Kalyan Did It, So Can You! How an IPO Can Transform Your Jewellery Business
India’s Jewellery Market is Booming – Are You Ready to Capitalize?
With India’s jewellery market projected to reach ₹8.5 trillion by 2025, smart jewellers are taking their businesses public to unlock exponential growth. An SME IPO isn’t just about raising funds—it’s about expanding your brand, attracting high-value investors, and scaling operations at record speed.
How an SME IPO Transformed a Small Jewellery Business into a Billion-Dollar Giant
Case Study: Kalyan Jewellers
Starting as a single-store family business, Kalyan Jewellers scaled up to become one of India’s leading jewellery brands. The company went public with a ₹1,175 crore IPO in 2021, gaining massive investor interest and accelerating its growth. Post-listing, Kalyan expanded operations, entered new markets, and strengthened its digital presence—proving that an IPO can be the game-changer for ambitious jewellery businesses.
Recent Jewellery IPOs: Who’s Leading the Way?
Here are some jewellery companies that leveraged IPOs to accelerate growth and market expansion:
| S.No. | Company Name | CMP (₹) | P/E | Market Cap (₹ Cr.) | Div. Yield % | NP Qtr (₹ Cr.) | Qtr Profit Var % | Sales Qtr (₹ Cr.) | Qtr Sales Var % | ROCE %** |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | T B Z | 162.15 | 15.12 | 1,082.04 | 1.08 | 29.88 | 39.37 | 927.85 | 25.21 | 10.88 |
| 2 | Radhika Jeweltec | 83.34 | 16.98 | 983.42 | 0.24 | 22.73 | 45.05 | 206.06 | 17.22 | 24.58 |
| 3 | Manoj Vaibhav | 197.15 | 10.20 | 963.03 | 0.00 | 25.24 | 33.12 | 497.63 | 4.74 | 16.41 |
| 4 | RBZ Jewellers Ltd | 136.85 | 16.61 | 547.40 | 0.00 | 13.09 | 93.07 | 193.81 | 67.37 | 16.13 |
| 5 | Utssav | 161.50 | 31.40 | 384.66 | 0.00 | 9.87 | 48.87 | 284.53 | 82.38 | 23.88 |
| 6 | Uday Jewellery | 150.70 | 34.86 | 345.44 | 0.00 | 4.54 | 57.09 | 98.92 | 81.01 | 13.29 |
| 7 | Mini Diamonds (I) | 134.65 | 42.43 | 317.36 | 0.00 | 2.25 | 84.43 | 115.66 | 59.99 | 10.10 |
| 8 | Ashapuri Gold | 6.91 | 17.18 | 230.33 | 0.00 | 4.19 | 101.44 | 101.45 | 103.02 | 10.30 |
| 9 | Golkunda Diamond | 196.10 | 9.83 | 136.48 | 0.76 | 4.93 | 54.55 | 73.80 | 46.28 | 17.78 |
| 10 | Kabra Jewels | 124.50 | 13.90 | 130.54 | 0.00 | — | — | 19.54 | — | — |
Why Your Jewellery Business Should Consider an IPO Now
1️⃣ Access to Growth Capital – Expand your store network, invest in manufacturing, and scale operations with ease.
2️⃣ Brand Prestige & Market Trust – A listed company gains more credibility, leading to increased customer confidence.
3️⃣ Investor Attraction & Business Expansion – A public listing makes your company attractive to institutional investors and global markets.
4️⃣ Competitive Advantage – Compete with established brands and gain a significant market share.
5️⃣ Long-Term Value Creation – IPO proceeds help in sustained business expansion, R&D, and technological upgrades.
Your Growth, Our Expertise: MUDS Management
With decades of IPO consulting experience, MUDS Management specializes in navigating jewellery businesses through the entire IPO journey—from due diligence and compliance to fundraising and listing.
✅ Strategic IPO Planning
✅ SEBI & Exchange Compliance
✅ Investor Outreach & Marketing
✅ Efficient Fundraising
The time is NOW! Unlock the full potential of your jewellery brand with an SME IPO.
📞 Contact MUDS Management today and start your journey towards becoming the next jewellery market leader!
- Due Diligence
- Fund Raising
- Listing
