Divya Agarwal
Mumbai (Maharashtra) [India], June 24: Pushpa Jewellers Limited (Pushpa, The Company) is a wholesale B2B jewellery maker, proposes to open its Initial Public Offering on Monday, June 30, 2025 aiming to raise ₹ 98.65 Crore (At Upper Price Band), with shares to be listed on the NSE Emerge platform.
The issue size is 67,11,000 equity shares at a face value of ₹ 10 each with a price band of ₹ 143 – ₹ 147 Per Share.
Equity Share Allocation
- QIB Anchor Portion – Up To 9,56,000 Equity Shares
- Qualified Institutional Buyer – Up To 22,31,000 Equity Shares
- Non-Institutional Investors – Not less than 9,57,000 Equity Shares
- Retail Individual Investors – Not less than 22,31,000 Equity Shares
- Market Maker – Not less than 3,36,000 Equity Shares
The net proceeds from the IPO will be utilized to finance the establishment of the proposed new showroom, including the capital expenditure cost and inventory cost for the showroom, funding working capital requirements and general corporate purpose. The anchor portion will open on June 27, 2025 and issue will close on July 02, 2025.
The Book Running Lead Manager to the Issue is Affinity Global Capital Market Private Limited, The Registrar to the Issue is Cameo Corporate Services Limited.
Mr. Anupam Tibrewal, Managing Director of Pushpa Jewellers Limited expressed, “Our journey began with a clear vision to craft timeless jewellery that blends tradition with elegance. Over the years, we have not only built a strong presence across India but have also taken our designs to international markets through our growing export business. Today, we are proud to be recognised for our design excellence, quality craftsmanship, and customer trust.
The announcement of our Initial Public Offering marks a major milestone in our journey. The proceeds will support the establishment of a new showroom, enabling us to strengthen our retail footprint and offer an enriched customer experience. This expansion is part of our broader plan to scale operations, explore untapped markets both domestic and overseas, and further solidify our position in the jewellery industry.”
Mr. Sanjay Bhalotia, Founder and Chairman of Affinity Global Capital Market Private Limited said, “The Indian jewellery industry continues to show resilient growth, driven by evolving consumer preferences, rising disposable income, and increasing demand for branded, high-quality designs. With exports gaining momentum and organised players expanding their footprint, the sector is undergoing a significant transformation.
This company stands at a promising juncture, backed by a strong product portfolio, established manufacturing capabilities, and a growing presence in both domestic and international markets. The proposed Initial Public Offering will support its retail expansion and operational scale-up, positioning it well to capture emerging opportunities and strengthen its role in the evolving jewellery landscape.”
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