Rajkot-based retail-focused jewellery company Arjun Jewellers has refiled its draft papers with the Securities and Exchange Board of India (SEBI) to raise up to ₹200 crore through its maiden public offering (IPO). According to reports from Moneycontrol, the IPO comprises entirely a fresh issue of equity shares by the company, with no offer-for-sale (OFS) component. The company has increased the issue size from the ₹180 crore proposed in its earlier draft red herring prospectus (DRHP), which was filed in September 2025. The company withdrew the earlier draft document in March 2026 before refiling with the current proposal.
Arjun Jewellers sells jewellery made of gold, silver, platinum, diamonds, and other precious stones through its four retail showrooms in Gujarat's Saurashtra region, including three in Rajkot. As reported by Moneycontrol, the company plans to use the IPO proceeds primarily to fund its incremental working capital requirements, amounting to ₹160 crore, mainly for procuring inventory for its existing retail showrooms as well as its proposed new showrooms in Saurashtra, Gujarat. The remaining net proceeds from the offer will be utilised for general corporate purposes.
The company's financial performance has remained strong in recent years, with profit for FY26 increasing 80.5 percent to ₹27.2 crore from ₹15.1 crore in the previous year, while revenue surged 55.4 percent to ₹595.5 crore from ₹383.3 crore during the same period. According to Moneycontrol, the company's equity shares are proposed to be listed on both the leading stock exchanges, with Saffron Capital Advisors appointed as the merchant banker for the Arjun Jewellers IPO.
As part of its expansion strategy, Arjun Jewellers plans to open two new retail showrooms—Showroom 5 in Morbi and Showroom 6 in Rajkot. As reported by Moneycontrol, both showrooms have been taken on lease by the company, of which Showroom 6, proposed to be established in Rajkot, has been leased from the promoter. The company added that operations at Showroom 5 are expected to commence in the coming months, supporting its growth strategy in the Gujarat market.
