Omara Ventures India Sets Price Band at Rs 296-311 for Rs 41.99 Crore BSE SME IPO

Chandigarh-based luxury jewellery retailer Omara Ventures India Limited has filed its Red Herring Prospectus (RHP) with the market regulator, detailing plans to float an initial public offering (IPO) on the BSE SME platform to raise approximately ₹41.99 crore at the upper end of its price band.

The public issue is scheduled to open for subscription on Wednesday, September 30, 2026, and will close on Monday, October 5, 2026. The company has secured in-principle approval from BSE Limited for listing its equity shares on the exchange's dedicated SME platform.

Issue Structure and Key Dates

The public issue comprises a fresh offering of up to 13,50,000 equity shares of face value of ₹10 each. The company has fixed a price band of ₹296 to ₹311 per equity share.

Key details of the offering include:

• Issue Window: September 30, 2026 to October 5, 2026
• Price Band: ₹296 to ₹311 per equity share
• Lot Size: 400 equity shares (minimum application of 2 lots, or 800 equity shares, amounting to ₹2,48,800 at the upper price band)
• Issue Size: Up to ₹41.99 crore at the upper end
• Tentative Allotment & Listing: Share allotment is anticipated around October 6, 2026, followed by a BSE SME listing expected on October 8, 2026.

Business Model and Operations

Incorporated in October 2020, Omara Ventures India Limited operates in the luxury and premium designer jewellery space under its flagship brand "OMARA". The company retails collections crafted using natural diamonds, precious and semi-precious gemstones, and metals including gold, platinum, and silver.

Its product portfolio covers bridal sets, festive collections, gifting items, and everyday luxury pieces, including rings, necklaces, earrings, and bracelets. OMARA's operations are centred around in-house design conceptualisation, curated merchandising, and customisation services for private clients, operating primarily out of its flagship retail boutique in Chandigarh.

Financial Snapshot

The company has registered sharp top-line expansion in recent operational cycles:

• FY26 Revenue: Approximately ₹45.87 crore
• FY25 Revenue: Approximately ₹23.52 crore

The year-on-year revenue surge highlights accelerating market demand for branded designer jewellery in Tier-1 and regional urban centres, driven by evolving consumer appetites for certified diamond jewellery and design-led luxury goods.

Objects of the Issue

Net proceeds from the fresh capital raise are slated to support multiple business growth initiatives.

The primary objectives include:

• Renovation and physical expansion of the brand's jewellery boutique footprint
• Marketing and targeted promotional activities to build brand recognition for OMARA
• Prepayment or repayment of outstanding borrowings to deleverage the balance sheet
• Meeting long-term working capital requirements to finance inventory and procurement
• General corporate purposes

With the domestic jewellery segment seeing increasing formalisation and a continuous shift from unorganised stores to organised boutique brands, Omara Ventures' entry into the primary market is positioned to strengthen its working capital base and brand footprint.

Tags: Omara Ventures India BSE SME Gems and Jewellery Initial Public Offering SEBI