Jewellery maker plans to use fresh issue proceeds for working capital needs and general corporate purposes, while the promoter will offload shares through OFS
Organised gold jewellery manufacturer and wholesale distributor Master Chains N Jewels has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) to launch an initial public offering (IPO). The proposed public issue consists of a fresh issue of equity shares aggregating up to Rs 400 crore, along with an Offer for Sale (OFS) of up to 59.06 lakh equity shares by promoter Taruna Madan Kothari.
According to the draft papers filed on Saturday, the company intends to deploy the net proceeds from the fresh issue primarily towards meeting its working capital requirements, with the remaining funds earmarked for general corporate purposes.
Master Chains N Jewels designs, manufactures and sells a broad portfolio of gold jewellery, including lightweight collections. The company also undertakes job-work services and supplies its products through a wholesale distribution network spanning multiple markets across India.
As of June 30, 2026, the company maintained a design database comprising nearly 80,666 jewellery designs. Its manufacturing operations are based at two facilities in Mumbai’s Kala Chowki area, covering a combined area of around 6,870 square feet. As of March 2026, the units had an installed production capacity of approximately 4,972.90 kilograms of jewellery annually.
Systematix Corporate Services has been appointed as the sole book-running lead manager for the IPO, while Bigshare Services will act as the registrar to the issue.
