Athira Sethu
Kochi, 28 August 2026
Deepa Jewellers has released the price band of the upcoming Initial Public Offering (IPO). According to Deepa Jewellers, the IPO will be offered in the price band of ₹168 to ₹177 per equity share.
The IPO will commence from September 1 and end on September 3. Prior to IPO commencement, anchor bidding will be available on August 31.
The size of the entire IPO would stand at ₹460 crore if the issue price would be ₹177.
There will be two tranches in this IPO. In the first tranche, there will be a fresh issue of equity shares having face value of ₹250 crore. It would imply that Deepa Jewellers will issue the shares and raise funds through it. In the other tranche, the company will be offering more than 1.18 crore shares via Offer for Sale (OFS).
Based on the upper price of the IPO, the post-IPO market capitalization of Deepa Jewellers would stand at around ₹1,700 crore.
The company intends to deploy the funds that have been raised through the IPO primarily for meeting the company’s working capital requirements. This includes purchasing additional jewelry inventory and maintaining the stock of jewelry along with increasing the quantity of jewelry that the company holds for business purposes. Some part of the fund will be used to meet other expenses of the company.
IPO shares will be allocated to various kinds of investors. About 50 percent of the share will be allotted to Qualified Institutional Buyers (QIBs). These include mutual funds and other financial institutions. 15 percent of the issue will be allotted to non-institutional investors, while 35 percent will be allotted to retail investors.
Deepa Jewellers intends to list its shares on both BSE and NSE. The IPO shares are scheduled to be listed on September 8th.
Emkay Global Financial Services and Valmiki Leela Capital are the lead managers for the IPO. Bigshare Services will be serving as the registrar for the IPO.
Deepa Jewellers is located in Hyderabad and operates predominantly as a B2B jeweller in terms of designing, processing and supplying jewellery products. The firm primarily supplies hallmarked gold jewellery to jewellery retailers. Some of the major markets served by the firm include Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala.
The company was founded in 2016 by Ashish Agarwal. The firm designs and processes various kinds of jewellery products and hires external manufacturers and artisans, who are called as karigars in local parlance.
According to a CRISIL report, Deepa Jewellers is a key player as far as the processing and supplying of vaddanam (oddiyanam) and machine-cut bangles is concerned. The firm supplies jewellery to big retail chains and jewellery boutiques.
At the end of November 2025, the firm had 14 major product categories and 76 different stock keeping units (SKUs).
