Gujarat-based Nityas Gems and Jewellery launches its Rs 108 crore IPO on September 30, with a price band set at Rs 70-75 per share. The company plans to use most of the proceeds to fund working capital needs. Investors will watch the company’s ability to sustain its rapid financial growth following the listing.
Nityas Gems and Jewellery has announced the launch of its mainboard initial public offering (IPO), with the subscription window set to open on September 30, 2026. The Gujarat-based diamond jewellery manufacturer has fixed its price band between Rs 70 and Rs 75 per equity share. The offering is entirely a fresh issue of 1.44 crore shares, through which the company aims to raise approximately Rs 108.42 crore.
IPO Schedule and Allocation
Prospective anchor investors are scheduled to bid on September 29, 2026. Following this, the public subscription period will remain open from September 30 to October 5. Once the bidding concludes, the company will finalize the allotment process by October 6. The shares are expected to be listed on national stock exchanges on October 8, 2026. Choice Capital Advisors has been appointed as the book-running lead manager for this issue.
Business Model and Use of Proceeds
The company operates a dual-model jewellery business. It functions primarily as a manufacturer and supplier in the business-to-business (B2B) space, providing diamond-studded gold jewellery to retail and wholesale chains. It also has a presence in the direct-to-consumer (B2C) segment through its subsidiary, Ayaani Diamonds and Jewellery, which follows an omnichannel retail strategy.
The firm intends to allocate approximately Rs 70 crore from the net proceeds of the IPO toward working capital requirements. In the jewellery industry, a large portion of capital is typically locked in inventory, including gold and precious stones. Consequently, maintaining sufficient working capital is critical for operations and supporting scale. The remaining funds are earmarked for general corporate purposes.
Financial Performance and Growth
Recent financial filings reveal a period of rapid expansion for the company. For the fiscal year ending in March 2026, the company reported a net profit of Rs 22.8 crore, a significant increase from Rs 9.8 crore in the previous fiscal year. Revenue also showed strong growth, rising to Rs 202.9 crore in FY26, up from Rs 96.8 crore in FY25. Based on the upper price band of Rs 75 per share, the company is seeking a post-issue valuation of approximately Rs 432 crore.
As the company moves to the public market, investors will likely track whether it can maintain this growth pace. The jewellery sector is highly competitive and capital-intensive, with demand often sensitive to fluctuations in gold prices and consumer spending patterns. Key monitorables for investors will include the company’s ability to manage its inventory effectively, maintain its profit margins amidst price volatility, and successfully execute the expansion plans supported by the new working capital infusion.