IPO Overview
Incorporated in 2016 and converted to a public limited company in December 2024, Yaashvi Jewellers Limited is a Jaipur-based manufacturer and trader of gold jewellery across 9K, 14K, 18K, 20K, and 22K purities. Machine-made gold chains form the core of its product portfolio and are used as standalone products as well as design elements in items such as mangalsutras, bracelets, anklets, and earrings. Alongside manufacturing, the company operates a trading business covering studded gold jewellery, diamond jewellery, fashion silver jewellery (including gold-plated variants under the brand “PURESOUL”), and gold bullion. The company’s manufacturing facility at RIICO, Jaipur spans 1,092 sq. mtrs. with an installed capacity of 1,100 kg per annum. The business primarily serves B2B customers while having recently expanded into B2C retail through a new showroom in Jagatpura, Jaipur.
Yaashvi Jewellers is entering the public markets through an SME IPO on the BSE SME platform, looking to raise approximately ₹43.88 crore entirely via a fresh issue of 52,86,400 equity shares at a fixed price of ₹83 per share. The IPO opens on 25 May 2026 and closes on 27 May 2026, with listing expected on 2 June 2026.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Fixed Price Issue – SME |
| Listing Exchange | BSE SME |
| IPO Open Date | 25 May 2026 |
| IPO Close Date | 27 May 2026 |
| Allotment Date | 29 May 2026 (Expected) |
| Refund Initiation | 1 June 2026 |
| Credit to Demat | 1 June 2026 |
| Listing Date | 2 June 2026 (Tentative) |
| Issue Price | ₹83 per share (Fixed) |
| Face Value | ₹10 per share |
| Lot Size | 1,600 shares |
| Minimum Investment (Retail) | ₹1,32,800 (1 lot = 1,600 shares) |
| Minimum Investment (NII/HNI) | ₹2,65,600 (2 lots = 3,200 shares) |
| Issue Size | ₹43.88 crore |
| Fresh Issue | 52,86,400 shares (₹43.88 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 |
| Non-Institutional Investors (NII/HNI) | ~50% |
| Retail Individual Investors (RII) | ~50% |
| Market Maker | Reserved Portion |
OFS / Selling Shareholders
There is no Offer For Sale (OFS) in this IPO. The IPO consists entirely of a fresh issue of 52.86 lakh equity shares at a fixed issue price of ₹83 per share. All proceeds will go directly to the company.
Objects of the Issue (Fund Utilization)
The proceeds from the IPO are proposed to be utilised for working capital requirements, repayment or prepayment of certain borrowings, and general corporate purposes.
- Working capital requirements
- Repayment / prepayment of existing borrowings
- General corporate purposes
Lead Managers & Registrar
- Book Running Lead Manager: To be confirmed (SME Lead Manager)
- Registrar to the Issue: Bigshare Services Pvt. Ltd.
Promoters & Management
The company is promoted by Ankita Agarwal and Ankit Aggarwal, who bring over 16 years of combined industry experience across manufacturing, sales, design, and operations, forming the core of the company’s strategic and operational decision-making.
Company Details
Yaashvi Jewellers is a Jaipur-based jewellery company engaged in the manufacturing and trading of gold jewellery. Its core manufacturing activity involves machine-made gold chains in 9K, 14K, 18K, 20K, and 22K gold, which are used as standalone products or as components in larger jewellery pieces such as mangalsutras, bracelets, anklets, and earrings. Beyond its core manufacturing, the company trades in studded gold jewellery, diamond jewellery, fashion silver jewellery under the brand name “PURESOUL,” and gold bullion. It also offers customised jewellery solutions, with production facilitated through job workers when required. The company serves both B2B and B2C customers.
Segments Served:
- B2B: Dealers, showrooms, small jewellery shops (wholesale)
- B2C: Retail customers through company-owned outlets in Jaipur
Key Products:
- Machine-Made Gold Chains (9K, 14K, 18K, 20K, 22K)
- Plain Gold Jewellery & Designer Gold Jewellery
- Studded Gold Jewellery & Diamond Jewellery
- Fashion Silver Jewellery (Brand: PURESOUL)
- Gold Bullion
- Customised Jewellery (job-work basis)
Key Capabilities:
- BIS hallmarked products with stage-wise quality controls from bullion receipt through final production. Operations are supported by a leased 1,092 sq. m. manufacturing facility in Jaipur with 1,100 kg p.a. installed capacity and modern chain-making and welding equipment.
Manufacturing Facility:
- Manufacturing facility in Jaipur, Rajasthan, spread across 1,092 sq. mtrs., equipped with induction melting furnaces, wire-drawing machines, chain-making machines, and laser welding machines. The company also operates a display outlet and a retail showroom, both located in Jaipur.
Financial Snapshot
| Period | Revenue (₹ Cr) | PAT (₹ Cr) | Total Assets (₹ Cr) |
| FY25 | ₹297.76 | ₹11.28 | ₹70.94 |
| FY26 | ₹449.74 | ₹18.28 | ₹118.23 |
Key Financial Metrics
- Revenue increased by 51% and PAT rose by 62% between FY25 and FY26 — reflecting strong business momentum.
- B2B revenues stood at ₹332.06 crore (74.10% of revenue) in FY26, while B2C revenues grew significantly to ₹116.09 crore (25.90%) in FY26 from just ₹2.81 crore (1.40%) in FY24 — indicating rapid retail expansion.
- Installed manufacturing capacity: 1,100 kg per annum (as of March 2026)
Company Strengths
- Experienced promoters with over 16 years of combined industry experience across manufacturing, sales, design, and operations.
- Diversified product range covering traditional, contemporary, and combination designs across multiple karat standards, with a healthy mix of B2B wholesale (74.10%) and growing B2C retail (25.90%) in FY26.
- Repeat customers contributed 71.60% of revenue from operations in FY26 — reflecting strong, long-standing trade relationships across the domestic jewellery market.
- Strong revenue and profit growth — 51% revenue growth and 62% PAT growth in FY26 over FY25
- All products are BIS hallmarked, ensuring quality compliance and customer trust
- Entire IPO is a fresh issue — no promoter exit; all funds directed towards business growth
Key Risks & Challenges
- All operations — manufacturing facility, registered office, retail shop, and showroom — are concentrated in Jaipur, Rajasthan. Any adverse economic, political, or regulatory developments in Rajasthan could materially impact the company’s business and financial condition.
- Gold price volatility — as a gold jewellery business, fluctuations in global gold prices directly affect margins and working capital requirements
- Fixed price issue with no price discovery — unlike a book-built issue, there is no demand-based price mechanism
- SME IPO liquidity risk — limited secondary market trading volumes on BSE SME platform
- High working capital intensity — jewellery manufacturing and trading businesses typically require significant capital locked in inventory and receivables
- Rapid B2C expansion is relatively new — retail segment scaling carries execution risk, especially in a competitive jewellery retail market
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.
