Yaashvi Jewellers Limited is launching a 100% Fixed Price Public Issue to raise ₹43.88 crores on the BSE SME platform. The offering consists entirely of a fresh issue of 52,86,400 equity shares with a face value of ₹10 each, priced firmly at ₹83 per equity share.
Established in 2013 and based in Jaipur, Rajasthan, the company specialises in manufacturing and trading high-quality gold jewellery, specifically focusing on machine-made gold chains spanning 9K to 22K purity categories.
All proceeds generated from this public market debut are directly positioned to enter the corporate structure to clear pending liabilities, expand production infrastructure, and optimize operational capabilities.
Yaashvi Jewellers IPO Objectives
The company has allocated ₹21.50 crores (₹2,150.00 lakhs) from the net proceeds to meet its enhanced operational and inventory-stocking needs.
A dedicated sum of ₹11.00 crores (₹1,100.00 lakhs) will be utilized to fully or partially retire existing short-term or long-term debt secured from commercial banks and financial institutions.
The remaining balancing portion of the fresh capital will be deployed toward general corporate expenses, asset maintenance, and statutory requirements.
In strict compliance with Regulation 230(2) of the SEBI ICDR Regulations, the capital earmarked for general corporate purposes cannot exceed 15% of the gross issue proceeds.
About Yaashvi Jewllers
Yaashvi Jewellers is an established manufacturing and trading company specialising in machine-made gold chains and high-quality jewellery. Founded in 2013 and headquartered in Jaipur, Rajasthan, the company caters to a robust B2B wholesale client network. Its varied product portfolio spans 9K to 22K gold purities, striking a balance between luxury, affordability, and precision design.
Industry Outlook
- The Indian jewellery market is seeing a strong shift from small unorganised local jewellers to organised and trusted branded jewellery chains, driven by greater transparency and customer confidence.
- Changing consumer preferences and rising demand for luxury products have helped India become the world’s second-largest diamond jewellery market, accounting for nearly 12% of global demand.
- Recent trade agreements, including the India–New Zealand Free Trade Agreement (FTA), are expected to improve export opportunities, increase global market access, and support investment in the jewellery sector.
- The mandatory implementation of BIS hallmarking norms has improved customer trust by ensuring standardised gold purity and better quality assurance across cities and towns.
- Jewellery manufacturers are increasingly adopting advanced automated technology and precision machinery to improve production efficiency and reduce gold wastage.
- Rising disposable incomes, growing lifestyle aspirations, and strong cultural demand continue to support higher spending on gold and jewellery, both as fashion products and long-term investment assets.
How To Apply for the Yaashvi Jewellers IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Yaashvi Jewellers IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Yaashvi Jewellers IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Yaashvi Jewellers
- Registered Office Address: Plot No. 486, Nemi Sagar Colony, Vaishali Nagar, Jaipur, Rajasthan, India, 302021.
- Telephone Contact: +91 9529833397
- Official Investor Email:investor@yaashvijewellers.com
Yaashvi Jewellers IPO Reservation
| Investor Category | Percentage of Issue |
| Market Maker Reservation Portion | 5.05% |
| Non-Institutional Investors (NII / HNI) | 49.95% |
| Retail Individual Investors (RII) | 50.05% |
| Total Public Issue Size | 100.00% |
Yaashvi Jewellers IPO Lot Size Details
| Application Category | Lots | Shares | Amount |
| Individual Investors (Retail) (Min) | 2 | 3,200 | ₹2,65,600 |
| Individual Investors (Retail) (Max) | 2 | 3,200 | ₹2,65,600 |
| HNI (Min) | 3 | 4,800 | ₹3,98,400 |
Yaashvi Jewellers IPO Promoter Holding
The promoters of the company include Ankit Agarwal and Ankita Aggarwal.
| Share Holding Pre-Issue | 94.30% |
| Share Holding Post Issue | 66.01% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Yaashvi Jewellers IPO
| Key Performance Indicator | Pre-IPO Metric |
| Earnings Per Share (EPS) | ₹14.82 |
| Return on Equity (ROE) | 54.07% |
| Return on Capital Employed (ROCE) | 26.73% |
| EBITDA Margin | 6.67% |
| PAT Margin | 4.08% |
| Debt-to-Equity Ratio | 1.50x |
Yaashvi Jewellers IPO Registrar and Lead Managers
Book Running Lead Manager
- Name: Smart Horizon Capital Advisors Private Limited (Formerly known as Shreni Capital Advisors Private Limited)
- Office Address: Office No. S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri East, Mumbai, Maharashtra, 400093.
- Telephone: 022-28706822
- Email:director@shcapl.com / investor@shcapl.com
Registrar to the Issue
- Name: Bigshare Services Private Limited
- Office Address: B/908, Western Edge II, Kanakia Space, Behind Metro Mall, Off Western Express Highway, Magathane, Borivali East, Mumbai, Maharashtra, 400066.
- Telephone: 022-6263 8200
- Email:ipo@bigshareonline.com
Financial Performance of Yaashvi Jewellers IPO
| Financial Metric | FY 2024 | FY 2025 | FY 2026 |
| Total Income | 200.93 | 297.76 | 449.74 |
| EBITDA | 4.95 | 18.33 | 29.88 |
| Profit After Tax (PAT) | 1.96 | 11.28 | 18.28 |
| Net Worth | 8.75 | 24.15 | 43.48 |
| Reserves & Surplus | 3.83 | 11.90 | 31.15 |
| Total Borrowings | 16.25 | 43.11 | 65.36 |
| Total Assets | 25.48 | 70.94 | 118.23 |
Note: All figures are in ₹ Crore.
Yaashvi Jewellers Peer Comparison
| Company Name | Basic EPS (₹) | P/E Ratio (x) | Return on Net Worth (RoNW %) |
| Yaashvi Jewellers | 14.83 | 5.60 | 42.05% |
| Ashapuri Gold Ornaments | 0.38 | 11.03 | 8.21% |
| Moksh Gold Ornaments | 1.01 | 12.10 | 7.61% |
| AJC Jewel Manufacturers | 6.44 | 14.75 | 19.43% |
Strengths and Opportunities of Yaashvi Jewellers
- The company delivered an exceptional 475% year-on-year growth in PAT in FY25, highlighting strong operational leverage and improving profitability.
- The IPO is entirely a fresh issue of equity shares, with no promoter stake sale involved, indicating strong confidence from the founders and alignment with future shareholders.
- Revenue from operations grew by a robust 48% annually, reflecting healthy demand and strong product off-take across key markets.
- By opting for a fixed issue price of ₹83 instead of the conventional book-building route, the company has demonstrated confidence in its valuation and pricing transparency.
- The business is led by founders Ankita Aggarwal and Ankit Aggarwal, who bring significant experience and deep industry understanding of the competitive Rajasthan jewellery market.
- The company offers a diversified product portfolio across 9K, 14K, 18K, 20K, and 22K jewellery categories, including gold chains, silver fashion jewellery, and customised bullion products.
- Its manufacturing operations are supported by specialised automated chain-making technology, helping improve production efficiency while minimising gold wastage.
- The company has built a strong and recurring B2B customer base, with repeat orders coming from established jewellery retailers and showroom networks.
- The fresh capital raised through the IPO could support expansion into the higher-margin B2C segment, allowing the company to diversify beyond its wholesale-focused business model.
- The company also stands to benefit from the ongoing shift in India’s jewellery market, where consumers are increasingly moving from unorganised local jewellers toward organised and hallmarked jewellery brands.
Risks and Threats of Yaashvi Jewellers
- While the company reported a sharp 475% jump in PAT, the growth came from a relatively small profit base, which may lead to earnings volatility in the near term.
- A significant portion of the company’s revenue remains dependent on a limited number of wholesale customers, increasing client concentration risk.
- The business primarily operates through recurring purchase orders instead of long-term supply contracts, which could affect revenue visibility and order stability.
- The company’s planned expansion into the B2C retail segment may involve execution challenges, including higher marketing expenses, customer acquisition costs, and brand-building efforts.
- Its operations remain working capital intensive, as substantial funds are continuously tied up in maintaining raw gold inventory for ongoing production requirements.
- Profit margins may remain vulnerable to sudden fluctuations in global gold prices, as sharp commodity price movements can impact manufacturing spreads and inventory costs.
- With manufacturing operations largely concentrated in Jaipur, the company faces regional concentration risks linked to local regulatory issues, labour disruptions, or supply chain bottlenecks.
- The company operates in a highly competitive jewellery market, competing with both established regional players and large national jewellery brands across tier-1 and tier-2 cities.
- The business is also subject to strict Bureau of Indian Standards (BIS) hallmarking regulations, where any compliance lapse or quality-related issue could result in penalties and reputational risks.
