Mumbai heaquartered diamond manufacturer-exporter Perry Impex Private Limited has announced plans to raise Rs. 17.05 crore through an IPO later this year. The company has filed a DRHP with the SME Platform of BSE giving the details of the proposed issue.

According to the document, Perry Impex plans to issue 31 lakh equity shares to the public at a price of Rs 55 per share.

From the proceeds of the IPO, an amount of Rs 16 crore will be allocated towards long term working capital requirements while the remainder  will be used for meeting general corporate expenses.

The company traces its roots in the diamond industry to 1977 when founder Popatlal Mangukiya set up a diamond business in Surat. The business was converted into a partnership firm in 1997 and was incorporated as a private limited company in 2010.

Perry Impexhas operations across the pipeline including manufacturing / processing and export of polished diamonds and diamond jewellery. It has some in-house manufacturing facilities and has recently launched the ‘Perrian’ brand in the retail sector.

In addition to its Gems and Jewellery business, Perry Impex has also recently established operations in the textile industry through its subsidiary - Perrian Lifestyle Private Limited.