Listed

Pushpa Jewellers Limited IPO

Pushpa Jewellers Limited is a gold jewellery company based in Kolkata, engaged in the design, manufacturing, and wholesale of traditional and contemporary jewellery. Established in 2009, the company focuses on lightweight, 22-karat gold ornaments that appeal to both retail customers and B2B clients. Its offerings include necklaces, bangles, earrings, and rings, often enhanced with semi-precious stones and intricate detailing.

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Min Investment

₹1,47,000

Lot Size

1,000 Shares

Price Range

₹147.0

Issue Size (₹ Cr.)

₹98.65

IPO Type

BSE SME

Key Metrics

Face Value

₹ 10

GMP

₹ 0.0

Subscription

2.46x

EPS

₹ 12.36

P/E Ratio

11.9 x

RoNW

37.64%

ROE

37.64%

Debt to Equity (₹ Cr.)

0.22

Timeline

IPO Opened30/06/2025Monday

IPO Closed02/07/2025Wednesday

Allotted03/07/2025Thursday

Refunded04/07/2025Friday

Listed07/07/2025Monday

Strengths

Strong Revenue and Profit Growth The company has shown impressive financial growth, with revenues more than doubling over two years and consistent improvement in net profits, highlighting efficient operations.
High Return Ratios With strong Return on Equity (ROE) and Return on Capital Employed (ROCE), the company demonstrates its ability to generate healthy returns from invested capital.
Low Debt Exposure Pushpa Jewellers maintains a conservative debt profile, allowing it to pursue expansion plans with reduced financial risk and interest burden.
Innovative Lightweight Gold Offerings By focusing on lightweight and stone-weightless gold jewelry, the company appeals to both B2B clients and modern consumers seeking affordability and style.
Retail Expansion Strategy Funds from the IPO are being utilized to open new showrooms and increase inventory, which is expected to enhance customer reach and brand visibility.

Weaknesses

Limited Geographic Presence The company’s retail operations are primarily concentrated in specific regions, which may limit brand visibility and customer base outside those areas.
Dependence on Gold Price Volatility As a gold jewelry business, its margins and sales are directly affected by fluctuations in gold prices, which can be unpredictable and driven by global markets.
Inventory-Heavy Business Model The nature of the jewelry industry requires holding large amounts of high-value inventory, which can tie up working capital and increase security risks.
High Competition in Jewelry Retail The company operates in a competitive space with many established national and local jewelry brands, which could limit pricing flexibility and customer retention.
Reliance on B2B Sales Strategy A significant portion of business comes from B2B sales, which may expose the company to credit risks and limit direct customer engagement and brand development.