IPO Overview
Incorporated in 2020, Omara Ventures India Limited is a Chandigarh-based premium designer jewellery company operating under its proprietary brand OMARA. The company specialises in curated, design-led natural diamond jewellery including diamond items, wedding sets, and daily wear ornaments, combining traditional jewellery-making expertise with modern aesthetics to cater to evolving preferences among high-end jewellery consumers. The company operates through its premium retail boutique and has reported strong financial growth in recent years, with revenue nearly doubling in FY26 on a YoY basis.
The company is now launching its SME IPO on the BSE SME platform, aiming to raise approximately ₹41.99 crore through a fully fresh issue of 13,50,000 equity shares. The IPO carries a price band of ₹296 to ₹311 per equity share, with a lot size of 400 equity shares and a minimum application of 2 lots (800 equity shares), making the minimum investment approximately ₹2,48,800 at the upper price band. The IPO opens on 30 September 2026 and closes on 5 October 2026, with listing expected on 8 October 2026 on the BSE SME platform.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – SME |
| Listing Exchange | BSE SME |
| DRHP Filed | 14 July 2026 |
| IPO Open Date | 30 September 2026 |
| IPO Close Date | 5 October 2026 |
| Allotment Date | 6 October 2026 (Expected) |
| Refund Initiation | 7 October 2026 |
| Credit to Demat | 7 October 2026 |
| Listing Date | 8 October 2026 (Tentative) |
| Price Band | ₹296 – ₹311 per share |
| Face Value | ₹10 per share |
| Lot Size | 400 shares |
| Minimum Application | 2 Lots = 800 shares |
| Minimum Investment (Retail) | ₹2,48,800 (approx) |
| Issue Size | ₹41.99 crore |
| Fresh Issue | 13,50,000 shares (₹41.99 crore) |
| Offer For Sale (OFS) | Nil |
Note: The entire IPO is a fresh issue — no offer-for-sale component. All proceeds go directly to the company.
Issue Break-up
| Category | Allocation |
| Qualified Institutional Buyers (QIB) | ~50% |
| Non-Institutional Investors (NII/HNI) | ~15% |
| Retail Individual Investors (RII) | ~35% |
| Market Maker | Reserved Portion |
OFS / Selling Shareholders
There is no Offer For Sale (OFS) in this IPO. The entire issue is a fresh issue, and all IPO proceeds will be received directly by the company for business expansion and operational requirements.
Objects of the Issue (Fund Utilization)
The company plans to use the IPO proceeds for renovation and expansion of the jewellery boutique, marketing and promotional activities for the OMARA brand, repayment or prepayment of borrowings, long-term working capital requirements, and general corporate purposes.
- Renovation and expansion of jewellery boutique
- Marketing and brand promotional activities for OMARA
- Repayment / prepayment of existing borrowings
- Long-term working capital requirements
- General corporate purposes
Lead Managers & Registrar
- Book Running Lead Manager: Wealth Mine Networks Ltd.
- Registrar to the Issue: Bigshare Services Pvt. Ltd.
Promoters & Management
The company is promoted by Samarth Jaiswal and Ishani Mehta Jaiswal, who lead corporate strategy and business development. The promoter duo brings expertise in brand building, luxury retail operations, and the premium jewellery segment.
Company Details
Omara Ventures India Limited operates a premium retail jewellery store under the brand OMARA, selling diamond items, wedding sets, and daily wear ornaments. The brand combines traditional jewellery-making expertise with modern aesthetics to cater to evolving preferences among high-end jewellery consumers.
Sectors Served:
- Premium / Luxury Jewellery Retail
- Natural Diamond Jewellery
- Bridal & Wedding Jewellery
- Daily Wear Fine Jewellery
Key Products:
- Natural Diamond Jewellery Collections
- Wedding & Bridal Sets
- Daily Wear Diamond Ornaments
- Design-led curated jewellery under the OMARA brand
Key Capabilities:
- Proprietary designer brand (OMARA) in the premium segment
- Curated collections combining traditional craftsmanship with modern design aesthetics
- Direct-to-consumer retail boutique model targeting high-end jewellery consumers
Registered Office / Operations:
- Chandigarh, India
Incorporation:
- 2020 (Private Limited); converted to Public Limited in 2026 ahead of IPO
Financial Snapshot
| Period | Revenue (₹ Cr) | EBITDA (₹ Cr) | PAT (₹ Cr) |
| FY24 | ₹23.19 | — | ₹0.31 |
| FY25 | ₹23.52 | ₹4.87 | ₹2.73 |
| FY26 | ₹45.87 | ₹14.42 | ₹9.37 |
Key Financial Metrics
- Revenue increased from approximately ₹23.52 crore in FY25 to ₹45.87 crore in FY26 — a growth of ~95% YoY. EBITDA increased from approximately ₹4.87 crore in FY25 to ₹14.42 crore in FY26, while PAT rose from approximately ₹2.73 crore to ₹9.36 crore during the same period.
- Return on equity reached 74.76% in FY26. PAT margin stood at 20.41% in FY26. EBITDA margin stood at 31.46% in FY26.
- Total borrowings stood at ₹22.43 crore in March 2026. Net worth reached ₹12.52 crore at the close of FY26. Debt-to-equity ratio: 1.79x.
- Pre-IPO P/E: ~10x based on FY26 earnings. Post-IPO P/E: ~14.48x.
Company Strengths
- Proprietary premium brand OMARA with a differentiated design-led positioning in India’s high-end jewellery segment
- Exceptional financial growth in FY26 — revenue nearly doubled (~95% YoY) and PAT grew ~243% YoY
- Strong profitability metrics — PAT margin of ~20% and EBITDA margin of ~31% in FY26, which are healthy for a jewellery retailer
- Entire IPO is a fresh issue with no OFS — promoters are not exiting; all capital raised goes directly to business expansion
- India’s premium jewellery market is structurally growing, driven by rising aspirational spending, wedding season demand, and formalisation of the jewellery retail sector
- Reasonable post-IPO valuation at ~14.48x P/E based on FY26 earnings
Key Risks & Challenges
- Very young company: Incorporated only in 2020 with a limited 5-year operating track record, making it difficult to assess long-term business sustainability
- High debt relative to net worth: Debt-to-equity ratio of 1.79x and total borrowings of ₹22.43 crore against a net worth of only ₹12.52 crore as of March 2026
- Single boutique concentration risk: Business revenues are dependent on a single or limited retail boutique — any disruption to the physical store can directly impact revenues
- Sharp FY26 profit surge raises sustainability questions: PAT jumped ~243% YoY in FY26 — investors need to evaluate whether this growth is durable or driven by one-time factors
- SME IPO liquidity risk: Limited secondary market trading volumes on the BSE SME platform post-listing
- Competitive jewellery retail market: Significant competition from established national and regional jewellery brands with far larger retail networks, marketing budgets, and brand recall
Disclaimer:
This document is for informational purposes only and should not be considered as investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before investing in any IPO. Market investments are subject to risk.
