Nityas Gems and Jewellery Limited IPO
Closed30 Sep – 5 Oct 2026
What stands out in the offer document
The five questions
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1How it makes money₹96 of every ₹100 of sales comes from its "B2B Operations" segment. ₹61 of every ₹100 comes from Gujarat and Karnataka.
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2Is it growing, and is profit turning into cash?Sales grew 3.8x from Fiscal 2024 to Fiscal 2026 (₹53.7 cr → ₹203 cr). Over 3 years it made ₹36.1 cr of profit and brought in −₹25.8 cr of cash from operations.
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3How much cushion does it have?It owes ₹0.38 for every ₹1 of its own money. The line for manufacturing is ₹2.
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4What you pay, and who gets the moneyAll the money raised goes to the company. At ₹75 you pay about ₹14 for every ₹1 of last year's profit. The listed peers the document names: ₹19 (middle of 3).
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5Who controls it, and what is on record?Promoters own 56% before the IPO. The document discloses 2 legal matters.
What the document doesn't lead with
Each line pairs what the document leads with and what it also prints, with both pages.
New to these terms? What a DRHP is · New shares vs shareholders selling · Lock-in periods
From the draft document. The final prospectus may change it.
Latest update:
Listed at ₹80 vs ₹75 issue price (+6.7%) · Day-one close ₹84 · GMP before listing +1.3% implied, 5.4 pp below the actual open · Subscribed 2.25× (QIB 1.1× · NII 2.0× · Retail 4.0×) · Price band ₹70–₹75 · Closed 5 Oct 2026 · Listed 8 Oct 2026 (Confirmed)
How it actually listed
₹80 on open, against a ₹75 issue price +6.7%
It ended its first day at ₹84 (+12.0% against the issue price), per the NSE's price archive.
On the BSE it opened at ₹82 and closed at ₹84, per the BSE's price archive.
Before it listed, the grey market implied +1.3%. The shares opened 5.4 pp above what that implied. It pointed the right way on whether they would open above the issue price. GMP is unregulated and self-reported.
What Nityas Gems and Jewellery Limited does
We are engaged in the design, manufacturing and sale of lab-grown diamond studded gold jewellery in India, operating through an integrated business model comprising (i) business-to-business (“B2B”) manufacturing and distribution to organized retailers, standalone retailers and wholesalers, to support their inventory and design requirements; and (ii) direct-to-consumer (“D2C”) omnichannel retail operations through our subsidiary, Ayaani Diamonds and Jewellery Private Limited (“Ayaani”).
Nityas Gems and Jewellery Limited financials
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| Fiscal 2024 | Fiscal 2025 | Fiscal 2026 | ||
|---|---|---|---|---|
| Sales | 54 | 97 | 203 | |
| Operating Profit | 5 | 13 | 31 | |
| OPM % | 10.2% | 13.3% | 15.3% | |
| Net Profit | 4 | 10 | 22 | |
| Total Debt | 4 | 8 | 23 |
Nityas Gems and Jewellery Limited IPO offer structure
Fresh issue: ₹108 cr
The offer-for-sale component is not stated in what we extracted from the offer document, so the full issue size and the split between the two are unknown. This figure is the fresh issue alone, not the total raise. Fresh issue proceeds go to the company; OFS proceeds go to selling shareholders.
Issue size and split come from a public aggregator rather than the exchange, cross-checked against a second one. The offer document states the offer-for-sale as a share count against a blank amount, so it cannot be read from the document itself.
Use of proceeds- Funding Working Capital requirements of our Company: ₹70 cr
- General corporate purposes
Nityas Gems and Jewellery Limited promoters and holding
- Rajnikant Lallubhai Chanchad: Chairman and Managing Director
- Sonalben Rajnikant Chanchad: Executive Director
- Savaliya Dhruv Janakbhai: Non-Executive Director
Nityas Gems and Jewellery Limited risks and strengths
Risk factors the company discloses, then the strengths it claims, both from the offer document.
- Our revenue from operations is significantly concentrated among a limited number of B2B customers. (p.33)
- A substantial portion of our revenue from operations is derived from a limited number of states in India, particularly Gujarat, Karnataka, Telangana, Tamil Nadu and Maharashtra. (p.36)
- Our business is working capital intensive, and our working capital requirements have increased. (p.37)
- Our purchases are significantly concentrated among a limited number of suppliers. (p.39)
- Our manufacturing operations are concentrated at a single facility in Surat, Gujarat. (p.42)
- Integrated B2B and D2C business model with a growing and diversified customer base. (p.217)
- Manufacturing capabilities supported by in-house design and technology integration. (p.219)
- Well positioned to capitalize on the growth of lab grown diamond jewellery. (p.220)
- Skilled in-house workforce enabling quality control and reduced dependence on external job work. (p.221)
- Robust financial performance with consistent growth. (p.222)
Nityas Gems and Jewellery Limited peer comparison: DRHP median P/E 18.6x
DRHP data only| Company | CMP | P/E | OPM% | ROE% | Source |
|---|---|---|---|---|---|
| Golkunda Diamonds & Jewellery Limited | — | 16.6x | — | — | DRHP |
| Goldiam International Limited | — | 21.7x | — | — | DRHP |
| Renaissance Global Limited | — | 18.6x | — | — | DRHP |
P/E from offer document where live data unavailable. Not a fair-value judgement.
Nityas Gems and Jewellery Limited market and competition
We are engaged in the design, manufacturing and sale of lab-grown diamond studded gold jewellery in India, operating through an integrated business model comprising (i) B2B manufacturing and distribution... and (ii) D2C omnichannel retail operations through our subsidiary, Ayaani.
Nityas Gems and Jewellery Limited outlook, as the document states it
We intend to expand and diversify our customer base with a primary focus on our B2B segment, supported by the growing acceptance of lab-grown diamond studded gold jewellery. We also intend to engage with established jewellery industry players who have not yet meaningfully entered the lab-grown diamond segment and position ourselves as a manufacturing partner.
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Nityas Gems and Jewellery Limited IPO: common questions
When does the Nityas Gems and Jewellery Limited IPO open and close?
The Nityas Gems and Jewellery Limited IPO is open from 30 Sep 2026 to 5 Oct 2026.
What is the Nityas Gems and Jewellery Limited IPO price band?
The price band is ₹70–₹75 per share.
What is the lot size and minimum investment for the Nityas Gems and Jewellery Limited IPO?
One lot is 200 shares, and a retail application must be at least one lot. That is about ₹15,000 at the upper end of the band. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
How much is the Nityas Gems and Jewellery Limited IPO subscribed?
As of 9 Oct 2026 the total subscription is 2.25×.
When does the Nityas Gems and Jewellery Limited IPO list?
The listing date is 8 Oct 2026.
How do I check the Nityas Gems and Jewellery Limited IPO allotment status?
On the allotment status page published by Bigshare Services, this issue's registrar, and on the exchange's basis of allotment. Those are the primary sources. If the issue was oversubscribed, retail allotment was decided by lottery, so a valid application does not mean shares. We do not hold allotment data and cannot look yours up. How allotment is actually decided →
Sources & method
Subscription and issue data come from the NSE and BSE exchange feeds, with the third-party aggregator, clearly labelled, where an exchange feed is unreachable. DRHP analysis is extracted from the offer document itself, every figure cited to its page. Each figure on the page carries its source and its timestamp.
Grey-market premium (GMP) is unregulated.
Every GMP figure is a self-reported grey-market estimate. No exchange, regulator or clearing body records or audits it, and there is no settlement guarantee or recourse. Shown for context only; never decide on GMP alone. New to GMP? The 30-second explainer → Has GMP actually been right? →
Nityas Gems and Jewellery Limited IPO allotment status
Listed 8 Oct 2026. Allotment is decided and published by the registrar, not by us. This issue's registrar is Bigshare Services.
Check your allotment on the registrar's own page ↗
We do not hold allotment data and cannot look yours up. If the issue was oversubscribed, retail allotment was decided by lottery, so a valid application does not mean shares. How allotment is actually decided →