D.P. Abhushan Ltd (DPAL) is launching its maiden IPO of 5932000 equity shares of Rs. 10 each with a fixed price of Rs. 28 per share to mobilise Rs.16.61 crore. Issue opens for subscription on 9th October 2017 and will close on 11th October 2017.

Issue is solely lead managed by Hem Securities Ltd. and Bigshare Services Pvt. Ltd. is the registrar to the issue.

The company was incorporated in 2017 by conversion of a partnership firm M/s D. P. Abhushan (formerly known as M/s D.P. Jewellers) into the Company as D. P. Abhushan Limited under the provisions of Companies Act, 2013.

The company is engaged in the retail business of jewellery and ornaments  of gold, diamonds and platinum studded with precious and semi-precious stones. The company's portfolio includes rings, earrings, armlets, pendants, gajrahs, nose rings, bracelets, chains, necklaces, bangles and other wedding jewellery. It has four showrooms under the “D.P. Jewellers” brand located in Ratlam, Indore, Bhopal and Udaipur.

The company has plans to expand its retail network by opening another showroom in Indore, Madhya Pradesh by the end of October’17.