Pushpa Jewellers Limited is a B2B gold jewellery manufacturer renowned for its lightweight 22kt gold designs that elegantly fuse traditional Indian craftsmanship with contemporary appeal. With a legacy built on trust and timeless design, Pushpa has steadily grown its footprint in both domestic and international markets.
From intricately crafted necklaces and earrings to statement bangles, bracelets, rings, mangalsutras, and kadas, the brand delivers jewellery that resonates with both cultural roots and modern tastes.
The company operates through a well-integrated business model:
🏢 Domestic Operations: Via three strategically located branches in Hyderabad, Bengaluru, and Chennai, serving as both offices and showrooms.
🌍 International Exports: Jewellery is exported to global markets such as Dubai, the United States, and Australia, expanding Pushpa’s reach beyond borders.
Production is supported by skilled karigars based in Kolkata, known for their meticulous craftsmanship. Pushpa’s in-house design capabilities and efficient workflow ensure both quality and timely deliveries for its B2B clientele.
Product Portfolio Highlights:
💫 Lightweight 22kt Gold Jewellery
👑 Necklaces, Earrings, Bangles, Rings
🧿 Stone-studded Pieces with Emeralds, Pearls, Meena, Jade
💍 Traditional & Contemporary Gold Designs
🔗 Bracelets, Kadas, and Mangalsutras
As of March 31, 2025, Pushpa Jewellers employs approximately 90 people across various organizational levels, fueling its expansion with expertise and precision.
Pushpa Jewellers IPO – Details
| IPO Opening Date | 30 June 2025 |
| IPO Closing Date | 02 July 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 67,11,000 Shares Worth ₹98.65 Crore Fresh Issue: 53,70,000 Shares Worth ₹78.94 Crore Offer For Sale: 13,41,000 Shares Worth ₹19.71 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹143 – ₹147 per share |
| Market Lot | 1,000 |
| Min Order | 1,000 Shares ( 1 Lot ) |
| Listing At | NSE SME |
| Registrar | Cameo Corporate Services Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Pushpa Jewellers IPO – Date Schedule
| IPO Open Date | 30 June 2025 |
| IPO Close Date | 02 July 2025 |
| Basis of Allotment | 03 July 2025 |
| Initiation of Refund | 04 July 2025 |
| Credit of Shares to Demat | 04 July 2025 |
| IPO Listing Date | 07 July 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 02, 2025 |
Pushpa Jewellers IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,47,000 |
| Retail (Max) | 1 | 1,000 | ₹1,47,000 |
| HNI (Min) | 2 | 2,000 | ₹2,94,000 |
Competitive Strengths
- 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 Promoters
- Mr. Mridul Tibrewal
- Mr. Anupam Tibrewal
- Mr. Madhur Tibrewal
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹165.84 Cr | ₹153.92 Cr | ₹8.14 Cr | ₹14.79 Cr |
| 31 March 2024 | ₹255.49 Cr | ₹237.33 Cr | ₹13.58 Cr | ₹8.26 Cr |
| 31 March 2025 | ₹281.27 Cr | ₹251.47 Cr | ₹22.29 Cr | ₹21.93 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 47.31% |
| ROCE | 27.84% |
| Debt/Equity | 0.38 |
| RoNW | 38.34% |
| PAT Margin | 7.93% |
| EBITDA Margin | 11.30% |
| Price to Book Value | 7.68 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.82 | 9.20 |
| P/E (x) | 12.10 | 15.98 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| To meet working capital Expenses. | ₹45.39 |
| To Finance the Establishment of the proposed new showroom. | |
| Cost of Capital expenditure for the proposed new showroom. | ₹1.90 |
| Cost of Inventory for the proposed new showroom. | ₹3.46 |
| General Corporate Purposes. | |
| To meet the offer related expenses. |
Pushpa Jewellers IPO Peer Comparison
| S.No. | Face Value | Company Name | P/E |
|---|---|---|---|
| 2 | 10 | Sky Gold Limited | 5.52 |
| 3 | 10 | Khazanchi Jewellers Limited | 30.98 |
✅Strengths
- Established brand with 15+ years in B2B jewellery.
- Wide range of traditional & modern designs.
- Tech-enabled inventory & quality control.
- Strong promoter experience.
- Presence in key Indian cities & exports to UAE, US, Australia.
⚠️Risks
- High customer concentration.
- Volatile gold & gem prices.
- Regulatory updates pending post name change.
- Labour-intensive operations.
Pushpa Jewellers IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | – |
Pushpa Jewellers IPO Prospectus
Company Contact Information
| Pushpa Jewellers Limited Unit 4A, Tirumala 22, Premises No. 22, East Topsia Road, Kolkata, West Bengal, 700046 Phone: 033 4006 3154 Email: cs@pushpajewellers.in Website: http://www.pushpajeweller.com/ |
Pushpa Jewellers IPO Registrar
| Cameo Corporate Services Limited Phone: +91-44-28460390 Email: investor@cameoindia.com Website: https://ipo.cameoindia.com/ |
Pushpa Jewellers IPO Lead Manager(s)
| 1. Affinity Global Capital Market Private Limited |
Pushpa Jewellers IPO FAQ
| What is Pushpa Jewellers IPO? Pushpa Jewellers IPO is a SME IPO. The issue is priced at ₹143 to ₹147 per equity share. The IPO is to be listed on NSE SME. |
| When Pushpa Jewellers IPO will open? The IPO is to open on 30 June 2025 for QIB, NII, and Retail Investors. |
| What is Pushpa Jewellers IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Pushpa Jewellers IPO? You can apply Pushpa Jewellers IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Pushpa Jewellers IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Pushpa Jewellers IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Pushpa Jewellers IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Pushpa Jewellers IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Pushpa Jewellers IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Pushpa Jewellers IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Pushpa Jewellers IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Pushpa Jewellers IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Pushpa Jewellers IPO Size? Pushpa Jewellers IPO size is ₹98.65 Crore. |
| What is the Pushpa Jewellers IPO Price Band? Pushpa Jewellers IPO Price Band is ₹143 to ₹147. |
| What is Pushpa Jewellers IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 1,000 Shares with ₹1,47,000 amount while the maximum bid is 1,000 Shares with ₹1,47,000. |
| What is the Pushpa Jewellers IPO Allotment Date? Pushpa Jewellers IPO allotment date is 03 July 2025. |
| What is the Pushpa Jewellers IPO Listing Date? Pushpa Jewellers IPO listing date is 07 July 2025. The IPO is to be listed on the NSE SME. |
