Pushpa Jewellers was incorporated on June 03, 2009. The company designs and manufactures traditional and modern gold jewellery for the B2B market. It specializes in intricate detailing using fine stones like emerald, jade, pearl, and meena. It has a pan-India presence and exports to countries such as the United States, Dubai, and Australia
| Bidding Dates |
|---|
| 30 Jun 2025 - 02 Jul 2025 |
| Subscription |
|---|
| 2.37x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,43,000 | 1 | 1 | 1000 | 6.7 M | ₹143 - ₹147 | 72.29 % | ₹959.7 M - ₹986.5 M | RHP DOC |
Pushpa Jewellers IPO SUBSCRIPTION STATUS
02 Jul '25Pushpa Jewellers IPO overall subscription rate was 2.37 times the total available shares
Pushpa Jewellers IPO retail subscription rate was 4.11 times in the retail segment
Pushpa Jewellers IPO non-institutional investor subscription rate was 3.17 times in the non-institutional investor category
Pushpa Jewellers IPO Qualified Institutional Bidder subscription rate was 0.92 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
02 Jul 2025 (Day 3) | 4.11x | 3.17x | 0.92x |
01 Jul 2025 (Day 2) | 1.75x | 1.75x | 0.69x |
30 Jun 2025 (Day 1) | 0.12x | 0.03x | 0.59x |
Pushpa Jewellers FINANCIALS
| Period | Net Profit (Rs in crore) | Revenue from Operations (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 22.3 | 281.1 | 0.1 | -5.8 | 11.30% |
| FY24 | 13.6 | 255.3 | 8.8 | 8.2 | 7.8% |
| FY23 | 8.1 | 165.8 | 0.1 | -9.4 | 7.7% |
Pushpa Jewellers IPO SUBSCRIPTION STATUS DETAILS
Pushpa Jewellers had 6.7 M shares on offer
Pushpa Jewellers IPO offer price was in the range ₹143 - ₹147
Pushpa Jewellers IPO minimum Investment was ₹143000
Pushpa Jewellers IPO issue size was ₹ 959.7 M - ₹ 986.5 M
Pushpa Jewellers had a minimum lot size of 1000 Shares per application
Pushpa Jewellers NUMBER OF SHARES ON OFFER
Pushpa Jewellers IPO IMPORTANT DATES
| Issue Open Date | 30 Jun 2025 |
| Issue close Date | 02 Jul 2025 |
| Allotment Date | 03 Jul 2025 |
| Refund Date | 04 Jul 2025 |
| Demat Account Credit Date | 04 Jul 2025 |
| Listing Date | 07 Jul 2025 |
| Listing on Exchange(s) | NSE |
| Pushpa Jewellers Allotment Status | Exchange/ Registrar |
Pushpa Jewellers IPO subscription opened on 30 Jun 2025, and closed on 02 Jul 2025
IPO allotment for Pushpa Jewellers was finalized on Thursday, 03 Jul 2025
IPO listing for Pushpa Jewellers was on NSE on Monday, 07 Jul 2025
Pushpa Jewellers IPO LISTING GAINS
| Issue Price (adjusted) | 147.0 |
| Listing Open Price | 112.0 |
| Listing Close Price | 117.6 |
| Listing Gain% | -23.8% |
| Current Gain% | -23.1% |
Pushpa Jewellers Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pushpa Jewellers Ltd. | 113 | 273.7 | 10.6 | 0.7 | 0.7 | 16.8 | 14.6 | 419.5 | 49.2 | 25.9 | 16.1 | 10.7 | 16.1 |
| Titan Company Ltd. | 4941 | 438655.2 | 76.2 | 1.4 | 4.7 | 32.3 | 8.4 | 88136 | 44.6 | 5073 | 52 | 64.9 | 55.1 |
| Kalyan Jewellers India Ltd. | 606.3 | 62615.7 | 43.6 | 0.6 | 1.6 | 21.4 | 6.5 | 35950.9 | 42.7 | 1350.4 | 88.9 | 13.9 | 79.1 |
| Thangamayil Jewellery Ltd. | 5275 | 16404 | 41.9 | 0.2 | 1.7 | 24.8 | 9.2 | 8513.8 | 73.2 | 351.6 | 196.2 | 125.7 | 262.5 |
| Bluestone Jewellery and Lifestyle Ltd. | 814.5 | 12441.4 | 220.9 | 1.7 | 4.6 | 0.8 | 0.3 | 2486 | 35.8 | 14.8 | 106.7 | 3.7 | 128.6 |
| Sky Gold and Diamonds Ltd. | 719.4 | 11141.6 | 40.5 | 0.4 | 1.8 | 23 | 12.5 | 6331.3 | 76.8 | 275.3 | 107.5 | 17.8 | 107.5 |
Pushpa Jewellers INFORMATION ON IPO ISSUE
About Pushpa Jewellers
Pushpa Jewellers was incorporated on June 03, 2009. The company designs and manufactures traditional and modern gold jewellery for the B2B market. It specializes in intricate detailing using fine stones like emerald, jade, pearl, and meena. It has a pan-India presence and exports to countries such as the United States, Dubai, and Australia
Object of the Issue
- To meet the working capital requirements
- To finance establishment of proposed new showroom, i.e. capital expenditure cost for proposed new showroom & Inventory cost for the proposed new showroom
- General corporate purposes
- To meet out the issue expenses
Pushpa Jewellers - PROMOTERS
| Name |
|---|
| Mridul Tibrewal |
| Anupam Tibrewal |
| Madhur Tibrewal |
Pushpa Jewellers Book Running Lead Manager
Affinity Global Capital Market Private Limited
compliance@affinityglobal.in
Pushpa Jewellers Registrar to the issue
Cameo Corporate Services Limited
priya@cameoindia.com
Pushpa Jewellers Strengths
Distinctive design legacy
The company has established a strong brand identity under the name "Pushpa" in the B2B jewellery market over the past 15 years. It combines traditional craftsmanship with innovative design, offering a wide variety of products tailored to regional tastes and customer demographics. Designs span traditional, modern, and contemporary styles, and the company maintains long-standing relationships with skilled artisans
Quality standards
The company ensures high product quality by hallmarking all gold jewellery in accordance with Bureau of Indian Standards (BIS) norms. It procures gold from authorized bullion dealers and conducts rigorous two-stage quality checks—covering physical defects, polishing, and purity using advanced machines and gold testing equipment
Smart inventory systems
The company uses a technology-driven, color-coded Integrated Management System (IMS) to efficiently monitor and manage its inventory. Planning is done annually based on market trends, sales history, and demand forecasts. Each showroom's stock is optimized to reduce overstocking and waste
Pushpa Jewellers Risks
Raw material dependency
The company is heavily reliant on a few key suppliers for its raw materials. Any supply disruption or price volatility due to market fluctuations, government policies, or quality concerns could significantly impact production, pricing, and profitability
Artisan reliance risk
A large portion of the company's jewellery manufacturing depends on independent artisans (Karigars), who are not exclusively tied to the company. If these artisans face operational issues or are attracted by better terms from competitors, it could lead to production delays, increased costs, and difficulty in maintaining quality and scale
Gold price volatility
The company’s income, margins, and inventory value are directly affected by fluctuations in gold prices. Sudden increases can hurt sales volume and compress margins, while sharp declines may result in inventory write-downs
IPO FAQs
This IPO consists of an offer for sale of up to Rs 19.7 crore, of 1,341,000 shares. It also consists of a fresh issue of Rs 78.9 crore.
The promoters of the company are Mridul Tibrewal, Anupam Tibrewal and Madhur Tibrewal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 143.0 - 147.0.
The IPO application opens on Jun 30, 2025 and closes on Jul 02, 2025.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 143,000.0, the maximum value for this IPO is Rs 147,000.0.
This IPO will be allotted on Jul 03, 2025.
The refund will be credited to your account on Jul 04, 2025.
The allotted shares will be credited to your demat on Jul 04, 2025.
Pushpa Jewellers Ltd.’s shares listed on the stock exchanges on Jul 07, 2025.