Deepa Jewellers IPO Details: Key Dates, Price Band & Investment Overview

By Wealthova | Last Updated: September 2, 2026

Deepa Jewellers Limited, a prominent B2B designer and supplier of hallmarked gold and diamond jewellery across Southern India, is gearing up to make its primary market debut with an upcoming ₹459.72 Crore mainboard IPO. Known for its strong procurement network, deep artisan relationships, and specialized regional product offerings like vaddanam (traditional waist belts) and CNC machine-cut bangles, the company operates a robust distribution network serving over 370 retail chains and standalone stores. The subscription window for this book-built issue opens on September 1 and closes on September 3, 2026. The price band is set between ₹168 to ₹177 per equity share, comprising a fresh issue of ₹250.00 Crore alongside an Offer for Sale (OFS) component of ₹209.72 Crore (1.18 crore shares) by the promoter group. The company plans to utilize the fresh capital primarily to fund long-term working capital requirements toward the procurement, maintenance, and scaling up of its jewelry inventory, alongside general corporate purposes. Set to list on the BSE and NSE platforms, market participants are closely watching this highly profitable regional jewelry player. Below, we break down the financial health, industry risk factors, and our honest Smart Market Insights to help you decide if you should subscribe to this issue!

Incorporated in 2016 and headquartered in Hyderabad, Deepa Jewellers Limited is an established B2B designer, processor, and supplier of hallmarked 22-karat gold and diamond jewellery. The company operates a highly scalable, asset-light business model. It designs jewellery through a 15-member internal team and utilizes a network of 41 skilled karigars (artisans) on a job-work basis. Deepa Jewellers supplies the raw gold, alloys, and stones upfront to these karigars and pays a making charge for the finished ornaments.

The company strictly operates in the Business-to-Business (B2B) segment and does not sell directly to end-consumers. Its extensive distribution network spans 13 states and 1 Union Territory, serving a robust client base of 373 customers, which includes 47 retail chains and 326 standalone stores.

• Core Specializations: The company is renowned for its vaddanam (traditional waist bands) and CNC machine-cut bangles. These two specific categories collectively drive approximately 75% of its overall revenue.
• Diverse Product Portfolio: The active catalogue features 16 distinct product categories and 110 unique SKUs. This encompasses heavy traditional items like kadas, vankys, earrings, rings, and gundlamala haaram.
• Allied Activities: Beyond custom manufacturing, Deepa Jewellers generates revenue through specialized job-work services for client-supplied raw materials. The company also operates by trading in silver, 18-20 karat gold, and bullion.

The Deepa Jewellers IPO comprises a total issue size of ₹459.72 Crore, out of which ₹209.72 Crore is an Offer for Sale (OFS) by promoter shareholders Ashish Agarwal and Seema Agarwal. The remaining ₹250.00 Crore constitutes the Fresh Issue, which the company intends to deploy toward the following strategic objectives:

• Funding Long-Term Working Capital (₹215.00 Crore): The B2B jewellery business is inherently working-capital heavy. It requires upfront cash outlays to procure expensive raw materials while offering extended credit periods to retail buyers. A massive portion of the fresh capital is explicitly allocated to fund the procurement, maintenance, and scaling of its inventory base.
• General Corporate Purposes: The unallocated balance from the fresh issue proceeds will be deployed toward standard corporate initiatives. This remaining capital will also be used to cover the public offer expenses.