Pushpa Jewellers Limited, a traditional and modern B2B gold jewellery manufacturer, is set to launch its SME IPO on the NSE SME platform. The company showcases expertise in crafting high-end jewellery embedded with fine stones like Emerald, Jade, Meena, and Pearl, serving clients across India, Dubai, USA, and Australia.

IPO Details

Business Overview

Pushpa Jewellers operates primarily as a wholesale B2B jewellery brand, offering:

• Traditional and modern gold jewellery

• Intricately detailed ornaments with high-end stones like Emerald, Jade, Pearl, Meena

• Exports to USA, UAE, and Australia, with a strong pan-India presence

The company's focus on detailed craftsmanship and quality makes it a premium player in the jewellery manufacturing space.

Promoters & Leadership

The business is led by:

• Mr. Anupam Tibrewal (MD)

• Mr. Madhur Tibrewal (CFO)

• Mr. Mridul Tibrewal (CEO)

Each of them brings 20+ years of experience in the jewellery industry and is involved in day-to-day operations including procurement, sales, finance, and administration.

Financial Performance (₹ in Lakh)

📈 These numbers demonstrate a steady upward trajectory in revenue, profit, and operational efficiency, reflecting business scalability and growing market acceptance.

Valuation Metrics

✅ Strong return ratios and moderate P/E compared to industry average indicate fair valuation for an SME IPO.

Grey Market Premium (GMP)

• GMP Today: ₹17

• Upper Price Band: ₹147

• Expected Listing Price: ~₹164

• Implied Listing Gain: ~11.56%

The GMP suggests moderate listing gains, but actual listing depends on market conditions.

Strengths

• Established international footprint in the US, Dubai, and Australia

• Specialisation in high-value stone jewellery

• Strong financials and growing profitability

• Experienced promoter group with industry knowledge

Risks & Concerns

• Highly competitive jewellery market with established giants

• Dependence on export demand and gold price fluctuations

• SME IPO liquidity risks post listing

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  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.

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  The Upcoming IPOs in this week and coming weeks are Silky Overseas, Vandan Foods, Pushpa Jewellers, Cedaar Textile, Adcounty Media India, Marc Loire Fashions, Indogulf Cropsciences, Moving Media Entertainment, Valencia India, Neetu Yoshi, PRO FX Tech, Suntech Infra Solutions, Ace Alpha Tech.

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  The Current active IPO are 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.

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