Mumbai-based gold jewellery maker Master Chains N Jewels has filed draft red herring prospectus with Sebi to raise fresh capital of ₹400 crore via initial public offering. According to reports from The Economic Times, the IPO also comprises an offer-for-sale of 59.06 lakh shares by promoter Taruna Madan Kothari. The company may also consider raising funds up to ₹80 crore in pre-IPO placement, which is a part of fresh issue component, with the fresh issue size getting reduced accordingly. Systematix Corporate Services has been appointed as the book running lead manager for the Master Chains N Jewels IPO, while Bigshare Services serves as the registrar to the offer. The proceeds from the fresh issue will be utilised towards funding the company's working capital requirements and for general corporate purposes.
As reported by The Economic Times, Master Chains N Jewels operates in organised gold jewellery manufacturing, wholesale distribution segment and sells products directly to other wholesalers, and retailers. The company designs, manufactures, and provides job-work services for a wide range of gold jewellery, including lightweight jewellery. As of June 30, 2026, the company maintains a design database of around 80,666 jewellery designs. The company operates two manufacturing units at Kala Chowki in Mumbai with an aggregate area of about 6,870 square feet and an installed manufacturing capacity of nearly 4,972.90 kilograms per annum as of March 2026. It caters to customers across India through its wholesale distribution network and manufacturing capabilities.
According to reports from Moneycontrol, Master Chains N Jewels has reported a massive 162 percent growth in profit to ₹97.3 crore in the year ended March 2026, compared to ₹37.1 crore in previous year, backed by strong operating performance. Revenue during the same period increased 11.1 percent to ₹1,680.6 crore, from ₹1,512.2 crore. EBITDA surged 136.7 percent to ₹145.9 crore in FY26 from ₹61.6 crore in FY25, and margin more than doubled to 8.68 percent from 4.07 percent in the same period.
As reported by The Economic Times, the draft red herring prospectus was filed on Saturday, indicating the company's progression toward the public offering. The filing demonstrates the company's commitment to raising capital through the IPO process. The strong financial performance with significant profit growth and improved margins demonstrates the company's operational efficiency in the gold jewellery manufacturing sector, with the proceeds from the fresh issue being utilised towards funding working capital requirements and general corporate purposes.
