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.

The proposed IPO comprises a fresh issue of up to 16 million equity shares with a face value of INR 10 each. The net proceeds of INR 154.9 crore are proposed to be used to fund capital expenditure for two new stores, repay or prepay certain borrowings and meet general corporate purposes.

The company, incorporated in 1996, is an organised jewellery retailer with operations concentrated in Madhya Pradesh. Its portfolio includes gold, platinum, silver and diamond jewellery, including polki diamonds, along with bullion and silver articles. It also supplies jewellery to other retailers.

Kataria Jewellers currently operates three stores, located in Ratlam and Indore. The company opened its first Ratlam store in FY23, followed by a second Ratlam outlet in FY24 and its Indore store in FY26.

The company plans to add stores in Kota, Rajasthan, and Ujjain, Madhya Pradesh. The Kota store, with a proposed area of around 3,600 sq ft, is expected to open in FY27, while the approximately 4,800 sq ft Ujjain store is targeted for FY28. Both projects are proposed to be funded from the IPO proceeds.

As of June 30, 2026, the company had 220 SKUs across its jewellery categories. Revenue from operations rose to INR 477.8 crore in FY26, from INR 152.9 crore in FY24, while net profit increased to INR 44.5 crore from INR 2.3 crore over the same period.

The proposed equity shares are to be listed on BSE and NSE. Smart Horizon Capital Advisors is the book-running lead manager and Bigshare Services is the registrar.