Nityas Gems and Jewellery files draft papers to fund working capital through IPO

Gujarat-based diamond studded gold jewellery maker Nityas Gems and Jewellery has filed Draft Red Herring Prospectus with Securities and Exchange Board of India on March 30 for raising funds via IPO.

The public issue will comprise of solely fresh issue of 1.44 crore equity shares with no offer-for-sale component.

The company operates through two business models - business-to-business (B2B) manufacturing and distribution to retailers and wholesalers, and direct-to-consumer (D2C) omnichannel retail operations through its subsidiary, Ayaani Diamonds and Jewellery.

Nityas Gems plans to spend Rs 70 crore of proceeds from the IPO for working capital requirements, and the remaining amount for general corporate purposes.

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The company that competes with listed peers like Golkunda Diamonds & Jewellery, Goldiam International, and Renaissance Global has recorded profit of Rs 8.5 crore and revenue of Rs 88.5 crore for the six months period ended September 2025.

Profit for the fiscal 2025 more than doubled to Rs 9.7 crore from Rs 4 crore in previous year. Revenue in the same period surged 80.5 percent to Rs 96.8 crore from Rs 53.6 crore.

Choice Capital Advisors is appointed as the merchant banker for the Nityas Gems and Jewellery IPO.