Master Chains N Jewels Ltd has filed preliminary documents with the Securities and Exchange Board of India (SEBI) to launch an initial public offering.
The company aims to raise ₹400 crore through a fresh issue of shares, marking its entry into the public equity markets.
The capital raise is intended to fund the expansion of the firm’s gold jewellery manufacturing and wholesale distribution operations.
As an organised player in a sector often dominated by unorganised retailers, the move signals a push for scale and formalisation in the supply chain.
The filing comes as Indian capital markets see increased activity from mid-cap and SME issuers.
Recent examples include Millworks Technologies, which announced plans to raise ₹160 crore on the BSE SME platform, and Advit Jewels, whose IPO attracted significant investor interest with a subscription multiple of over 44 times.