Deepa Jewellers IPO Day 3: GMP Drops to 13% as Subscription Hits 6.55x – Should Investors Consider Joining?

The Deepa Jewellers IPO has successfully entered its third day of bidding, garnering a notable interest from investors. With a price range set between Rs 168 and Rs 177 per equity share, the IPO aims to raise a total of Rs 459.72 crore through a combination of a fresh issue and an offer for sale (OFS). The subscription period is open until September 3, and as of now, the overall issue is subscribed at 6.55% against the total offer of 1.85 crore shares, indicating a positive response from investors with particular strength in the retail and non-institutional segments.

Currently, the grey market sentiment shows a premium of Rs 24 per share, suggesting a 13.54% upside from the upper price band, with an estimated listing price around Rs 201 per share. This premium, however, indicates a slight decline from earlier days when it was noted at a 25% premium, reflecting more cautious investor sentiment. Notably, the retail segment saw subscriptions of 7.27 times, while the non-institutional investor portion was subscribed 12.63 times, showcasing robust interest, especially from smaller investors.

For Indian investors, the Deepa Jewellers IPO presents a compelling opportunity with strong financial fundamentals, such as a 158% increase in profit after tax (PAT) for FY26, and a well-defined growth strategy centered on enhancing operational efficiency and inventory management. Market analysts advocate a ‘subscribe’ rating for long-term investors, particularly highlighting the favourable market dynamics in the organized jewellery sector. The anticipated listing on both NSE and BSE on September 8, 2026, adds to the attractiveness of this offering for retail investors looking for growth in their portfolios.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)