Jewellery firm Royal Chain, paints maker Technopaints file papers for IPOs; target fundraise of Rs 1,500 cr

Jewellery manufacturing firm Royal Chain Ltd and paints & coatings maker Technopaints and Chemicals Ltd have filed preliminary papers with markets regulator Sebi to raise a combined Rs 1,500 crore through initial public offerings (IPOs).

Royal Chain is looking to raise Rs 1,000 crore through its maiden public offering, while Technopaints and Chemicals is aiming to mobilise Rs 500 crore, according to their draft red herring prospectuses (DRHPs) filed on Monday.

Royal Chain's IPO comprises a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of shares worth up to Rs 150 crore by its promoters and existing investors.


The company proposes to utilise the net proceeds from the fresh issue towards repayment or prepayment, in part or full, of certain outstanding loan facilities and accrued interest, with the remaining funds to be used for general corporate purposes.

Royal Chain is a vertically integrated, technology-driven original design manufacturer (ODM) of gold chains and jewellery, operating across the value chain from conceptualisation and design to prototyping and manufacturing.

The company serves a broad customer base that includes organised retailers such as Titan Company, Kalyan Jewellers India, P N Gadgil Jewellers, Senco Gold, Kalamandir Jewellers, Thangamayil Jewellery and D.P. Abhushan, among others.

As of June 30, 2026, Royal Chain had a product portfolio of more than 27,000 designs. Its offerings are marketed under in-house brands including Rico, SAR and Anamitra, a children's jewellery brand, as well as collections such as Aalishaan Jewels, Orant and Indigo.

The company operates a manufacturing facility in Mahape, Maharashtra.

Technopaints and Chemicals' IPO comprises a fresh issue of equity shares worth up to Rs 325 crore and an OFS of shares worth up to Rs 175 crore.

Proceeds from the fresh issue are proposed to be utilised towards capital expenditure for setting up a greenfield paints manufacturing and innovation facility, part-funding incremental working capital requirements and general corporate purposes.

Technopaints offers a range of paint and coating products, including emulsions, primers, enamels, putties, textures and speciality coatings. Its portfolio also includes decorative and speciality finishes through its wholly owned subsidiary, Richwaves Specialities Pvt Ltd.

Technopaints has a presence across Southern India, with Telangana being one of its key markets. The company has expanded its operations across 10 states and Union Territories and has offices in Ahmedabad, Mumbai, Bengaluru and Delhi.

As of July 31, 2026, the order book stood at Rs 994.69 crore, comprising 126 turnkey paint projects.

In August 2026, Technopaints acquired Richwaves Specialities, expanding its portfolio into luxury and specialised decorative finishes. The company has also appointed Sachin Tendulkar as the brand ambassador for the Technopaints brand.

For fiscal 2026, Technopaints reported revenue from operations of Rs 350 crore and profit after tax of Rs 37 crore. PTI