Priority Jewels IPO: Mumbai’s jewelery company priority jules have planned to raise money through IPO to reduce debt. The company filed draft papers near SEBI on 30 April for this. Only 54 lakh new shares will be issued in the IPO. There will be no offer for sale. Piratis makes jeweles, diamond studded gold and platinum fine jewelery. The company sells gold and platinum ornaments directly to independent jewelers and jewelery chains in India. These include Carelane Trading, Kalyan Jewelers, Malabar Gold and Diamonds, Tribhuvandas Bhimji Javeri and Senco Gold.
As of December 2024, there were more than 200 customers of priority jeweles. These mainly include India’s 159 independent jewelers and 35 jewelery chains. The company’s listed competitions include names like treasurer Jewelers, RBZ Jewelers, Ashapuri Gold Ornament and Shringar House of Mangalsutra.
How to use IPO money
The company will use Rs 75 crore out of the money received from its IPO to repay the loan. The remaining money will be used for general corporate purposes. The Point Jules have said in the draft papers that by March 2025, the company had a total of Rs 147.1 crore. Mefcom Capital Markets is a book running lead manager for this IPO. After the IPO is closed, the company shares will be listed on BSE and NSE.
