Grover Jewells IPO
GMP, Subscription, Price, Dates & Financial Details
Diamond & Jewellery
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,…
Open Date
Wed, 04 Feb 2026
Close Date
Fri, 06 Feb 2026
Price Band
₹ 83 – 88
Lot Size
1600
Issue Size
₹ 34.00 Cr
Minimum Investment
₹ 281,600 (3200 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Grover Jewells IPO has successfully completed its IPO process and is now listed on NSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹34.00 Crore.
The Grover Jewells IPO remained open for subscription from February 04, 2026, to February 06, 2026. The basis of allotment was finalized on February 09, 2026, and the company's shares were listed on NSE SME Platform on February 11, 2026.
The company had fixed the price band at ₹83 to ₹88 per share, with a lot size of 1600 shares. Retail investors were required to make a minimum investment of ₹281,600 (based on the upper price band) to apply for one lot.
Maashitla Securities Pvt. Limited served as the registrar to the issue. Finshore Management Services Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Grover Jewells Limited is now a publicly listed company on NSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Grover Jewells IPO Timeline (Tentative)
- IPO Open Date
- Wed, 04 Feb 26
- IPO Close Date
- Fri, 06 Feb 26
- Basis of Allotment
- Mon, 09 Feb 26
- Initiation of Refunds
- Tue, 10 Feb 26
- Credit of Shares to Demat
- Tue, 10 Feb 26
- Listing Date
- Wed, 11 Feb 26 — NSE & BSE
Open Date
04 February 2026
Close Date
06 February 2026
Basis Of Allotment
09 February 2026
Listing Date
11 February 2026
IPO Subscription
Check Live Subscription →The Grover Jewells IPO has received bids for 4,92,12,800 shares against 25,58,400 shares offered, resulting in an overall subscription of 19.24x. the NII category is subscribed 37.92x, Retail Investors 15.74x, and QIBs 11.32x. Within the NII category, BNII is subscribed 45.16x, while SNII is subscribed 23.56x.
QIB
11.32x
NII
37.92x
BNII
45.16x
SNII
23.56x
RII
15.74x
Total
19.24x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 12,80,000 shares, representing 50.03% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 7,29,600 shares (28.52%), while Non-Institutional Investors (NIIs) receive 5,48,800 shares (21.45%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 729,600 | 28.52% |
| Non-Institutional | 548,800 | 21.45% |
| BNII | 364,800 | 14.26% |
| SNII | 184,000 | 7.19% |
| Retail Investors | 1,280,000 | 50.03% |
| Total | 2,558,400 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Grover Jewells Limited KPI Information
| Particular | Oct 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| 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 |
| Pat Margin % | 2.21 | 1.65 | 1.08 | 1.06 |
Peers Comparison
| 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 |
About Grover Jewells Limited
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.
Grover Jewells IPO Promoters
- Mr. Deepak Kumar Grover
- Mr. Lavkesh Kumar Grover
- Mrs. Bhawna Grover
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
73.48%
Grover Jewells IPO Objective
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Working Capital Requirements
- General corporate purposes
Grover Jewells Limited Address / Contact Details
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
Grover Jewells IPO Lot Size
The Grover Jewells IPO has a lot size of 1,600 shares. Retail investors require a minimum investment of ₹2,81,600 by applying for 2 lot (3,200 shares). The maximum application allowed for the retail category is 2 lots (3,200 shares), requiring an investment of ₹2,81,600.
| 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 |
Issue Reservation
- QIB — 28.52%
- NII — 21.45%
- RII — 50.03%
Book Running Lead Managers
- Finshore Management Services Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Grover Jewells IPO?
Grover Jewells IPO is a Book-building IPO with a total issue size of ₹34 crore. The Grover Jewells IPO price band is ₹83 to 88 per share. The Grover Jewells IPO subscription opens on Wed, Feb 4, 2026, and closes on Fri, Feb 6, 2026. The Grover Jewells IPO will be listed on the NSE. Maashitla Securities Pvt. Limited is the registrar for the Grover Jewells IPO.
When will the Grover Jewells IPO open for subscription?
The Grover Jewells IPO opens on Wed, Feb 4, 2026 and closes on Fri, Feb 6, 2026
What is Grover Jewells IPO Price Band?
Grover Jewells IPO Price Band is ₹83 to 88 per share.
What is Grover Jewells IPO Lot Size?
Grover Jewells IPO lot size is 1600 shares, Retail investors need a minimum investment of ₹281600 based on the upper price band
What is the minimum investment for Grover Jewells IPO?
The minimum investment for Grover Jewells IPO is ₹281600, based on one lot of 1600 shares at the upper price band of ₹88 per share.
How to apply for Grover Jewells IPO?
Investors can apply for the Grover Jewells IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Feb 6, 2026. The application amount remains blocked until the Grover Jewells IPO allotment is finalized.
What is Grover Jewells IPO Issue Size?
Grover Jewells IPO issue size is ₹34 crores.
What is the Grover Jewells IPO Allotment Date?
Grover Jewells IPO allotment date is Mon, Feb 9, 2026.
Who is the Grover Jewells IPO Registrar?
The registrar for Grover Jewells IPO is Maashitla Securities Pvt. Limited. Investors can go to Maashitla Securities Pvt. Limited website to check Grover Jewells IPO allotment status, refund processing, and other IPO-related information.
What is the Grover Jewells IPO GMP?
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 0.00% over the issue price.
Who is the Grover Jewells IPO Lead Manager?
The book-running lead managers (BRLMs) for the Grover Jewells IPO are Finshore Management Services Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Grover Jewells IPO Red Herring Prospectus (RHP).