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Nityas Gems & Jewellery IPO

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Nityas Gems & Jewellery IPO Details

RHP/DRHP

Issue Date

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Price Range

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Lot Size

TBA

IPO Size

₹TBA Cr

About Nityas Gems & Jewellery IPO

The Nityas Gems & Jewellery IPO opens on TBA and closes on TBA. The allotment of shares will take place on TBA. The credit of shares to the demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA.

The offer consists of a fresh issue component. The fresh issue will include 1,44,56,000 shares

(aggregating up to ₹[TBA] crores). The total number of shares is 1,44,56,000 and the aggregate amount is yet to be finalised.

Nityas Gems & Jewellery IPO’s price band is set at TBA to TBA per share. The lot size for an application is TBA. The minimum amount of investment required by a retail investor is ₹TBA (TBA shares) (based on upper price). The minimum lot size investment for HNI is TBA.

Nityas Gems and Jewellery is engaged in the design, manufacturing and sale of lab-grown diamond studded gold jewellery in India. They offer a range of lab-grown diamond studded gold jewellery products across categories such as rings, earrings, pendants, bracelets, mangalsutras, nose pins, necklaces, cufflinks and bangles, across daily wear, occasion-based, men’s jewellery and customized segments. Their prominent B2B customers include established and organised jewellery retailers such as ‘GIVA’, ‘Palmonas’, ‘ONYA’, and ‘Ladia Diamonds’, among others.

Objectives of Nityas Gems & Jewellery IPO

  • Funding working capital requirements of the company.

Nityas Gems & Jewellery IPO Valuation

Nityas Ge​ms & Jewellery IPO Share Offer and Subscription Details

Industry Outlook

India has been the world's diamond polishing hub for decades, commanding over 90% of the global market in cutting and polishing for natural diamonds. This generational mastery of precision craftsmanship, housed in major centres like Surat and Mumbai, provides an immediate and formidable competitive advantage. The nation possesses a vast, highly skilled workforce of artisans who are expert in the complex craft of maximizing a diamond's yield, brilliance, and fire from a raw crystal. This ecosystem seamlessly translates to LGDs (Lab Grown Diamonds), allowing India to not only grow diamonds but to expertly cut, polish, grade, and certify them to the highest international standards.

While other countries may produce rough LGDs, India's dominance in the midstream—the value-adding stage—makes it an indispensable link in the global supply chain. It allows the country to export higher-value polished diamonds and semi-finished jewellery rather than low-margin rough stones. This integrated control, from growing to finishing, also enables greater supply chain efficiency, quality consistency, and faster turnaround times for global retailers and brands. By owning this critical part of the process, India secures its role not just as a factory, but as the essential craftsman of the global LGD market.

About Nityas Gems & Jewellery

Nityas Gems & Jewellery is 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 manufacturing and distribution to organized retailers, standalone retailers and wholesalers, to support their inventory and design requirements; and (ii) direct-to-consumer omnichannel retail operations through their subsidiary, Ayaani Diamonds and Jewellery Private Limited (“Ayaani”). While their product portfolio spans multiple price points and categories, they have strategically focused on the lightweight, affordable lab grown diamond-studded gold jewellery segment which caters to the growing demand for affordable luxury and daily-wear jewellery particularly among younger consumers.

Strengths of Nityas Gems & Jewellery

  • Integrated B2B and D2C business model with a growing and diversified customer base.

  • Manufacturing capabilities supported by in-house design and technology integration.

  • Well positioned to capitalize on the growth of lab grown diamond jewellery.

  • Skilled in-house workforce enabling quality control and reduced dependence on external job work.

  • Robust financial performance with consistent growth.

  • Experienced promoters and management team.

Risks of Nityas Gems & Jewellery

  • Their revenue from operations is significantly concentrated among a limited number of B2B customers.

  • A substantial portion of their revenue from operations is derived from a limited number of states in India, particularly Gujarat, Karnataka, Telangana, Tamil Nadu and Maharashtra.

  • Their business is dependent on the availability and price of lab-grown diamonds and gold bullion.

  • Their purchases are significantly concentrated among a limited number of suppliers.

  • Their manufacturing operations are concentrated at a single facility in Surat, Gujarat.

  • Their business is working capital intensive.

  • They are exposed to counterparty credit risk due to the extension of credit to their customers.

  • Demand for lab-grown diamond studded gold jewellery is discretionary in nature.

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P​eer Comparison

Source: All the financial information for listed industry peers mentioned above is on a consolidated basis (unless otherwise available only on standalone basis) and is sourced from the annual reports as available of the respective company for Fiscal 2025 submitted to stock exchanges and prospectus available on public domain. The financial information of Nityas Gems & Jewellery is based on the restated consolidated financial information for the Fiscal 2025. Notes: 1. P/E Ratio has been computed based on the closing market price of equity shares on NSE/BSE on March 20, 2026, divided by the Basic EPS for the year ended 31st March 2025. 2. Return on Net Worth (%) = Net Profit after tax, as restated for the year ended 31st March 2025, divided by Average Net worth for the year ended 31st March 2025. 3. Average net worth means the average of the net worth of current and previous financial year. Net worth means the aggregate value of the paid-up share capital and other equity (including non-controlling interest). 4. Net Asset Value per share = Net Worth attributable to Equity Shareholders(Equity Share capital together with and other equity as per Restated Consolidated Financial Information) at the end of the year divided by weighted average no. of equity shares outstanding during the year ended 31st March 2025. 5. The basic and diluted earnings per share for the Equity Shares of Nityas Gems & Jewellery has been presented to reflect the adjustments as per Ind AS 33.

Anchor Investor Bidding Date: TBA

Registrar: Bigshare Services Private Limited

Book Running Lead Managers: Choice Capital Advisors Private Limited

Nityas Gems & Jewellery Business Model

The company earns its revenue through designing, manufacturing and sale of lab-grown diamond studded gold jewellery in India, operating through an integrated business model comprising

(i) business-to-business manufacturing and distribution to organized retailers, standalone retailers and wholesalers, to support their inventory and design requirements.

(ii) direct-to-consumer omnichannel retail operations through their subsidiary, Ayaani Diamonds and Jewellery Private Limited (Ayaani).

Nityas Gems & Jewellery Growth Trajectory

Nityas Gems & Jewellery’s Total Income for FY25 was ₹96.848 crores, whereas in FY24 and FY23 it was ₹53.661 crores and ₹11.668 crores, respectively.

The Profit/ Loss After Tax for FY25 was ₹9.788 crores, whereas in FY24 and FY23 it was ₹4.024 crores and ₹0.245 crores, respectively.

Their EBITDA for FY25 was ₹12.901 crores, whereas in FY24 and FY23 it was ₹5.476 crores and ₹0.488 crores, respectively.

Nityas Gems & Jewellery Market Position

As of February 28, 2026, they are supported by their in-house design team comprising 29 full-time employees. Their design capability is reflected in a portfolio of over 28,000 jewellery designs.

Their B2B operations involve the design, manufacture and supply of lab-grown diamond studded gold jewellery to a network of jewellery retailers across 18 states and 2 union territories in India as well as to overseas customers in the United Arab Emirates, Australia, Canada, Taiwan and Kenya.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹96.848 crores, ₹9.788 crores, and ₹12.901 crores, respectively.

Nityas Gems & Jewellery Profit and Lo​​ss Statement (in ₹ crores)

Nityas Gems & Jewellery Balance Sheet (in ₹ crores)

Note: () denotes negative 

How to apply for Nityas Gems & Jewellery IPO?

  • Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.

  • Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.

  • Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  • Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  • Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Nityas Gems & Jewellery IPO FAQs

The Nityas Gems & Jewellery IPO opens for subscription from [-] to [-], with a total issue size of ₹TBA Cr. The IPO price band is ₹[-] per share with a lot size of TBA. The company aims to list the shares on BSE & NSE on [-].

The Nityas Gems & Jewellery IPO will open for subscription on [-] and will close on [-] for investors.

The minimum lot size for the Nityas Gems & Jewellery IPO is TBA equity shares, requiring a minimum investment of ₹[-] for retail investors applying in the IPO.

The price band of the Nityas Gems & Jewellery IPO has been fixed at ₹[-] per equity share.

You can apply for the Nityas Gems & Jewellery IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.

Nityas Gems & Jewellery IPO allotment will take place on [-].

You can check the Nityas Gems & Jewellery IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.

Nityas Gems & Jewellery shares will list on the stock exchanges on [-].

You can find detailed information about the Nityas Gems & Jewellery IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).

Rajnikant Lallubhai Chanchad is the Chairman and Managing Director of Nityas Gems & Jewellery.

This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Neo Research Team, nor is it a report published by the Kotak Neo Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their own research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.

Investments in securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed SEBI prescribed limit. The securities are quoted as an example and not as a recommendation. SEBI Registration No-INZ000200137 Member Id NSE-08081; BSE-673; MSE-1024, MCX-56285, NCDEX-1262.

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