Priority Jewels sets IPO price band at ₹190-200/share; issue to open on Aug 28

Priority Jewels Ltd is set to launch its Initial Public Offering (IPO) on August 28, with shares priced between Rs 190 and Rs 200 per share. The three-day public issue will conclude on September 1, while anchor investor bidding will occur on August 27. The IPO will offer up to 45.75 lakh equity shares, with a total value ranging from Rs 86.93 crore to Rs 91.50 crore at the lower and upper ends of the price band, respectively.

At the upper price band, the company's post-IPO market capitalization is projected at approximately Rs 360 crore. The funds raised from the public issue will be utilized for debt repayment and general corporate purposes. Founded in 2007, Priority Jewels specializes in designing, manufacturing, and selling lightweight, diamond-encrusted gold and platinum jewelry.

Qualified institutional buyers (QIBs) have been allocated 50% of the offer, 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. The shares are scheduled to be listed on both the BSE and NSE on September 4. Mefcom Capital Markets serves as the book-running lead manager, while MUFG Intime India acts as the registrar for the issue.