According to the DRHP, the retailer intends to expand across markets where it expects existing brand recognition to support store ramp-up
Indore: Madhya Pradesh-based Kataria Dhulchand Pannalal Jewellers Limited, which operates under the brand name Kataria Jewellers, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
The proposed issue comprises a fresh issue of up to 16 million equity shares with a face value of Rs 10 each. The IPO does not include an offer for sale. The issue price and total issue size are yet to be determined.
According to the DRHP, the company proposes to utilize Rs 154.93 crore of the net proceeds towards establishing two new stores, with Rs 66.55 crore allocated to a proposed store in Kota, Rajasthan and Rs 88.39 crore going towards another store in Ujjain, Madhya Pradesh. A further Rs 50 crore is proposed to be used for repayment or prepayment, in full or part, of certain outstanding borrowings, with the balance allocated towards general corporate purposes.
The Kota store is proposed to have an area of 3,600 sq. ft and is expected to commence operations in fiscal 2027. The Ujjain store is proposed to have a retail showroom area of 4,800 sq. ft and is expected to become operational in fiscal 2028. The new stores will mark the brand’s entry into Rajasthan and expand its presence within Madhya Pradesh.
The DRHP states that Kataria Jewellers intends to deepen its presence across Central India and the adjacent state of Rajasthan, targeting markets where it expects existing brand recognition to support store ramp-up.
For fiscal 2026, the company reported revenue from operations of Rs 477.87 crore, compared with Rs 320.46 crore in fiscal 2025. EBITDA stood at Rs 68.98 crore, against Rs 24.43 crore a year earlier, while net profit increased to Rs 44.55 crore from Rs 13.11 crore.
The company also plans to transition towards a hybrid sourcing model, including greater in-house manufacturing, as part of its strategy to strengthen supply chain capabilities and improve operating margins.
The Kataria Jewellers brand traces its origins to 1909, when Shri Dhulchand Ji Sa Kataria established it as Daulatram Dhulchand. The name was changed to Dhulchand Pannalal in 1962 and later rebranded as Kataria Jewellers in 1999. The company operates two stores in Ratlam, Madhya Pradesh, in addition to its recently opened showroom in Indore.
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