Mumbai-based fine jewellery brand Priority Jewels Ltd. has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering (IPO). According to the DRHP dated April 30, 2025, the IPO consists solely of a fresh issue of up to 54,00,000 equity shares with a face value of ₹10 each. There is no offer for sale component in this IPO​.

The company, known for its affordable and lightweight diamond-studded gold and platinum jewellery, will use the proceeds to fund its expansion and growth plans. The issue is being made through a 100% book-building process and the equity shares are proposed to be listed on both BSE and NSE.

Priority Jewels, incorporated in 2007 and converted into a public limited company in February 2025, is promoted by Shailesh Sangani, Manisha Shailesh Sangani, Tushar Mehta, Aditi Karan Motla, Aashna Sangani Parikh, and Priority Retail Ventures Pvt Ltd.

Mefcom Capital Markets Ltd. is acting as the Book Running Lead Manager (BRLM) for the issue, while MUFG Intime India Pvt. Ltd. is the registrar.

The company has reserved portions of the issue for Qualified Institutional Buyers (QIBs), Non-Institutional Bidders (NIBs), and Retail Individual Bidders (RIBs), in line with SEBI ICDR regulations. Anchor investors may also be allocated up to 60% of the QIB portion on a discretionary basis.

Further details regarding the price band, minimum bid lot, and final issue size will be announced closer to the opening of the bidding window.