The scrip was listed at Rs 112, a discount of 23.81% compared with the initial public offer (IPO) price. The stock is currently up 2.59% over its listing price.
The counter hit a high of Rs 117.60 and a low of Rs 106.40. About 22.21 lakh shares of the company changed hands at the counter.
Pushpa Jewellers' IPO was subscribed 2.03 times. The issue opened for bidding on 30 June 2025 and it closed on 2 July 2025. The price band of the IPO was set at Rs 143 to Rs 147 per share.
The IPO comprised 67,11,000 equity shares, including a fresh issue of upto 53,70,000 equity shares and offer for sale (OFS) of upto 13,41,000 equity shares.
The company intends to utilize the net proceeds for working capital requirements, establishment of proposed new showroom, capital expenditure cost for the proposed new showroom, inventory cost for the proposed new showroom, general corporate purposes and to meet the offer related expenses.
Ahead of the IPO, Pushpa Jewellers on 27 June 2025, raised Rs 14.05 crore from anchor investors. The board allotted 9.56 lakh shares at Rs 147 each to 6 anchor investors.
Pushpa Jewellers is a wholesaler jewellery maker in B2B with a presence across India. Jewellery business includes the sale of wide range of traditional and modern gold jewellery. The company has presence across multiple regions in India and it also export jewellery in international markets like Dubai, United States and Australia. As on 31 March 2025, the company has 90 employees approximately. It collaborates with 33 karigars.
The company recorded revenue from operations of Rs 281.06 crore and net profit of Rs 22.28 crore for the period ended 31 March 2025.