Deepa Jewellers IPO opens on 1-3 Sept and is a Mainboard issue among the upcoming Indian IPOs. The company aims to raise ₹460 Cr via this future IPO in India with a price range of ₹168 to ₹177 per share.
Deepa Jewellers IPO Analysis
Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.
Minimum retail investment
₹14,868
84 shares at the upper band of ₹177
Fresh issue share
54.3%
₹250 Cr of the ₹460 Cr issue
Revenue growth
+37.7%
31 Mar 2025 → 31 Mar 2026
Profit growth
+158.2%
PAT ₹40.58 Cr → ₹104.79 Cr
Net profit margin
5.4%
was 2.9% in 31 Mar 2025
Debt to equity
0.47
lower is safer
Return on equity
56.45%
ROE
Peer listing record
8 of 9 listed above issue price
median listing move +12.1%
Total subscription
3.69x
across all categories
GMP-implied listing gain
+24.9%
₹44 premium on a ₹177 issue price
Promoter holding
100% → 72.98%
diluted by 27 percentage points
A retail application for Deepa Jewellers needs one lot of 84 shares, which works out to ₹14,868 at the upper band of ₹177. That is close to the ₹15,000 ceiling SEBI expects for a single retail lot, so an investor applying at cut-off is committing nearly the full retail limit per application.
The issue splits into ₹250 Cr of fresh capital (54.3%) and ₹210 Cr as an offer for sale. The company keeps the fresh portion for the objects of the issue, while the rest is existing shareholders monetising their stake.
Revenue moved from ₹1400.1 Cr in 31 Mar 2025 to ₹1927.73 Cr in 31 Mar 2026 (+37.7%), while profit after tax went from ₹40.58 Cr to ₹104.79 Cr (+158.2%). Profit grew faster than revenue, which points to operating leverage or a better cost mix rather than growth bought purely through volume.
Recently listed companies in the same space trade at a median price-to-earnings ratio of about 12.3. Comparing that with the multiple implied by this issue's ₹168–₹177 band is a more useful test of pricing than looking at the grey market premium alone.
Demand is skewed towards smaller investors: the retail portion is 4.85x subscribed while the qualified institutional portion sits at 0.45x. Institutional participation often arrives on the final day, but a weak QIB book relative to retail is worth noting, since institutions do the deepest diligence on pricing.
A grey market premium of ₹44 on the upper band of ₹177 implies a listing gain of roughly 24.9%. The grey market is unofficial and unregulated, the premium can change daily, and it has no bearing on allotment — treat it as a sentiment reading, not a forecast.
What looks good
- Profit is growing faster than revenue, suggesting improving operating efficiency.
- A debt-to-equity ratio of 0.47 points to a conservatively funded balance sheet.
- Return on equity of 56.45% is strong for the sector.
What to watch
- Institutional demand (0.45x) is lagging retail demand (4.85x).
This analysis is generated from the figures shown on this page and is for information only. It is not investment advice — read the RHP before you apply.
About Deepa Jewellers
Incorporated in 2016, 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.
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.
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.
As of July 31, 2026, the company's customer network spans across 13 states and 1 union territory in India with a total customer base of 373 customers, comprising of 47 jewellery retail chains and 326 standalone stores.
The company use third-party mobile application namely “Deepa Jewellers Limited” to enhance their brand visibility, disseminate information and display product collections, which was commissioned by them on June 25, 2021. This application enables access to high-resolution images of selected jewellery designs to remote customers.
As on July 31, 2026, they have a product portfolio of 16 products and 110 SKUs across their product categories.
Strong presence in southern market
Diverse product portfolio with varied weight ranges, designs and specialisation in vadannam and CNC machine cutbangles
Established procurement network and long -standing relationship with karigars
Well experienced Promoters and a professional management team with sectoral experience
Q1. What is Deepa Jewellers IPO?
Deepa Jewellers IPO is a Mainboard issue among the new IPOs coming in India. The company will raise ₹460 Cr via this upcoming Indian IPO, priced at ₹168 to ₹177 per equity share.
Q2. When will Deepa Jewellers IPO open for subscription?
This future IPO opens on 1-3 Sept. Stay updated with all IPOs to come this week and upcoming launches.
Q3. What is Deepa Jewellers IPO Investors' Portion?
QIB: 50%, HNI: 15%, Retail: 35%
Q4. What is Deepa Jewellers IPO Issue Size?
Total issue size is ₹460 Cr.
Q5. What is Deepa Jewellers IPO Price Band?
The price band is ₹168 to ₹177 per equity share.
Q6. What is Deepa Jewellers IPO Lot Size?
Minimum bid is 84 shares.
Q7. What is the Deepa Jewellers IPO Allotment Date?
The allotment will be finalized on 4 Sep 2026.
Q8. What is the Deepa Jewellers IPO Listing Date?
The IPO will list on 8 Sep 2026.
