Madhya Pradesh-based Kataria Dhulchand Pannalal Jewellers, operating under the brand Kataria Jewellers, has filed draft papers for an IPO comprising 1.6 crore equity shares. According to the draft red herring prospectus filed on August 26, the company plans to utilize ₹154.9 crore of net issue proceeds for establishing two new jewellery stores. The remaining ₹50 crore will be used to repay existing debt, while the rest will be allocated for general corporate purposes.
As reported in the DRHP, the company proposes to establish two new jewellery stores as part of its expansion strategy. One store will be located in Kota, Rajasthan, while the other will be set up in Ujjain, Madhya Pradesh. The expansion expenditure will cover two components: capital expenditure towards interiors, fit-outs and architect's fees, and the cost of procuring initial inventory for the new stores.
According to the company's filings, Kataria Jewellers currently operates three jewellery stores in Madhya Pradesh, specifically two stores in Ratlam and one in Indore. The company has demonstrated strong financial performance with profit surging more than three-fold to ₹44.55 crore in the fiscal year ended March 2026, compared with ₹13.11 crore in the previous year. Revenue grew 49.1 percent to ₹477.9 crore from ₹320.5 crore during the same period. As of August 10, 2026, the company's total outstanding borrowings stood at ₹104.1 crore.
Smart Horizon Capital Advisors has been appointed as the sole book-running lead manager for the public issue of Kataria Dhulchand Pannalal Jewellers. The IPO filing represents the company's strategic approach to fund its expansion plans through the capital markets, positioning for growth in new geographical markets while leveraging its established presence in Madhya Pradesh.
