Jewels Fixes IPO Price Band At ₹190-200 Per Share, Issue To Open On August 28
New Delhi: Priority Jewels Ltd is gearing up to launch its Initial Public Offering (IPO) on August 28, with a price band of Rs 190-200 per share. The three-day public issue will close on September 1, while bidding by anchor investors will take place on August 27, according to an announcement by the company. The IPO comprises a fresh issue of up to 45.75 lakh equity shares, aggregating to Rs 86.93…
New Delhi: Priority Jewels Ltd is set to launch its Initial Public Offering (IPO) on August 28, offering shares priced between Rs 190-200 each. The three-day public issue will conclude on September 1, with anchor investor bidding scheduled for August 27. The IPO allocation consists of up to 45.75 lakh equity shares, worth Rs 86.93 crore at the lower price band and up to Rs 91.50 crore at the upper band.
The company's post-IPO market capitalization is estimated around Rs 360 crore at the higher end. The funds raised will be utilized for debt repayment and general corporate objectives. Established in 2007, Priority Jewels specializes in designing, manufacturing, and selling lightweight diamond-studded gold and platinum jewelry. Qualified institutional buyers (QIBs) have been given 50% of the offer, 15% reserved for Non-Institutional Investors (NIIs), and the remaining 35% allocated for retail investors.
The shares are expected to trade on both BSE and NSE starting September 4. Mefcom Capital Markets serves as the book-running lead manager, while MUFG Intime India acts as the registrar for the issue.
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- Priority Jewels sets IPO price band at ₹190-200/share; issue to open on Aug 28 thehindubusinessline.com
