Deepa Jewellers sets ₹459.7 crore IPO at ₹168–177 a share
Hyderabad-based B2B jewellery supplier Deepa Jewellers will open its IPO from September 1–3. The ₹250 crore fresh issue will largely support inventory and working capital, including ₹215 crore earmarked for working-capital needs.
What happened
Hyderabad-based B2B jewellery supplier Deepa Jewellers will open its Rs 459.7 crore IPO on September 1 at Rs 168-177 per share. Fresh proceeds will primarily
Key facts
- IPO price band: Rs 168-177 per share
- Issue size: Rs 459.7 crore
- Fresh issue: Rs 250 crore
- Offer for sale: up to 1.18 crore shares worth Rs 209.7 crore
- Implied market capitalisation at upper band: Rs 1,701.4 crore
- Working-capital allocation: Rs 215 crore
- FY ended March 2026 revenue: Rs 1,926.7 crore, up 37.9%
- FY ended March 2026 net profit: Rs 104.8 crore, up 158.2%
- Network of 41 karigars
Why this matters
The capital raise positions Deepa Jewellers to scale its B2B jewellery supply network, making it a better-funded potential partner, competitor or consolidation target in the fragmented trade jewellery market.
What to watch
- Day-wise IPO subscription, especially qualified institutional buyer participation.
- Issue pricing relative to the ₹168–177 band and grey-market or pre-listing sentiment.
- September 8 listing performance and trading liquidity.
- Gold-price volatility, which can increase inventory funding needs and affect retailer replenishment demand.
- Working-capital metrics: inventory days, receivable days, borrowing costs and operating cash flow.
- Festive and wedding-season B2B order growth after IPO proceeds are deployed.
- Complete IPO bookbuilding and disclose institutional, non-institutional and retail subscription trends.
- Deploy fresh-issue proceeds primarily toward inventory and working capital ahead of key jewellery-demand periods.
- Increase B2B supply capacity for regional jewellery retailers, potentially broadening customer coverage in southern and adjacent markets.
- Use listed-company visibility to negotiate supplier terms and potentially improve access to bank working-capital facilities.
- Report post-listing inventory turnover, receivables collection and operating-cash-flow trends as investors test whether capital deployment is productive.