We create affordable jewelry that every Indian can afford - Anupam Tibrewal, MD of Pushpa Jewellers

We create affordable jewelry that every Indian can afford - Anupam Tibrewal, MD of Pushpa Jewellers

Addressing media persons on the announcement of their upcoming IPO, Anupam Tibrewel highlighted their USP of coming out with beautifully carved affordable gold jewelry that even the middle class could afford to have.  

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.      

Pushpa Jewellers Limited IPO Opens on June 30, 2025

        Total Issue Size - Up To 67,11,000 Equity Shares of 10 each

        Fresh Issue - Up To 53,70,000 Equity Shares

        Offer For Sale - Up To 13,41,000 Equity Shares

        IPO Size - 98.65 Crore (At Upper Band)

        Price Band - 143 - 147 Per Share

        Lot Size - 1,000 Equity Shares


 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."

About Pushpa Jewellers Limited:

Pushpa Jewellers Limited (Pushpa, The Company) is a Wholesaler jewellery maker in the B2B segment with a presence across India. The Company is one of the leading jewellery manufacturers specializing in both traditional and modern gold jewellery. It offers a wide range of gold jewellery, incorporating fine stones like Emerald, Jade, Pearl, and Meena. The Company has a strong presence in multiple regions across India and exports its products to international markets such as Dubai, the United States, and Australia, with plans for further expansion.

The Company combines in-house design and outsourced manufacturing operations to ensure high-quality production. It provides a diverse range of jewellery, including necklaces, rings, earrings, bangles, bracelets, pendants, Mangal sutras, and kadas, catering to various consumer needs. Pushpa sells its products to a wide array of customers, including wholesalers, retailers, and state-owned entities.

In FY24, The Company Achieved a Revenue of 25,534.28 Lakhs, Operating EBITDA of 1,987.50 Lakhs, & PAT of 1,357.70 Lakhs.

In FY25, The Company achieved a Revenue of 28,106.07 Lakhs, Operating EBITDA of 3,175.59 Lakhs & PAT of 2,228.63 Lakhs.


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