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Baanganga Gold & Diamond Files Rs 720-Crore IPO Draft Papers
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News18•26-09-2026, 12:15
Baanganga Gold & Diamond Files Rs 720-Crore IPO Draft Papers
- •Baanganga Gold & Diamond (I) Ltd, an integrated manufacturer of gold and diamond jewellery, has filed draft papers with SEBI for an Initial Public Offering (IPO) to raise up to Rs 720 crore.
- •The IPO comprises a fresh issue of equity shares worth up to Rs 540 crore and an Offer For Sale (OFS) of shares worth up to Rs 180 crore, with promoters Navratanmal Jeetmal Ganna and Jinesh Navratanmal Ganna selling shares.
- •The company plans to utilize Rs 405 crore from the fresh issue to fund its working capital requirements across fiscal 2027, 2028, and 2029, with the remaining proceeds for general corporate purposes.
- •Baanganga designs, manufactures, and sells gold and diamond jewellery, catering to major organized retail chains like Joyalukkas India, Malabar Gold and Diamonds, and Kalyan Jewellers.
- •As of July 31, 2026, the company boasted over 5 lakh designs, 579 clients across 18 states and four Union Territories, and exports to seven countries with more than 25 international clients, operating three manufacturing facilities in Mumbai.
Key Questions Answered
Baanganga Gold & Diamond (I) Ltd has filed draft papers with Sebi to raise up to Rs 720 crore through its initial public offering (IPO).
The company plans to use Rs 405 crore from the fresh issue to fund its working capital requirements across fiscal years 2027, 2028, and 2029. The remaining proceeds will be allocated toward general corporate purposes.
Under the offer for sale (OFS) component of up to Rs 180 crore, promoters Navratanmal Jeetmal Ganna and Jinesh Navratanmal Ganna will sell shares worth up to Rs 120 crore and Rs 60 crore, respectively.
