Nityas Gems & Jewellery plans Rs 108.35 crore IPO to bolster working capital
The lab-grown diamond jewellery company, which operates D2C retail through Ayaani Diamonds and Jewellery, is scheduled to open its all-fresh IPO on September 30, 2026, closing October 5. It plans to allocate Rs 70 crore of the proceeds to working capital.
The development
Nityas Gems & Jewellery opens its Rs 108.35 crore IPO on September 30, 2026. The Indian lab-grown diamond jewellery company, which operates D2C retail through Ayaani Diamonds and Jewellery, plans to use Rs 70 crore for working capital.
The numbers
- Rs 108.35 crore IPO, entirely a fresh issue
- Rs 70 to Rs 75 per share price band
- 200 shares per lot
- Rs 15,000 minimum retail investment
- Rs 70 crore earmarked for working capital
Why it matters to operators and investors
Nityas’ proposed Rs 108.35 crore all-fresh IPO is primarily a working-capital funding story, making inventory productivity, margins and cash conversion central diligence questions.
What to watch next
- Whether the scheduled September 30–October 5, 2026 offer proceeds, and how much capital is ultimately raised.
- Actual deployment against the proposed Rs 70 crore working-capital allocation.
- Inventory growth versus revenue growth, stockout rates and inventory ageing.
- Lab-grown diamond procurement prices, retail selling prices and markdown intensity.
- Gross margin and operating cash flow alongside customer acquisition costs and repeat purchases.
The counter-case
The proposed Rs 70 crore working-capital infusion is financing capacity, not evidence of stronger retail demand or profitability. If it mainly funds slow-moving inventory rather than profitable sales growth, shareholders could be financing a cash-intensive business. Falling lab-grown diamond prices could also pressure inventory values and margins. The benefit remains contingent on the IPO completing.