Deepa Jewellers IPO
Deepa Jewellers, founded in 2016, is one of the leading wholesalers and traders of gold and diamond jewellery. The firm sells a wide range of traditional and contemporary designs across rings, necklaces, earrings, bangles, and customized ornaments. So far, the company offers 16 products with 110 different products across various categories.
IPO GMP
+₹25
+14% expected gain
Price Band
₹177
Lot Size
84 shares
Min Investment
₹14,868
Listing Date
September 8, 2026
About Deepa Jewellers
Company overview, business, and key facts.
Deepa Jewellers, founded in 2016, is one of the leading wholesalers and traders of gold and diamond jewellery. The firm sells a wide range of traditional and contemporary designs across rings, necklaces, earrings, bangles, and customized ornaments. So far, the company offers 16 products with 110 different products across various categories.
Its product portfolio includes Vaddanam (waist belt), CNC machine-cut bangles, gents kada, vanky(armlet), dandpatti (bajuband), gundlamala haaram (traditional neck piece), gundlamala necklace, kangan, earring, mangtika (forehead pendant), maatil (ear chain), champasaralu (ear to hair chain), jada (braid ornament), and rings. Deepa Jewellers source, design, and sell jewellery products crafted with quality and skilled craftsmanship. The firm developed its business with an aim to offer pure jewellery, clear and transparent pricing, and to build customer trust.
Founded
2016
Headquarters
Hyderabad, Telangana
Promoters
Ashish Agarwal, Seema Agarwal, Dev Agarwal
Website
https://www.deepajewel.com/
IPO Details
Subscription Status
How many times each investor category has bid for the issue.
Strengths & Risks
Strengths
- Strong Presence in Southern India: The company enjoys a strong presence in Southern India, which adds to its overall business and revenue.
- Customer Base: Deepa Jewellers has a well-established customer base for jewellery retail chains and independent jewellery retail stores. The customer base covers 13 states and one Union Territory with 373 customers.
- Diverse and Specialized Product Portfolio: The company offers a wide range of jewellery products under various design and weight categories. The company enjoys specialization in vaddanam and CNC machine cut bangles, along with 16 products and 110 SKUs.
Risks
- Risk Associated With Customer Concentration: The revenues earned from the company’s top 10 customers amount to ₹12,460.30 million, ₹8,839.29 million, and ₹6,901.89 million for Fiscals 2026, 2025, and 2024, accounting for 64.67%, 63.27%, and 67.36% of revenues from operations. Thus, any decline or discontinuation of business can have a significant impact on the performance of the company.
- Dependence on Key Products: The firm generates a significant part of its income from vaddanam and CNC machine cut bangles. Vaddanam generated a revenue of ₹8,062.41 million, ₹4,830.59 million and ₹3,755.56 million, which constituted 41.85%, 34.58% and 36.66% of the total revenue in Fiscals 2026, 2025 and 2024, respectively, whereas CNC machine cut bangles generated a revenue of ₹5,948.53 million, ₹5,842.21 million and ₹4,075.94 million, constituting 30.87%, 41.82% and 39.78%, respectively.
- Focus on Southern India: A major part of the business operations and revenues of the firm is generated in Southern India. The revenues generated by the firm from Southern India were ₹18,181.87 million, ₹13,738.07 million and ₹10,199.85 million, which constituted 94.37%, 98.33% and 99.55% of total revenues in Fiscal Years 2026, 2025 and 2024.
Financials
Restated summary financials for the most recent periods.
Figures are indicative and restated for presentation.
Deepa Jewellers IPO Key Numbers
Calculated by IPOLyst from the published offer-document data. These are figures, not buy or sell calls.
Revenue growth, 2026
+37.7%
37.1% a year over the period
Profit growth, 2026
+158.2%
107.4% a year over the period
Profit margin (PAT)
5.4%
EBITDA margin 7.6%
ROE / ROCE
56.45% / 52.08%
As published in the offer document
Debt to equity
0.47
Issue mix
54.4% fresh / 45.6% sale
Fresh issue goes to the company, offer for sale to selling shareholders
GMP-implied gain per lot
₹2,100
84 shares on ₹14,868. GMP is unofficial.
What stands out
- Profit grew 158.2% in 2026.
- GMP has been rising over the last three readings.
Watch-outs
- 1 use-of-proceeds item(s) have no disclosed amount.
Scenarios apply today's grey market premium figures to the upper price band. They are illustrations, not predictions. GMP is unofficial and can be wrong.
Not yet available for this IPO: post-IPO share count (market cap and P/E not computable).
IPO Analysis SummaryAI-generated
A plain-language review of Deepa Jewellers's financials, valuation and demand, based only on the verified figures above. For information only. It does not recommend whether to apply.
Deepa Jewellers IPO Review
Analysis based on live GMP, subscription, and issue details.
As of today, Deepa Jewellers IPO is trading at a grey market premium (GMP) of +₹25 (+14% estimated listing gain), indicating positive market sentiment.
The IPO has been subscribed 42.2x overall — QIB: 37x, NII: 105.69x, Retail: 17.86x.
Deepa Jewellers IPO subscription has closed. The shares are expected to list on September 8, 2026.
The minimum investment required is ₹14,868 for 84 shares (1 lot). Retail investors can apply at cut-off price for the best chance of allotment.
Key strengths include: Strong Presence in Southern India: The company enjoys a strong presence in Southern India, which adds to its overall business and revenue.; Customer Base: Deepa Jewellers has a well-established customer base for jewellery retail chains and independent jewellery retail stores. The customer base covers 13 states and one Union Territory with 373 customers.. Investors should note the following risks: Risk Associated With Customer Concentration: The revenues earned from the company’s top 10 customers amount to ₹12,460.30 million, ₹8,839.29 million, and ₹6,901.89 million for Fiscals 2026, 2025, and 2024, accounting for 64.67%, 63.27%, and 67.36% of revenues from operations. Thus, any decline or discontinuation of business can have a significant impact on the performance of the company.; Dependence on Key Products: The firm generates a significant part of its income from vaddanam and CNC machine cut bangles. Vaddanam generated a revenue of ₹8,062.41 million, ₹4,830.59 million and ₹3,755.56 million, which constituted 41.85%, 34.58% and 36.66% of the total revenue in Fiscals 2026, 2025 and 2024, respectively, whereas CNC machine cut bangles generated a revenue of ₹5,948.53 million, ₹5,842.21 million and ₹4,075.94 million, constituting 30.87%, 41.82% and 39.78%, respectively..
Disclaimer: IPO GMP is indicative and sourced from the grey market. This is not investment advice. Please consult a SEBI-registered advisor before investing.
Deepa Jewellers IPO — Frequently Asked Questions
What is Deepa Jewellers IPO GMP today?
Deepa Jewellers IPO GMP (grey market premium) today is +₹25, suggesting an estimated listing gain of +14%. GMP is indicative and subject to change.
What is the price band of Deepa Jewellers IPO?
The price band for Deepa Jewellers IPO is ₹177 with a lot size of 84 shares. The minimum investment required is ₹14,868.
When is Deepa Jewellers IPO allotment date?
Deepa Jewellers IPO allotment is expected to be finalised on September 4, 2026. You can check your allotment status on the registrar's website (Bigshare Services Pvt. Ltd.) using your PAN number.
When will Deepa Jewellers IPO list on NSE/BSE?
Deepa Jewellers IPO is expected to list on BSE, NSE on September 8, 2026.
How to check Deepa Jewellers IPO allotment status?
To check Deepa Jewellers IPO allotment status, visit the registrar's website (Bigshare Services Pvt. Ltd.) and enter your PAN number, application number, or DP/Client ID. You can also check on the BSE IPO allotment page at https://www.bseindia.com/investors/appli_check.aspx.
Should I apply for Deepa Jewellers IPO?
Deepa Jewellers IPO has a GMP of +₹25. Before applying, review the company's financials, business model, issue structure (OFS vs fresh issue), and sector outlook. IPOLyst is not a SEBI-registered investment advisor — please consult a qualified financial advisor before investing.
What is the lot size of Deepa Jewellers IPO?
The lot size for Deepa Jewellers IPO is 84 shares per lot. The minimum investment for retail investors is ₹14,868. Retail investors can apply for a maximum of 13 lots or up to ₹2 lakh, whichever is lower.