Q1. What is the business of Deepa Jewellers Limited?

It is an organised B2B designer, processor and supplier of hallmarked 22‑carat gold jewellery, serving retail chains and stores across southern India.

Q2. Why is the company raising funds via IPO?

Deepa Jewellers is raising funds via IPO to support long‑term working capital, inventory expansion and general corporate purposes.

Q3. What is the size of the issue and where will it list?

The issue size of the IPO consists of a fresh issue worth ₹ 250 Cr + OFS of ~1.18 Cr equity shares. It will be listed on BSE and NSE platform.

Q4. What are the key risks to an investor?

Key risks include gold price volatility, reliance on jewellery retailers, inventory management challenges and intense industry competition.

Q5. What are the potential upsides?

Upsides include strong B2B niche positioning, diversified retail network, scalable outsourced model, and healthy revenue/profit growth.

Q6. How to apply for the IPO?

Investors can apply through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

Deepa Jewellers Limited

Upcoming

Deepa Jewellers Limited

Market Cap

—

IPO Issue Size

₹250 crore, +OFS up to 11,848,340 shares

Expected Price by IPOCorner

—

IPO Score

*Score varies on actual price

Deepa Jewellers Limited is an organised B2B designer, processor and supplier of hallmarked gold jewellery, serving jewellery retail chains and standalone stores across southern India. It specialises in processing and supplying 22‑carat gold jewellery through an outsourced manufacturing network supported by around 40 karigars.

Deepa Jewellers Limited was incorporated on 2016 & currently Mr. Ashish Agarwal serves as the Chairman & Managing Director of the company.

Deepa Jewellers Limited filed its DRHP with SEBI on December 29, 2025. The IPO features a fresh issue to raise up to ₹250 crore, along with an offer for sale of up to 11,848,340 shares by the promoters.

It designs, processes and supplies hallmarked 22‑carat gold jewellery to organised retailers through an outsourced manufacturing model and offers a wide product portfolio including vaddanam, bangles, necklaces, earrings, rings and more across 14 product categories.Its customer network spans 315 customers comprising 43 jewellery retail chains and 272 standalone stores across 13 states and 1 union territory.

Subscription date to apply for Deepa Jewellers Limited is yet to be announced. Price band for the IPO is yet to be declared.

₹250 crore, +OFS up to 11,848,340 shares

Year	2025
Networth	₹ 133.20 Cr
Revenue	₹ 1397.01 Cr
EBITDA	₹ 56.01 Cr
PAT	₹ 40.58 Cr
EBITDA Margin	~4.01%
PAT Margin	~2.90%
Face Value	Rs.02 per Equity Share

IPO Important Dates

#	Date
Open Date
Close Date
Anchor Investor Bidding
Allotment Date
Refunds& Demat Credit
Tentative Listing Date

Use Of Proceeds

Purpose	Amount
-	-
-	-
-	-
-	-
-	-
General Corporate Purpose	Balance

Financial Data

#	2023	2024	2025
Revenue (₹ Cr)	₹ 921.3	₹ 1,024.6	₹ 1,397.0
PAT (₹ Cr)	₹ 22.0	₹ 24.3	₹ 40.6
Asset (₹ Cr)	₹ 152.8	₹ 174.6	₹ 217.7
Net Worth (₹ Cr)	₹ 68.1	₹ 92.6	₹ 133.2

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
23-Aug	₹ –	₹ –	₹ –
22-Aug	₹ –	₹ –	₹ –
21-Aug	₹ –	₹ –	₹ –
20-Aug	₹ –	₹ –	₹ –
19-Aug	₹ –	₹ –	₹ –

Pros

Strong B2B position in organised jewellery supply, tapping growing demand in India’s jewellery market.
Consistent revenue and profit growth in recent years pre‑IPO.
Diversified customer base across 13 states with established retail partners (e.g., Kalyan, Joyalukkas).
Asset‑light outsourced manufacturing model reduces fixed costs.
IPO funds focused on scaling inventory and working capital, potentially boosting growth.

Cons

Jewellery industry is highly competitive with thin margins and cyclical demand.
Lack of wide direct retail presence, revenue depends on third‑party retail clients.
Gold price volatility can impact inventory costs and profitability (industry risk).
As a new public company, valuation and listing gains are uncertain.
IT/data system risks and dependence on vendors could affect operations.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
Ashish Agarwal	48.79%
Seema Agarwal	48.78%
Dev Agarwal	2.41%
-	-
-	-
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	–	1	–	₹ –
Retail (Max)	–	13	–	₹ –
HNI (Min)	–	14	–	₹ –
HNI (Max)	–	66	-	₹ –
Big HNI (Min)	–	67	–	₹ –

Key Performance Index (KPI)

ROE	35.95%
ROCE	30.60%
RoNW	35.95%

Lead / Book Running Lead Managers

Emkay Global Financial Services Limited ,Valmiki Leela Capital Private Limited

Registrar (RTA)

Bigshare Services Private Limited

Q1. What is the business of Deepa Jewellers Limited?
It is an organised B2B designer, processor and supplier of hallmarked 22‑carat gold jewellery, serving retail chains and stores across southern India.
Q2. Why is the company raising funds via IPO?
Deepa Jewellers is raising funds via IPO to support long‑term working capital, inventory expansion and general corporate purposes.
Q3. What is the size of the issue and where will it list?
The issue size of the IPO consists of a fresh issue worth ₹ 250 Cr + OFS of ~1.18 Cr equity shares. It will be listed on BSE and NSE platform.
Q4. What are the key risks to an investor?
Key risks include gold price volatility, reliance on jewellery retailers, inventory management challenges and intense industry competition.
Q5. What are the potential upsides?
Upsides include strong B2B niche positioning, diversified retail network, scalable outsourced model, and healthy revenue/profit growth.
Q6. How to apply for the IPO?
Investors can apply through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.