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â‚ą75 - 75Day cells show that day's addition; Now is the running total. Amounts at the upper price band.
Nityas Gems & Jewellery Ltd
Diamond, Gems and JewelleryIPO
â‚ą75 - 75
We are engaged in the design, manufacturing and sale of lab-grown diamond studded gold jewellery in India, operating through an integrated business model comprising (i) business-to-business ("B2B") manufacturing and distribution to organized retailers, standalone retailers and wholesalers, to support their inventory and design requirements; and (ii) direct-to-consumer ("D2C") omnichannel retail operations through our subsidiary, Ayaani Diamonds and Jewellery Private Limited ("Ayaani"). Our operations span multiple stages of the jewellery value chain, including procurement and management of raw materials, product design, manufacturing, quality control, distribution, branded retail and direct-to-consumer sales.
Lot200Min Investâ‚ą15,000Face Valueâ‚ą5Issue Sizeâ‚ą108 CrFresh Issueâ‚ą108 CrListing Priceâ‚ą82CMPâ‚ą77
Timeline
30 Sept
Bidding opens
5 Oct
Bidding closes
6 Oct
Allotment
7 Oct
Refund & demat credit
8 Oct
Listing
Subscription · As of 8:06 PM, 5 Oct
Demand by day
CategoryDay 1Day 2Day 3Day 4Day 6Now+0.00x+0.38x+0.00x+0.00x+0.68x1.06x+0.11x+0.16x+0.00x+0.00x+1.78x2.05x+0.52x+0.79x+0.00x+0.00x+2.73x4.04xOverall+0.20x+0.49x+0.00x+0.00x+1.56x2.25x
Shares & amount
CategorySubscriptionShares OfferedShares BidAmt â‚ą CrQIB1.06x66.99 L70.71 L53.03NII2.05x20.10 L41.18 L30.88Retail4.04x46.90 L1.90 Cr142.20Total2.25x1.45 Cr3.25 Cr227.68
Reports
Offer Details
Terms
Issue Sizeâ‚ą108 Cr1.45 Cr shares
Fresh Issueâ‚ą108 Cr
Face Valueâ‚ą5
Lot Size200 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retailâ‚ą15,0001-13 lots
sNIIâ‚ą2,10,000from 14 lots
bNIIâ‚ą10,05,000from 67 lots
Managers & Registrar
Lead ManagerChoice Capital Advisors Private Limited
RegistrarBigshare Services Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group58.1%43.51%Public41.9%56.49%
Objects of the Issue
- Funding Working Capital requirements of the Company
- General Corporate Purpose
Anchor Book
Bid Date29-Sep-202630-day lock-in04-Nov-202690-day lock-in03-Jan-2027
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 12 | 54 | 97 | 203 |
| Operating ProfitCr | 0 | 5 | 13 | 31 |
| OPM% | 4.2 | 10.2 | 13.3 | 15.1 |
| PBTCr | 0 | 5 | 12 | 27 |
| PATCr | 0 | 4 | 10 | 22 |
| EPS | 0 | 2 | 4 | 6 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 1 | 1 | 1 | 22 |
| ReservesCr | 0 | 4 | 20 | 41 |
| BorrowingsCr | 1 | 4 | 8 | 23 |
| Total AssetsCr | 6 | 12 | 40 | 116 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | -1 | -1 | -10 | -15 |
| Investing Cash FlowCr | -1 | -1 | 0 | -2 |
| Financing Cash FlowCr | 2 | 2 | 11 | 17 |
| Net Cash FlowCr | 0 | 0 | 0 | 0 |
Strengths & Risks
Strengths · as stated in the DRHP
- Integrated and scalable business model.
- Expanding customer base and market reach.
- Design-Led manufacturing with strong product portfolio and supported by in-house karigars.
- Presence in a high-growth lab-grown diamond jewellery segment.
- Strong Financial Performance with Improving Margins.
Strategies · as stated in the DRHP
- Enhance and broaden our customer base across segments.
- Continue to focus on the domestic market while evaluating selective export opportunities.
- Increase our participation in our marketing and industry engagement initiatives.
- Augment working capital resources to support business operations.
- Strengthen design-led product innovation and expand our product portfolio.
- Expand and strengthen our D2C omnichannel presence under the "Ayaani" brand.
Risks · as stated in the DRHP
- The company's revenue from operations is significantly concentrated among a limited number of B2B customers. During the six-month period ended September 30, 2025 and Fiscal 2025, Fiscal 2024 and Fiscal 2023, our top 10 customers contributed 61.08%, 76.68%, 84.24% and 97.17% of its revenue from operations, respectively. Any reduction in business from such customers or inability to diversify the company's customer base may materially and adversely affect the company's business, financial condition, results of operations, cash flows and prospects.
- A substantial portion of the company's revenue from operations is derived from a limited number of states in India, particularly Gujarat, Karnataka, Telangana, Tamil Nadu and Maharashtra, which together contributed Rs.728.39 million, Rs.897.85 million, Rs.506.63 million and Rs.115.46 million, aggregating to 82.27%, 92.72%, 94.44% and 98.96% of its revenue from operations during the six-month period ended September 30, 2025 and Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. Any adverse developments in these regions could materially and adversely affect the company's business, financial condition, results of operations, cash flows and prospects.
- The company's business is dependent on the availability and price of lab-grown diamonds and gold bullion, which together constituted 88.82%, 88.38%, 95.14% and 99.26% of its total raw material purchases during the six-month period ended September 30, 2025 and Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. Any volatility in the prices or disruption in the supply of such materials could materially and adversely affect its business, results of operations, financial condition and cash flows.
- The company's purchases are significantly concentrated among a limited number of suppliers, with its top 10 suppliers contributing 90.66%, 94.31%, 87.05% and 82.19% of our total purchases during the sixmonth period ended September 30, 2025 and Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. Any disruption in supply or adverse changes in terms from such suppliers could materially and adversely affect its business, results of operations, financial condition and cash flows.
- The company's manufacturing operations are concentrated at a single facility in Surat, Gujarat, and any disruption in operations, failures of machinery, or inability to maintain quality standards could materially and adversely affect its business, financial condition, results of operations and prospects.
- The company's business is working capital intensive, and the company's working capital requirements have increased from Rs.12.42 million in Fiscal 2023 to Rs.461.77 million as of September 30, 2025. The company intend to utilise a portion of the Net Proceeds towards funding our working capital requirements. Any inability to fund or efficiently manage its working capital could materially and adversely affect its business, financial condition, results of operations and cash flows.