Deepa Jewellers IPO: Complete Details, Dates, Price, Financials & Review
Deepa Jewellers opened its mainboard IPO on 1 September 2026. Unlike a consumer-facing jewellery chain, it primarily designs, gets jewellery manufactured and supplies products such as vaddanam and machine-cut bangles to retail chains and standalone stores. That B2B model changes the risk picture: customer concentration, gold procurement and inventory funding matter greatly.
In short
- Price band: ₹168 to ₹177 per share, minimum one lot of 84 shares.
- Open 1 September 2026 to 3 September 2026.
- Issue size about ₹459.72 crore.
- An IPO application is not a guaranteed allotment, and listing gains are not guaranteed either. Read the offer document before applying.
Last Updated: 1 September 2026, 21:00 IST
Deepa Jewellers opened its mainboard IPO on 1 September 2026. Unlike a consumer-facing jewellery chain, it primarily designs, gets jewellery manufactured and supplies products such as vaddanam and machine-cut bangles to retail chains and standalone stores. That B2B model changes the risk picture: customer concentration, gold procurement and inventory funding matter greatly.
IPO Overview
- Issue size: ₹459.72 crore at upper band
- Fresh issue / OFS: ₹250 crore / about ₹209.72 crore
- Shares offered: 25,972,633 (subject to final rounding in exchange data)
- Face value: ₹2
- Price band: ₹168–₹177
- Lot / minimum: 84 shares / ₹14,868 at ₹177
- Open / close: 1–3 September 2026
- Allotment: 4 September 2026
- Refund and demat credit: 7 September 2026
- Listing: 8 September 2026
- Exchange: BSE and NSE
- Registrar: Bigshare Services Private Limited
Lot Size and Reservation
One retail lot is 84 shares. At the upper band, 13 lots cost ₹193,284; the minimum sNII application is 14 lots or ₹208,152. The standard allocation is 50% QIB, 15% NII and 35% retail, subject to the offer’s anchor and net-offer mechanics.
Objectives of the IPO
The company proposes to use ₹215 crore toward long-term working capital for procuring, maintaining and scaling inventory. The remainder of fresh proceeds, after expenses and applicable limits, is for general corporate purposes. OFS proceeds do not go to the company.
Financial Performance
For FY2026, publicly reported RHP figures show revenue of about ₹1,927.73 crore and PAT of ₹104.79 crore. That implies a PAT margin of roughly 5.4%.
Strengths and Risks
Strengths include relationships with organised jewellery retailers, specialised product design, a scalable B2B model and strong FY26 earnings. Risks include dependence on a limited pool of large buyers or suppliers, gold-price volatility, inventory and working-capital intensity, thin margins, quality control, and promoter selling through the OFS.
Valuation and Balanced View
Reported EPS of roughly ₹4.95 gives a simple pre-issue P/E near 35.8 times at ₹177; post-issue dilution and the RHP’s stated EPS methodology must be checked before relying on it. Jewellery peers differ sharply between retail and wholesale models, so a headline peer average is weak evidence. The IPO may interest investors comfortable with B2B scale and working-capital intensity; others should examine customer concentration, cash flow and the large OFS carefully.
FAQs
What are the IPO dates?
1 to 3 September 2026.
What is the price band?
₹168–₹177 per share.
What is the lot size and minimum investment?
84 shares and ₹14,868 at the upper band.
What is the issue size?
About ₹459.72 crore at ₹177.
Who is the registrar?
Bigshare Services Private Limited.
When is listing scheduled?
8 September 2026.
Disclaimer: This article is for educational and informational purposes only and should not be considered investment advice. IPO investments are subject to market risks. Investors should read the official offer documents and consult a qualified financial advisor before making investment decisions.
Frequently asked questions
What is the price band for the Deepa Jewellers Limited IPO?
The price band is ₹168 to ₹177 per share. The minimum application is one lot of 84 shares, which works out to about ₹14,868 at the upper end of the band. Retail applications are made at the cut-off price in most book-built issues.
When does the Deepa Jewellers Limited IPO open and close?
Bidding opens on 1 September 2026 and closes on 3 September 2026.. Dates for an issue that has not opened can move, so check the exchange notice before applying.
How big is the Deepa Jewellers Limited IPO?
The total issue size is about ₹459.72 crore, made up of a fresh issue of about ₹250 crore. Only the fresh-issue portion reaches the company; money raised through an offer for sale goes to the shareholders who are selling.
Is Deepa Jewellers Limited a mainboard or an SME IPO?
It is a mainboard issue. Mainboard issues are open to the full range of investor categories and list on the main exchange platform.
What is the grey market premium for the Deepa Jewellers Limited IPO?
Our last recorded reading was ₹18 per share, about 10.17% of the upper price band. This is an unofficial grey-market estimate, not an exchange price, and it moves daily. It is not a forecast of what the shares will list at.
Who is the registrar for the Deepa Jewellers Limited IPO?
Bigshare Services Private Limited is the registrar. Allotment status can be checked on the registrar's own website once the basis of allotment is finalised, and on the exchange websites.