How to Check Priority Jewels IPO Allotment Status

Priority Jewels Limited, incorporated in 2007, is engaged in the design, manufacture and sale of lightweight diamond-studded gold and platinum fine jewellery. The company primarily follows a B2B model, supplying jewellery to independent jewellers and organised jewellery chains in India and select international markets.

Its product portfolio primarily includes rings, earrings, pendants, mangalsutras, neckwear, bracelets and occasion-based couture jewellery. The company also manufactures lab-grown diamond jewellery against specific customer orders.

As of June 30, 2026, Priority Jewels had more than 200 customers, including 125 independent jewellers and 53 jewellery chains. Its customers include CaratLane Trading, Kalyan Jewellers India, Reliance Retail, Malabar Gold & Diamonds, Tribhovandas Bhimji Zaveri and Senco Gold. The company had a presence across 21 states and three Union Territories, along with exports to 13 countries.

Don’t Miss Out on the Next Big IPO – Invest With Just a Few Clicks!

Open Account Now

Priority Jewels IPO is a ₹91.50 crore book-built mainboard issue, comprising entirely a fresh issue of 45.75 lakh equity shares. There is no offer-for-sale component, meaning the proceeds from the issue, after expenses, will accrue to the company.

The IPO opened for subscription on August 28, 2026 and closed on September 1, 2026. The basis of allotment is scheduled for September 2, 2026, followed by refunds and credit of shares on September 3. The shares are scheduled to list on BSE and NSE on September 4, 2026.

The price band was fixed at ₹190 to ₹200 per share, with a lot size of 75 shares. At the upper end of the price band, the minimum retail investment for one lot works out to ₹15,000. Mefcom Capital Markets Limited is the book-running lead manager, while MUFG Intime India Private Limited is the registrar.

Registrar: MUFG Intime India Private Limited

BSE: BSE IPO Allotment Status Page

NSE: NSE IPO Allotment Status Page

Priority Jewels IPO Subscription Status

Priority Jewels IPO received substantial demand during its three-day bidding period. Based on the subscription snapshot provided, the issue was subscribed 98.19 times, with NIIs recording the highest subscription at 166.08 times.

The NII category recorded the highest demand in the supplied snapshot, reaching 166.08 times subscription on the closing day, compared with 42.34 times on Day 2.

The Retail category was subscribed 102.41 times, after rising from 3.07 times on the opening day to 39.02 times on Day 2.

The QIB category witnessed a substantial final-day increase, reaching 39.87 times subscription compared with 1.68 times on Day 2.

Overall subscription increased from 1.93 times on Day 1 to 29.06 times on Day 2, before reaching 98.19 times in the supplied Day 3 snapshot.

It is worth noting that the supplied figures differ slightly from final post-close exchange data. NSE-based reporting later showed the IPO subscribed 100.45 times overall, with QIBs at 39.87 times, NIIs at 166.49 times and Retail Investors at 106.76 times. The difference reflects the timing of the subscription snapshot; the table above retains the figures provided.

Priority Jewels IPO Share Price and Investment Details

Priority Jewels IPO price band was fixed at ₹190 to ₹200 per share, with a lot size of 75 shares. At the upper price of ₹200, the minimum retail investment for one lot is ₹15,000. Retail applicants could apply for up to 13 lots, or 975 shares, amounting to ₹1.95 lakh at the upper price.

The IPO has a total issue size of ₹91.50 crore and consists entirely of a fresh issue of 45.75 lakh equity shares. There is no offer for sale.

Based on final exchange data after the close of bidding, NIIs led demand at 166.49 times, followed by Retail Investors at 106.76 times and QIBs at 39.87 times, taking the overall subscription to 100.45 times.

Given the level of oversubscription across investor categories, competition for allotment is high. The basis of allotment is scheduled for September 2, 2026, ahead of the proposed September 4 listing.

Utilisation of IPO Proceeds 

Priority Jewels proposes to utilise ₹75 crore from the net IPO proceeds towards repayment or prepayment, in full or in part, of certain working-capital borrowings availed by the company. This represents the principal identified use of the proceeds.

Repayment of these borrowings is expected to reduce the company's outstanding debt and associated financing requirements. Priority Jewels reported total borrowings of approximately ₹102.59 crore as of March 31, 2026, which subsequently stood at ₹110.49 crore as of June 30, 2026.

The remaining eligible proceeds are proposed to be utilised towards general corporate purposes, subject to applicable regulations and the limits specified in the offer documents.

Since the entire ₹91.50 crore IPO is a fresh issue, there is no OFS component and therefore no portion of the IPO proceeds will be paid to selling shareholders.

Business Overview 

Priority Jewels operates primarily as a B2B fine jewellery manufacturer, supplying lightweight diamond-studded gold and platinum jewellery to independent retailers, organised jewellery chains and customers in select overseas markets.

The company's manufacturing process spans design development, rapid prototyping, casting, stone setting, polishing, rhodium plating and quality inspection. It operates two manufacturing facilities in Mumbai with a combined area of approximately 25,831 square feet and installed manufacturing capacity of 700 kg annually.

Its product-development capabilities are supported by a dedicated design team. Priority Jewels created 8,356 designs during FY26 and 4,168 designs during the quarter ended June 2026, allowing it to regularly refresh its portfolio across everyday and occasion-based jewellery categories.

The company's geographical reach extends across 21 states and three Union Territories in India, while its export operations cover 13 countries, including the United States, UAE, Hong Kong and Norway. Several of its customer relationships have continued for between eight and 16 years.

Priority Jewels reported total income of ₹539.03 crore in FY26, compared with ₹435.87 crore in FY25 and ₹410.61 crore in FY24. Profit after tax increased to ₹17.65 crore in FY26, from ₹10.51 crore in FY25 and ₹7.15 crore in FY24.

For the quarter ended June 30, 2026, the company reported sales of approximately ₹146.73 crore and consolidated net profit of ₹6.69 crore. During the quarter, domestic sales contributed 50.44% of revenue, while exports accounted for 49.56%.

Key strengths include its diversified jewellery portfolio, integrated manufacturing facilities, in-house design capabilities, longstanding customer relationships, established presence across domestic and international markets and relationships with major organised jewellery retailers.

Investors should also consider risks associated with customer concentration, fluctuations in gold and diamond prices, absence of long-term raw-material supply agreements, dependence on two manufacturing facilities in Maharashtra, working-capital requirements and concentration within the jewellery business. The company's top ten customers accounted for more than 53% of revenue, highlighting customer-concentration risk.