Deepa Jewellers gains on debut

The stock debuted at Rs 221.05 on the BSE, a premium of 24.89% over its issue price.

So far, the stock has hit a high of Rs 222.10 and a low of Rs 196.10. On the BSE, over 16.99 lakh shares of the company were traded in the counter so far.

The initial public offer of Deepa Jewellers was subscribed 42.61 times. Deepa Jewellers' Rs 459.72 crore IPO opened for subscription on 1 September 2026 and closed on 3 September. The issue comprised a fresh issue of shares worth up to Rs 250 crore and an offer for sale of 1,18,48,340 shares worth up to Rs 209.72 crore at the upper price band. The price band was fixed at Rs 168-177 per share, with a lot size of 84 shares. The shares will be listed on the BSE and NSE.

The company allotted 77,91,789 shares to anchor investors at Rs 177 per share, raising Rs 137.91 crore ahead of the IPO.

Proceeds from the OFS will go to the selling shareholders. The fresh issue will primarily fund the company's working capital requirements, with Rs 215 crore earmarked for procurement, maintenance and scaling up of inventory. Deepa Jewellers is also setting up a 6,696 sq ft in-house manufacturing facility in Hyderabad, which is expected to be operational before the end of H1 FY27.

Deepa Jewellers is a Hyderabad-based B2B designer, processor and supplier of 22-carat hallmarked gold jewellery. It operates primarily across southern India and follows an outsourced processing model supported by a network of 41 karigars. The company also undertakes job work and trades in silver ornaments, 18- and 20-carat gold jewellery, precious stones and gold bullion.

As of 31 July 2026, the company had 373 customers across 13 states and one Union Territory. Its customer base comprised 47 jewellery retail chains and 326 standalone stores. It had 16 product categories and 110 SKUs. Major customers include Joyalukkas, Kalyan Jewellers and Lalithaa Jewellery Mart. The company sold a total of 1,644 kg of jewellery during FY26.

The company's revenue from operations increased 38% to Rs 1,926.68 crore in FY26 from Rs 1,397.01 crore in FY25. Profit before tax increased 158% to Rs 140.33 crore and profit after tax rose 158% to Rs 104.79 crore.

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