Nityas Gems & Jewellery IPO
Nityas Gems and Jewellery Limited is one of the leading companies in terms of diamond-studded gold jewellery. The company operates its business in two ways: 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.
IPO GMP
+₹1
+5% expected gain
Price Band
₹75
Lot Size
—
Min Investment
—
Listing Date
—
About Nityas Gems & Jewellery
Company overview, business, and key facts.
Nityas Gems and Jewellery Limited is one of the leading companies in terms of diamond-studded gold jewellery. The company operates its business in two ways: 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.
Its gold product portfolio includes rings, earrings, pendants, bracelets, mangalsutras, nose pins, necklaces, cufflinks, and bangles. The firm handles every process, from sourcing raw materials, designing, manufacturing, quality checks, distribution, and selling of products. Moreover, the firm also sells its products to other major jewellery brands such as GIVA, Palmonas, ONYA, and Ladia Diamonds.
Headquarters
Surat, Gujarat
Promoters
Rajnikant Lallubhai Chanchad, Sonalben Rajnikant Chanchad, Savaliya Dhruv Janakbhai
Website
https://www.nityas.in/
IPO Details
Subscription Status
How many times each investor category has bid for the issue.
Strengths & Risks
Strengths
- Integrated B2B & D2C Model: The firm integrates its B2B offerings with D2C model using Ayaani that has been acquired in July 2025. The number of its B2B customers increased from 74 in FY 2024 to 323 in FY 2026 and these customers are distributed over 18 states and 2 Union territories, while Ayaani operates 10 stores in 8 cities along with an online store.
- In-house Design & Manufacturing: Its facility of 7,000 sq. ft. located in Surat has an annual capacity of 360 kg of jewellery and it manufactures its jewellery through casting, setting and polishing processes in-house. Using CAD/CAM technologies, it has a library of over 32,000 designs which enable it to fulfill standard and customized orders of the retailers.
- Well-Placed to Capitalize on Growing Lab-Grown Diamond Market: As per CareEdge report, the lab-grown diamond jewellery market in India is expected to grow at a CAGR of 15.8% from ₹34,501 million in CY25 to ₹71,890 million in CY30, while the global market is likely to touch USD 9,406 million in CY30 mainly due to affordability.
Risks
- Customer Concentration Risk: Top 10 customers accounted for 55.49%, which is ₹1,125.95 million, of the revenue from operations in Fiscal 2026, compared to 76.68% and 84.24% in the previous two fiscal years. Largest customer accounted for 12.98%. Any loss or reduction in business with these customers may impact the revenue and profitability.
- Geographic Revenue Concentration Risk: Gujarat, Karnataka, Telangana, Tamil Nadu and Maharashtra collectively accounted for 85.03%, 92.71% and 94.42% of revenue from operations in Fiscal 2026, 2025 and 2024. Gujarat alone accounted for 37.40% in Fiscal 2026, hence any adverse situation in this region can impact the operations significantly.
- Working Capital Requirement: Working capital requirement on standalone basis increased from ₹67.65 million in Fiscal 2024 to ₹449.46 million in Fiscal 2026 due to increase in inventory and receivable management. Working capital requirement will be met through some portion of Net Proceeds. Failure to raise/manage working capital would impact the operations and cash flows.
Nityas Gems & Jewellery IPO Key Numbers
Calculated by IPOLyst from the published offer-document data. These are figures, not buy or sell calls.
Scenarios apply today's grey market premium figures to the upper price band. They are illustrations, not predictions. GMP is unofficial and can be wrong.
Not yet available for this IPO: issue size, financials, post-IPO share count (market cap and P/E not computable), listed peer comparison, use of proceeds.
IPO Analysis SummaryAI-generated
A plain-language review of Nityas Gems & Jewellery's financials, valuation and demand, based only on the verified figures above. For information only. It does not recommend whether to apply.
Nityas Gems & Jewellery IPO Review
Analysis based on live GMP, subscription, and issue details.
As of today, Nityas Gems & Jewellery IPO is trading at a grey market premium (GMP) of +₹1 (+5% estimated listing gain), indicating positive market sentiment.
The IPO has been subscribed 2.25x overall — QIB: 1.06x, NII: 2.05x, Retail: 4.04x.
Nityas Gems & Jewellery IPO subscription has closed.
Key strengths include: Integrated B2B & D2C Model: The firm integrates its B2B offerings with D2C model using Ayaani that has been acquired in July 2025. The number of its B2B customers increased from 74 in FY 2024 to 323 in FY 2026 and these customers are distributed over 18 states and 2 Union territories, while Ayaani operates 10 stores in 8 cities along with an online store.; In-house Design & Manufacturing: Its facility of 7,000 sq. ft. located in Surat has an annual capacity of 360 kg of jewellery and it manufactures its jewellery through casting, setting and polishing processes in-house. Using CAD/CAM technologies, it has a library of over 32,000 designs which enable it to fulfill standard and customized orders of the retailers.. Investors should note the following risks: Customer Concentration Risk: Top 10 customers accounted for 55.49%, which is ₹1,125.95 million, of the revenue from operations in Fiscal 2026, compared to 76.68% and 84.24% in the previous two fiscal years. Largest customer accounted for 12.98%. Any loss or reduction in business with these customers may impact the revenue and profitability.; Geographic Revenue Concentration Risk: Gujarat, Karnataka, Telangana, Tamil Nadu and Maharashtra collectively accounted for 85.03%, 92.71% and 94.42% of revenue from operations in Fiscal 2026, 2025 and 2024. Gujarat alone accounted for 37.40% in Fiscal 2026, hence any adverse situation in this region can impact the operations significantly..
Disclaimer: IPO GMP is indicative and sourced from the grey market. This is not investment advice. Please consult a SEBI-registered advisor before investing.
Nityas Gems & Jewellery IPO — Frequently Asked Questions
What is Nityas Gems & Jewellery IPO GMP today?
Nityas Gems & Jewellery IPO GMP (grey market premium) today is +₹1, suggesting an estimated listing gain of +5%. GMP is indicative and subject to change.
What is the price band of Nityas Gems & Jewellery IPO?
The price band for Nityas Gems & Jewellery IPO is ₹75.
When is Nityas Gems & Jewellery IPO allotment date?
The allotment date for Nityas Gems & Jewellery IPO has not been confirmed yet. Typically, allotment is finalised 6 days after the IPO closes.
When will Nityas Gems & Jewellery IPO list on NSE/BSE?
The listing date for Nityas Gems & Jewellery IPO has not been announced yet. IPOs typically list 6 days after subscription closes.
How to check Nityas Gems & Jewellery IPO allotment status?
To check Nityas Gems & Jewellery IPO allotment status, visit the registrar's website and enter your PAN number, application number, or DP/Client ID. You can also check on the BSE IPO allotment page at https://www.bseindia.com/investors/appli_check.aspx.
Should I apply for Nityas Gems & Jewellery IPO?
Nityas Gems & Jewellery IPO has a GMP of +₹1. Before applying, review the company's financials, business model, issue structure (OFS vs fresh issue), and sector outlook. IPOLyst is not a SEBI-registered investment advisor — please consult a qualified financial advisor before investing.
What is the lot size of Nityas Gems & Jewellery IPO?
The lot size for Nityas Gems & Jewellery IPO has not been announced yet. Please check back closer to the IPO open date on ipolyst.com.