Deepa Jewellers IPO

The Deepa Jewellers mainboard IPO is open between 1 Sept 2026 and 3 Sept 2026, offered at a price band of ₹168–177 per share, and is set to list on NSE and BSE. The IPO seeks to raise ₹459.72 crore. Retail investors bid in lots of 84 shares, a minimum application of ₹14,868.

Issue structure

The offer combines a fresh issue of ₹250 crore with an offer for sale (OFS) of ₹209.72 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory by the company (₹215 crore), alongside general corporate purposes.

Financials

In FY2026, Deepa Jewellers reported revenue of ₹1,927.73 crore and a net profit of ₹104.79 crore. Revenue grew from ₹1,025.73 crore in FY2024 to ₹1,927.73 crore in FY2026 (+88.0%). Net worth stood at ₹238.07 crore at the end of FY2026. At the upper band, that puts the issue at roughly 35.8× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Peer comparison

The offer document names listed peers including Khazanchi Jewellers Ltd and Rbz Jewellers Ltd, with a median peer P/E of about 17×.

Promoters

The promoters of the company are <p>Ashish Agarwal, Seema Agarwal, Dev Agarwal</p>. Promoter holding stands at 100% before the issue and comes down to 72.98% after listing.

Grey market premium (GMP)

In the unofficial grey market, Deepa Jewellers shares are quoted at a premium of ₹22 implying an expected listing around ₹199, about +12.4% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Deepa Jewellers IPO was subscribed 43.4 times overall. The strongest demand came from non-institutional investors (NII) at 109.04 times, with qualified institutional buyers (QIB) at 36.73× and retail investors at 19.09×.

What to weigh

When evaluating the Deepa Jewellers IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Deepa Jewellers

Deepa Jewellers Ltd. is engaged in the retail and wholesale trading of gold and diamond jewellery, offering a wide range of traditional and contemporary designs catering to diverse customer preferences. The company focuses on sourcing, designing, and selling jewellery products including rings, necklaces, earrings, bangles, and customized ornaments crafted with quality materials and skilled workmanship. Deepa Jewellers Ltd. emphasizes purity, transparent pricing, and customer trust, operating through physical stores and distribution channels while adhering to regulatory standards and evolving jewellery market trends. Product Portfolio: Vaddanam (waist belt), CNC machine cut bangles, gents kada, vanky(armlet), dandpatti (bajuband), gundlamala haaram (traditional neck piece), gundlamala necklace, kangan, earring, mangtika (forehead pendant), maatil (ear chain), champasaralu (ear to hair chain), jada (braid ornament), and rings. As on November 30, 2025, they have a product portfolio of 14 products and 76 SKUs across&nbsp;their product categories. Competitive Strengths: Strong presence in southern market Well established customer base with long-standing relationship with jewellery retail chains and standalone stores Diverse product portfolio with varied weight ranges, designs and specialisation in vadannam and CNC machine cut bangles Established procurement network and long -standing relationship with karigars Well experienced Promoters and a professional management team with sectoral experience