Madhya Pradesh-based Kataria Dhulchand Pannalal Jewellers Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).
The IPO, with a face value of Rs 10 per equity share, comprises a fresh issue of up to 16,000,000 equity shares.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not more than 15% and 35% of the net offer is assigned to non-institutional bidders and rete
The Net Proceeds worth Rs 154.9 crore will be utilized for Funding capital expenditure towards the establishment of two new stores, one in Kota, Rajasthan and the other in Ujjain, Madhya Pradesh, Rs 50 crore Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company, and general corporate purposes.
Incorporated in 1996, the company is an organised jewellery retailer with brand name Kataria Jewellers, with its operations concentrated in Madhya Pradesh and engaged in sale of a broad portfolio of jewellery products made from precious metals such as gold, platinum, and silver, incorporating precious and semi-precious stones, including diamonds (including polki (uncut) diamonds) (Source – CARE Industry Report).
Its product portfolio caters to a diverse customer base across multiple price points, ranging from entry-level offerings to premium jewellery collections. In addition to its retail operations, the company also supplies jewellery to other jewellery retailers.
The company sells its jewellery across various price points ranging from jewellery for special occasions, such as weddings to daily-wear jewellery. Its product portfolio comprises gold, platinum and diamond jewellery including rings, earrings, necklaces, bangles, complete jewellery sets including bridal collections and other ornaments, silver jewellery, gold and silver bullions and silver articles.
Presently, the company operates through 3 retail jewellery stores (Stores) all located in Madhya Pradesh. The company commenced its retail jewellery operations with the opening of its first store in Ratlam, Madhya Pradesh, in Fiscal 2023 with a retail showroom area of 12,400 square feet (Ratlam Store-I). The company subsequently expanded its retail footprint by opening a second store in Ratlam, Madhya Pradesh in Fiscal 2024 with a retail showroom area of 1,770 square feet (Ratlam Store-II), followed by its entry into Indore, Madhya Pradesh in Fiscal 2026 with a third store with a retail showroom area of 3,800 square feet (Indore Store), all of which showcase its entire range of collections (collectively, the Stores). All of the stores are operated and managed by the company.
As a part of its growth strategy, the company is in the process of opening its fourth store in the adjacent state at Kota, Rajasthan which is proposed to have a retail showroom area of approximately 3,600 square feet, and expected to be operational by Fiscal 2027. The company is also in the process of opening its fifth store in Ujjain, Madhya Pradesh which is proposed to have a retail showroom area of approximately 4,800 square feet, and expected to be operational in Fiscal 2028 (collectively referred to as New Stores). The establishment of these two new stores is proposed to be financed out of the net proceeds of the IPO.
As on June 30, 2026, its product portfolio comprised 220 SKUs across our jewellery categories, spanning rings, earrings, necklaces, bangles, antique silver jewellery, complete jewellery sets and other ornaments.
The company’s revenue from operations was Rs 477.8 crore in FY26 as against Rs 152.9 crore during FY24. Its net profit was Rs 44.5 crore during FY26 as against Rs 2.3 crore during FY24.
Smart Horizon Capital Advisors Pvt Lts is the book running lead manager, and Bigshare Services Private Limited is the registrar of the offer. The equity shares are proposed to be listed on BSE and NSE.
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