Nityas Gems & Jewellery IPO

About the company

Nityas Gems and Jewellery Limited, incorporated in 2022, is engaged in the entire value chain of lab-grown diamond (LGD) studded gold jewellery, which includes sourcing, designing, production, quality testing, distribution and selling processes. The product range includes rings, earrings, pendants, bracelets, mangalsutras, nose pins, necklaces, cuff links, and bangles in lightweight and affordable jewellery options for daily wear, occasions, men, and customised segments. The B2B business is mainly aimed at organised retailers, single-store retailers, and wholesalers where the prominent customers include GIVA, Palmonas, ONYA, and Ladia Diamonds. In July 2025, Nityas Gems and Jewellery had invested a 50.04% stake in Ayaani Diamonds and Jewellery Private Limited worth ₹24.11 crore, thereby enabling the enterprise to adopt the D2C model through their online platform and ten stores operating in eight cities, among which seven were company-owned, while the other three stores were franchise-operated till August 31, 2026. B2B contributed 95.5% of FY26 revenue, while D2C contributed 4.3%. Within B2B, standalone retailers accounted for 42.7% of FY26 revenue, wholesalers 28.2% and retail chains 24.5%. The B2B customer base increased from 74 in FY24 to 108 in FY25 and 323 in FY26. The top customer, top five and top ten customers generated 12.98%, 40.02% and 55.49% of FY26 revenue, respectively. The operations are based on a 7,000 sq. ft. Surat-based facility having an installed capacity of 360 kg per year. FY26 output is up to 162.77 kg from 72.49 kg in FY24, with utilisation up to 45.21% from 20.14%. Design-wise, as of the end of FY26, the company had 29 employees; by August 31, 2026, it had 122 Karigars working in-house and over 32,000 designs, against about 3,000 designs as of FY23. Designs made using CAD/CAM, production in-house and multi-level quality checks help in fulfilling both standard and custom orders. India accounted for 97.44% of FY26 sales, whereas exports were 2.56%. Gujarat has 37.40%, Karnataka 23.42%, Maharashtra 11.83% and Telangana 8.61% of FY26 sales. The firm provides products to its B2B customers in 18 different states and two union territories, whereas Ayaani brings in direct retail reach for the company. The firm has plans for designing-led product lineups and B2B/D2C data-led product and inventory decisions, as well as Ayaani expansion via Tier-2/Tier-3 franchisee-based expansions and potential shop-in-shop concepts. While such moves can lead to increased involvement into both channels and products, implementation will involve disciplined inventory management, customer acquisition, and brand-building efforts. The LGD jewellery market in India is projected to increase from ₹13,738 million in CY20 to ₹34,501 million in CY25 and could reach ₹71,890 million in CY30, indicating a CAGR of 15.8% in CY25-CY30. Growth drivers include affordability of LGDs, better efficiency in production technologies like CVD/HPHT, young consumers' emphasis on transparency and design, omnichannel selling, and non-metro expansion. Lightweight positioning, a 32,000+ design lineup, available manufacturing capacity, and B2B/D2C coverage provide Nityas with relevant operating levers to be part of such expansion, though industry expansion doesn't necessarily mean issuer expansion. The segment is also bound by certain constraints like low perceived value retention compared to natural diamonds, lack of consumer awareness and presence at retail stores, drop in LGD prices, dependence on imported technology and increasing competition from the international market. The hallmarking and certification guidelines of BIS, the recognised 4C system of grading, as well as the regulatory bodies like DGFT and GJEPC, facilitate trade compliance. However, for Nityas, aspects like internal designing and quality control, customer feedback and certification are relevant, but its revenue generation pattern makes certain aspects significant. Now, Nityas Gems & Jewellery Ltd is launching its Initial Public Offering (IPO), which consists of a fresh issue of ₹108.35 crore. Its shares will be listed on the NSE and BSE. ### **How to apply for Nityas Gems & Jewellery IPO?** If you are interested in this investment opportunity but unsure how to apply for an Nityas Gems & Jewellery IPO, follow these steps. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Nityas Gems & Jewellery IPO on Upstox: - Log in to your Upstox account using your six-digit PIN - After logging in, click on ‘Discover’ - On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Nityas Gems & Jewellery IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   30 Sept 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   05 Oct 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   06 Oct 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   07 Oct 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   07 Oct 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   08 Oct 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.