Omara Ventures India Ltd. IPO: dates, price band, issue size and key details for the BSE SME listing

Omara Ventures India Limited is set to launch an SME initial public offering (IPO) on the BSE SME platform. The IPO is scheduled to open on 30 September 2026 and close on 5 October 2026, with listing planned for 8 October 2026. The price band is ₹296 to ₹311 per share and the lot size is 400 shares, implying a minimum application amount of ₹1,24,400 at the upper band. The total issue size is ₹41.99 crore and the issue is entirely a fresh issue (Offer for Sale, or OFS, is ₹0), meaning the proceeds are intended to accrue to the company rather than to selling shareholders.

What Omara Ventures India does

Omara Ventures India Limited is a Chandigarh-based retail jewellery company selling designer diamond and gemstone jewellery, along with gold jewellery and select silver products, under the Omara brand through its boutique showroom. Its positioning in the offer context is around premium, certification-backed products, including BIS hallmarking and diamond grading where applicable, with collections aimed at weddings, festive occasions and daily wear.

The operating approach described combines in-house design and curation with manufacturing executed through external product development and supply partners. In practice, this places product assortment and design selection with the company while depending on vendor execution for production. For a boutique-led retailer, this model can shape how inventory is planned, how quickly new designs can be introduced, and how the brand experience is delivered at the showroom level.

Corporate milestones ahead of the IPO

The company has undergone a sequence of corporate changes in the years leading up to the proposed listing. Omara Ventures India was incorporated in 2020 as Omara Ventures India Private Limited. In 2025, it shifted its registered office from Haryana to Chandigarh. In 2026, it converted from a private limited company to a public limited company and was renamed Omara Ventures India Limited.

The IPO is framed as a proposed SME listing, with the Red Herring Prospectus (RHP) context and auditor’s report referencing the intended offering. The disclosures also note that the company has opted for the concessional corporate tax regime under Section 200 of the Income Tax Act, 2025 for computing its tax liability.

IPO structure, reservations, and proposed use of proceeds

The Omara Ventures India Ltd. IPO is structured as a 100% fresh issue with no OFS component. For investors, this distinction is important: fresh issue proceeds go to the company, while OFS proceeds (if any) would go to selling shareholders. Here, the entire issue size is intended to provide funds to the company, subject to issue expenses.

The company’s stated objects of the issue include:

Renovation and expansion of the jewellery boutique; marketing and promotional expenses to enhance local brand awareness and visibility of the Omara brand; repayment or prepayment (in full or in part) of borrowings from banks and financial institutions; funding long-term working capital requirements; and general corporate purposes.

In the disclosed proposed allocation, the identified amounts include ₹2.00 crore each for boutique renovation/expansion and marketing and promotions, ₹18.00 crore for repayment or prepayment of borrowings, and ₹10.00 crore for long-term working capital, with general corporate purposes indicated without a specified amount.

On investor allocation, the issue includes reservations across Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs) and Retail Individual Investors. The disclosures also outline an anchor investor allocation framework within the QIB portion, including a stated anchor portion of QIB and a domestic mutual fund reservation within that anchor portion. Separate reservation amounts are also disclosed for employee and shareholder categories.

Financial trajectory and profitability trends

Across the reported periods, the company’s disclosed financials indicate a change in scale and profitability. Total revenue was ₹23.19 crore in FY2024 and ₹23.52 crore in FY2025, before rising to ₹45.87 crore in FY2026. Profit after tax (PAT) rose from ₹0.31 crore in FY2024 to ₹2.73 crore in FY2025 and ₹9.37 crore in FY2026.

The reported PAT margin expanded over the same period, moving from 1.34% in FY2024 to 11.61% in FY2025 and 20.42% in FY2026. Total assets increased from ₹26.44 crore in FY2024 to ₹29.46 crore in FY2025 and ₹47.25 crore in FY2026.

Alongside the financial statements, the IPO disclosures include key performance indicators (KPIs) such as EPS, return ratios (Return on Equity, Return on Capital Employed and Return on Net Worth), EBITDA margin (treated as a margin percentage), PAT margin, debt-to-equity ratio, and valuation multiples such as pre-IPO P/E and price-to-book. These metrics provide a framework for comparing the offer pricing with reported earnings and balance-sheet position, within the context of a boutique-led retail jewellery business model and the stated plan to use proceeds for debt repayment and working capital.

Valuation and market indicators: price band, application size, and GMP

The IPO price band is ₹296 to ₹311 per equity share. With a lot size of 400 shares, applications are to be made in multiples of the lot, and the minimum application amount at the upper band is ₹1,24,400.

The IPO is scheduled to open on 30 September 2026 and close on 5 October 2026, with allotment dated 6 October 2026, refunds dated 7 October 2026, and listing planned for 8 October 2026.

The offer disclosures also include a pre-IPO P/E multiple of 10 (based on the provided KPI set), an EPS of ₹31.11, and a price-to-book multiple of 7.47, along with a debt-to-equity ratio of 1.79. As with any offer document, these figures are best read alongside the company’s stated objects for raising funds and the operating profile described.

Grey market premium (GMP) is an unofficial indicator outside exchange trading and can change quickly; it is not part of the formal IPO price discovery process. In the latest available observations in the provided context (limited to the snapshot entries), GMP is reported as ₹0 on the listed dates, with referenced issue prices of ₹311 (two observations) and ₹111 (one observation).

Because the IPO status is “Upcoming” at the snapshot date, the issue has not opened for subscription yet. Category-wise bidding data would typically begin updating once the issue opens on 30 September 2026.

Key risks and monitoring points

The risk disclosures in the provided context highlight concentration-related exposures. One risk cited is supplier concentration: reliance on a small number of vendors can create vulnerability to disruption or pricing changes, and can affect the availability of new designs. Another risk cited is dependence on repeat and key customers, which can affect revenue and cash generation if a small set of relationships changes. A further risk cited is geographic concentration, with most revenue coming from Chandigarh, creating exposure to local demand conditions and competition.

Monitoring points to track through the IPO period and early post-listing disclosures, based on the stated business profile and objects of the issue, include the following. Monitor whether the planned boutique renovation and expansion progresses in line with the stated capital expenditure objective. Monitor changes in borrowings following the proposed repayment or prepayment objective, as subsequent disclosures reflect updated leverage and finance costs. Monitor working-capital deployment, given the stated use of proceeds for long-term working capital requirements in an inventory-led retail business. Monitor the scale and consistency of local marketing and promotional initiatives aligned with the stated goal of improving Omara brand visibility.

Complete numeric snapshot

IPO terms and schedule

Key performance indicators and valuation

Category reservations and anchor allocation

Proposed use of fresh issue proceeds

Subscription status (24 Sep 2026)

Grey market premium (GMP) trend

GMP is an unofficial market indicator and can change; these are dated snapshot observations, not a listing forecast.