Organised gold jewellery manufacturer and wholesale distributor Master Chains N Jewels Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The proposed IPO comprises a fresh issue of equity shares worth up to Rs 400 crore and an Offer for Sale (OFS) of up to 59.06 lakh equity shares by promoter Taruna Madan Kothari, according to the draft red herring prospectus (DRHP) filed on Saturday.
The proceeds from the fresh issue will be utilised towards funding the company's working capital requirements and for general corporate purposes.
Master Chains N Jewels is engaged in the designing, manufacturing, job-work services and sale of a wide range of gold jewellery, including lightweight jewellery.
It caters to customers across India through its wholesale distribution network and manufacturing capabilities.
As of June 30, 2026, the company had a design database of around 80,666 jewellery designs.
It 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.
Systematix Corporate Services is the sole book-running lead manager to the issue, while Bigshare Services is the registrar to the offer.
