IPO Details

Bidding Dates

30 Jun '25 - 02 Jul '25

Minimum Investment

₹1,43,000/ 1 Lot (1,000 Shares)

Price Range

₹143-₹147

Maximum Investment

₹1,47,000/ 1 Lot (1,000 Shares)

Retail Discount

To be announced

Issue Size

₹98.65 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)   |  

Pushpa Jewellers IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jun 30, 25

IPO Closing Date

Jul 02, 25

Basis of Allotment

Jul 03, 25

Initiation of Refunds

Jul 04, 25

IPO Listing Date

Jul 07, 25

About Pushpa Jewellers IPO

Pushpa Jewellers IPO is a book-built issue worth ₹98.65 crore. It includes a fresh issue of 53.70 lakh shares amounting to ₹78.94 crore and an offer for sale of 13.41 lakh shares aggregating to ₹19.71 crore. The IPO opens for public subscription on June 30, 2025, and closes on July 2, 2025.

The basis of allotment is expected to be finalised on July 3, 2025. The IPO is proposed to be listed on the NSE SME platform, with a tentative listing date set for July 7, 2025. The price band for Pushpa Jewellers IPO is fixed between ₹143 and ₹147 per share.

A minimum application must be for 1,000 shares, requiring a retail investment of ₹1,43,000. To increase the chances of allotment amid potential oversubscription, bidding at the cutoff price of ₹147 is recommended, bringing the investment to ₹1,47,000. For HNIs, the minimum application is 2 lots or 2,000 shares, which amounts to ₹2,94,000.

Affinity Global Capital Market Private Limited is managing the issue, while Cameo Corporate Services Limited acts as the registrar. Sunflower Broking Private Limited is the market maker.

Industry Outlook

  1. The global jewellery market is projected to grow at a CAGR of 4.6% from 2023 to 2030, reaching USD 488.21 billion by 2030. This steady growth signals rising consumer demand, which could support higher sales volumes for Pushpa Jewellers Limited in the coming years.
  2. India alone accounted for 24.21% of the global jewellery market in 2023, with a valuation of USD 85.52 billion and an expected CAGR of 5.7% until 2030. This strong domestic growth provides a favourable market for Pushpa Jewellers to expand operations and customer base.
  3. India's gold demand in 2024 is projected to reach 800–900 tonnes, while gems and jewellery exports are targeted at USD 100 billion by 2027. Such industry momentum can boost Pushpa Jewellers' export potential and enhance its presence in global markets.

Pushpa Jewellers IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. The company aims to use a portion of the proceeds to help meet the company’s working capital needs for smoother operations.
  2. Funds will be used to set up a new showroom, covering both capital costs and inventory purchase.
  3. A portion of the funds will be allocated for general corporate purposes to support business growth.
  4. IPO proceeds will also cover the expenses related to making the public offer.

About Pushpa Jewellers Limited

Pushpa Jewellers Limited, originally incorporated as Pushpa Jewellers Private Limited on June 3, 2009, is a wholesale B2B gold jewellery manufacturer with operations spread across India and select international markets. The company transitioned to a public limited entity in July 2024, signalling its growth and expansion plans.

Pushpa Jewellers offers a wide range of traditional and modern gold jewellery, crafted using premium stones like emeralds, pearls, jade, and meena. Its collection includes intricately designed necklaces, rings, bangles, earrings, bracelets, pendants, mangal sutras, and kadas. These designs cater to diverse customer preferences, including bridal, daily, and occasional wear.

The company currently operates office-cum-showrooms in Hyderabad, Bangalore, and Chennai, with plans to expand into Vijayawada. It also exports jewellery to international markets such as Dubai, the United States, and Australia. The business model is wholesale, supplying products in bulk to retailers and other businesses.

Pushpa Jewellers combines in-house designing with outsourced manufacturing through 33 skilled Karigars based in Kolkata. This structure ensures precision, efficient production, and high-quality output. The in-house team creates detailed designs, which are then crafted by Karigars and undergo multiple quality checks.

The company’s strength lies in its ability to blend heritage craftsmanship with modern aesthetics, backed by a deep understanding of regional tastes. This, along with a streamlined process and skilled artisans, positions Pushpa Jewellers Limited as a trusted name in India’s gold jewellery market.

How To Check the Allotment Status of Pushpa Jewellers IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for the Pushpa Jewellers IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Pushpa Jewellers IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Pushpa Jewellers IPO

Registered office: Unit 4A, Tirumala 22, Premises No. 22, East Topsia Road, Kolkata-700046, India

Phone:+91 033 4006 3093

E-mail: cs@pushpajewellers.in 

Pushpa Jewellers IPO Reservation

Investor Category

Shares Offered

Market Maker Shares Offered

3,36,000 (5.01%)

QIB Shares Offered

31,87,000 (47.49%)

− Anchor Investor Shares Offered

9,56,000 (14.25%)

− QIB (Ex. Anchor) Shares Offered

22,31,000 (33.24%)

NII (HNI) Shares Offered

9,57,000 (14.26%)

Retail Shares Offered

22,31,000 (33.24%)

Total Shares Offered

67,11,000 (100.00%)

Pushpa Jewellers IPO Lot Size

Investors can place bids starting with a minimum of 1,000 shares and in multiples of that amount. The table below outlines the minimum and maximum number of shares and corresponding investment amounts applicable to Retail Investors and High Net-Worth Individuals (HNIs).

Application

Lots

Shares

Amount

Retail (Min)

1

1,000

₹1,43,000

Retail (Max)

1

1,000

₹1,47,000

HNI (Min)

2

2,000

₹2,94,000

Pushpa Jewellers IPO Promoter Holding

The promoters of the company include Mr. Mridul Tibrewal, Mr. Anupam Tibrewal and Mr. Madhur Tibrewal.

Share Holding Pre-Issue

100.00%

Share Holding Post Issue&nbsp

-

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

Pushpa Jewellers IPO Anchor Investors Details

Pushpa Jewellers IPO secured ₹14.05 crore through anchor investor participation. The anchor bidding took place on June 27, 2025.

Bid Date

June 27, 2025

Shares Offered

9,56,000

Anchor Portion Size (In ₹ Cr.)

14.05

Anchor lock-in period end date for 50% shares (30 Days)

August 2, 2025

Anchor lock-in period end date for remaining shares (90 Days)

October 1, 2025

Key Performance Indicators for Pushpa Jewellers IPO

KPI

Value

RoE (%)

47.31

RoCE (%)

27.84

RoNW (%)

38.34

PAT Margin (%)

7.93

Price to Book Value

7.68

Pushpa Jewellers IPO Prospectus

Pushpa Jewellers IPO Registrar and Lead Managers

Pushpa Jewellers IPO Lead Managers

  • Affinity Global Capital Market Private Limited

Registrar for Pushpa Jewellers IPO

Cameo Corporate Services Limited

Pushpa Jewellers IPO Registrar

Financial Performance of Pushpa Jewellers Limited

Particulars Year ending on March 31, 2025 Year ending on March 31, 2024 Year ending on March 31, 2023
Revenue from Operation (in ₹ lakh) 28,106.07 25,534.28 16,580.17
Profit/ (loss) for the year (in ₹ lakh) 2,228.63 1,357.70 814.40
Earnings per Share (₹) 11.82 7.20 4.32
Net Worth (in ₹ lakh) 5,813.53 3,607.55 2,249.84
Current Ratio (x) 3.29 3.98 2.03
Return on Equity (ROE) (%) 47.31 46.36 44.20
EBITDA (in ₹ lakh) 3,175.59 1,987.50 1,282.68

Know before investing

Strengths

5

  1. Over 15 years of presence with a strong B2B brand identity.

  2. AI-powered lead management boosts customer conversion and sales efficiency.

  3. Wide product range suits all age groups, budgets, and styles.

  4. Operates with 33 skilled Karigars ensuring fine craftsmanship and detailing.

  5. CRM and SaaS systems streamline operations and improve client relations.

Risks

5

  1. Loss of key clients may impact revenue and business stability.

  2. Heavy reliance on 10 major suppliers poses supply chain risks.

  3. Verbal orders increase chances of errors and customer dissatisfaction.

  4. Orders may face delays, changes, or cancellations affecting revenue.

  5. Operations depend on skilled Karigars who are not exclusively bound.

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Pushpa Jewellers IPO Peer Comparison

Company Name EPS (Basic) NAV (per share) (₹) P/E (x) RoNW (%)
Pushpa Jewellers Limited 11.82 30.84 - 38.34
Sky Gold Limited 56.13 336.63 5.52 16.67
Khazanchi Jewellers Limited 18.15 93.52 30.98 19.41

Pushpa Jewellers IPO FAQs

What is the Pushpa Jewellers IPO?

Pushpa Jewellers IPO is a book-built issue IPO. It runs from June 30, 2025, to July 2, 2025. 

When will the Pushpa Jewellers IPO be allotted?

The Basis of Allotment will happen on Thursday, July 3, 2025.  

When will the Pushpa Jewellers IPO open for subscription?

The IPO subscription window will open on June 30, 2025. 

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,000 shares. 

When will the Pushpa Jewellers IPO list on exchanges?

The listing date for Pushpa Jewellers IPO is Monday, July 7, 2025. 

What is the issue size of the Pushpa Jewellers IPO?

The issue size of the Pushpa Jewellers IPO is up to ₹98.65 crore.

What are the open and close dates of the Pushpa Jewellers IPO?

The open and close dates for Pushpa Jewellers IPO are from June 30, 2025, to July 2, 2025. 

What would be the listing gains on the Pushpa Jewellers IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.  

When will I know if my Pushpa Jewellers IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts. 

Who is the registrar of Pushpa Jewellers IPO?

Cameo Corporate Services Limited is the registrar responsible for managing the IPO allotment process and handling investor queries. 

Where is the Pushpa Jewellers IPO getting listed?

Pushpa Jewellers IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).