Nityas Gems & Jewellery IPO 2026: Today's Latest Updates
The Indian jewellery market is changing as consumers increasingly look for modern designs, competitive pricing and alternative diamond options. Lab-grown diamonds have also created a new segment within the jewellery industry, particularly among customers looking for diamond jewellery at different price points.
Nityas Gems & Jewellery Limited is entering the mainboard IPO market with a ₹108.35 crore issue to strengthen its working capital position and support its business operations. The IPO has attracted attention because of its integrated B2B and D2C model and its focus on lab-grown diamond jewellery.
The issue is currently open for subscription and investors can bid between ₹70 and ₹75 per share.
About Nityas Gems & Jewellery
Nityas Gems & Jewellery Limited was incorporated in April 2022 and operates in the design, manufacturing and sale of lab-grown diamond-studded gold jewellery.
The company's business model combines wholesale and retail channels. Its B2B operations supply jewellery to standalone retailers, wholesalers and organised retail chains, while its D2C business operates through its subsidiary Ayaani Diamonds and Jewellery Private Limited.
This gives the company exposure to both traditional jewellery distribution and direct consumer sales.
Nityas Gems & Jewellery IPO Details
| Particulars | Details |
|---|---|
| IPO Type | Mainboard Book Building Issue |
| IPO Open Date | 30 September 2026 |
| IPO Close Date | 5 October 2026 |
| Price Band | ₹70 – ₹75 per Share |
| Face Value | ₹5 per Share |
| Issue Size | ₹108.35 Crore |
| Fresh Issue | ₹108.35 Crore |
| Offer for Sale | Nil |
| Lot Size | 200 Shares |
| Minimum Retail Investment | ₹15,000 |
| Retail Maximum | ₹1,95,000 |
| Allotment Date | 6 October 2026 |
| Refund / Share Credit | 7 October 2026 |
| Tentative Listing Date | 8 October 2026 |
| Listing Exchange | BSE & NSE |
| Registrar | Bigshare Services |
| Lead Manager | Choice Capital Advisors |
The IPO is completely a fresh issue, so the proceeds are being raised by the company rather than existing shareholders through an OFS. Around ₹70 crore of the proceeds is proposed for working capital, with the balance intended for general corporate purposes.
Nityas Gems & Jewellery IPO GMP Today
As of 2 October 2026, available grey-market trackers are reporting GMP around ₹3–₹4 per share. At the upper price band of ₹75, that indicates an unofficial premium of roughly 4%–5%.
| GMP Indicator | Current Update |
|---|---|
| IPO Upper Price | ₹75 |
| Latest GMP | Around ₹3–₹4 |
| Indicative Price | Around ₹78–₹79 |
| Indicative Premium | Around 4%–5% |
GMP is an unofficial and unregulated market indicator. It can change before listing and should not be treated as a guaranteed listing price.
Nityas Gems & Jewellery IPO Subscription Status
The IPO is currently in its subscription period. The latest available figures show that demand has been building across investor categories, with retail participation being particularly visible. One market tracker reported total subscription of around 0.69x at the end of Day 2, while category-wise figures showed retail at around 1.32x.
Subscription figures can change throughout the day as fresh bids are received, so the final numbers will be available only after the issue closes.
Business Model
Nityas Gems & Jewellery follows a combination of B2B and D2C operations.
Its B2B business contributed the majority of FY2026 operating revenue, while the D2C business operates under the Ayaani brand through online and physical retail channels.
According to available financial information, FY2026 operating revenue was approximately ₹202.89 crore, with B2B contributing about 95.58% of the total and D2C contributing the remaining portion.
This model gives the company access to established jewellery distribution networks while also allowing it to build its own consumer-facing brand.
Financial Performance
Nityas Gems & Jewellery has recorded substantial growth in revenue in recent years.
| Financial Year | Revenue |
|---|---|
| FY2024 | ₹53.66 Crore |
| FY2025 | ₹96.85 Crore |
| FY2026 | ₹202.89 Crore |
The available data shows revenue nearly quadrupling between FY2024 and FY2026. Reported PAT was approximately ₹4.02 crore in FY2024 and ₹9.79 crore in FY2025.
The rapid increase in revenue reflects the company's expansion in its B2B distribution business and growing jewellery sales.
IPO Fund Utilisation
The primary objective of the issue is to strengthen the company's working capital position.
Around ₹70 crore from the IPO is earmarked for working capital requirements, while the remaining funds are intended for general corporate purposes.
For a jewellery business, working capital is particularly important because inventory and customer-credit requirements can have a significant impact on cash flows.
Key Business Highlights
Lab-Grown Diamond Jewellery
The company focuses on jewellery featuring lab-grown diamonds, giving it exposure to a developing segment of the jewellery market.
Integrated Operations
Nityas Gems & Jewellery combines manufacturing, B2B distribution and D2C retail activities rather than depending entirely on one sales channel.
Strong B2B Contribution
The B2B segment accounted for the overwhelming majority of FY2026 operating revenue, providing the company with an established distribution base.
D2C Expansion
Its Ayaani business provides an opportunity to build a direct consumer presence through online and physical retail channels.
Growth Opportunities
The company could benefit from several industry trends:
- Increasing acceptance of lab-grown diamonds.
- Growth in organised jewellery retail.
- Expansion of branded jewellery.
- Rising online jewellery purchases.
- Growth of B2B jewellery distribution.
- Increasing consumer interest in contemporary designs.
The company's ability to expand its D2C business while maintaining B2B growth will be important for its future performance.
Risks to Watch
Investors should also consider the risks associated with the business:
- Jewellery demand can be affected by changes in consumer spending.
- Gold and diamond prices can influence working capital requirements.
- The business has a high dependence on B2B revenue.
- Competition in the jewellery market is intense.
- Lab-grown diamond demand and consumer preferences may evolve over time.
- A significant portion of IPO proceeds is intended for working capital.
IPO Timeline
The current IPO schedule is as follows:
| Event | Date |
|---|---|
| IPO Opens | 30 September 2026 |
| IPO Closes | 5 October 2026 |
| Allotment | 6 October 2026 |
| Refund Initiation | 7 October 2026 |
| Share Credit | 7 October 2026 |
| Listing | 8 October 2026 |
The dates are based on the currently published IPO schedule and may be subject to exchange/issue-related changes.
Final Thoughts
Nityas Gems & Jewellery IPO brings a relatively young jewellery company to the mainboard market with a business model built around lab-grown diamond jewellery, B2B distribution and an emerging D2C channel.
The company has reported strong revenue growth, while the IPO will provide additional working capital to support its operations. At the same time, investors should pay attention to the company's high dependence on B2B revenue, working-capital needs, competitive environment and the evolving market for lab-grown diamonds.
The current GMP is only an unofficial market indication and has moved lower from earlier levels, so investors should consider the company's financial performance, valuation, business model and risk factors rather than relying on GMP alone.
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