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Mon, 31 Aug 2026
11:20:05 am
Mon, 31 Aug 2026
11:20:05 am
Rudransh Sangwan
Published at: August 31, 2026, 9:25 AM
Synopsis
Priority Jewels IPO GMP today at ₹45: check IPO price, subscription status, estimated listing price, lot size, financials, valuation, anchor investors, key dates and IPO details.
The Priority Jewels IPO is a ₹91.50 crore book-built issue that opened on August 28, 2026, and will close on September 1, 2026. The IPO is entirely a fresh issue of 45.75 lakh shares, with a price band of ₹190 to ₹200 per share. The lot size is 75 shares, requiring ₹15,000 at the upper price band for one retail lot. The shares are proposed to list on BSE and NSE on September 4, 2026.
The latest Priority Jewels IPO GMP stood at ₹45 on August 31, 2026, at 1:54 PM. At the ₹200 upper price, this indicates an estimated listing price of ₹245 and a potential gain of 22.50%. GMP is unofficial and can change before listing, so it should only be viewed as an indication of grey-market sentiment.
Priority Jewels is raising ₹91.50 crore through a fresh issue of 45.75 lakh shares, with no offer-for-sale component. The issue has reserved 50% for QIBs, 15% for NIIs and 35% for retail investors.
For investors tracking the IPO, the key figures include a ₹190-₹200 price band, 75-share lot size and ₹15,000 minimum retail investment. At the upper price, the company's estimated market capitalisation is ₹360 crore.
| IPO Metric | Details |
|---|---|
| IPO dates | August 28 to September 1, 2026 |
| Price band | ₹190 to ₹200 |
| Issue price | ₹200 |
| Face value | ₹10 |
| Lot size | 75 shares |
| Total issue size | ₹91.50 crore |
| Fresh issue | ₹91.50 crore |
| OFS | Nil |
| Retail minimum investment | ₹15,000 |
| Listing | BSE, NSE |
| Tentative listing date | September 4, 2026 |
| Market cap at upper price | ₹360 crore |
The Priority Jewels IPO was subscribed 21.49 times as of August 31, 2026, at 2:14 PM. Retail investors subscribed 29.05 times, while NII demand reached 31.72 times. QIB subscription excluding anchors stood at 0.57 times.
The issue received bids for 6,88,14,750 shares against 32,02,500 shares available in these categories. Demand has therefore been strongest from NII and retail investors, while QIB participation excluding anchors was still below one time at the latest update.
| Category | Subscription | Shares Offered | Shares Bid For |
|---|---|---|---|
| QIB (Ex Anchor) | 0.57x | 9,15,000 | 5,26,050 |
| NII | 31.72x | 6,86,250 | 2,17,65,150 |
| bNII | 25.77x | 4,57,500 | 1,17,91,650 |
| sNII | 43.60x | 2,28,750 | 99,73,500 |
| Retail | 29.05x | 16,01,250 | 4,65,23,550 |
| Total | 21.49x | 32,02,500 | 6,88,14,750 |
Priority Jewels Limited, incorporated in 2007, designs, manufactures and sells diamond-studded gold and platinum jewellery. Its portfolio includes rings, earrings, pendants, necklaces, bracelets and occasion jewellery, with sales primarily made through independent jewellers and jewellery chains.
Its customers include CaratLane Trading, Kalyan Jewellers, Reliance Retail, Malabar Gold & Diamonds, Tribhovandas Bhimji Zaveri and Senco Gold. As of June 30, 2026, the company had served more than 200 customers, including 125 independent jewellers and 53 jewellery chains. It operates across 21 states and three union territories, exports to 13 countries and has two manufacturing facilities in Mumbai covering 19,008.79 sq. ft.
Priority Jewels reported total income of ₹539.03 crore in FY26, compared with ₹435.87 crore in FY25 and ₹410.61 crore in FY24. PAT rose to ₹17.65 crore from ₹10.51 crore in FY25, while EBITDA increased to ₹33.62 crore from ₹24.28 crore.
Total borrowing fell from ₹145.85 crore in FY24 to ₹102.59 crore in FY26, although it stood at ₹110.49 crore as of June 30, 2026. Net worth also increased to ₹138.61 crore in FY26 from ₹104.89 crore in FY25.
| Financial Metric (₹ Crore) | FY24 | FY25 | FY26 | Jun 30, 2026 |
|---|---|---|---|---|
| Total Income | 410.61 | 435.87 | 539.03 | 147.40 |
| EBITDA | 19.35 | 24.28 | 33.62 | 10.29 |
| PAT | 7.15 | 10.51 | 17.65 | 6.48 |
| Assets | 268.99 | 309.14 | 291.95 | 310.61 |
| Net Worth | 94.78 | 104.89 | 138.61 | 145.66 |
| Total Borrowing | 124.96 | 145.85 | 102.59 | 110.49 |
At the upper issue price of ₹200, Priority Jewels has an estimated post-IPO market capitalisation of ₹360 crore. Post-issue EPS stands at ₹14.39, giving a P/E of 13.90 times, compared with 15.21 times before the IPO.
For FY26, ROE was 14.49% and ROCE was 25.36%. EBITDA margin stood at 6.24%, PAT margin at 3.27%, and debt-to-equity at 0.74. NAV was ₹103.30, giving investors additional valuation metrics to consider alongside the GMP.
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹13.15 | ₹14.39 |
| P/E | 15.21x | 13.90x |
| Market Cap | ₹269 crore | ₹360 crore |
| NAV | — | ₹103.30 |
| Price to Book | — | 1.94x |
The company plans to use ₹75 crore from the issue proceeds to repay or prepay borrowings, with the balance allocated toward general corporate purposes. Since this is a completely fresh issue, the funds will go to the company rather than selling shareholders.
Debt reduction is a key part of the IPO plan, particularly as the company reported borrowings of ₹102.59 crore at the end of FY26. The proposed repayment could therefore help reduce its debt burden after the issue.
| Issue Object | Amount |
|---|---|
| Repayment/prepayment of borrowings | ₹75 crore |
| General corporate purposes | Balance |
| Total issue size | ₹91.50 crore |
The latest Priority Jewels IPO GMP is ₹45, updated on August 31, 2026, at 1:54 PM. With the upper IPO price of ₹200, the estimated listing price is ₹245, indicating a potential 22.50% gain. For one 75-share lot, this translates to an indicative profit of ₹3,375 if the stock lists at that level.
The GMP has risen from ₹20 on August 26 to ₹37 on August 27 and ₹45 from August 28 onwards. This suggests stronger grey-market sentiment, but GMP remains unofficial and may change before listing.
| Date | IPO Price | GMP | Est. Listing Price | Indicative Gain | Est. Profit/Lot |
|---|---|---|---|---|---|
| 31 Aug 2026 | ₹200 | ₹45 | ₹245 | 22.50% | ₹3,375 |
| 30 Aug 2026 | ₹200 | ₹45 | ₹245 | 22.50% | ₹3,375 |
| 29 Aug 2026 | ₹200 | ₹45 | ₹245 | 22.50% | ₹3,375 |
| 28 Aug 2026 | ₹200 | ₹45 | ₹245 | 22.50% | ₹3,375 |
| 27 Aug 2026 | ₹200 | ₹37 | ₹237 | 18.50% | ₹2,775 |
| 26 Aug 2026 | ₹200 | ₹20 | ₹220 | 10.00% | ₹1,500 |
| 25 Aug 2026 | ₹200 | ₹30 | ₹230 | 15.00% | ₹2,250 |
| 24 Aug 2026 | ₹200 | ₹28 | ₹228 | 14.00% | ₹2,100 |
Estimated profit per lot is calculated as GMP × 75 shares.
GMP Disclaimer: Grey Market Premium is an unofficial and unregulated indicator based on grey-market activity. It does not guarantee the IPO's actual listing price or listing gains. GMP can change with market sentiment and demand. Investors should consider the company's financials, valuation, risks and market conditions before making an investment decision.
Priority Jewels raised ₹27.45 crore from anchor investors on August 27, 2026. The anchor portion consisted of 13,72,500 shares, equal to 30% of the total issue size.
Half of these shares have a 30-day lock-in ending October 2, 2026, while the remaining shares have a 90-day lock-in ending December 1, 2026.
| Anchor Detail | Information |
|---|---|
| Bid date | August 27, 2026 |
| Shares allocated | 13,72,500 |
| Anchor amount | ₹27.45 crore |
| 50% lock-in ends | October 2, 2026 |
| Remaining lock-in ends | December 1, 2026 |
The minimum application is 75 shares, requiring ₹15,000 at the upper price band. Retail investors can apply for up to 13 lots, while sHNI investors can apply from 14 lots.
At the current GMP of ₹45, one 75-share lot indicates a potential gain of ₹3,375 if the estimated ₹245 listing price is achieved. This is only an estimate, and the actual listing price can differ.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 75 | ₹15,000 |
| Retail Maximum | 13 | 975 | ₹1,95,000 |
| sHNI Minimum | 14 | 1,050 | ₹2,10,000 |
| sHNI Maximum | 66 | 4,950 | ₹9,90,000 |
| bHNI Minimum | 67 | 5,025 | ₹10,05,000 |
The IPO opened on August 28, 2026, and closes on September 1. Allotment is expected on September 2, while refunds and share credit are scheduled for September 3.
The tentative listing date is September 4, 2026, on BSE and NSE. Investors should check the final exchange and registrar updates for any changes.
| Event | Date |
|---|---|
| IPO Open | August 28, 2026 |
| IPO Close | September 1, 2026 |
| Allotment | September 2, 2026 |
| Refund | September 3, 2026 |
| Credit of Shares | September 3, 2026 |
| Listing | September 4, 2026 |
Priority Jewels has shown strong growth in income and profit, with FY26 total income reaching ₹539.03 crore and PAT rising to ₹17.65 crore. The IPO is entirely fresh capital, with ₹75 crore earmarked for debt repayment. Its post-issue P/E of 13.90 times is another important valuation figure.
At the same time, the ₹45 GMP and strong subscription should not be considered a guarantee of listing gains. Investors should also assess jewellery demand, gold and diamond prices, working-capital needs, customer concentration, debt and broader market conditions before deciding whether the Priority Jewels IPO fits their investment objectives.
The Priority Jewels IPO GMP is ₹45 per share as of August 31, 2026, at 1:54 PM. With the upper IPO price of ₹200, the GMP indicates an estimated listing price of ₹245 per share, representing an indicative gain of 22.50%.
GMP is based on unofficial grey-market activity and can change before listing. It should be treated only as an indicator of market sentiment and not as a guarantee of the actual listing price or listing gains.
The latest Priority Jewels IPO GMP is ₹45 as of August 31, 2026, at 1:54 PM. The GMP has remained at ₹45 since August 28 after rising from ₹20 on August 26 and ₹37 on August 27.
At ₹45 GMP, the estimated listing price is ₹245, while the indicative profit on one 75-share lot is ₹3,375 if the stock lists at the estimated price.
Based on the latest GMP of ₹45 and the upper IPO price of ₹200, the estimated listing price of Priority Jewels is ₹245 per share. This implies a potential listing premium of 22.50% over the issue price.
The actual listing price can be different because GMP is unofficial and may change before the shares list. The tentative listing date for Priority Jewels is September 4, 2026, on BSE and NSE.
As of August 31, 2026, at 2:14 PM, the Priority Jewels IPO was subscribed 21.49 times. Retail investors subscribed 29.05 times, while the NII category was subscribed 31.72 times. QIB subscription excluding anchors stood at 0.57 times.
The issue received bids for 6,88,14,750 shares against 32,02,500 shares offered in the relevant categories. The strongest demand so far has come from NII and retail investors.
Priority Jewels has reported strong growth in FY26, with total income reaching ₹539.03 crore and PAT increasing to ₹17.65 crore. The IPO is entirely a fresh issue, and ₹75 crore is planned for repayment or prepayment of borrowings, which could help strengthen the balance sheet.
However, investors should not base the decision only on the ₹45 GMP or strong subscription. Jewellery demand, gold and diamond prices, customer concentration, working-capital requirements, margins and the company's debt position should also be considered before applying.
Priority Jewels may be worth considering for investors who are comfortable with the risks associated with the jewellery manufacturing business. The company has delivered growth in revenue and profit, while its IPO proceeds are largely directed toward reducing borrowings.
At the same time, the business remains exposed to raw-material price movements, changing jewellery demand and customer concentration. Investors should therefore assess the company's financial performance, valuation, risks and IPO objectives rather than relying only on GMP or subscription numbers.
The Priority Jewels IPO lot size is 75 shares. At the upper price band of ₹200 per share, the minimum retail investment is ₹15,000 for one lot.
Retail investors can apply for a maximum of 13 lots, or 975 shares, requiring ₹1.95 lakh at the upper price. The sHNI category starts at 14 lots, while the bHNI category starts at 67 lots.
The Priority Jewels IPO allotment is expected to be finalised on September 2, 2026. Refunds and credit of shares to demat accounts are scheduled for September 3, 2026.
The tentative listing date is September 4, 2026, when the shares are expected to list on both BSE and NSE. Investors should check the final registrar and exchange updates for any changes.
At the upper issue price of ₹200, Priority Jewels has an estimated post-IPO market capitalisation of ₹360 crore. The post-issue EPS is ₹14.39, resulting in a P/E ratio of 13.90 times, compared with 15.21 times on a pre-IPO basis.
For FY26, the company reported ROE of 14.49%, ROCE of 25.36%, EBITDA margin of 6.24% and PAT margin of 3.27%. Its FY26 NAV was ₹103.30 and price-to-book value stood at 1.94 times.
Key risks include gold and diamond price volatility, customer concentration, raw-material costs, working-capital requirements and exposure to international markets. Changes in jewellery demand or input costs could affect the company's margins and profitability.
The company also has significant borrowings, although ₹75 crore of the IPO proceeds is planned for debt repayment. Investors should also consider the company's relatively modest profit margins and dependence on domestic and overseas jewellery demand before investing.
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