Deepa Jewellers’ strong listing reflects robust investor appetite for organised jewellery businesses.
The Hyderabad-based B2B jewellery company’s shares opened at Rs 221 on the NSE against an issue price of Rs 177, following a 42.61-times subscribed IPO. Deepa Jewellers made a strong debut on the stock exchanges on September 8, with its shares listing at nearly a 25% premium to the IPO price. The stock opened at Rs 221 on the NSE and Rs 221.05 on the BSE, against an issue price of Rs 177.
The Rs 459.72-crore IPO had received robust investor interest, closing 42.61 times subscribed. The non-institutional investor portion was subscribed 105.96 times, followed by qualified institutional buyers at 37 times and retail investors at 18.55 times.
The IPO comprised a Rs 250-crore fresh issue and an offer for sale of around Rs 209.72 crore. Of the fresh issue proceeds, Rs 215 crore has been earmarked for long-term working capital, including procurement, maintenance and scaling of jewellery inventory.
Deepa Jewellers is a B2B designer, processor and supplier of 22-carat hallmarked gold jewellery, serving retail chains and standalone jewellers across South India. The company reported Rs 1,926.68 crore in FY26 revenue, up from Rs 1,397.01 crore in FY25, while profit after tax rose 158% to Rs 104.79 crore.
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