Priority Jewels Limited IPO
ListedMainboardDiamond, Gems and Jewellery
100.45×
Subscribed
Price band
₹200 – ₹200
Lot size
75
1 lot = ₹15,000
Issue size
₹91.5 Cr
Open – close
28 Aug 2026
to 01 Sept 2026
Listing
04 Sept 2026
Listing gain
+15.00%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong5 of 7 dimensions read
The disclosed numbers are strong — 3 of 5 signals read positive
Strength75/100
- Priced in line with peers14.3× earnings against a peer median of 18.3×
- Adequate return on equityROE of 12.7%
- Conservative balance sheetDebt/equity of 0.76×
- Some related-party dealingsRelated-party transactions are 8.9% of revenue
- Institutions bid heavilyQIB portion subscribed 39.87×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens28 Aug 2026
- Closes01 Sept 2026
- Allotment02 Sept 2026
- Listing04 Sept 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB39.87x
Non-institutionalNII / HNI166.49x
Big NIIabove ₹10L152.22x
Small NII₹2L – ₹10L195.04x
Retail individualRII106.76x
20,80,254 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 01 Sept 2026.
Chance of allotment
Retail106.76× subscribed
~1 in 106.8
Minimum 1 lot · 75 shares · ₹15,000 blocked
Retail is 106.76× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 106.8 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII166.49× subscribed
~1 in 166.5
Minimum 14 lots · 1,050 shares · ₹2,10,000 blocked
HNI is 166.49× subscribed. This category is allotted proportionately, so a bid receives roughly 1/166.5 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
Grey market premium
Unofficial dealer quotes — not published by NSE, BSE, SEBI or the company
₹45+22.5%
over the upper band · last seen 08 Sept 2026
What this number is not. Grey-market premium is an unregulated, thinly-traded quote from private dealers. It is not a forecast of the listing price, it is not verifiable, and it can be moved by the same people who benefit from it looking high. We publish it because you will look it up anyway — and we deliberately do not convert it into an expected listing gain, because that arithmetic implies a reliability the number has never earned. For what actually happened to comparable issues, see recent outcomes below.
The offering
Terms, structure and who is selling
Terms
Price band₹200 – ₹200
Face value₹10
Lot size75shares
Minimum application₹15,000at cut-off
Total issue size₹91.5 Cr
Listing atMainboard
Anchor investorsAllotted
Company & valuation
P/E at upper band14.26×
EPS₹10.74pre-issue
EPS₹14.03post-issue
NAV per share₹103.30
Return on equity12.73%
Debt / equity0.76×
Related-party8.91%of revenue
ROCE6.92%
RoNW4.44%
PAT Margin4.39%
EBITDA Margin7.01%
NAV108.59
ISININE15EH01014
RegistrarLINK
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 22,87,500 | — |
| Anchor Investor | 13,72,500 | — |
| QIB (Ex. Anchor) | 9,15,000 | — |
| NII (HNI) | 6,86,250 | — |
| bNII > ₹10L | 4,57,500 | 435.00% |
| sNII < ₹10L | 2,28,750 | 217.00% |
| Retail | 16,01,250 | 21350.00% |
Total issue 45,75,000 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Retail (Min)₹15,0001 lot · 75 sh
Retail (Max)₹1,95,00013 lots · 975 sh
S-HNI (Min)₹2,10,00014 lots · 1,050 sh
S-HNI (Max)₹9,90,00066 lots · 4,950 sh
B-HNI (Min)₹10,05,00067 lots · 5,025 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted13,72,500
Anchor portion₹27.45 Cr
Bid date27 Aug 2026
Lock-in ends (50%)02 Oct 2026
Lock-in ends (rest)01 Dec 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Repayment/pre-payment, in full or in part, of certain working capital borrowings availed by our Company₹75 Cr
- 02General corporate purposes₹18.85 Cr
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Priority Jewels Consolidatedthis issue | 14.03 | 176.48 | 103.30 | 12.73% |
| Khazanchi Jewellers Ltd | 36.10 | 22.24 | 129.13 | 27.98% |
| RBZ Jewellers Ltd | 13.70 | 18.28 | 74.96 | 11.13% |
| Ashapuri Gold Ornament Ltd | 0.56 | 5.00 | 185.64 | — |
Blank cells are figures the offer document does not publish. An unlisted issuer has no market price, so it has no price-based multiple until it lists — which is exactly why the comparison is against companies that already trade. The peer set is the issuer's own selection, so read it as the flattering-est comparison available rather than a neutral one.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumLoss of or reduction in business from top ten customers, who accounted for 53.19% of revenue for the period ended June 30, 2026, could have a significant adverse impact on business and results of operations.
mediumThe non-availability or high cost of gold, diamonds, and other precious and semi-precious metals and stones may have an adverse effect on business, results of operations, financial condition and prospects.
Litigation
1. Our Promoter, Shailesh Sangani, in his capacity as managing director of Priority Jewels Private Limited, received summons dated November 1, 2022, and June 7, 2023, from the Assistant Director, Directorate of Enforcement ("ED") under the provisions of the P
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+6.1%
Listed up
6 of 8
Best
+65.4%
Orient Cables (India) Limited
Worst
-2.3%
Vishal Nirmiti Limited
Fusion CX Limitedsame segment
4.5× sub+5.5%
HD Fire Protect Limitedsame segment
131.7× sub+23.6%
Nityas Gems and Jewellery Limitedsame segment
2.3× sub+6.7%
Vishal Nirmiti Limitedsame segment
1.7× sub-2.3%
Shah Investor's Home Limitedsame segment
38.1× sub+2.4%
Srit India Limitedsame segment
125.2× sub+13.8%
Runwal Enterprises Limitedsame segment
2.5× sub+0.0%
Orient Cables (India) Limitedsame segment
92.3× sub+65.4%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Priority Jewels Limited
Priority Jewels India Limited is engaged in the design, manufacturing and sale of lightweight diamond-studded gold and platinum jewellery. Its product portfolio includes daily-wear jewellery such as rings, earrings, pendants, neckwear, and bracelets, as well as occasion couture jewellery and lab-grown diamond jewellery manufactured against specific customer orders. The company supplies its products to independent jewellers and jewellery chains in India and select international markets, including CaratLane Trading Private Limited, Kalyan Jewellers India Limited, Reliance Retail Limited, Malabar Gold & Diamonds FZCO, Tribhovandas Bhimji Zaveri Limited, and Senco Gold Limited. As of June 30, 2026, it had more than 200 customers, including 125 independent jewellers and 53 jewellery chains, and exported to 13 countries. The company operates two manufacturing facilities in Mumbai, Maharashtra, including an integrated facility in MIDC, Andheri East, and another facility at SEEPZ SEZ. Its manufacturing processes include design, prototyping, casting, polishing, stone setting, and quality control.
Founded 2007MD Mr Shailesh SanganiSector Diamond, Gems and Jewellery
Offer documents
The primary sources everything above is drawn from
Common questions
What is the Priority Jewels Limited IPO GMP today?
The most recent grey-market premium recorded for Priority Jewels Limited is ₹45 per share — about 22.5% over the ₹200 upper band. Grey-market premium is an unofficial, unregulated quote from private dealers. It is not published by NSE, BSE, SEBI or the company, and it is not a forecast of the listing price.
How many times is the Priority Jewels Limited IPO subscribed?
Priority Jewels Limited is subscribed 100.45× overall (QIB 39.87×, NII 166.49×, retail 106.76×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, LINK.
What is the minimum investment in the Priority Jewels Limited IPO?
One lot is 75 shares, so a retail application at the ₹200 cut-off price blocks ₹15,000. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Priority Jewels Limited IPO?
The retail portion is subscribed 106.76×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 107. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Priority Jewels Limited IPO allotment date?
Allotment is scheduled for 2026-09-02, with listing on 2026-09-04. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, LINK.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.