Priority Jewels files draft papers with Sebi to mop-up funds via IPO

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Priority Jewels files draft papers with Sebi to mop-up funds via IPO - Business Standard

Quick Summary:

It supplies its products to leading jewellery chains, including CaratLane, Kalyan Jewellers India, Reliance Retail, Malabar Gold & Diamonds FZCO, Tribhovandas Bhimji Zaveri and Senco Gold.

Founded in 2007, Priority Jewels designs, manufactures and sells a wide range of light-weight, affordable diamond-studded gold and platinum fine jewellery.

The Mumbai-based company's IPO is completely a fresh issue of 54 lakh equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Wednesday.