Deepa Jewellers IPO
Diamond, Gems and Jewellery • ₹460cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- Heavy regional reliance on Southern India exposes the business to local risks.
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹168-177
Lot Size
84 shares
Issue Size
₹460cr
Open
01 Sept 2026
Close
03 Sept 2026
Subscription
42.2×
GMP +₹25 → est. ₹202
IPO Schedule
| Issue Open Date | 01 Sept 2026 |
| Issue Close Date | 03 Sept 2026 |
| Allotment Date | 04 Sept 2026 |
| Listing Date | 08 Sept 2026 |
About Deepa Jewellers
Deepa Jewellers operates in the business-to-business gems and jewellery sector, focusing on the sale of products like vaddanam and CNC machine-cut bangles to retail chains and standalone stores. The company generates the majority of its revenue from operations in Southern India, specifically within Telangana, Andhra Pradesh, and Tamil Nadu. Along with its primary offerings, the product portfolio includes traditional neck pieces, armlets, earrings, rings, precious stones, pearls, and gold bullion. Currently, production is fully outsourced to third-party karigars who craft the ornaments according to company specifications. To scale capacity and improve operational efficiencies, the company is in the process of transitioning to a new in-house manufacturing facility located in Hyderabad. Revenue is derived directly from wholesale transactions with jewellery retailers, supported by targeted marketing and flexible take-back arrangements for unsold inventory.
Company Details
Founders / Promoters
Mr Ashish Agarwal
Founded
2016
Registrar
BIGSHARE
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Deepa Jewellers — IPOFins Verdict
QuantitativeDriven by QIB demand at 37.0x and moderate disclosed risk (5/10), Deepa Jewellers listed at a premium of 24.9% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- Strong B2B focus with diverse products like vaddanam and bangles.
- Asset-light model with 100% manufacturing outsourced to third-party karigars.
- Established and significant market presence across Southern India.
- Strong financial performance with PAT CAGR of 107.46% (FY24-FY26).
- Stringent quality controls, including BIS hallmarking and fire assaying
Score breakdown — what drove this verdict
Moderate risk from DRHP → score +0.0
Institutional subscription → score +2.0
Strong retail interest → score +0.5
Actual listing outcome → score +1.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹177
Listing Price
₹221
Listing Gain/Loss
+24.86%
Listing Date
08 Sept 2026
Price Since Listing
Returns are measured against the ₹177 issue price.
Listing
₹221
+24.9%
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FAQ
What is the price band of Deepa Jewellers IPO?
The price band is ₹168-177 per share with a lot size of 84 shares. Minimum investment: ₹14,868.
What does Deepa Jewellers do?
Deepa Jewellers operates in the business-to-business gems and jewellery sector, focusing on the sale of products like vaddanam and CNC machine-cut bangles to retail chains and standalone stores. The company generates the majority of its revenue from operations in Southern India, specifically within Telangana, Andhra Pradesh, and Tamil Nadu. Along with its primary offerings, the product portfolio includes traditional neck pieces, armlets, earrings, rings, precious stones, pearls, and gold bullion. Currently, production is fully outsourced to third-party karigars who craft the ornaments according to company specifications. To scale capacity and improve operational efficiencies, the company is in the process of transitioning to a new in-house manufacturing facility located in Hyderabad. Revenue is derived directly from wholesale transactions with jewellery retailers, supported by targeted marketing and flexible take-back arrangements for unsold inventory.
Should I apply for Deepa Jewellers IPO?
Deepa Jewellers listed at ₹221 (+24.9% premium to the ₹177 issue price) after 42.2x subscription. IPOFins Score 9/10: Driven by QIB demand at 37.0x and moderate disclosed risk (5/10), Deepa Jewellers listed at a premium of 24.9% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded Deepa Jewellers?
Deepa Jewellers was founded by Mr Ashish Agarwal in 2016.