Deepa Jewellers Sets IPO Price Band at ₹168 to ₹177 per Share, Opens Sept 1

Hyderabad-based Deepa Jewellers Limited has fixed a price band of ₹168 to ₹177 per equity share of face value ₹2 each for its upcoming initial public offering (IPO), which is scheduled to open for public subscription on September 1, 2026, and close on September 3.

The equity shares of the Hyderabad company are proposed to be listed on both the BSE and the National Stock Exchange (NSE). The entire public offering is being conducted through the book-building route.

The issue comprises a fresh issue of equity shares aggregating up to ₹250 crore along with an offer for sale (OFS) of up to 11,848,340 equity shares by promoter shareholders. Under the OFS component, promoter Ashish Agarwal will offload up to 5,924,170 equity shares, while promoter Seema Agarwal will also offload up to 5,924,170 equity shares.

In terms of reservation and allocation for various investor categories, the company has set aside up to 50 percent of the net offer for qualified institutional buyers. At least 15 percent of the issue is reserved for non-institutional investors, and at least 35 percent of the total offer is allocated for retail individual investors.

According to Deepa Jewellers, proceeds from the ₹250 crore fresh issue will be utilised to fund the company's long-term working capital requirements. These funds will be directed towards procurement, maintenance, and inventory expansion. The remaining capital from the fresh issue will go towards general corporate purposes and the settlement of offer expenses.

Investors looking to participate in the public issue can bid for a minimum of 84 equity shares and in multiples of 84 shares thereafter. Deepa Jewellers currently has 82 million shares outstanding.