Priority Jewels Shares List With 15% Premium On NSE, IPO Investors Gain Up To Rs 30 Per Share

Priority Jewels shares listed at Rs 230 per share on the NSE, a 15 per cent premium over the issue price of Rs 200.

On the BSE, the stock debuted at Rs 225.20, up Rs 25.20 or 12.60 per cent from the IPO price.

Priority Jewels’ market capitalisation rose to Rs 405.36 crore post listing, up from Rs 360 crore at the IPO price, adding around Rs 45.36 crore to its valuation.

The Rs 91.50 crore Priority Jewels IPO was open for subscription from August 28 to September 1. The issue was entirely a fresh issue of 4.57 million shares.

The IPO received strong investor demand and was subscribed 100.45 times overall. The retail investor portion was subscribed 106.76 times, while the qualified institutional buyers' quota received 39.87 times subscription. The non-institutional investor portion was subscribed 166.49 times.

The company had fixed the IPO price at Rs 200 per share, against a price band of Rs 190-200. The minimum application size was 75 shares, requiring a retail investment of Rs 15,000.

Priority Jewels designs, manufactures and sells diamond-studded gold and platinum jewellery. Its products include rings, earrings, pendants, bracelets and other jewellery for daily wear and special occasions.

The company supplies jewellery to independent jewellers and jewellery chains, including CaratLane Trading, Kalyan Jewellers, Reliance Retail, Malabar Gold & Diamonds, Tribhovandas Bhimji Zaveri and Senco Gold.

Priority Jewels’ revenue rose to Rs 539.03 crore in FY26 from Rs 435.87 crore in FY25 and Rs 410.61 crore in FY24, a 31 per cent rise in two years. Profit after tax rose to Rs 17.65 crore in FY26 from Rs 10.51 crore in FY25 and Rs 7.15 crore in FY24. Profit more than doubled during the period, rising 147 per cent. Earnings before interest, tax, depreciation, and amortisation (Ebitda) increased to Rs 33.62 crore in FY26 from Rs 24.28 crore in FY25 and Rs 19.35 crore in FY24.

Debt fell to Rs 102.59 crore in FY26 from Rs 145.85 crore in FY25, but remained below the Rs 124.96 crore recorded in FY24.

The company plans to use a large part of the IPO proceeds to repay or prepay borrowings. It has allocated Rs 75 crore for this purpose and Rs 18.85 crore for general corporate purposes.