Pushpa Jewellers Limited IPO

IPO Details		RHP:
Bidding Date 30 June’2025	IPO Price Range ₹143 to ₹147 per share	IPO Size ₹98.65 Cr
Listing Exchange NSE SME	Listing Date 7 July’2025	Lot Size 1000 Shares

Minimum Investment
₹1,43,000 / 1000shares

IPO Timeline

Open Date 30 June 2025

Close Date 2 July 2025

Allotment Finalisation 3 July’2025

Demat Transfer 4 July’2025

Refund Initiation4 July’2025A

Listing7 July’2025

Started in 2009 as a private company in Kolkata, Pushpa Jewellers Limited became a public company in July 2024. Today, it trades gold jewellery wholesale to its clients anywhere in India and has interests overseas. The company designs, makes, and retails classic and modern gold jewellery containing fine stones such as Emerald, Jade, Pearl and Meena. The company provides for bulk buyers, retailers and institutional clients across India and exports to the UAE, USA and Australia. Thanks to over a decade of experience, Pushpa Jewellers blends fine traditions with modern trends to make stunning necklaces, bracelets, rings and earrings. The company plans to use the money raised by its IPO of up to 67,11,000 equity shares to support operations, boost expansion and make its brand more visible to customers.

Pushpa Jewellers Limited IPO Subscription Status

Date	QIB	NII	Retail	Total
TBA	0	0	90	0
TBA	0	0	0	0

Pushpa Jewellers Limited IPO Financial Status

Particulars (in Rs. Crores)	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	91.10	51.46	43.39
Revenue	281.27	255.49	165.84
Profit After Tax	22.29	13.58	8.14
Net Worth	58.14	36.08	22.5
Reserves and Surplus	39.28	35.84	22.27
Total Borrowing	21.93	8.26	14.79

Pushpa Jewellers Limited IPO SWOT Analysis

Strengths

Diverse Product Line: Sells a wide selection of older styles and fashionable jewellery using gems, such as emeralds and pearls, to suit different buyers.
Established B2B Wholesaler: The company has grown as an established wholesaler in India and is now exporting to Dubai, the USA, and Australia.
Experienced Leadership: Promoted by the Tibrewal family, who have built longstanding supplier and client relationships across the jewellery ecosystem.
Operational Safeguards: Implements security protocols including CCTVs, armed guards, daily stock audits, and insurance coverage to reduce inventory and transit risks.

Weaknesses

Compliance Lapses: A lot of delayed GST, EPF and ESIC filings in West Bengal, Telangana and Tamil Nadu between FY23 and FY25, which the company said were caused by issues with procedures or technology.
Promoter Concentration: High dependence on promoters for strategy and operations may impact business continuity if leadership changes unexpectedly.
Logistics Risk: Relies on third-party transport for product delivery; rising costs or infrastructure limitations may affect operations and margins.
Foreign Exchange Sensitivity: Imports of raw materials and foreign market exposure make earnings susceptible to currency fluctuations, despite partial hedging plans.