Omara Ventures India Limited

Omara Ventures India Limited, originally incorporated in October 2020 as Omara Ventures India Private Limited and converted into a public limited company in February 2026, is a boutique retail jewellery enterprise operating under the flagship brand name “Omara”. Headquartered in Chandigarh, the company specializes in design-led gold, platinum, and silver jewellery studded with natural diamonds, solitaires, and precious or semi-precious gemstones. Its core value proposition centers on offering curated, limited-quantity collections that combine traditional craftsmanship with contemporary luxury aesthetics. The company operates an asset-light business model focused on in-house conceptualization, design development, customer preference analysis, and retail merchandising, while outsourcing physical manufacturing to contracted product development and supply arrangement partners.

The company primarily targets business-to-consumer (B2C) retail buyers across high-net-worth individual (HNI) and premium consumer demographics, catering to bridal, festive, special occasion, gifting, and daily-wear segments. Geographically, operations are heavily concentrated in the Union Territory of Chandigarh, where its flagship retail boutique generated 82.92% (₹38.04 Cr) of total operational revenue in FY26. Customers from Maharashtra accounted for 16.34% (₹7.50 Cr), with the remaining volume distributed across Punjab and other regional markets.

As a specialized, retail-oriented jewellery enterprise, Omara Ventures India Limited does not own or operate physical manufacturing plants, production factories, or industrial heavy machinery, and consequently, quantitative factory capacity utilization figures are not applicable to its operational model. Core operations are managed out of its leased flagship retail boutique and corporate office located at SCO 162 & 163, Sector 9-C, Madhya Marg, Chandigarh, spanning a 15-year lease tenure through September 2037. The boutique is equipped with point-of-sale infrastructure, inventory management systems, computer surveillance, and private client consultation suites.

Operational and design capabilities are driven by an in-house product curation team that evaluates evolving consumer trends, metal usage, gemstone setting, and wearability. While the physical casting and setting are executed by verified trade partners, the company exercises strict quality control, ensuring all gold jewellery carries Bureau of Indian Standards (BIS) Hallmarking Unique Identification (HUID) and diamonds are accompanied by certifications from international gemological bodies such as the Gemological Institute of America (GIA). To protect brand authenticity, the proprietary “Omara” logo or brand insignia is embossed directly on each jewellery piece wherever technically feasible.

Based on its historical financial data, Omara Ventures India Limited posted total income and net profits of ₹23.19 Cr / ₹0.31 Cr in FY24, ₹23.52 Cr / ₹2.73 Cr in FY25, and ₹45.87 Cr / ₹9.37 Cr in FY26. The company has demonstrated robust top-line and bottom-line expansion, with Total Income growing at a 2-year CAGR of 40.63% and PAT expanding at a 2-year CAGR of 448.65%. Total debt increased from ₹11.25 Cr in FY24 to ₹13.95 Cr in FY25 and ₹22.43 Cr in FY26 to finance inventory accumulation, maintaining a Debt-to-Equity ratio of 1.79x. It boasts an average EPS of ₹18.75 and an average RoNW of 78.37% for the last three fiscals. Based on the pre-issue book value, the issue is priced at a Pre-Issue P/BV of 7.47 against a NAV of ₹41.61 (as of March 31, 2026). Factoring in the fresh issue proceeds, the Post-Issue P/BV stands at 2.69. Attributing the latest earnings to the expanded post-issue equity base, the asking price translates to a Post-Issue P/E of approximately 435.88x (FY24), 49.64x (FY25), and 14.48x (FY26). According to the RHP, a comparison between listed peers is shown in above table.

On the Book Running Lead Manager (BRLM) front, the issue is managed by Wealth Mine Networks Limited, which has handled 6 public issues to date. Out of its last 6 managed IPOs, one listed below the issue price, while the remaining five listed at or above it. Bigshare Services Private Limited is acting as the Registrar to the Offer.

• 1 Mr. Samarth Jaiswal
• 2 Mrs. Ishani Mehta Jaiswal