New Delhi, Designer jewellery brand OMARA is heading to the capital markets, with its parent Omara Ventures India set to launch a nearly Rs 42 crore initial share sale on the BSE SME platform later this month.
The Chandigarh-based company will open its initial public offering (IPO) for subscription on September 30 and conclude on October 5, according to its Red Herring Prospectus (RHP).
The public offer is entirely a fresh issue of up to 13.50 lakh equity shares with a price band of Rs 296-311 per share, aggregating to Rs 41.99 crore.
The proceeds from the fresh issue, around Rs 18 crore, will be used by Omara towards repayment of debt and Rs 10 crore will be utilised for funding the long-term working capital requirements.
The company also plans to use the IPO proceeds of Rs 2 crore each to renovate and expand its jewellery boutique, and step up marketing and promotional activities for its flagship brand, ‘OMARA’, and the remaining balance for general corporate purposes.
The proposed issue will give the company additional capital to expand its retail presence and strengthen the OMARA brand as it moves into the public markets.
The company’s financial performance has also strengthened ahead of the proposed listing. Its revenue nearly doubled to Rs 45.87 crore in FY26 from Rs 23.52 crore in the previous fiscal year.
During the same period, its profit after tax jumped to Rs 9.36 crore from Rs 2.73 crore.
While the IPO marks a new chapter for the company, Omara has been building its business around contemporary jewellery, offering rings, earrings, necklaces, bracelets and other products featuring natural diamonds, precious and semi-precious gemstones, gold and silver.
Its portfolio spans bridal and special occasions as well as everyday luxury, blending contemporary designs with traditional jewellery craftsmanship.
The company’s shares are proposed to be listed on the BSE SME platform on October 8.
Wealth Mine Networks is the sole book-running lead manager for the IPO. PTI
