Priority Jewels Ltd IPO

About Priority Jewels Ltd

Our Company was incorporated as Priority Jewels Private Limited at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated October 12, 2007, issued by the Registrar of Companies, Maharashtra at Mumbai. Our Company was converted from a private limited company to a public limited company pursuant to a board resolution dated February 1, 2025 and special resolution passed by the Shareholders at the EGM dated February 1, 2025. Consequently, the name of our Company was changed from `Priority Jewels Private Limited' to `Priority Jewels Limited' and a fresh certificate of incorporation was issued by the RoC on February 17, 2025.

In CY24 the domestic gold and diamond jewellery industry was valued at around Rs. 5,249 billion, and there was a CAGR of 23.4% during CY20 and CY24. Furthermore, the market is expected to grow at a compounded annual growth rate (CAGR) of 8.4% between CY25 and CY29 to Rs. 7,848 billion. In CY24, gold was the dominant material in India's retail gems and jewellery market, making up 82% of the total market share. It was followed by diamonds (10%), silver (4%), and other materials (4%). Further, the Indian light-weighted jewellery market was valued at Rs. 2,426 billion in CY24 and is projected to reach Rs. 4,558 billion in CY29P registering a CAGR of 13.4% from CY24 to CY29P. The rise of online retail and the influence of social media platforms are driving demand for contemporary designs, further contributing to the market's expansion. The Indian daily wear gems and jewellery market is valued at Rs. 745 billion in CY23 and has reached Rs. 848 billion in CY24 and is projected to grow to Rs. 1,366 billion by CY29P, reflecting a robust CAGR of 10% from CY24 to CY29P. The daily wear jewellery segment, including fashionable and fast-moving designs, is witnessing growing consumer interest. This shift is primarily driven by the demand for lightweight, stylish, and affordable jewellery suitable for everyday use. Younger demographics and urban consumers are increasingly prioritizing convenience, affordability, and trend-oriented designs.

We are engaged in designing, manufacturing and sale of a wide range of light-weight, affordable diamond-studded gold and platinum fine jewellery. We sell directly to independent jewellers and jewellery chains in India as well as select international markets. We supply our products to jewellery chains, including CaratLane Trading Private Limited, Kalyan Jewellers India Limited, Reliance Retail Limited, Malabar Gold & Diamonds FZCO, Tribhovandas Bhimji Zaveri Limited and Senco Gold Limited. Our ability to blend craftsmanship with innovation has enabled us to establish long-standing relationships with major Indian retail jewellery players, reinforcing our position as a trusted supplier to our customers. Our manufacturing process begins with designing and then involves rapid prototyping, model making, mould making, waxing, casting, sprue grinding, filing, polishing, stone setting, final polishing, rhodium plating, and quality control.

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