Grover Jewells IPO
Open SmeCurrent GMP
₹2 (+2.27%)
Price Band
₹ 83 – 88
Lot Size
1600
Issue Size
₹34 Cr
Minimum Investment
₹281600 (3200 Shares)
Listing Date
11 February 2026
Subscription
19.24x
About the Company
Incorporated in 2021, Grover Jewells Limited is engaged in the manufacturing and design of a diverse range of wholesale gold jewellery. The company offers an extensive product portfolio comprising plain gold jewellery, studded jewellery, and semi-finished jewellery, primarily crafted in 22 Karat, 20 Karat, and 18 Karat gold.
Grover Jewells Limited supplies both hallmarked and non-hallmarked jewellery and operates through two retail showrooms strategically located at Karol Bagh, New Delhi, and Chandni Chowk, Delhi.
The company’s operations are broadly divided into two key manufacturing segments:
- Machine-made chain manufacturing, catering to high-volume requirements, and
- Casting jewellery production, focused on contemporary and fashion-oriented designs.
This dual-segment approach enables the company to maintain consistent product quality while ensuring timely delivery across varied customer demands.
For operational and reporting purposes, Grover Jewells Limited classifies its sales into three divisions:
- Wholesale sales,
- Retail sales, and
- Consumer sales.
Headquartered in Delhi, the company has developed a robust B2B distribution network spanning approximately 20 states across India. In addition to its domestic presence, Grover Jewells Limited has expanded its international reach through exports to Australia and the United Arab Emirates (U.A.E.).
As of August 31, 2025, the company employed 68 personnel, supporting its manufacturing, sales, and administrative operations.
Promoters
- Mr. Deepak Kumar Grover
- Mr. Lavkesh Kumar Grover
- Mrs. Bhawna Grover
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
73.48%
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Working Capital Requirements
- General corporate purposes
Address / Contact Info
Grover Jewells Ltd. Address
House No C-44/5
1st Floor Lawrance, Road Industrial Area
Keshavpuram Ind Area, North West
Delhi, New Delhi, 110035
Email ID:cs@groverjewells.com
Tel No: +91 9218012596
Website:http://www.groverjewells.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 04 February 2026
IPO Close Date
Friday, 06 February 2026
Basis of Allotment
Monday, 09 February 2026
Initiation of Refunds
Tuesday, 10 February 2026
Credit of Shares to Demat
Tuesday, 10 February 2026
Listing Date
Wednesday, 11 February 2026 — NSE & BSE
Important Dates
Open Date
04 February 2026
Close Date
06 February 2026
Basis Of Allotment
09 February 2026
Listing Date
11 February 2026
Financial Performance (₹ in Crores)
| Particular | 31 Oct 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 67.51 | 29.85 | 13.91 | 11.71 |
| Revenue | 473.22 | 460.95 | 258 | 255.11 |
| Profit After Tax | 10.45 | 7.62 | 2.78 | 2.71 |
| Net Worth | 27.14 | 16.69 | 9.07 | 6.29 |
| Reserve & Surplus | 16.48 | 14.03 | 6.41 | 3.63 |
| Total Borrowings | 28.3 | 9.34 | 4.17 | 3.74 |
EPS Pre
7.15%
EPS Post
12.35%
P/E Pre
12.31
P/E (Post Issue)
7.12x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Oct 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| ROE % | 0 | 0 | 0 | 0 |
| ROCE % | 30.62 | 45 | 28.73 | 36.52 |
| Debt / Equity | 1.04 | 0.56 | 0.46 | 0.59 |
| RoNW % | 38.52 | 45.67 | 30.65 | 43 |
| PbW | 0 | 0 | 0 | 0 |
| Pat Margin % | 2.21 | 1.65 | 1.08 | 1.06 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 729600 | 28.52 | 0 |
| Non-Institutional | 548800 | 21.45 | 0 |
| BNII | 364800 | 14.26 | 0 |
| SNII | 184000 | 7.19 | 0 |
| Retail Investors | 1280000 | 50.03 | 0 |
| Total | 2558400 | 100 | 0 |
Subscription Status ( Fri, 06 Feb 26 01:52 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 729600 | 8256000 | 11.32x |
| Non-Institutional | 548800 | 20809600 | 37.92x |
| BNII | 364800 | 16475200 | 45.16x |
| SNII | 184000 | 4334400 | 23.56x |
| Retail Investors | 1280000 | 20147200 | 15.74x |
| Total | 2558400 | 49212800 | 19.24x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| Grover Jewells Ltd | 10 | 0.00 | 7.15 | 7.15 | 45.67 | 15.66 |
| Shanti Gold International Ltd | 10 | 20.71 | 10.34 | 10.34 | 36.56 | 21.13 |
| Retaggio Industries Ltd | 10 | 9.08 | 2.60 | 2.60 | 11.57 | 13.51 |
| RBZ Jewellers Ltd | 10 | 14.18 | 9.70 | 9.70 | 15.86 | 61.26 |
| Utssav CZ Gold Jewels Ltd | 10 | 19.01 | 11.63 | 11.63 | 19.76 | 53.23 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | 281,600.00 |
| Retail (Max) | 2 | 3,200 | 281,600.00 |
| S-HNI (Min) | 3 | 4,800 | 422,400.00 |
| S-HNI (Max) | 7 | 11,200 | 985,600.00 |
| B-HNI (Min) | 8 | 12,800 | 1,126,400.00 |
Registrar
Maashitla Securities Pvt. Limited
011-45121795-96
investor.ipo@maashitla.com
https://www.maashitla.com
Book Running Lead Managers
- Finshore Management Services Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Grover Jewells IPO is a Book-building IPO worth ₹34 crores. The price band is ₹83 to 88 per share. The IPO opens on Wed, Feb 4, 2026 and closes on Fri, Feb 6, 2026. It will be listed on BSE and NSE. Maashitla Securities Pvt. Limited is the registrar.
The Grover Jewells IPO opens on Wed, Feb 4, 2026 and closes on Fri, Feb 6, 2026
Grover Jewells IPO Price Band is ₹83 to 88.
Grover Jewells IPO lot size is 1600, and the minimum amount required for application is ₹281600.
The minimum investment for Grover Jewells IPO is approximately ₹281600 based on the upper price band.
To apply for the Grover Jewells IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Feb 6, 2026. After submission, funds are blocked until the basis of allotment of Grover Jewells IPO is finalised.
Grover Jewells IPO issue size is ₹34 crores.
Grover Jewells IPO allotment date is Sat, Jun 27, 2026.
The registrar for Grover Jewells IPO is Maashitla Securities Pvt. Limited. Investors can go to Maashitla Securities Pvt. Limited website for IPO allotment status, refund processing, and other queries related to Grover Jewells IPO through their official website or helpline.
The Grover Jewells IPO GMP (Grey Market Premium) is ₹0 as of Wed, Feb 11, 2026. Based on the upper price band of ₹88 per share, the estimated Grover Jewells IPO listing price is ₹88, indicating a potential listing gain of approximately 31% over the issue price.