New IPO Alert: Deepa Jewellers’ ₹460 crore issue to open on Sep 1; check price band, other details

Deepa Jewellers on Thursday, August 27, fixed a price band of ₹168-177 per share for its upcoming ₹460 crore Initial Public Offering (IPO).

The public issue will open for subscription on September 1 and close on September 3. Bidding by anchor investors will take place on August 31, according to a public announcement.

The IPO comprises a fresh issue of equity shares aggregating up to ₹250 crore and an offer for sale (OFS) of over 1.18 crore equity shares.

At the upper end of the price band, the issue size will be around ₹460 crore. The post-issue implied market capitalisation is estimated at around ₹1,700 crore at the higher end.

Proceeds from its fresh issuance will be utilised for funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory by the company and general corporate purposes.

Under the issue structure, 50% of the offer has been reserved for Qualified Institutional Buyers (QIBs), 15% for non-institutional investors and 35% for retail investors.

The equity shares are proposed to be listed on both the BSE and NSE on September 8.

Emkay Global Financial Services and Valmiki Leela Capital are the book-running lead managers, while Bigshare Services is the registrar to the issue.

Based in Hyderabad, Deepa Jewellers is an organised B2B designer, processor and supplier of hallmarked gold jewellery, primarily having operations in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala.

Founded in 2016 by Ashish Agarwal, the company designs, processes and sells a wide range of jewellery, operating through an outsourced manufacturing model, supported by a network of karigars.

According to the CRISIL Report, it is one of the key processors and suppliers of vaddanam (or oddiyanam) and machine-cut bangles, distributing them to jewellery retail chains and standalone stores. As of November 2025, it has a product portfolio of 14 products and 76 stock keeping units (SKUs).