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IPO ·
NSE, BSE
Nityas Gems & Jewellery Ltd
Listed
Surat-based designer and maker of lab-grown-diamond studded gold jewellery, selling B2B and via a D2C retail arm.
Issue details
Price band
₹70 – ₹75
Face value
₹5
Lot size
200 shares
Minimum investment
₹15,000
Issue size
₹108.35 Cr
Fresh issue
₹108.35 Cr
Offer for sale
—
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
30 Sep 2026
Closes
5 Oct 2026
UPI mandate cut-off
5:00 PM on 5 Oct 2026
Allotment
6 Oct 2026
Refunds
7 Oct 2026
Shares in demat
7 Oct 2026
Listing
8 Oct 2026
Subscription and listing
Subscription
2.26x
Listing price
₹80
Registrar
Bigshare Services Pvt Ltd
Lead manager
Choice Capital Advisors Pvt Ltd
Subscription by category
QIB (Ex Anchor)
1.06x
NII
2.05x
bNII (> ₹10L)
1.56x
sNII (< ₹10L)
3.02x
Retail
4.07x
Employee
2.82x
Total
2.26x
Total applications
83,192
Listing day
Issue price
₹75
Open
₹80.00
High
₹84.00
Low
₹77.00
Day close
₹83.99
Listing gain at open
+6.67%
Issue structure
Shares reserved per category and share of the total issue
QIB
71,78,000
49.65%
NII
21,53,400
14.90%
bNII > ₹10L
14,35,600
9.93%
sNII < ₹10L
7,17,800
4.97%
Retail
50,24,600
34.76%
Employee
1,00,000
0.69%
Total
1,44,56,000
100.00%
Finaccle’s quick read
Apply
Total income up 110% and PAT up 128% in FY26 with RoNW of 43.75%, debt/equity of 0.29 and a post-issue P/E of 19.38 on an all-fresh issue; the short operating history is the main caveat.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Nityas Gems & Jewellery makes and sells gold jewellery set with lab-grown diamonds from its manufacturing unit in Surat, Gujarat. It sells B2B to jewellery brands such as GIVA and Palmonas across 18 states, 2 UTs and five export markets, and reaches retail buyers through its subsidiary Ayaani, which runs 10 stores in eight cities. The company had 192 full-time staff as of August 2026.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
43.75% (RoNW)
ROCE
42.93%
Debt / equity
0.29
PAT margin
11.00%
P/E post issue
19.38
Market cap
₹431.95 Cr
Use of IPO money
Working capital requirements
₹70.00 Cr
General corporate purposes
₹21.47 Cr
Issue expenses
₹16.88 Cr
Strengths
✓
Income and profit more than doubled in FY26
✓
Low debt with debt/equity of 0.29
✓
In-house design and manufacturing in Surat
✓
Mix of B2B brand clients and own D2C retail stores
✓
Entirely fresh issue, no OFS
Risks to watch
!
Young company, operating only since July 2022
!
Profit rose sharply in the two years before the IPO
!
Depends on demand for lab-grown diamonds, a newer category
!
Promoter stake falls to 43.51% after the issue
!
Large working capital needs in jewellery manufacturing
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.