Deepa Jewellers has received final approval from the Securities and Exchange Board of India for its proposed initial public offering (IPO). The Hyderabad-based company had filed its draft papers with SEBI on December 29, 2025. The IPO comprises a fresh issue of up to Rs 250 crore and an offer for sale of up to 11,848,340 shares by promoters Ashish Agarwal and Seema Agarwal.

Incorporated in 2016, Deepa Jewellers operates as a B2B designer, processor and supplier of hallmarked gold jewellery. Its operations are primarily spread across Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. According to a CRISIL report, the company is among the processors and suppliers of vaddanam and CNC machine-cut bangles, catering to jewellery retail chains and standalone jewellery stores.

The company processes 22-karat gold jewellery and also undertakes job-work services and trading of jewellery-related products. It follows an outsourced manufacturing model supported by a network of 40 karigars. Its product range includes vaddanam, CNC machine-cut bangles, gents kada, vanki, dandpatti, necklaces, earrings, mangtika, braid ornaments and rings. The company also trades in silver ornaments, 18 and 20-karat gold jewellery, precious stones and gold bullion. As of November 30, 2025, the company had a customer base of 315 customers across 13 states and one union territory, including 43 jewellery retail chains and 272 standalone stores.