Deepa Jewellers Limited has fixed the price band for its maiden initial public offering (IPO) at INR 168 to INR 177 per equity share. The issue will open on September 1, 2026 and close on September 3, 2026.

Investors can bid for a minimum of 84 equity shares and in multiples of 84 thereafter. The offer comprises a fresh issue of up to INR 2.5 billion and an offer-for-sale of up to 11,848,340 equity shares by promoter selling shareholders Ashish Agarwal and Seema Agarwal.

The proceeds from the fresh issue will be used primarily towards long-term working capital requirements, including procurement, maintenance and scaling up of inventory. Funds will also be allocated towards general corporate purposes and offer expenses.

Incorporated in 2016, Deepa Jewellers operates as a B2B designer, processor and supplier of hallmarked gold jewellery, with operations primarily across Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. The company supplies jewellery to retail chains and standalone stores.

Its portfolio includes 22-karat gold jewellery such as vaddanam, CNC machine-cut bangles, kadas, vanky, necklaces, earrings, rings and bracelets. The company also undertakes job work and trades in silver jewellery, 18- and 20-karat gold jewellery, precious stones and gold bullion.

As of July 31, 2026, the company had 373 customers across 13 states and one Union Territory, comprising 47 jewellery retail chains and 326 standalone stores. Its customers include Joyalukkas India, Kalyan Jewellers India and Lalithaa Jewellery Mart.

Deepa Jewellers reported revenue from operations of INR 19,266.76 million in FY26, compared with INR 10,245.68 million in FY24. Profit after tax stood at INR 1,047.88 million in FY26, against INR 243.47 million in FY24.

The shares are proposed to be listed on BSE and NSE.