Deepa Jewellers IPO: Issue fully subscribed on Day 2, retail portions lead; check category-wise subscription

The B2B gems and jewellery firm Deepa Jewellers' initial public offering (IPO) got fully subscribed on the second day of subscription, with a total booking of 3.61 times on Wednesday, September 2.

Until 5 PM, the initial share sale of the company had received bids for 6,69,03,648 shares as compared to 1,85,20,085 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 5.11 times, while the retail individual investor (RII) segment saw a 4.71 times subscription. However, the Qualified Institutional Buyers (QIB) portion was booked 0.46 times.

Deepa Jewellers’ IPO comprises a fresh issue of ₹250 crore and an offer for sale (OFS) of ₹209.72 crore. The total issue size stands at ₹459.72 crore.

The book-building issue has a price band between ₹168 and ₹177 per share.

The minimum lot size for an application is 84 shares, with investors required to apply for at least one lot. The total issue size is approximately ₹459.72 crore.

Deepa Jewellers Objective

The money raised from the IPO will be used towards the following objectives:

Deepa Jewellers IPO: Allotment and listing date

About the company

Deepa Jewellers is a well-organised B2B jewellery designer, processor, and supplier of hallmark gold jewellery, whose business operations are largely confined to Telangana, Karnataka, Andhra Pradesh, Tamil Nadu, and Kerala.

It is a key processor and supplier of waist belts and CNC machine-cut bangles, supplying to jewellery retail chains and stand-alone shops and not to end-users directly. 

The company is involved in the processing and supplying of 22-karat gold jewellery; job work; and trading of jewellery and other allied products, including silver ornaments, 18- and 20-karat gold ornaments, precious stones, and gold bullion.

As of July 31, 2026, it had a product portfolio of 16 products and 110 SKUs covering studded gold jewellery and plain gold jewellery. The customer base of the company operated in 13 states and 1 union territory of India and had a customer base of 373 customers consisting of 47 jewellery retail chain stores and 326 standalone stores.