Nityas Gems & Jewellery IPO
Nityas Gems & Jewellery IPO at a glance
Nityas Gems & Jewellery IPO was a mainboard issue of ₹108.35 Cr at a price band of ₹70 – ₹75 per share, open from 30 Sep 2026 to 05 Oct 2026. It was subscribed 0.96 times overall (QIB 0.38x, NII 0.65x, retail 1.93x). The shares listed on BSE, NSE on 08 Oct 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
Not financial advice
Issue Details
Objects of the Issue
- 💰 Working capital — ₹70 Cr
- 💰 General corporate purposes
About the Company
Nityas Gems & Jewellery, based in Surat and operating since 2022, designs and manufactures gold jewellery studded with lab-grown diamonds. It supplies other jewellery brands such as GIVA, Palmonas and ONYA on a B2B basis, and in July 2025 it bought Ayaani Diamonds, a direct-to-consumer brand with about 10 stores in 8 cities plus an online store. It also exports to the UAE, Australia, Canada, Taiwan and Kenya.
Strengths
- ✅ Combines B2B manufacturing for other brands with its own retail brand, Ayaani
- ✅ In-house design, prototyping and production at its Surat facility
- ✅ Income roughly doubled in FY26 and PAT rose over 2x
- ✅ Low borrowings relative to net worth
Risk Factors
- ⚠️ Very short operating history — business started only in 2022
- ⚠️ Integration of the recently acquired Ayaani retail brand is still under way
- ⚠️ A few large B2B customers account for a big share of sales
- ⚠️ Lab-grown diamond prices have been falling, which can pressure margins
Subscription Status
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | — | — | — | 0.00x |
| Day 2 | — | — | — | 0.00x |
| Day 3 | — | — | — | 0.00x |
Share Reservation
Allocation as per SEBI regulations for Mainboard IPO
Anchor Investors
Promoter Holding
Founders & Leadership
IPO Timeline
Key Financials
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 203.33 | 96.85 | 53.66 |
| Profit After Tax | 22.32 | 9.79 | 4.02 |
| EBITDA | 30.97 | 12.90 | 5.48 |
| Net Worth | 79.43 | 22.57 | 5.33 |
| Total Borrowing | 9.08 | 7.11 | 3.26 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 28.10 | 43.38 |
| EBITDA Margin (%) | 15.23 | 13.32 |
| Debt / Equity | 0.11 | 0.32 |
| Net Worth (Rs. Cr) | 79.43 | 22.57 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹3.87 | — |
| P/E (x) | 19.38x | — |
| ROE (%) | 43.75% | — |
| Promoter Holding | 58.1% | 43.51% |
| Market Cap | ₹431.95 Cr | |