The main objective of the IPO is to utilize the net proceeds for prepayment or repayment of certain borrowings availed by the company and meet capital for working requirements.

The table below (in lakhs) stipulates the financial performance of the company over the last 3 fiscal years.

India’s gems and jewelry industry is considered one of the most important sectors that contribute significantly to the country’s economy. The country is an international hub for jewelry with approximately 450 organized and unorganized retailers, manufacturers, imports, and exports. 

The government has also taken many initiatives like relaxation on imports, low-cost gold metal loans, 100% FDI, Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE).

The industry also contributed US$ 22.27 billion towards exports in 2024 but experienced a slight decline of 14.94% in the following year due to geopolitical tensions, however, it is expected to recover in the coming years. This industry is growing and is projected to grow to US$100 billion by 2027 in India.

The company is in the gems and jewel sector that contributes significantly to the Indian economy which is projected to reach US$100 billion by 2027 in India.

The company has shown healthy returns since 2022 but also faces big competition from major players in the market. It is also subject to many market risks which potential investors should analyze before investing.

The company with the help of this IPO seeks to utilize the net proceeds to repay its borrowings and meet working capital. The company’s performance in the past years has shown positive profits which in the long run can be fruitful considering the growth of the the jewelry industry in India in the coming years.

However, there is also growing competition in this line of business and prospective investors should carefully compare the risk aspects given in the IPO draft before investing.