Indian Jewelry Maker Emerald Jewel Said Planning IPO for Up to $300 Million

Emerald Jewel Industry India Ltd., one of the country’s largest jewelry manufacturers, is weighing an initial public offering that could raise as much as $300 million, according to people familiar with the matter, potentially paving the way for India’s biggest listings in the sector.

The Coimbatore-based company has appointed Axis Bank Ltd., Motilal Oswal Investment Advisors Ltd. and SBI Capital Markets Ltd. as advisers for the proposed share sale, the people said, asking not to be identified because the discussions are private. Additional advisers may be added at a later stage, they said.