Tanvi Exports files for IPO: 5 key highlights from gold jewellery maker’s DRHP
Rajkot-based gold jewellery maker plans to raise funds for debt repayment and working capital
Tanvi Exports India Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for its proposed initial public offering (IPO).
The Rajkot-based company designs, manufactures and exports fine gold jewellery and accounts for around 8% of Gujarat's overall gold jewellery exports. Its product portfolio includes gold jewellery in different karatages, Italian machine-made chains, bridal and occasion jewellery, casting jewellery, cubic zirconia (CZ)-studded jewellery, daily-wear products and lightweight and nano-lightweight jewellery.
Tanvi Exports operates an integrated manufacturing facility in Rajkot with in-house manufacturing capabilities and an installed capacity of 5,500 kg per annum. Its products are made using precious metals such as gold, silver and platinum, along with coloured and other gemstones.
5 key highlights from Tanvi Exports' DRHP
Here are the five key highlights from Tanvi Exports' DRHP:
- IPO structure: The company proposes to raise funds through an IPO comprising a fresh issue of up to 3,580,000 equity shares and an Offer for Sale (OFS) of up to 3,580,000 equity shares. The shares will have a face value of ₹10 each.
- Use of IPO proceeds: The net proceeds from the fresh issue will be used towards repayment or pre-payment of certain outstanding borrowings, funding incremental working capital requirements and general corporate purposes.
- Revenue growth: Revenue from operations increased from ₹1,374.60 million in fiscal 2024 to ₹10,084.05 million in fiscal 2025 and further to ₹11,399.36 million in fiscal 2026, representing a CAGR of 188% over the period. The company's export business also expanded from a single UAE order worth ₹43.40 million in fiscal 2024 to export revenue of ₹2,457.46 million across five countries in fiscal 2025.
- 4.Domestic and export markets: Tanvi Exports sells its products across 18 states and union territories in India and also exports to selected international markets, primarily the United Arab Emirates. Its customers include Joyalukkas, Kalyan Jewellers, Senco Gold, Chemmanur Gold Palace, Titan, Jos Alukkas and Novel Jewels, among others. As of March 2026, domestic revenue accounted for 84.35% of total revenue from operations, while exports contributed 15.65%.
- 5. IPO advisers: Aryaman Financial Services Limited is the Book Running Lead Manager to the offer, while Bigshare Services Private Limited is the Registrar to the Offer.
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