Priority Jewels IPO - Listing Performance & Details

Priority Jewels Limited was incorporated in 2007 and is headquartered in Mumbai, Maharashtra. It works in the gems and jewellery sector, designing, manufacturing and selling diamond-studded gold and platinum fine jewellery.

The company handles the full process from design conceptualisation to manufacturing, with a focus on lightweight, affordable daily-wear jewellery including rings, earrings, pendants, neckware and bracelets, alongside occasion couture jewellery. It operates on a B2B model, supplying independent jewellers and large retail chains rather than selling directly to consumers. As of December 2024, it served over 200 customers, comprising 159 independent jewellers and 35 jewellery chains including CaratLane, Kalyan Jewellers, Reliance Retail, Malabar Gold & Diamonds, Tribhovandas Bhimji Zaveri and Senco Gold, across 21 Indian states, three union territories and 13 countries including the US, UAE, Hong Kong and Norway. The promoters are Shailesh Sangani, Manisha Shailesh Sangani, Tushar Mehta, Aditi Karan Motla, Aashna Sangani Parikh and Priority Retail Ventures Private Limited.

Revenue rose to Rs 410.5 crore in FY24, comprising domestic sales of Rs 236.7 crore and export sales of Rs 173.7 crore, with profit after tax rising from Rs 5.37 crore in FY22 to Rs 7.14 crore in FY24, as per the DRHP filed on April 30, 2025. The IPO is a mainboard book-built issue on the NSE and BSE, structured entirely as a fresh issue of up to 54,00,000 equity shares of face value Rs 10 each, with no offer for sale. Net proceeds are proposed to be used for repayment or prepayment of debt (about Rs 75 crore out of total borrowings of Rs 147.1 crore), funding working capital requirements, technology upgradation, expansion of manufacturing facilities, and general corporate purposes.