New Delhi, Aug. 24 -- Priority Jewels has announced the price band for its upcoming initial public offerings (IPOs). The company has set the price band at Rs.190- Rs.200 per share with a face value of Rs.10.

The Priority Jewels IPO is a book-built issue comprising a fresh issue of Rs.91.50 crore, aggregating to 45,75,000 shares. The IPO will open for subscription on August 28 and remain open until September 1.

The company intends to utilise Rs.75 crore from the fresh issue proceeds towards the full or partial repayment/pre-payment of certain borrowings, with the balance earmarked for general corporate purposes.

Under the Priority Jewels IPO, up to 50% of the net offer is reserved for qualified institutional buyers (QIBs), while at leas...