Nityas Gems and Jewellery to open mainboard IPO on September 30 with price band at Rs 70-75

New business data points to the fact that Nityas Gems and Jewellery, a Gujarat-based maker of diamond-studded gold jewellery, is set to launch its initial public offering (IPO) for subscription on September 30, with the price range set at Rs 70-75 per share.

The firm aims to mobilize Rs 108.42 crore through the IPO, which comprises an entirely fresh offering of 1.44 crore equity shares.

The anchor book will open for a day on September 29, while the public offering will close for subscription on October 5. The IPO share allotment is likely to be finalised by October 6, while trading in the firm's equity shares is anticipated to commence on the bourses on October 8.

Nityas Gems and Jewellery filed its draft offer document in March 2026, which was subsequently approved by SEBI in July 2026.

The firm is seeking a valuation of Rs 432 crore at the upper end of the price range.

Nityas Gems operates under a business-to-business (B2B) model, manufacturing jewellery products for retailers and wholesalers. Under its direct-to-consumer (D2C) segment, it operates an omnichannel retail business through its subsidiary, Ayaani Diamonds and Jewellery.

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The firm intends to utilise Rs 70 crore of the net proceeds from the fresh offering for working capital requirements, with the remainder earmarked for general corporate purposes.

The firm's financial performance has been firm in recent years, with earnings more than doubling to Rs 22.8 crore in the year ended March 2026, from Rs 9.8 crore in the previous year. Topline during the same period additionally more than doubled to Rs 202.9 crore from Rs 96.8 crore.

Choice Capital Advisors has been appointed as the book-running lead manager for the Nityas Gems and Jewellery IPO.