Nityas Gems & Jewellery IPO Opens Today
The initial public offering (IPO) for Nityas Gems & Jewellery has commenced today, September 30, offering investors an opportunity to subscribe to shares within a price band of Rs 70-75 apiece. The Surat-based firm, specializing in lab-grown diamond studded gold jewellery, seeks to raise Rs 108 crore through this maiden stake sale. The issue will remain open for subscription until Monday, October 05.
Company Profile and Business Model
Incorporated in 2022, Nityas Gems & Jewellery is engaged in the design, manufacturing, and sale of lab-grown diamond studded gold jewellery across India. The company operates through an integrated business model, encompassing both B2B manufacturing and distribution to organized retailers, standalone shops, and wholesalers, alongside a growing direct-to-consumer (D2C) omnichannel retail presence. In 2025, Nityas Gems & Jewellery strategically acquired Ayaani Diamonds and Jewellery, a D2C brand with 10 retail stores across eight cities, significantly bolstering its consumer-facing operations. The company also exports its products to international markets including the UAE, Australia, Canada, Taiwan, and Kenya from its facility in Surat.
IPO Details: Price Band, Dates, and Purpose
Investors can apply for a minimum of 200 equity shares and in multiples thereafter. The Rs 108 crore issue is entirely a fresh share sale, comprising 1,44,56,000 equity shares. The net proceeds from the IPO are earmarked primarily for funding the company's working capital requirements and general corporate purposes. Shares are reserved with 50 percent for qualified institutional bidders (QIBs), 15 percent for non-institutional investors (NIIs), and 35 percent for retail investors.
Financial Performance and Brokerage Views
Nityas Gems & Jewellery has demonstrated robust financial growth. For the financial year ended March 31, 2026, the company reported a net profit of Rs 22.32 crore on a revenue of Rs 203.33 crore. This marks a significant increase from FY25, where it posted a net profit of Rs 9.79 crore with revenue of Rs 96.85 crore. The company's EBITDA margins stood at 15.27 percent and PAT margins at 11 percent for FY26.
Several brokerage firms have issued 'subscribe' ratings for the Nityas Gems Jewellery IPO. BP Equities highlighted the company's strong revenue momentum, expanding margin profile, sound return ratios, and increasing consumer adoption of lab-grown diamonds. Master Capital Services views the IPO as a potential long-term investment opportunity, citing the company's exposure to the growing demand for affordable, lightweight, and lab-grown diamond jewellery. Ventura also gave a 'subscribe' rating, noting the combined strength of Nityas's B2B manufacturing and its newly added D2C vertical via Ayaani.
Grey Market Premium and Listing Information
Ahead of its official listing, Nityas Gems & Jewellery shares are commanding a grey market premium (GMP) of Rs 5-6 apiece, suggesting potential listing gains of 6-8 percent for investors. Choice Capital Advisors is serving as the sole book-running lead manager for the issue, with Bigshare Services appointed as the registrar. The shares of Nityas Gems & Jewellery are scheduled to be listed on both NSE Ltd and BSE Ltd on Thursday, October 08.