IPO Details: Pushpa Jewellers Ltd.

Grey Market Premium (GMP) Update

• Current GMP: ₹17

• Issue Price (Upper Band): ₹147

• Expected Listing Price: ₹164

• Estimated Listing Gain: ~11.56%

Note: GMP is unofficial and speculative, and does not guarantee listing performance.

About Pushpa Jewellers Ltd.

Pushpa Jewellers is a B2B gold jewellery wholesaler with a national presence and international exports to:

• Dubai

• United States

• Australia

They specialize in high-detail traditional and modern jewellery using precious stones like Emerald, Jade, Pearl, and Meena. The company operates across multiple states in India and exports through established trade channels.

Leadership Team

• Anupam Tibrewal – Managing Director

• Madhur Tibrewal – Chief Financial Officer

• Mridul Tibrewal – Chief Executive Officer

Each promoter brings over 20 years of experience in the jewellery and gemstone industry.

Financial Performance Summary (₹ in Lakhs)

Valuation and Key Ratios

These metrics indicate that the IPO is moderately priced, considering the company's growth trajectory and profitability.

Use of IPO Proceeds

Funds raised will be used for:

• Working capital requirements

• Business expansion

• Operational upgrades

• General corporate purposes

Should You Apply for Pushpa Jewellers IPO?

Pros:

• Established brand with pan-India and global footprint

• Steady revenue and strong profit growth

• Robust return ratios (ROCE, ROE, RoNW)

• GMP suggests potential for listing gains

Cons:

• B2B model exposes the business to credit risk

• Volatility in gold prices and gemstone markets

• SME IPOs may experience limited post-listing liquidity

Expert View:
Risk-tolerant investors may consider applying for listing gains, backed by solid GMP and financials. Long-term potential depends on expansion strategy and global trade momentum.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investors are advised to consult with certified financial advisors and read all documents carefully before making investment decisions. Market conditions are subject to change.

The Upcoming IPOs in this week and coming weeks are Crizac, Silky Overseas, Vandan Foods, Pushpa Jewellers, Cedaar Textile, Adcounty Media India, Marc Loire Fashions, Neetu Yoshi.

The Current active IPO are Moving Media Entertainment, Valencia India, PRO FX Tech, Ace Alpha Tech, Indogulf Cropsciences, Suntech Infra Solutions, Rama Telecom, Supertech EV, Sambhav Steel Tubes, HDB Financials, Abram Food, Shri Hare-Krishna Sponge Iron, Icon Facilitators, Globe Civil Projects, Ellenbarrie Indutrial Gases, Kalpataru, AJC Jewel.

The Closed IPOs are Aakaar Medical Technologies, Safe Enterprises Retail Fixtures, Mayasheel Ventures.

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