Grover Jewells IPO Day 1: Subscription at 0.23x, GMP Flat | Live Updates

Posted by : Neeraj Pandey | Wed Feb 04 2026

The Grover Jewells IPO GMP is ₹0 as of 4th February 2026. It is a Book Building issue IPO of ₹33.83 crores. This is an entirely fresh issue of 0.38 crore shares. The issue will be listed on NSE and SME on its tentative listing date, 11th February 2026. The face value of Grover Jewells IPO shares is ₹10 per share, and the IPO price band is ₹83 to ₹88 per share. Retail investors can bid for a minimum of 2 lots of 3,200 shares worth ₹2,81,600. Scroll down to check the Grover Jewells IPO GMP and subscription details.

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Grover Jewells IPO GMP Grey Market Premium

As mentioned earlier, the Grover Jewells IPO GMP currently stands at ₹0.00 per share. Thus, the estimated listing price would be at ₹88.00. This indicates that the estimated listing gain in this IPO could be 0.00%. Explore the table for Grover Jewells IPO GMP updates.

GMP DATE	IPO Price	GMP Price	Estimated Listing Price	Estimated Gain
4-2-2026	₹88.00	₹0.00	₹88.00	0.00%
3-2-2026	₹88.00	₹0.00	₹88.00	0.00%
2-2-2026	₹88.00	₹0.00	₹88.00	0.00%
1-2-2026	₹88.00	₹0.00	₹88.00	0.00%
31-01-2026	₹88.00	₹0.00	₹88.00	0.00%
30-01-2026	₹88.00	₹0.00	₹88.00	0.00%
29-01-2026	₹88.00	₹0.00	₹88.00	0.00%
28-01-2026	₹88.00	₹0.00	₹88.00	0.00%
27-01-2026	₹88.00	₹0.00	₹88.00	0.00%
26-01-2026	₹88.00	₹0.00	₹88.00	0.00%
25-01-2026	₹88.00	₹0.00	₹88.00	0.00%

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Grover Jewells IPO GMP status at Univest.

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Grover Jewells IPO Subscription Status

As of now, the Grover Jewells IPO has been subscribed to 0.23 times. Of these, 0.18 times are subscribed by retail investors, 0.64 times by non-institutional investors, and 0.00 times by QII (Qualified Institutional Investors).

The healthy subscription status indicates that investors are expecting higher returns at the time of Grover Jewells’ IPO listing on 11th February 2026. Grover Jewells also has a positive outlook behind the fresh issue of 0.38 crore shares, which will raise around Rs 33.83 crores.

Note: GMP details are subject to change based on market conditions and fluctuations. Check the live Grover Jewells IPO Subscription status at Univest.

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Grover Jewells IPO Details

IPO Allotment Date	9th February 2026
IPO Open Date	4th January 2026
IPO Close Date	6th February 2026
Refund Initiation	10th February 2026
Issue Size	38,44,800 shares(agg. up to ₹34 Cr)
Face Value	₹10 per share
Lot Size	1,600 Shares
Issue Price	₹83 to ₹88 per share
Issue Type	Bookbuilding IPO
Listing At	NSE SME
Listing Date	11th February 2026

Also Read: Grover Jewells IPO GMP & Review: Apply or Avoid?

Explanation

Grover Jewells IPO: Grover Jewells IPO Limited has declared an issue price band of ₹83 to ₹88 per share. With this IPO, the company allows retail investors to bid for at least 2 lots of 3,200 share, each worth ₹2,81,600. The face value of Grover Jewells IPO Limited shares is ₹10 per share. The shares of Grover Jewells IPO Limited will be listed on NSE and SME on its tentative listing day, 11th February 2026. Scroll down to check GMP updates and Grover Jewells IPO reviews.

About Grover Jewells Ltd.

Grover Jewells Limited was established in 2021. Grover Jewells Limited is involved in the manufacturing and designing of a wide range of wholesale gold jewelry. The product range of the company includes plain gold, studded, and semi-finished jewelry, mainly available in 22 Karat, 20 Karat, and 18 Karat. The company also provides hallmarked and non-hallmarked jewellery through its two showrooms situated at Karol Bagh, New Delhi, and Chandni Chowk, Delhi. The company operates through two major business segments: machine-made chain manufacturing and casting jewellery production, which helps the company meet both bulk orders and modern fashion-based designs with quality and on-time delivery. To facilitate its business operations, Grover Jewells Limited divides its sales into three divisions: wholesale sales, retail sales, and consumer sales. The company is headquartered in Delhi and has developed a robust B2B network in around 20 states in India. The company has also extended its global presence with exports to Australia and the U.A.E.

Grover Jewells Limited Financials

The company’s financial analysis is essential before applying for the Grover Jewells IPO. See the table for Grover Jewells Limited’s financials.

Year Ended	31st Oct 2025 (in cr.)	31st March 2025 (in cr.)	31st March 2024 (in cr.)	31st March 2023 (in cr.)
Assets	67.51	29.85	13.91	11.71
Revenue	473.22	460.95	258.00	255.11
Profit After Tax	10.45	7.62	2.78	2.71
EBITDA	14.62	11.26	4.71	4.10
Net Worth	27.14	16.69	9.07	6.29
Reserves and Surplus	16.48	14.03	6.41	3.63
Total Borrowings	28.30	9.34	4.17	3.74

Explanation

Grover Jewells Limited’s revenue increased by 16.99% from ₹258.00 crores in March 2024 to ₹301.85 crores in March 2025. Moreover, the company’s PAT increased by 174.10% from ₹2.78 crores in March 2024 to ₹7.62 crores in March 2025.

Grover Jewells IPO Objectives

The primary aim of the Grover Jewells IPO is to raise ₹33.83 crores. On the other hand, Grover Jewells has decided to utilise these funds in different ways.

To Working Capital Requirements
To General Corporate Expenses.

Grover Jewells IPO Registrar

Maashitla Securities Private Limited is the registrar for the Grover Jewells IPO, awaiting the allotment process and initiating refunds. For any queries regarding the Grover Jewells allotment and refund, you can contact Maashitla Securities Private Limited at info@bigshareonline.com or at +91-22-6263 8200.

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Grover Jewells IPO Review

The Grover Jewells IPO has gained neutral ratings from industry experts, brokers, and institutional investors. Grover Jewells Limited’s revenue increased by 16.99% from ₹258.00 crores in March 2024 to ₹301.85 crores in March 2025. Moreover, the company’s PAT increased by 174.10% from ₹2.78 crores in March 2024 to ₹7.62 crores in March 2025.

Most analysts recommend applying for this IPO to diversify your investment portfolio. However, we’re waiting for additional ratings to get a clearer picture and will keep posting them to deliver real-time insights. Until then, you can explore the company’s technical analysis to know whether you should apply for the Grover Jewells IPO or not.

Key Indicators	Value
PE Ratio (Price-to-Earnings)	12.31
EPS (Earnings Per Share)	7.15
RoNW	38.52%
ROCE	30.62%
ROE	–
EBITDA Margin	3.09%
Price to Book Value	3.46
Market Capitalisation	₹127.66 Cr

The P/E ratio of Grover Jewells Limited shares is 12.31, and its Earnings Per Share (EPS) stands at 7.15. Thus, the Grover Jewells IPO can deliver gains on its tentative listing date, 11th February 2026.

Note: The data, as mentioned above, is taken from authentic sources and highlights pre-issue information. The PE ratio and EPS of Grover Jewells Limited are subject to change after the IPO. Explore the table below to get post-issue updates on these two metrics.

Indicators	Pre-IPO	Post-IPO
PE Ratio	12.31	7.12
EPS	7.15	12.35

FAQs on Grover Jewells IPO

What is the Grover Jewells IPO GMP?

Currently, on 4th February 2026, the Grover Jewells IPO GMP (Grey Market Premium) stands at ₹0. This indicates that the estimated listing price could be ₹88.00 per share.

What is the issue price of the Grover Jewells IPO?

The Grover Jewells IPO issue price band is set at ₹83 to ₹88 per share.

Retail investors can apply for a minimum of 2 lots, each consisting of 3,200 shares, worth ₹2,81,600. Moreover, HNIs are required to bid for a minimum of 3 lots (4,800 shares) worth ₹4,22,400.

Who is the registrar of the Grover Jewells IPO?

Disclaimer: The above information is compiled from authentic sources and is just for informational purposes. To have detailed information about the Grover Jewells IPO, download the Grover Jewells IPO RHP and Grover Jewells IPO DRHP. Conduct your research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.