Nityas Gems & Jewellery IPO Opens 2026: Dates, Price Band & Details
· 9 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.
Nityas Gems & Jewellery Limited has opened its ₹108.35 Cr mainboard IPO for subscription between 30 Sep 2026 and 05 Oct 2026. Here is a comprehensive overview of the issue structure, business operations, key financial performance metrics, and risk factors.
Direct answer: The mainboard IPO of Nityas Gems & Jewellery opened on 30 Sep 2026 and closes on 05 Oct 2026, offering equity shares in a price band of ₹70 to ₹75 with a lot size of 200 shares. Nityas Gems & Jewellery on BuyUnlistedShares tracks issue terms, financials, and risks. BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002 presents this issue breakdown.
Per grey-market tracking as of 30 Sep 2026, the unofficial and indicative grey-market premium (GMP) for Nityas Gems & Jewellery stood at ₹5.0 (+6.67% over the upper price band), having moved from a high of ₹9.0 (+12.0%) on 29 Sep 2026 to a low of ₹3.0 (+4.0%) on 30 Sep 2026.
Nityas Gems & Jewellery IPO Details, Price Band, and Schedule
Nityas Gems & Jewellery Limited is raising ₹108.35 Cr through a 100% fresh issue of 1,44,56,000 equity shares with a face value of ₹5.0 per share. The issue carries a price band of ₹70.0 to ₹75.0 per share. Bidding opened on 30 Sep 2026 and will close on 05 Oct 2026. Retail investors can apply for a minimum lot size of 200 equity shares, requiring an initial outlay of ₹15,000 at the upper price band.
| Item | Value | As of |
|---|---|---|
| Price band | ₹70 – ₹75 | 01 Oct 2026 |
| Lot size | 200 shares | 01 Oct 2026 |
| Issue size | ₹108.35 Cr | 01 Oct 2026 |
| Fresh issue | ₹108.35 Cr | 01 Oct 2026 |
| Exchange | NSE, BSE | 01 Oct 2026 |
| Issue type | MAINBOARD | 01 Oct 2026 |
| Face value | ₹5 | 01 Oct 2026 |
| Opens | 30 Sep 2026 | 01 Oct 2026 |
| Closes | 5 Oct 2026 | 01 Oct 2026 |
| Allotment | 6 Oct 2026 | 01 Oct 2026 |
| Listing | 8 Oct 2026 | 01 Oct 2026 |
| Registrar | Bigshare Services Pvt.Ltd. | 01 Oct 2026 |
| GMP | ₹5 (unofficial, indicative) | 30 Sep 2026 |
Choice Capital Advisors Pvt. Ltd. serves as the sole Book Running Lead Manager to the issue, while Bigshare Services Pvt. Ltd. is acting as the registrar. The equity shares are proposed to be listed on both NSE and BSE.
The total net offer is distributed among Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail Individual Investors (RII), along with a reservation for eligible employees.
| Category | Allocation Terms | Shares Offered |
|---|---|---|
| QIB | Not more than 50% of Net Offer | 7,178,000 |
| NII (HNI) | Not less than 15% of Net Offer | 2,153,400 |
| — sNII (₹2 Lakh to ₹10 Lakh) | Min bid 2,800 shares (₹2,10,000) | 717,800 |
| — bNII (Above ₹10 Lakh) | Min bid 13,400 shares (₹10,05,000) | 1,435,600 |
| Retail | Not less than 35% of Net Offer | 5,024,600 |
| Employee Reservation | Allocated category | 100,000 |
Following the completion of bidding on 05 Oct 2026, the basis of allotment is scheduled for finalisation on 06 Oct 2026. Refund processing and demat credit of equity shares are set for 07 Oct 2026, leading to the commencement of public trading on 08 Oct 2026.
Business Operations and Working Capital Objects
Incorporated in India, Nityas Gems & Jewellery Limited specialises in the design, manufacturing, and distribution of lab-grown diamond-studded gold jewellery. According to the offer document, lab-grown diamonds possess the same chemical, physical, and optical properties as mined diamonds, offering identical crystal structures and sparkle while catering to daily-wear and affordable luxury segments.
The company operates an integrated business structure comprising:
- B2B Segment: Direct supply and design execution for established retail chains, standalone jewellers, and wholesalers across 18 states and 2 union territories in India. Key clients include 'GIVA', 'Palmonas', 'ONYA', and 'Ladia Diamonds'.
- D2C Segment: Omnichannel retail operations managed via its subsidiary, Ayaani Diamonds and Jewellery Private Limited, serving end customers through online sales channels and retail stores located in seven Indian cities.
Manufacturing activities are centralised at a single facility spanning approximately 7,000 sq. ft. in Surat, Gujarat. The operations are supported by an in-house team of 136 Karigars handling handcrafted assembly, quality testing, and customized design specifications.
Regarding the deployment of fresh capital, the company aims to allocate ₹70.00 Cr from the gross fresh issue proceeds to meet its incremental working capital requirements for Fiscal 2027. The remaining balance will be utilized towards general corporate purposes.
Financial Performance, Ratios, and Peer Comparison
Restated consolidated financial statements reflect steady top-line and bottom-line expansion over the last three financial years ending 31 Mar 2026.
Restated consolidated financial figures show total income rising from ₹53.66 Cr in FY24 to ₹203.33 Cr in FY26, while profit after tax expanded from ₹4.02 Cr to ₹22.32 Cr over the same period.
Key operational metrics as of 31 Mar 2026 include an EBITDA margin of 15.27% and a PAT margin of 11.00%. The company reported a Return on Equity (ROE) of 70.17%, Return on Net Worth (RoNW) of 43.75%, and Return on Capital Employed (ROCE) of 42.93%. Total borrowings as of 31 Mar 2026 stood at ₹9.08 Cr against a Net Worth of ₹79.43 Cr, resulting in a debt-to-equity ratio of 0.29.
At the upper price band of ₹75 per share, the post-issue Price-to-Earnings (P/E) multiple stands at 19.38x based on post-issue EPS of ₹3.87, compared to a pre-issue P/E of 14.51x on pre-issue EPS of ₹5.17. The Net Asset Value (NAV) per share was ₹15.13 as of 31 Mar 2026.
| Company Name | Face Value (₹) | EPS Basic (₹) | NAV per share (₹) | P/E Multiple | RoNW (%) |
|---|---|---|---|---|---|
| Nityas Gems & Jewellery Ltd. | 5.0 | 5.52 | 15.13 | 19.38x (Post) | 43.75% |
| Golkunda Diamonds & Jewellery Ltd. | 10.0 | 19.66 | 115.22 | 16.61x | 18.81% |
| Goldiam International Ltd. | 2.0 | 15.11 | 97.95 | 21.69x | 18.38% |
| Renaissance Global Ltd. | 2.0 | 8.40 | 140.62 | 18.63x | 6.09% |
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Bidding Progress and Subscription Status
As bidding opened on 30 Sep 2026, investors submitted applications across retail and institutional segments. Official subscription data captured on 30 Sep 2026 at 11:20 shows total bidding reaching 0.2x of the issue size.
As of 30 Sep 2026, subscription data indicates total bidding reached 0.2x on Day 1, with retail investors subscribing 0.51x and non-institutional bidding standing at 0.1x.
Segment-wise performance shows Retail investors placing bids for 0.51x of their quota, while the NII portion received 0.1x subscription (sNII at 0.2x and bNII at 0.05x). Bidding for the QIB category was recorded at 0.0x during the initial morning hours of Day 1.
Strengths and Key Risk Factors
Prospective applicants should evaluate both operational strengths and statutory risks disclosed in the issuer's Red Herring Prospectus (RHP).
Key Strengths:
- Integrated B2B and D2C model capturing both high-volume retail supply and branded direct consumer sales.
- Established relationships with major jewellery retail chains including GIVA, Palmonas, ONYA, and Ladia Diamonds.
- Dedicated Surat manufacturing infrastructure supported by 136 skilled Karigars ensuring design control and reduced external job-work reliance.
- Promoter leadership led by Rajnikant Lallubhai Chanchad, Sonalben Rajnikant Chanchad, and Savaliya Dhruv Janakbhai, who collectively hold over 29 years of cumulative industry experience.
Key Risk Factors:
- Customer Concentration: Revenue from B2B operations is significantly concentrated among a limited group of retail chain customers. Loss of any major customer could impact earnings.
- Supplier Concentration: Raw material procurement for gold and lab-grown diamonds is concentrated, with the top 10 suppliers accounting for over 90% of total purchases in recent periods.
- Single Facility Risk: All manufacturing and handcrafting processes are concentrated at a single facility in Surat, Gujarat. Regional disruptions, machinery breakdown, or local labour issues could disrupt production schedules.
- Geographic Concentration: A substantial portion of domestic sales originates from Gujarat, Karnataka, and Telangana.
- Working Capital Intensity: B2B sales cycles require extending trade credit terms to retailers, exposing the company to credit risk and working capital pressure.
- Discretionary & Seasonal Demand: Demand for diamond jewellery is non-essential and sensitive to general economic conditions, gold price volatility, and festive season timelines.
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Frequently Asked Questions
When does the Nityas Gems & Jewellery IPO open and close?
The public issue opens for bidding on 30 Sep 2026 and closes on 05 Oct 2026.
What is the issue price band and lot size for Nityas Gems & Jewellery IPO?
The price band is fixed between ₹70.0 and ₹75.0 per equity share. The minimum bid lot size is 200 shares, requiring ₹15,000 for a single retail application at the upper price limit.
What is the total issue size of the Nityas Gems & Jewellery IPO?
The issue totals ₹108.35 Cr, comprising a fresh issue of 1,44,56,000 equity shares. There is no offer-for-sale (OFS) component.
How will the company use the IPO proceeds?
Out of the total net proceeds, ₹70.00 Cr is allocated to fund incremental working capital requirements for Fiscal 2027, with the remainder allocated towards general corporate purposes.
Does BuyUnlistedShares give a recommendation or verdict on this IPO?
No, we do not make that call. BuyUnlistedShares does not provide investment ratings, buy/sell advice, or subscription recommendations. We publish objective financial information, regulatory facts, and subscription statistics to assist investors in making independent decisions.
Information only, not investment advice. Unlisted and pre-IPO securities carry liquidity, valuation and listing-timing risk; read the offer document and consult a SEBI-registered investment adviser for advice specific to your situation.
