Inside the Deepa Jewellers IPO: Issue Details, Financials and Listing Day
Deepa Jewellers IPO opens on September 1 with a ₹459.72 crore issue. Check today’s GMP, price band, allotment date, lot size and expected listing date.
Deepa Jewellers IPO: The ₹459.72 crore issue was open for subscription from 1 to 3 September 2026 at a price band of ₹168 to ₹177 per share. Allotment was finalised on 4 September, and the shares listed on the NSE and BSE on 8 September 2026 at ₹221, a 24.86% premium to the issue price of ₹177.
Deepa Jewellers IPO Details: Deepa Jewellers is a B2B designer, processor and supplier of hallmarked gold jewellery, with a strong presence across southern India. The company supplies jewellery to retail chains and standalone jewellery stores and also undertakes job work and trading of jewellery-related products.
The company is coming up with a ₹459.72 Cr IPO, comprising a fresh issue of ₹250 Cr and an offer for sale (OFS) of ₹209.72 Cr. Here are the key details of the Deepa Jewellers IPO.
Deepa Jewellers IPO Details
Here are the key dates and issue details.
-
Deepa Jewellers IPO is worth ₹459.72 Cr, comprising a fresh issue of ₹250 Cr and an offer for sale of ₹209.72 Cr.
-
Deepa Jewellers IPO opened for subscription on 1 Sep 2026 and closed on 3 Sep 2026. The price band was set between ₹168 to ₹177 per share.
-
Deepa Jewellers IPO’s allotment took place on 4 Sep 2026 and the shares were listed on the BSE and NSE on 8 Sep 2026.
-
The promoter and promoter group held around 100% of the company before the IPO. Their holding fell to around 72.98% after the IPO.
-
The company planned to use ₹215 Cr from the fresh issue proceeds for long-term working capital requirements, mainly for procurement, maintenance and scaling up of inventory. The remaining proceeds were to be used for general corporate purposes.
-
Bigshare Services Pvt. Ltd. was the registrar for the Deepa Jewellers IPO.
|
Parameter |
Detail |
|---|---|
|
IPO Open Date |
1 Sep 2026 |
|
IPO Close Date |
3 Sep 2026 |
|
Allotment Date |
4 Sep 2026 |
|
Listing Date |
8 Sep 2026 (BSE & NSE) |
|
Price Band |
₹168 to ₹177 per share |
|
Lot Size |
84 shares |
|
Minimum Investment |
₹14,868 |
|
Fresh Issue |
₹250 Cr |
|
Offer for Sale (OFS) |
₹209.72 Cr |
|
Total Issue Size |
₹459.72 Cr |
Deepa Jewellers IPO Listing Performance
Deepa Jewellers finalised its issue price at ₹177 per share, the top of the ₹168 to ₹177 band. The shares debuted on the NSE at ₹221 on 8 September 2026, a 24.86% premium, and opened at ₹221.05 on the BSE. The stock touched ₹222 during the session before closing at ₹194.70 on the NSE, so much of the opening gain was given up by the close. The grey market premium ahead of listing had pointed to a gain of about 16%, below the actual opening premium.
About Deepa Jewellers IPO
Incorporated in 2016, Deepa Jewellers is an organised B2B designer, processor and supplier of 22-karat hallmarked gold jewellery. The company operates mainly across Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala.
Deepa Jewellers designs jewellery in-house and gets manufacturing largely done through third-party karigars. Its product portfolio includes vaddanam, CNC machine-cut bangles, gents kada, vanky, gundlamala haaram, necklaces, earrings, rings and other traditional and contemporary jewellery.
As of July 31, 2026, the company had 373 customers spread across 13 states and one Union Territory. This included 47 jewellery retail chains and 326 standalone stores. The company had 16 product categories and 110 SKUs. Its customer base includes jewellery retailers such as Joyalukkas India, Kalyan Jewellers India and Lalithaa Jewellery Mart.
Apart from its core jewellery processing business, Deepa Jewellers also undertakes job work and trades in silver ornaments, 18-karat and 20-karat gold jewellery, precious stones and gold bullion.
Strengths (from DRHP)
- Established B2B (wholesale, not retail) hallmarked-gold-jewellery supplier across 13 states, serving 373 customers
- Design/product specialisation — vaddanam and CNC-cut bangles across 110 SKUs, 16 product categories
- Asset-light model — 100% of manufacturing outsourced to third-party karigars
- Strong recent revenue and profit growth
Risk Factors (from DRHP)
- Severe geographic concentration — Southern India was 94.37% of FY26 revenue
- Complete dependence on third-party karigars for manufacturing — no in-house production
- Supplier concentration — top 10 suppliers are 91.81% of purchases; customer concentration — top 10 customers are 64.67% of revenue
- A very sharp recent PAT jump, whose durability the RHP itself flags as needing scrutiny alongside a large OFS component
Deepa Jewellers IPO Reservation
For the Deepa Jewellers IPO, 35% of the issue has been reserved for retail investors, while not more than 50% is available for qualified institutional buyers and not less than 15% is reserved for non-institutional investors.
|
Investor Category |
Shares Offered |
|---|---|
|
QIB Investors |
Not more than 50% |
|
Retail Investors |
Not less than 35% |
|
NII (HNI) Investors |
Not less than 15% |
Deepa Jewellers IPO Lot Size
Retail investors could apply for a minimum of 1 lot, which includes 84 shares costing ₹14,868 at the upper price band of ₹177. The maximum investment allowed for retail investors is 13 lots, which totals 1,092 shares and costs ₹1,93,284.
|
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 |
Deepa Jewellers IPO Financial Performance
Deepa Jewellers has reported strong growth in revenue, EBITDA and profit over the past three financial years.
|
Period Ended |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|---|---|---|---|
|
Revenue from Ops (₹ Cr) |
1,926.68 |
1,397.10 |
1,024.57 |
|
Total Income (₹ Cr) |
1,927.73 |
1,400.10 |
1,025.73 |
|
EBITDA (₹ Cr) |
146.34 |
56.01 |
35.77 |
|
EBITDA Margin (%) |
7.60 |
4.01 |
3.49 |
|
PAT (₹ Cr) |
104.79 |
40.58 |
24.37 |
|
PAT Margin (%) |
5.44 |
2.90 |
2.37 |
|
ROE (%) |
56.45 |
35.95 |
30.30 |
|
ROCE (%) |
52.08 |
30.60 |
22.76 |
|
Debt-Equity Ratio (in times) |
0.47 |
0.61 |
0.84 |
Source: Deepa Jewellers IPO RHP
Deepa Jewellers IPO Peer Comparison from RHP
Deepa Jewellers IPO has a decent EPS among its peers. Higher EPS is always considered better. Below is a brief comparison of Deepa Jewellers IPO.
|
Company |
EPS Diluted |
P/E (X) |
|---|---|---|
|
Khazanchi Jewellers Ltd |
36.1 |
22.22 |
|
Rbz Jewellers Ltd |
13.7 |
10.08 |
|
Shringar House Of Mangalsutra Ltd |
13.55 |
17.02 |
|
Shanti Gold International Ltd |
21.22 |
12.72 |
|
Sky Gold And Diamonds Ltd |
13.96 |
57.56 |
|
Deepa Jewellers Ltd. |
12.78 |
- |
Source: DRHP / RHP
Conclusion
Deepa Jewellers IPO was a ₹459.72 crore issue comprising a ₹250 crore fresh issue and a ₹209.72 crore offer for sale, priced at ₹168 to ₹177 per share. The B2B hallmarked gold jewellery supplier reported strong revenue and profit growth in FY26 and planned to use ₹215 crore of the fresh issue for working capital, mainly inventory. The shares listed at a 24.86% premium on 8 September 2026 but closed the first day well below the opening price. Investors holding the stock should watch gold price movements and working capital needs, which drive both the company's margins and its funding requirement.
All topics
Click the link, confirm the box next to sahi.com is checked — ignore any other results.