Deepa Jewellers, a B2B designer and supplier of hallmarked gold jewellery in southern India, will open its initial public offering (IPO) for subscription on September 1, 2026, seeking to raise ₹460 crore through a combination of fresh issue and offer for sale. According to reports from The Hindu BusinessLine, the issue will include a ₹250 crore fresh issue and an offer for sale (OFS) of over 1.18 crore equity shares by promoter Ashish Agarwal and his wife, Seema Agarwal. The anchor book will open for a day on August 31, 2026, while the public issue will remain open until September 3, 2026. The Telangana-based gold jewellery company is expected to finalise the share allotment by September 4, 2026, with its shares scheduled to begin trading on the stock exchanges from September 8, 2026 on both NSE and BSE.
As reported by The Hindu BusinessLine, the IPO price band has been set between ₹168 and ₹177 per share for the face value of ₹2, with the subscription date from September 1 to September 3, 2026. The lot size is 84 equity shares and in multiples thereafter. At the upper end of the price band, the minimum lot would cost ₹14,868, excluding applicable charges. The issue allocation follows standard norms with not more than 50% reserved for qualified institutional buyers (QIBs), not less than 35% for retail investors, and not less than 15% for non-institutional investors (NII). The basis of allotment will be finalised on Friday, September 4, 2026, with refunds initiated on Monday, September 7, 2026 and shares credited to demat accounts on the same day. The post-issue implied market capitalisation is estimated at around ₹1,700 crore at the higher end of the price band.
According to reports from Moneycontrol, the company has reported strong financial growth in recent years. Profit for the fiscal year ended March 2026 surged 158.2 percent year-on-year to ₹104.8 crore, compared with ₹40.58 crore in FY25. Revenue grew 37.9 percent to ₹1,926.7 crore in FY26 from ₹1,397 crore a year earlier. With operations across Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala, Deepa Jewellers is an organised B2B jewellery company that designs and manufactures jewellery through outsourcing before supplying it to retail chains and standalone stores.
As reported by The Hindu BusinessLine, of the net proceeds from the fresh issue, the company plans to use ₹215 crore for long-term working capital requirements, primarily to procure, maintain and scale up inventory. The remaining proceeds will be used for general corporate purposes, providing financial flexibility to pursue strategic initiatives and meet business requirements. The company's debt-to-equity ratio stands at 0.47 with a strong Return on Net Worth (RoNW) of 56.45%. Earnings Per Share (EPS) is ₹12.78 (Basic) with a Net Asset Value (NAV) of ₹29.03. As of July 31, 2026, Deepa Jewellers' customer network spanned 13 states and one Union Territory and comprised 373 customers, including 47 jewellery retail chains and 326 standalone stores. The company offers 16 product categories across 110 SKUs and uses its mobile application to strengthen customer engagement and market reach.
According to the latest reports, Deepa Jewellers is seeking a market capitalisation of ₹1,700 crore at the upper end of the price band. The company is an organised business-to-business (B2B) entity that designs and gets gold jewellery processed through an outsourced manufacturing model supported by a network of 41 karigars. It supplies products to retail chains and standalone stores across its operational states while also undertaking job work and trading in silver ornaments, 18K and 20K gold jewellery, precious stones and gold bullion. Emkay Global Financial Services and Valmiki Leela Capital are acting as the book-running lead managers, while Bigshare Services is the registrar to the issue. Incorporated in 2016, the company operates primarily in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala, designing, processing and selling a wide range of jewellery through its outsourced manufacturing model. As per the CRISIL Report, it is one of the key processors and suppliers of vaddanam (or oddiyanam) and machine-cut bangles, distributing them to jewellery retail chains and standalone stores, with a product portfolio of 14 products and 76 SKUs as of November 2025.
