Deepa Jewellers IPO: Price Band, Lot Size, Financials & Review
Deepa Jewellers IPO listed on BSE & NSE on Tue, 8 Sep 2026. The issue was subscribed 42.61x overall.
- Open Date
- 1 Sep 2026
- Close Date
- 3 Sep 2026
Last updated
- Price band
- ₹168 – ₹177
- Lot size
- 84 shares
- Min. investment
- ₹14,868
- Issue size
- ₹459.72 Cr
- Last GMP
- +₹25
- Subscribed
- 🔥 42.61x
Deepa Jewellers IPO details
Deepa Jewellers IPO is a ₹459.72 Cr book-building IPO on the Mainboard segment, listing on BSE & NSE. It combines a fresh issue of ₹250 Cr (54.38%) with an offer for sale of ₹209.72 Cr (45.62%) by existing shareholders. Only the fresh issue money goes to the company.
The issue was open from Tue, 1 Sep 2026 to Thu, 3 Sep 2026. Allotment was finalised on Fri, 4 Sep 2026, and the shares listed on BSE & NSE on Tue, 8 Sep 2026.
The price band is ₹168 to ₹177 per share and the lot size is 84 shares, so the minimum retail application is ₹14,868. Retail investors can apply for up to 13 lots (1,092 shares, ₹1,93,284).
Bigshare Services Pvt Ltd is the registrar, and Emkay Global Financial Services Ltd and Valmiki Leela Capital Private Limited are the book running lead managers.
Grey market premium (GMP)
Day-wise GMP →The last Deepa Jewellers IPO GMP before listing was +₹25 (+14.12% against the upper price band of ₹177), implying an estimated listing price of ₹202. Across 10 days of tracking, GMP ranged from +₹18 (03 Sep) to +₹55 (31 Aug).
| Last GMP | +₹25 |
|---|---|
| GMP vs upper band | +14.12% |
| Estimated listing price | ₹202 |
| Highest (31 Aug) | +₹55 |
| Lowest (03 Sep) | +₹18 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Deepa Jewellers IPO day-wise GMP.
Subscription
Day-wise subscription →Deepa Jewellers IPO was subscribed 42.61x overall: QIB 37.00x, NII 105.96x and retail 18.55x.
| Category | Subscribed |
|---|---|
| QIB | 37.00x |
| NII | 105.96x |
| └ bNII (above ₹10 lakh) | 123.94x |
| └ sNII (₹2–10 lakh) | 69.98x |
| Retail | 18.55x |
| Total | 42.61x |
Final figures at the close of bidding on 3 Sep 2026. Category-wise bids, application-wise breakup and allotment chances are on the Deepa Jewellers IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 77,91,789 | 30.00% |
| Qualified Institutions | 51,94,528 | 20.00% |
| Non-Institutional | 38,95,895 | 15.00% |
| └ BNII | 25,97,263 | 10.00% |
| └ SNII | 12,98,632 | 5.00% |
| Retail Investors | 90,90,422 | 35.00% |
| Total | 2,59,72,634 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
Deepa Jewellers IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 84 | ₹14,868 |
| Retail (Max) | 13 | 1,092 | ₹1,93,284 |
| S-HNI (Min) | 14 | 1,176 | ₹2,08,152 |
| S-HNI (Max) | 67 | 5,628 | ₹9,96,156 |
| B-HNI (Min) | 68 | 5,712 | ₹10,11,024 |
Amounts at the upper end of the price band.
Issue structure and valuation
It combines a fresh issue of ₹250 Cr (54.38%) with an offer for sale of ₹209.72 Cr (45.62%) by existing shareholders. Only the fresh issue money goes to the company.
P/E is not meaningful here because earnings per share is zero or negative.
Listed peers with positive earnings trade at a median P/E of 17.02x (5 companies).
Promoter holding falls from 100.00% before the issue to 72.98% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹12.78 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | — |
| EPS (post-issue) EPS on the enlarged share capital | ₹0 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | — |
| Promoter holding (pre-issue) | 100.00% |
| Promoter holding (post-issue) | 72.98% |
Deepa Jewellers Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹1,400.1 Cr to ₹1,927.73 Cr, and profit after tax rose from ₹40.58 Cr to ₹104.79 Cr. The PAT margin for 31 Mar 2026 was 5.44%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 357.18 | 217.67 | 174.64 |
| Total Income | 1,927.73 | 1,400.10 | 1,025.73 |
| Profit After Tax | 104.79 | 40.58 | 24.35 |
| EBITDA | 146.34 | 56.01 | 35.77 |
| Net Worth | 238.07 | 133.21 | 92.55 |
| Reserve & Surplus | 221.67 | 129.11 | 88.45 |
| Total Borrowings | 111.11 | 80.79 | 77.93 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 56.45 | 35.95 | 30.30 |
| ROCE % | 52.08 | 30.60 | 22.76 |
| Debt / Equity | 0.47 | 0.61 | 0.84 |
| RoNW % | 56.45 | 35.95 | 30.30 |
| Pat Margin % | 5.44 | 2.90 | 2.37 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Deepa Jewellers Ltd | 2 | — | 12.78 | 12.78 | 56.45% | 29.03 |
| Sky Gold and Diamonds Ltd | 10 | 57.56 | 13.97 | 13.96 | 23.88% | 72.02 |
| Shanti Gold Internationa l Ltd | 10 | 12.72 | 21.22 | 21.22 | 37.34% | 83.00 |
| Shringar House of Mangalsutra Ltd | 10 | 17.02 | 13.55 | 13.55 | 26.29% | 70.29 |
| RBZ Jewellers Limited | 10 | 10.08 | 13.70 | 13.70 | 20.11% | 74.96 |
| Khazanchi Jewellers Ltd | 10 | 22.22 | 36.10 | 36.10 | 32.45% | 129.14 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory by the Company |
| 2 | General corporate purposes |
About Deepa Jewellers Limited
Deepa Jewellers Ltd. is engaged in the retail and wholesale trading of gold and diamond jewellery, offering a diverse range of traditional and contemporary jewellery designs to cater to varying customer preferences and occasions.
The company’s business activities encompass the sourcing, designing, manufacturing/finishing, and sale of jewellery products, with a focus on quality materials, skilled craftsmanship, and attractive designs. Its product offerings include a wide variety of jewellery such as rings, necklaces, earrings, bangles, traditional ornaments, and customized jewellery.
Deepa Jewellers Ltd. places significant emphasis on purity, transparent pricing, product quality, and customer trust. The company serves customers through its physical retail stores and distribution channels and seeks to maintain compliance with applicable regulatory requirements and industry standards. It also adapts its product offerings to changing customer preferences and evolving trends in the Indian jewellery market.
Product Portfolio
The company offers a broad portfolio of traditional and contemporary jewellery products across various categories. Its key products include:
Vaddanam – Traditional gold waist belt.
CNC Machine-Cut Bangles – Bangles featuring precision machine-cut designs and intricate patterns.
Gents Kada – Gold bracelets/kadas designed specifically for men.
Vanky (Armlet) – Traditional ornamental armlet worn on the upper arm.
Dandpatti (Bajuband) – Traditional upper-arm jewellery with decorative designs.
Gundlamala Haaram – Traditional long necklace featuring the characteristic gundlamala design.
Gundlamala Necklace – Necklace incorporating traditional gundlamala motifs.
Kangan – Traditional gold bracelet/bangle designs.
Earrings – A range of traditional and contemporary gold and diamond earrings.
Mangtika – Forehead ornament traditionally worn with ethnic and bridal jewellery.
Maatil – Decorative ear chain connecting the earring to the hair.
Champasaralu – Traditional ear-to-hair chain ornament.
Jada – Traditional jewellery used to adorn and decorate the hair braid.
Rings – Gold and diamond rings in a variety of traditional, contemporary, and customized designs.
Product Portfolio as of November 30, 2025
As of November 30, 2025, Deepa Jewellers Ltd. had a product portfolio comprising 14 distinct product categories and 76 SKUs. The portfolio reflects the company’s focus on offering a diverse selection of jewellery designs across traditional, bridal, men’s, and contemporary segments.
The combination of 14 product categories and 76 SKUs enables the company to address a broad range of customer requirements, including everyday jewellery, traditional and cultural ornaments, bridal jewellery, occasion-based products, and customized designs. The company’s product strategy is focused on maintaining a balance between established traditional designs and contemporary styles in line with changing consumer preferences.
Promoters
- Ashish Agarwal
- Seema Agarwal
- Dev Agarwal
Contact details
Deepa Jewellers Ltd.
Ground floor and first floor,
door no. 3- 6-343 & 344,
Basheerbagh, Himayathnagar,
Hyderabad, Telangana, 500029
Phone: + 91 76809 62117
Email: cs@deepajewel.com
Website: www.deepajewel.com
Deepa Jewellers IPO FAQs
- What is the Deepa Jewellers IPO price band?
- The Deepa Jewellers IPO price band is ₹168 to ₹177 per share.
- What is the Deepa Jewellers IPO lot size and minimum investment?
- The Deepa Jewellers IPO lot size is 84 shares. The minimum retail investment is ₹14,868 for one lot at the upper price band. Retail investors can apply for up to 13 lots (1,092 shares), costing ₹1,93,284.
- When was Deepa Jewellers IPO open for subscription?
- Deepa Jewellers IPO was open for subscription from Tue, 1 Sep 2026 to Thu, 3 Sep 2026.
- What is the Deepa Jewellers IPO subscription status?
- Deepa Jewellers IPO was subscribed 42.61x overall: QIB 37.00x, NII 105.96x and retail 18.55x. Day-wise and category-wise figures are on the subscription page.
- What was the Deepa Jewellers IPO GMP before listing?
- The last Deepa Jewellers IPO GMP before listing was +₹25 (+14.12% against the upper price band of ₹177), implying an estimated listing price of ₹202. Across 10 days of tracking, GMP ranged from +₹18 (03 Sep) to +₹55 (31 Aug). GMP is an unofficial grey market indicator and can change quickly.
- What is the Deepa Jewellers IPO allotment date?
- The Deepa Jewellers IPO basis of allotment was finalised on Fri, 4 Sep 2026. You can check your allotment status on the Bigshare Services Pvt Ltd website.
- What is the Deepa Jewellers IPO listing date?
- Deepa Jewellers IPO listed on BSE & NSE on Tue, 8 Sep 2026.
- Is the Deepa Jewellers IPO a fresh issue or an offer for sale?
- It combines a fresh issue of ₹250 Cr (54.38%) with an offer for sale of ₹209.72 Cr (45.62%) by existing shareholders. Only the fresh issue money goes to the company.
- Who are the registrar and lead managers of the Deepa Jewellers IPO?
- The registrar for the Deepa Jewellers IPO is Bigshare Services Pvt Ltd, and the book running lead managers are Emkay Global Financial Services Ltd and Valmiki Leela Capital Private Limited.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.