Deepa Jewellers IPO: Price Band Set at INR 168-177

Deepa Jewellers set its Initial Public Offering (IPO) price band at INR 168 to INR 177 per equity share. The public issue is scheduled to open on September 1, 2026, and will close on September 3, 2026.

IPO Structure and Allocation

• Fresh issue: up to INR 2.5 billion
• Offer-for-sale: up to 11,848,340 equity shares by promoters Ashish Agarwal and Seema Agarwal
• Minimum bid: 84 equity shares, with subsequent bids in multiples of 84

Funds from the fresh issue are designated for long-term working capital needs, including inventory procurement and scaling. A portion will also cover general corporate purposes and offer-related expenses.

Company Overview

Established in 2016, Deepa Jewellers operates as a B2B designer, processor, and supplier of hallmarked gold jewellery. Its primary operations are in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu, and Kerala.

• Product portfolio: 22-karat gold jewellery (vaddanam, CNC machine-cut bangles, kadas, vanky, necklaces, earrings, rings, bracelets)
• Additional services: Job work, trading silver jewellery, 18- and 20-karat gold jewellery, precious stones, gold bullion
• Customer base (as of July 31, 2026): 373 clients across 13 states and one Union Territory
• Key customers: Joyalukkas India, Kalyan Jewellers India, Lalithaa Jewellery Mart

Financial Performance

The company reported significant financial growth over two fiscal years. Its equity shares are proposed for listing on both the BSE and NSE stock exchanges.

• Revenue from operations FY26: INR 19,266.76 million
• Revenue from operations FY24: INR 10,245.68 million
• Profit after tax FY26: INR 1,047.88 million
• Profit after tax FY24: INR 243.47 million