On July 23 and 24, 2026, the Securities and Exchange Board of India (SEBI) issued observations on the draft red herring prospectuses (DRHPs) of Nityas Gems and Jewellery and Intellius Recode, respectively. The observations mean the companies are cleared to launch their initial public offerings within the next year. Both firms had filed their DRHPs with SEBI in March 2026.
Surat‑based Nityas Gems and Jewellery plans an IPO of up to 1.44 crore equity shares, all of which will be a fresh issue. The company intends to use Rs 70 crore of the net proceeds for working capital, while the rest will fund general corporate needs. The jeweller aims to strengthen its position in the diamond‑studded gold market.
Intellius Recode, a Chennai‑based technology and digital automation services provider, seeks to raise Rs 117 crore. The raise will come from a fresh issue of shares and an offer‑for‑sale of 12.9 lakh equity shares, with promoter ReCode Solutions Inc selling its stake. Proceeds will fund Digital Workers development (Rs 43.1 crore) and subcontracting fees (Rs 38.4 crore), with the remainder for general purposes.
Choice Capital Advisors has been appointed as the merchant banker for the Nityas Gems and Jewellery IPO, while Inga Ventures will lead the book‑running for Intellius Recode. Both banks will manage the pricing, underwriting, and distribution of the shares. Their involvement is expected to help the companies reach a wide investor base.
With SEBI’s green light, both Nityas Gems and Jewellery and Intellius Recode are poised to tap the public markets. Investors can look forward to new opportunities in the jewellery and technology sectors. The companies will soon announce detailed pricing and timelines for their respective offerings.