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Pushpa Jewellers IPO
Price Band
₹143.0–147.0
Issue Size
₹98.65 Cr
Lot Size
1,000 shares
Min Investment
₹147,000
GMP
—
Issue Price
₹147.0
Pushpa Jewellers IPO AI Summary
- Pushpa Jewellers IPO is listed on NSE SME in the Gems, Jewellery And Watches sector.
- Price band: ₹143.0–₹147.0 per share, lot size 1,000 shares (min. investment ₹147,000).
- Subscription window: 30 Jun–02 Jul 2025, listing on 07 Jul 2025.
Pushpa Jewellers Limited is a jewellery manufacturer with a strong market presence and a range of products. The company has shown consistent growth in revenue and profit, and its IPO aims to raise funds for working capital and expansion. Investors should carefully consider their risk profile before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Pushpa Jewellers IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 02 Jul 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Pushpa Jewellers IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in June 2009, Pushpa Jewellers Limited is a jewellery manufacturer specializing in lightweight 22kt designs that blend traditional Indian craftsmanship with modern aesthetics. The company sells a range of Traditional and Modern Gold jewellery. The company offers diverse high-quality jewellery, including necklaces, rings, earrings, bangles, bracelets, pendants, Mangal sutras, and kadas. The company operates in various regions in India and exports jewellery to international markets like Dubai, the United States, and Australia. The company operates three branches, which function as offices and showrooms, located in Hyderabad, Bangalore, and Chennai, India. As of March 31, 2025, the company had approximately 90 employees at various organisational levels. Competitive Strength: Distinctive Brand Identity and Innovative Design. Experience of our Promoters and senior management team. Efficient Inventory Management. Quality assurance. Safety, Security and Surveillance Systems.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 91.10 | 51.46 | 43.39 |
| Total Income | 281.27 | 255.49 | 165.84 |
| Profit After Tax | 22.29 | 13.58 | 8.14 |
| NET Worth | 58.14 | 36.08 | 22.50 |
| Reserves and Surplus | 39.28 | 35.84 | 22.27 |
| Total Borrowing | 21.93 | 8.26 | 14.79 |
Key Ratios
EPS
₹11.82
NAV
₹30.83
ROE
47.31%
ROCE
27.84%
RoNW
38.34%
P/B Value
4.77
P/E Ratio
12.44
Market Cap
₹356.08 Cr
PAT Margin
7.93%
Debt/Equity
0.38
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Khazanchi Jewellers Ltd | 93.52 | 19.41% | 30.98 | 18.15 | 18.15 |
| Sky Gold Ltd | 336.63 | 16.67% | 5.52 | 56.13 | 56.13 |
| Pushpa Jewellers Limited This IPO | 30.84 | 38.34% | — | 11.82 | 11.82 |
Promoters
idul Tibrewal, Anupam Tibrewal and Madhur Tibrewal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To meet working capital Expenses 45.39 2 To Finance Establishment of proposed new showroom - Cost of Capital expenditure for the proposed new showroom 1.90 3 Cost of Inventory for the proposed new showroom 3.46 4 General Corporate Purposes 19.51 5 To meet the Offer Related Expenses 8.68 Total 78.94
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹165.84 Cr in the year ending 31 Mar 2023, increasing to ₹255.49 Cr by 31 Mar 2024, and further rising to ₹281.27 Cr by 31 Mar 2025. This shows a consistent upward trend in revenue over the three periods.
Profit Trend
Profit after tax was ₹8.14 Cr in the year ending 31 Mar 2023, which increased to ₹13.58 Cr by 31 Mar 2024, and further rose to ₹22.29 Cr by 31 Mar 2025. This indicates a positive growth in profitability across the periods.
Valuation
At the issue price of ₹147.0, Pushpa Jewellers has an implied P/E ratio of 12.44, compared to its peers, which have P/E ratios ranging from 5.52 to 30.98.
Grey Market Premium, Explained
The grey market is an unofficial market where shares are traded before they are officially listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of the shares based on demand and supply dynamics in this unofficial market.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's growth potential and market conditions.
Who May Want to Wait
Investors with a low risk tolerance or those seeking guaranteed returns may want to avoid IPOs, as they can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO process includes several key dates: the opening date for subscription is June 30, 2025, the closing date is July 2, 2025, the allotment date is July 3, 2025, and the expected listing date is July 7, 2025.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make if the shares are listed at a higher price than the issue price. However, these gains are not guaranteed and can be affected by market conditions and investor sentiment on the listing day.
This evaluation is generated from Pushpa Jewellers's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Pushpa Jewellers IPO?
The price band of Pushpa Jewellers IPO is ₹143.0–₹147.0 per share.
When does Pushpa Jewellers IPO open and close?
Pushpa Jewellers IPO opens on 30 June 2025 and closes on 02 July 2025.
When does Pushpa Jewellers IPO list on the stock exchange?
Pushpa Jewellers IPO listed on 07 July 2025 at ₹147.0.
What is the lot size for Pushpa Jewellers IPO?
The lot size for Pushpa Jewellers IPO is 1000 shares, requiring a minimum investment of ₹147,000.
What is the lot size for Pushpa Jewellers IPO?
The lot size for Pushpa Jewellers IPO is 1000 shares.
What is the minimum investment required?
The minimum investment required is ₹147,000.
What is the price band for the IPO?
The price band for the IPO is ₹143.0 to ₹147.0.
When does the IPO open and close?
The IPO opens on June 30, 2025, and closes on July 2, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the shares based on demand and supply in the unofficial market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
30 Jun 2025
Close
02 Jul 2025
Allotment
03 Jul 2025
Listing
07 Jul 2025
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