Malabar Gold & Diamonds FZCO News, Photo, Video and Current Affairs

Priority Jewels Limited (the “Company”) has fixed the price band of Rs 190/- to Rs 200/- per Equity Share of face value Rs 10/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Issue”) of the Company will open on August 28, 2026, for subscription and close on September 1, 2026. Investors can bid for a minimum of 75 Equity Shares and in multiples of 75 Equity Shares thereafter. Equity Shares outstanding as on date is 1,34,25,000 Equity Shares of face value of Rs 10 each The Issue, with a face value of Rs 10 per Equity Share, comprises a fresh issue of up to 45,75,000 equity shares. The Net Proceeds from its fresh issuance will be utilised for repayment / pre-payment, in full or in part, of certain working capital borrowings availed by the Company, and general corporate purposes. The Issue is being made through the book-building process, in compliance with SEBI ICDR Regulations, wherein not more than 50% of the Issue will be available for allocation to qualified institutional buyers (QIBs), not less than 15% to non-institutional bidders (NIIs), and not less than 35% to retail individual bidders (RIIs). The Company, in consultation with the book-running lead manager (BRLM), has undertaken a Pre-IPO Placement of 8,25,000 Equity Shares at an issue price of ₹ 190 per Equity Share (including a premium of ₹ 180 per Equity Share) aggregating to an amount of ₹ 15.67 crore, by way of a private placement. Incorporated in 2007, the Company is engaged in designing, manufacturing and sale of a wide range of light-weight, affordable diamond-studded gold and platinum fine jewellery, and it sells directly to independent jewellers and jewellery chains in India as well as select international markets. The Company supplies its products to jewellery chains including CaratLane Trading Private Limited, Kalyan Jewellers India Limited, Reliance Retail Limited, Malabar Gold & Diamonds FZCO, Tribhovandas Bhimji Zaveri Limited and Senco Gold Limited. Its ability to blend craftsmanship with innovation has enabled it to establish long-standing relationships with major Indian retail jewellery players, reinforcing its position as a trusted supplier to its customers (Source - CARE Report). Its portfolio primarily comprises daily wear jewellery, including rings, earrings, pendants, neckwear, bracelets and occasion couture jewellery, all of which are developed using contemporary design approaches and modern manufacturing techniques. Its product portfolio is centred on light-weight, affordable, daily wear pieces that are crafted for a wide audience across the country. The Company also manufactures lab-grown diamond jewellery based on specific orders received from its customers. As of June 30, 2026, the Company has over 200 customers, predominantly in India, including 125 independent jewellers and 53 jewellery chains. Over the years, the Company has expanded its market presence across 21 states and 3 union territories and has exported products to 13 countries globally, including the United States of America, UAE, Hong Kong and Norway. Most of the company’s exports are to overseas stores of Indian jewellery chains, primarily catering to the Indian diaspora. The Company has established two jewellery manufacturing facilities in India that cater to its domestic and export sales. The Company's revenue from operations for the quarter ended June 30, 2026 was Rs 146.72 crore and its profit after tax of Rs 6.47 crore for the same period. The Company’s revenue from operations was Rs 538.94 crore in FY26 as against Rs 410.50 crore in FY24. The Company’s profit after tax was Rs 17.64 crore in FY26 as against Rs 7.14 crore in FY24. achieving a CAGR of 57.13%. Mefcom Capital Markets Limited is the book-running lead manager to the Issue and MUFG Intime India Private Limited is the registrar of the Issue. The Equity Shares are proposed to be listed on BSE and NSE.

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