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Priority Jewels sets IPO price band at ₹190 to ₹200 per share
The book-built IPO plans a fresh issue of ₹91.5 crore, with subscription running from August 28 to September 1.
Priority Jewels has set a public price band of ₹190 to ₹200 per share for its upcoming initial public offering, with a face value of ₹10, LiveMint Markets reported.
The IPO is structured as a book-built issue comprising a fresh issue of ₹91.5 crore, totaling 45,75,000 shares. The company plans to use ₹75 crore from the fresh proceeds for full or partial repayment or pre-payment of certain borrowings, with the remainder allocated to general corporate purposes.
Priority Jewels said the IPO will open for subscription on August 28 and close on September 1. Up to 50% of the net offer will be reserved for qualified institutional buyers, while at least 15% and 35% will be allocated to non-institutional investors and retail individual bidders, respectively.
The company intends to list its equity shares on both BSE and the National Stock Exchange of India. In addition to operating two manufacturing facilities in India for domestic and export markets, Priority Jewels designs, manufactures, and sells diamond-studded gold and platinum jewellery.
Latest closeGold $4,432.00 ▲1.6%|Platinum $1,756.80 ▲1.8%