Deepa Jewellers IPO Review 2026: Key Investor Insights
- September 1, 2026
- Posted by: Kunal Singla
- Category: IPO
Deepa Jewellers IPO price band Rs 168 to Rs 177. Opens 1 Sep, closes 3 Sep 2026. Issue size Rs 459.72 Cr. Lists 8 Sep on BSE, NSE.
Quick Answer
The Deepa Jewellers IPO is a Rs 459.72 crore bookbuilding issue priced between Rs 168 and Rs 177 per share, open for bidding from 1 to 3 September 2026. The Hyderabad based gold and diamond jewellery retailer is raising Rs 250 crore through a fresh issue and Rs 209.72 crore through an offer for sale by its promoters. Shares are proposed to list on BSE and NSE around 8 September 2026, with FY26 revenue and profit both showing strong year on year growth.
The Deepa Jewellers IPO is open for bidding from 1 September 2026 to 3 September 2026. It is a bookbuilding issue of Rs 459.72 crore, comprising a fresh issue of shares worth Rs 250 crore and an offer for sale of shares worth Rs 209.72 crore by the company promoters. The issue will be listed on both BSE and NSE, with a tentative listing date of 8 September 2026.
Incorporated in 2016 and headquartered in Hyderabad, Deepa Jewellers is engaged in the retail and wholesale trading of gold and diamond jewellery across a network of retail chains and standalone stores. The company has posted sharp growth in both revenue and profit over the last two fiscal years, which forms an important part of the investment case for this issue.
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Deepa Jewellers IPO Details
The Deepa Jewellers IPO date is fixed between 1 September 2026 and 3 September 2026. The face value of Deepa Jewellers shares is Rs 2 per share, and the issue price band is set between Rs 168 and Rs 177 per share. Bigshare Services Pvt. Ltd. is the registrar of the issue and is responsible for managing the allotment process and initiating refunds. Check the latest Deepa Jewellers IPO details in the table below.
| Particular | Details |
|---|---|
| Allotment Date | 4 September 2026 |
| Open Date | 1 September 2026 |
| Close Date | 3 September 2026 |
| Refund Initiation | 7 September 2026 |
| Issue Size | 2,59,72,633 shares (agg. up to Rs 460 Cr) |
| Fresh Issue | 1,41,24,293 shares (agg. up to Rs 250 Cr) |
| Offer for Sale | 1,18,48,340 shares (agg. up to Rs 210 Cr) |
| Face Value | Rs 2 per share |
| Lot Size | 84 Shares |
| Issue Price | Rs 168 to Rs 177 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Listing Date | 8 September 2026 |
Deepa Jewellers IPO Share Reservation
Deepa Jewellers IPO is a bookbuilding issue of 2,59,72,633 shares. As a mainboard issue, SEBI norms require the net offer to be split across QIB, NII and retail investor categories. The table below shows the indicative share reservation.
| Investor Category | Shares Offered | Shares Percentage |
|---|---|---|
| QIB | 1,29,86,317 | 50.00% |
| NII (HNI) | 38,95,895 | 15.00% |
| Retail | 90,90,421 | 35.00% |
| Total | 2,59,72,633 | 100.00% |
Financial Health
Deepa Jewellers reported total income of Rs 1,927.73 crore for the year ended 31 March 2026, up 38 percent from Rs 1,400.10 crore in the previous fiscal. Profit after tax jumped 158 percent to Rs 104.79 crore in FY26 from Rs 40.58 crore in FY25. EBITDA more than doubled to Rs 146.34 crore from Rs 56.01 crore over the same period.
The consistent revenue growth and sharp jump in profitability point to a stronger cost structure, though investors should note that both figures benefited from a strong year for gold jewellery demand and rising gold prices during FY26.
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Technical Analysis
| Key Indicators | Value |
|---|---|
| PE Ratio (Price to Earnings) | 35.76 |
| EPS (Earnings Per Share) | Rs 4.95 |
| RoNW | 56.45% |
| ROCE | 52.08% |
| ROE | 56.45% |
| EBITDA Margin | 7.60% |
| Price to Book Value | 6.10 |
| Market Capitalisation | Rs 1,701.40 Cr |
The pre-issue PE ratio of Deepa Jewellers works out to around 35.76 times based on an EPS of Rs 4.95, which is on the higher side compared with several listed jewellery peers. Return ratios are strong, with ROE and ROCE both above 50 percent for FY26.
Note: The data mentioned above is taken from the RHP/DRHP and reflects pre-issue financials. The valuation metrics of Deepa Jewellers are subject to change once the issue is fully subscribed and shares are allotted. Refer to the table below for pre-issue and post-issue metrics.
| Indicators | Pre-IPO | Post-IPO |
|---|---|---|
| EPS (Rs) | 4.95 | To be updated post listing |
| Market Cap at Offer Price | Rs 1,204.40 Cr (approx.) | Rs 1,701.40 Cr |
Deepa Jewellers IPO Subscription Status
The Deepa Jewellers IPO opened for bidding on 1 September 2026. As the issue is currently open, the category wise subscription status is yet to be announced. Stay informed on this page to check the live Deepa Jewellers IPO subscription status once bidding data becomes available.
| Investor Categories | Shares Offered | Shares Percentage | Shares Subscribed | Subscription to the Times |
|---|---|---|---|---|
| QIB | 1,29,86,317 | 50.00% | Yet to be announced | Yet to be announced |
| NII (HNI) | 38,95,895 | 15.00% | Yet to be announced | Yet to be announced |
| Retail | 90,90,421 | 35.00% | Yet to be announced | Yet to be announced |
| Total | 2,59,72,633 | 100.00% | Yet to be announced | Yet to be announced |
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About Deepa Jewellers Limited
Incorporated in 2016, Deepa Jewellers Ltd. is engaged in the retail and wholesale trading of gold and diamond jewellery, offering a wide range of traditional and contemporary designs. The Hyderabad headquartered company sources, designs and sells jewellery products including rings, necklaces, earrings, bangles and customised ornaments.
As of July 2026, the company served a customer base of 373 clients spread across 13 states and one union territory, comprising 47 jewellery retail chains and 326 standalone stores. Deepa Jewellers also runs a mobile application that showcases its product catalogue to customers remotely, and it works with a long standing network of about 40 karigars concentrated in Telangana and Maharashtra.
Competitive Strengths: a strong presence in the southern jewellery market, a diverse product portfolio with a specialisation in vaddanam and CNC machine cut bangles, an established procurement network, and an experienced promoter and management team.
Deepa Jewellers Limited Financials
Deepa Jewellers Ltd. revenue increased by 38 percent and profit after tax rose by 158 percent between the year ended 31 March 2025 and 31 March 2026. See the table below for the company financials on a restated consolidated basis.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 357.18 | 217.67 | 174.64 |
| Total Income | 1,927.73 | 1,400.10 | 1,025.73 |
| Profit After Tax | 104.79 | 40.58 | 24.35 |
| EBITDA | 146.34 | 56.01 | 35.77 |
| Net Worth | 238.07 | 133.21 | 92.55 |
| Reserves and Surplus | 221.67 | 129.11 | 88.45 |
| Total Borrowings | 111.11 | 80.79 | 77.93 |
Amount in Rs Crore
The sharp jump in profit after tax in FY26 was supported by better cost control and higher realisations, with EBITDA margin improving alongside a moderate rise in total borrowings to Rs 111.11 crore.
Deepa Jewellers Limited IPO Promoter Holdings
Deepa Jewellers is promoted by Ashish Agarwal, Seema Agarwal and Dev Agarwal. Ashish Agarwal and Seema Agarwal are also the selling shareholders in the offer for sale component of this IPO, together offloading shares worth Rs 209.72 crore.
| Category | Pre-Issue | Post-Issue |
|---|---|---|
| Promoter and Promoter Group | 100.00% | 72.98% |
| Public | 0.00% | 27.02% |
Aim of the Deepa Jewellers IPO
The primary aim of the Deepa Jewellers IPO is to raise Rs 250 crore through the fresh issue component. The company proposes to utilise the net proceeds towards the following objects.
- Funding long term working capital requirements towards procurement, maintenance and scaling up of inventory (Rs 215.00 Cr)
- General corporate purposes
Should I Invest in the Deepa Jewellers IPO?
Explore the pros and cons of Deepa Jewellers below to understand the IPO’s potential to deliver returns before deciding whether to apply or avoid the issue.
Pros of Investing in Deepa Jewellers
- Sharp revenue growth of 38 percent and profit growth of 158 percent in FY26
- Established distribution network of 373 customers, including 47 jewellery retail chains and 326 standalone stores across 13 states
- Strong return ratios, with ROE and ROCE both above 50 percent for FY26
Cons of Investing in Deepa Jewellers
- Pre-issue valuation of around 35.76 times earnings is rich compared with several listed jewellery peers
- A large part of the issue is an offer for sale, meaning a significant portion of the proceeds go to promoters rather than the company
- The jewellery retail business is working capital intensive and remains exposed to gold price volatility
How to Apply for the Deepa Jewellers IPO?
- Conduct thorough research on the Deepa Jewellers IPO subscription status, issue size, lot size and other details.
- Open a demat account with Univest to access real time insights on subscription status, or use your existing demat account by navigating to the IPO section.
- Place a bid for a minimum of 1 lot of 84 shares, worth Rs 14,868 at the upper price band, or in multiples thereof.
- You will receive a mandate request after placing the bid. Approve the request on your UPI app to complete the application.
Note: You can apply for the Deepa Jewellers IPO across multiple demat accounts to increase your chances of allotment.
How to Check Deepa Jewellers Allotment Status?
You can check the Deepa Jewellers IPO allotment status in different ways, including the NSE website and the registrar portal. Follow the steps below.
Check On NSE
- Visit the official NSE website.
- Navigate to the IPO allotment status section.
- Select Equity as the issue type and choose Deepa Jewellers IPO from the list.
- Choose whether to proceed with your PAN number or application number.
- Submit your details to view the allotment status online.
Check On the Registrar Portal
- Visit the official registrar portal of Bigshare Services Pvt. Ltd.
- Click on the IPO allotment status option.
- Fill in the required details such as PAN, application number or DPID/Client ID.
- Click submit to check your Deepa Jewellers IPO allotment status.
Grey market premium (GMP) is an unofficial, unregulated indicator for the Deepa Jewellers IPO that is not endorsed by SEBI, NSE, or BSE. Investors looking for indicative GMP data can go through other relevant sources, though such figures should never be the sole basis for an investment decision.
Let’s Wrap
The Deepa Jewellers IPO is a Rs 459.72 crore bookbuilding issue priced between Rs 168 and Rs 177 per share, with shares proposed to list on BSE and NSE around 8 September 2026. The company has shown strong revenue and profit growth in FY26, though the offer for sale component and a relatively rich pre-issue valuation are factors worth weighing. Investors should study the RHP, subscription trends and their own risk appetite before applying, and consulting a financial advisor is recommended.
You can open a demat account with Univest to track the Deepa Jewellers IPO and apply online once the issue opens for bidding.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Deepa Jewellers
What is the Deepa Jewellers IPO?
Ans. The Deepa Jewellers IPO is a bookbuilding issue of 2,59,72,633 equity shares of face value Rs 2 aggregating up to Rs 460 crore. It comprises a fresh issue worth Rs 250 crore and an offer for sale worth Rs 209.72 crore, priced between Rs 168 and Rs 177 per share.
What is the price band for this IPO?
Ans. The price band for this issue is set at Rs 168 to Rs 177 per equity share.
When does the issue open and close?
Ans. The issue opens on 1 September 2026 and closes on 3 September 2026.
What is the lot size for this issue?
Ans. The lot size is 84 shares, requiring a minimum investment of Rs 14,868 at the upper price band.
Who is the registrar for this offer?
Ans. Bigshare Services Pvt. Ltd. is the registrar and is responsible for the allotment process and refunds.
When is the Deepa Jewellers IPO allotment and listing date?
Ans. The Deepa Jewellers IPO allotment is expected to be finalised on 4 September 2026, and the shares are tentatively scheduled to list on BSE and NSE on 8 September 2026.
Is the Deepa Jewellers IPO a good investment?
Ans. Deepa Jewellers has posted strong FY26 revenue and profit growth with healthy return ratios, but the issue is priced at a relatively high pre-issue PE and includes a sizeable offer for sale. Investors should review the RHP and assess their own risk profile before applying.
How can I apply for this issue?
Ans. You can apply online using UPI or ASBA through your broker or bank, including via a Univest demat account, by bidding for a minimum of 1 lot of 84 shares.
