Deepa Jewellers’ IPO to Open September 1; Fresh Issue Worth ₹250 Crore
Deepa Jewellers CMD Ashish Agarwal Unveils ₹460-Crore IPO Plans in Ahmedabad
Bilkul Bazaar
Ahmedabad
Deepa Jewellers Limited is set to open its maiden Initial Public Offering (IPO) for subscription on September 1, with the company fixing the price band at ₹168 to ₹177 per equity share. The issue will remain open until September 3, 2026.
Ashish Agarwal, CMD, Deepa Jewellers, along with Dev Agarwal and GK Srinivas, was in Ahmedabad to announce the details of the company’s IPO and outline its growth plans.
The IPO comprises a fresh issue of up to ₹250 crore and an Offer for Sale (OFS) of up to 11,848,340 equity shares by promoter selling shareholders Ashish Agarwal and Seema Agarwal. The fresh issue proceeds will primarily be used to meet the company’s long-term working capital requirements, including procurement, maintenance and scaling up of inventory, besides general corporate purposes and issue expenses.
Investors can bid for a minimum of 84 equity shares, and thereafter in multiples of 84 shares. The shares are proposed to be listed on both the BSE and NSE.
B2B jewellery specialist
Incorporated in 2016, Deepa Jewellers is an organised B2B designer, processor and supplier of hallmarked gold jewellery, with operations primarily across Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala.
The company supplies jewellery to retail chains and standalone jewellery stores rather than selling directly to end consumers. Its portfolio includes vaddanam, CNC machine-cut bangles, gents kada, vanky, kangan, earrings, rings, bracelets and other traditional and contemporary jewellery.
As of July 31, 2026, the company had 373 customers across 13 states and one Union Territory, comprising 47 jewellery retail chains and 326 standalone stores. Its customer relationships include established names such as Joyalukkas India, Kalyan Jewellers India and Lalithaa Jewellery Mart.
The company reported revenue from operations of ₹1,926.68 crore in FY26, compared with ₹1,024.57 crore in FY24, while profit after tax increased to ₹104.79 crore from ₹24.35 crore during the same period.
Ashish Agarwal, CMD, Deepa Jewellers stated that ,“The IPO marks an important milestone in Deepa Jewellers’ journey. The fresh capital will strengthen our working capital position and support procurement and inventory expansion as we continue to build our B2B jewellery business.”
Dev Agarwal, Whole-Time Director, Deepa Jewellers highlighted saying that, “Our focus has been on building a wide product portfolio, strengthening relationships with jewellery retailers and expanding our presence across markets. The IPO will provide us with additional resources to support the next phase of our growth.”
IPO at a glance:
- Price band: ₹168–177 per share
- IPO opens: September 1, 2026
- IPO closes: September 3, 2026
- Minimum lot: 84 shares
- Fresh issue: Up to ₹250 crore
- OFS: 1.18 crore shares
- Listing: BSE and NSE
- Lead managers: Emkay Global Financial Services and Valmiki Leela Capital
- Registrar: Bigshare Services
Disclaimer: This article is for information purpose only and is not investment advice. Please read the IPO documents carefully before investing.
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