Deepa Jewellers has received final approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). According to reports from CNBC TV18, the proposed IPO of the Hyderabad-based company is structured as a fresh issue of up to ₹250 crore and an offer-for-sale of 1.18 crore shares by the promoters - Ashish Agarwal and Seema Agarwal. The company had filed its draft papers with SEBI in December 2025 and received final observations from the capital markets regulator to launch its IPO. Both companies obtained SEBI's observations on May 18, 2026, with the approval equivalent to securing approval to float a public offering.
Incorporated in 2016, the company operates as an organised B2B designer, processor and supplier of hallmarked gold jewellery, primarily having operations in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. As reported by CNBC TV18, the company primarily focuses on processing 22-karat gold jewellery and operates through an outsourced manufacturing model supported by around 40 karigars. The company's business model is focused largely on wholesale distribution and processing rather than direct retail operations.
According to the company release, Deepa Jewellers' product portfolio includes 14 products and 76 SKUs. As of November 30, 2025, its customer base spanned 315 customers across 13 states and 1 union territory, including 43 jewellery retail chains and 272 standalone stores. The company's products primarily include traditional South Indian jewellery categories such as vaddanam, CNC machine cut bangles, gents kada, vanki, kangan, earrings, mangtika, maatil, braid ornaments and rings. Additionally, the company undertakes job work assignments and trades in silver ornaments, 18 and 20-karat gold ornaments, precious stones and gold bullion.
As per CNBC TV18, the Hyderabad-based company will utilise the proceeds from its fresh issuance worth ₹215 crore for funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory, and general corporate purposes. The company's shares will be listed on both BSE and NSE exchanges. This funding will support the company's expansion plans and operational requirements in the organized jewellery processing sector.
According to CNBC TV18, Deepa Jewellers' IPO approval comes as primary market activity continues across jewellery and pharmaceutical manufacturing sectors. The approval demonstrates SEBI's ongoing support for companies across diverse sectors, with both jewellery and pharmaceutical manufacturing sectors witnessing increased IPO activity. This approval reflects the regulator's confidence in the company's business model and growth prospects in the organized jewellery processing sector.
