellers, Ashapuri Gold Ornament, and Shringar House of Mangalsutra are the competitors of the priority jewels.
Their manufacturing facilities situated in Mumbai span 19,008 sq ft. and 6,821 sq. ft., which are provided with advanced casting as well as modern CAD/CAM and 3D printing technology, enabling precision manufacturing.
The book-running lead manager of the public issue is Mefcom Capital Markets, while the shares of the company will be going to listed on NSE and BSE.
Priority Jewels IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Priority Jewels Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹403.57 | ₹396.32 | ₹5.37 |
| 2023 | ₹471.42 | ₹465.32 | ₹4.50 |
| 2024 | ₹410.61 | ₹400.97 | ₹7.15 |
| December 2024 | ₹295.57 | ₹284.21 | ₹8.15 |
Priority Jewels IPO Valuation – FY2024
Priority Jewels IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹5.67 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 7.54% |
| Net Asset Value (NAV): | ₹300.90 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Khazanchi Jewellers Ltd | 11.04 | 50.09 | 14.55% | 75.87 | 820.78 Cr. |
| RBZ Jewellers Ltd. | 8.23 | 16.82 | 14.38% | 51.87 | 327.43 Cr. |
| Ashapuri Gold Ornament Ltd. | 0.40 | 17.83 | 11.65% | 3.60 | 165.07 Cr. |
| Shringar House of Mangalsutra Ltd. | 4.39 | NA | 25.65% | 154.34 | 1101.52 Cr. |
Objects of the Issue
- Repayment/pre-payment, in full or in part, of certain borrowings availed by our Company; and
- General corporate purposes.
IPO Lead Managers aka Merchant Bankers
- Mefcom Capital Markets Limited
