Deepa Jewellers Limited IPO – Details, Dates, Price Band, Financials, Strengths & Risks
Deepa Jewellers Limited is a B2B-focused jewellery company engaged in the design, processing, and supply of hallmarked gold jewellery. The company primarily serves jewellery retail chains and independent jewellery stores across Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, and Kerala, rather than selling directly to individual consumers.
The company specializes mainly in 22-karat gold jewellery, offering both plain gold and precious-stone-studded products. Its portfolio includes traditional and contemporary products such as Vaddanam, CNC machine-cut bangles, gents kada, kangan, earrings, necklaces, rings, and bracelets.
In addition to jewellery processing, Deepa Jewellers provides job-work services and trades in silver jewellery, 18K and 20K gold jewellery, precious stones, and gold bullion. As of July 31, 2026, the company offered 16 product categories covering 110 SKUs and had an in-house design team of 15 professionals developing products based on customer requirements, market trends, and regional preferences.
Deepa Jewellers Business Overview
Deepa Jewellers follows an outsourced manufacturing model supported by a network of 41 karigars. The company provides gold, alloys, precious stones, and other required raw materials to these skilled artisans, who manufacture jewellery according to the company’s designs and specifications.
As of July 31, 2026, the company had 373 customers across 13 states and one Union Territory. Its customer base consisted of 47 jewellery retail chains and 326 standalone jewellery stores. Its customers include established jewellery retailers such as Joyalukkas, Kalyan Jewellers, Lalithaa Jewellery Mart, Manoj Vaibhav Gems ‘N’ Jewellers, and Tribhovandas Bhimji Zaveri.
The company’s product concentration is particularly notable. During FY2026, Vaddanam accounted for 41.85% of revenue from operations, while CNC machine-cut bangles contributed 30.87%. Overall, 94.37% of FY2026 revenue came from South Indian states, highlighting the company’s strong regional presence.
To support future expansion, Deepa Jewellers is establishing an in-house manufacturing facility in Hyderabad. The facility is expected to increase production capacity and improve turnaround time. The company also opened a sales office in Vijayawada in November 2025 to strengthen its market presence.
Deepa Jewellers IPO – Key Details
| Particulars | Details |
|---|---|
| IPO Opening Date | 01 September 2026 |
| IPO Closing Date | 03 September 2026 |
| Issue Type | Book Built Issue |
| Total Issue Size | 2,59,72,633 Shares worth ₹459.72 Crore |
| Fresh Issue | 1,41,24,293 Shares worth ₹250.00 Crore |
| Offer for Sale | 1,18,48,340 Shares worth ₹209.72 Crore |
| Face Value | ₹2 per equity share |
| Price Band | ₹168 – ₹177 per share |
| Market Lot | 84 Shares |
| Minimum Order | 84 Shares |
| Listing | BSE & NSE |
| Registrar | Bigshare Services Pvt. Ltd. |
| QIB Portion | 50% |
| NII Portion | 15% |
| Retail Portion | 35% |
The Deepa Jewellers IPO consists of both a fresh issue of ₹250 crore and an offer for sale of ₹209.72 crore, taking the total issue size to approximately ₹459.72 crore.
Deepa Jewellers IPO Date Schedule
| IPO Activity | Date |
|---|---|
| IPO Opens | 01 September 2026 |
| IPO Closes | 03 September 2026 |
| Basis of Allotment | 04 September 2026 |
| Refund Initiation | 07 September 2026 |
| Shares Credited to Demat | 07 September 2026 |
| IPO Listing Date | 08 September 2026 |
| UPI Mandate Cut-off | 5 PM on 03 September 2026 |
Investors applying for the IPO should ensure that their UPI mandate is confirmed before the specified deadline.
Deepa Jewellers IPO Lot Size and Investment
| Investor Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail – Minimum | 1 | 84 | ₹14,868 |
| Retail – Maximum | 13 | 1,092 | ₹1,93,284 |
| S-HNI – Minimum | 14 | 1,176 | ₹2,08,152 |
| S-HNI – Maximum | 67 | 5,628 | ₹9,96,156 |
| B-HNI – Minimum | 68 | 5,712 | ₹10,11,024 |
At the upper end of the price band, a retail investor needs ₹14,868 to apply for one lot of 84 shares.
Competitive Advantages of Deepa Jewellers
Deepa Jewellers has developed several business strengths that support its position in the jewellery market. The company has a strong presence in southern India and offers a diverse range of jewellery products across different designs and weight categories.
Its key competitive advantages include:
- Strong presence across southern markets.
- Specialized expertise in Vaddanam and CNC machine-cut bangles.
- Diversified jewellery portfolio.
- Established procurement network.
- Long-standing relationships with skilled karigars.
- Experienced promoters and professional management team.
Deepa Jewellers IPO Promoters
The company is promoted by:
- Ashish Agarwal
- Seema Agarwal
- Dev Agarwal
Deepa Jewellers Financial Performance
Deepa Jewellers has reported consistent growth in revenue and profitability over the financial years presented.
| Financial Year | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| FY2024 | ₹1,025.73 Cr | ₹993.05 Cr | ₹24.35 Cr | ₹77.93 Cr |
| FY2025 | ₹1,400.10 Cr | ₹1,345.63 Cr | ₹40.58 Cr | ₹80.79 Cr |
| FY2026 | ₹1,927.73 Cr | ₹1,787.39 Cr | ₹104.79 Cr | ₹111.11 Cr |
Amount in ₹ Crore.
The company’s revenue increased from ₹1,025.73 crore in FY2024 to ₹1,927.73 crore in FY2026, while PAT increased from ₹24.35 crore to ₹104.79 crore during the same period.
Deepa Jewellers IPO Key Performance Indicators
As of March 31, 2026, the company reported the following key financial metrics:
| KPI | Value |
|---|---|
| ROE | 56.45% |
| ROCE | 52.08% |
| Debt/Equity | 0.47 |
| RoNW | 56.45% |
| PAT Margin | 5.44% |
| EBITDA Margin | 7.60% |
| NAV | 29.03 |
The reported EPS was ₹4.95 on a pre-IPO basis.
Deepa Jewellers IPO – Objects of the Issue
The primary purpose of the fresh issue is to strengthen the company’s working capital position. The company intends to utilize ₹215 crore towards its long-term working capital requirements, particularly for procurement, maintenance, and scaling of inventory.
The remaining proceeds are intended for general corporate purposes.
| Purpose | Expected Amount |
|---|---|
| Long-term working capital and inventory requirements | ₹215 Cr |
| General corporate purposes | As applicable |
Deepa Jewellers IPO Peer Comparison
The company has identified the following listed jewellery businesses for comparison:
| Company | Face Value | P/E Ratio |
|---|---|---|
| Sky Gold and Diamonds Limited | ₹10 | 57.56 |
| Shanti Gold International Limited | ₹10 | 12.72 |
| Shringar House of Mangalsutra Limited | ₹10 | 17.02 |
| RBZ Jewellers Ltd | ₹10 | 10.08 |
| Khazanchi Jewellers Limited | ₹10 | 22.22 |
Strengths of Deepa Jewellers IPO
The major strengths highlighted for Deepa Jewellers include:
- Customer network spanning 13 states and one Union Territory.
- Specialized product expertise in Vaddanam and CNC machine-cut bangles.
- Strong growth in revenue and profitability.
- Established network of karigars and procurement relationships.
- Product portfolio comprising 110 SKUs.
Risks Associated with Deepa Jewellers IPO
Investors should also evaluate the business risks associated with the company before making an investment decision.
Key risks include:
- Dependence on a limited number of major customers.
- Significant revenue concentration in South Indian markets.
- Dependence on Vaddanam and CNC machine-cut bangles.
- Exposure to fluctuations in gold prices.
- Reliance on third-party karigars for manufacturing.
These factors could influence the company’s revenue, margins, production capabilities, and overall business performance.
Deepa Jewellers IPO Promoter Holding
| Shareholding | Percentage |
|---|---|
| Pre-Issue Promoter Holding | 100.00% |
| Post-Issue Promoter Holding | 72.98% |
Following the IPO, promoter ownership is expected to reduce from 100% to 72.98%.
Deepa Jewellers IPO Prospectus
The detailed IPO documents include the company’s financial information, business operations, risk factors, issue structure, and other important disclosures.
- Deepa Jewellers IPO DRHP
- Deepa Jewellers IPO RHP
Deepa Jewellers Company Contact Information
Deepa Jewellers Ltd.
Ground Floor and First Floor,
Door No. 3-6-343 & 344,
Basheerbagh, Himayathnagar,
Hyderabad, Telangana – 500029
Phone: 91 76809 62117
Email: cs@deepajewel.com
Website: deepajewel.com
Deepa Jewellers IPO Registrar
Bigshare Services Pvt. Ltd.
Phone: 8657578989 / 8069219065 / 8069219060
Email: ipo@bigshareonline.com
IPO Status: Bigshare IPO status portal
Deepa Jewellers IPO Lead Managers
The lead managers for the Deepa Jewellers IPO are:
- Valmiki Leela Capital Private Limited
- Emkay Global Financial Services Limited
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Link : https://ipo.bigshareonline.com/IPO_Status.html
Conclusion
The Deepa Jewellers Limited IPO represents a B2B jewellery business with a strong presence across South India and a customer base comprising both major jewellery chains and standalone retailers. The company’s specialization in 22-karat gold jewellery, particularly Vaddanam and CNC machine-cut bangles, forms an important part of its current business profile.
The IPO is scheduled from September 1 to September 3, 2026, with a price band of ₹168–₹177 per share and a market lot of 84 shares. The total issue size is approximately ₹459.72 crore, comprising a ₹250 crore fresh issue and a ₹209.72 crore offer for sale.
The company’s strong revenue growth, expanding customer base, specialized product portfolio, and plans to strengthen working capital are notable factors. However, investors should also consider its geographical concentration, dependence on key products and customers, gold price volatility, and reliance on outsourced karigars.
Note: This article is based on the information provided in the supplied source material and is intended for educational and informational purposes. Investors should review the company’s official offer documents and conduct their own due diligence before making investment decisions.
