Deepa Jewellers IPO
Diamond, Gems and Jewellery • ₹459.72 Cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- High customer concentration flagged in the DRHP
- The company’s revenue from vaddanam stood at Rs 806.24 crore (41.85%), Rs 483.06 crore (34…
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹177
Lot Size
84 shares
Issue Size
₹459.72 Cr
Open
01 Sept 2026
Close
03 Sept 2026
Subscription
42.2×
IPO Schedule
| Issue Open Date | 01 Sept 2026 |
| Issue Close Date | 03 Sept 2026 |
| Allotment Date | 04 Sept 2026 |
| Listing Date | 07 Sept 2026 |
About Deepa Jewellers
Deepa Jewellers is a business-to-business (B2B) company engaged in designing, processing and supplying 22-karat hallmarked gold jewellery to jewellery retail chains and standalone stores. The company also undertakes job work assignments and trades in silver ornaments, 18-karat and 20-karat gold ornaments, precious stones, and gold bullion. Its jewellery portfolio includes vaddanam which is a a traditional South Indian gold waist belt, CNC machine-cut bangles, gents kada, vanky, dandpatti, necklaces, kangan, earrings, mangtika, maatil, jada, rings, and bracelets, among other products. As of July 31, 2026, it had 16 product categories and 110 SKUs, with 15 in-house designers. The company follows an outsourced manufacturing model and works with a network of 41 karigars. It supplies gold, alloys, and precious stones to the karigars, who manufacture jewellery according to its designs and specifications. The company is setting up an in-house manufacturing facility in Hyderabad, Telangana, and operates a sales office in Vijayawada, Andhra Pradesh, which was opened in November 2025.
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.
- Deepa Jewellers derives 94.37% of its FY26 revenue from Andhra Pradesh, Telangana, Tamil Nadu, Karnataka, and Kerala. Telangana was its largest market, contributing 41.58% of revenue, followed by Tami
- As of July 31, 2026, the company had 373 customers, comprising 47 jewellery retail chains and 326 standalone stores across 13 states and one Union Territory. Its customer base includes established jew
- The company claims to be one of the key processors and suppliers of vaddanam, a traditional South Indian gold waist belt, and CNC machine-cut bangles. Vaddanam contributes 41.85% and CNC machine-cut b
- The company offers 16 product categories with 110 SKUs as of July 31, 2026. Its portfolio covers products such as vaddanam, bangles, gents kada, vanky, necklaces, earrings, mangtika, jada, rings and b
- The company claims to have a network of 41 karigars as of July 31, 2026, including 29 with formal agreements. Of these, 25 karigars have been associated with the company for more than five years, supp
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
07 Sept 2026
Price Since Listing
Returns are measured against the ₹177 issue price.
Listing
₹221
+24.9%
1 Week
₹185.86
+5.0%
Current
₹202.54
+14.4%
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FAQ
What is the price band of Deepa Jewellers IPO?
The price band is ₹177 per share with a lot size of 84 shares. Minimum investment: ₹14,868.
What does Deepa Jewellers do?
Deepa Jewellers is a business-to-business (B2B) company engaged in designing, processing and supplying 22-karat hallmarked gold jewellery to jewellery retail chains and standalone stores. The company also undertakes job work assignments and trades in silver ornaments, 18-karat and 20-karat gold ornaments, precious stones, and gold bullion. Its jewellery portfolio includes vaddanam which is a a traditional South Indian gold waist belt, CNC machine-cut bangles, gents kada, vanky, dandpatti, necklaces, kangan, earrings, mangtika, maatil, jada, rings, and bracelets, among other products. As of July 31, 2026, it had 16 product categories and 110 SKUs, with 15 in-house designers. The company follows an outsourced manufacturing model and works with a network of 41 karigars. It supplies gold, alloys, and precious stones to the karigars, who manufacture jewellery according to its designs and specifications. The company is setting up an in-house manufacturing facility in Hyderabad, Telangana, and operates a sales office in Vijayawada, Andhra Pradesh, which was opened in November 2025.
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.