Deepa Jewellers IPO Last Day (3 Sept) : Check Latest GMP Today, Subscription 7.49x, Price Band ₹168–₹177, Listing Date and Key Details

The Deepa Jewellers IPO is a ₹459.72 crore book-built issue that opened on September 1, 2026, and closes on September 3, 2026. It includes a ₹250 crore fresh issue and a ₹209.72 crore offer for sale (OFS). The price band is ₹168 to ₹177 per share, with a lot size of 84 shares.

The latest Deepa Jewellers IPO GMP was ₹24 on September 3, 2026, at 10:54 AM. At the upper price of ₹177, the GMP indicates an estimated listing price of ₹201 and a potential 13.56% premium. GMP is unofficial and may change before listing.

Deepa Jewellers IPO Details

Deepa Jewellers is raising ₹459.72 crore through a combination of fresh shares and OFS. The issue has 50% reserved for QIBs, 15% for NIIs and 35% for retail investors.

The lot size is 84 shares, requiring ₹14,868 at the upper price band. The shares are proposed to list on BSE and NSE on September 8, 2026.

IPO Metric	Details
IPO dates	September 1 to September 3, 2026
Price band	₹168 to ₹177
Issue price	₹177
Face value	₹2
Lot size	84 shares
Total issue size	₹459.72 crore
Fresh issue	₹250 crore
OFS	₹209.72 crore
Retail minimum investment	₹14,868
Listing	BSE, NSE
Tentative listing date	September 8, 2026
Market cap at offer price	₹1,701.40 crore

Deepa Jewellers IPO Subscription Status

The Deepa Jewellers IPO was subscribed 7.49 times by September 3, 2026, at 11:34 AM. Retail subscription stood at 7.96 times, NII at 15.73 times and QIB subscription excluding anchors at 0.48 times.

The issue received bids for 13,61,64,252 shares against 1,81,80,845 shares offered in the relevant categories. NII investors recorded the strongest subscription among the major categories.

Category	Subscription	Shares Offered	Shares Bid For
QIB (Ex Anchor)	0.48x	51,94,528	25,06,812
NII	15.73x	38,95,895	6,12,66,492
Retail	7.96x	90,90,422	7,23,90,948
Total	7.49x	1,81,80,845	13,61,64,252

What Does Deepa Jewellers Do?

Deepa Jewellers Limited, incorporated in 2016, is engaged in the retail and wholesale trading of gold and diamond jewellery. Its products include rings, necklaces, earrings, bangles, customised ornaments and traditional jewellery.

As of July 31, 2026, the company had 373 customers across 13 states and one union territory. This included 47 jewellery retail chains and 326 standalone stores, with 16 products and 110 SKUs.

Deepa Jewellers Financial Performance

Deepa Jewellers reported total income of ₹1,927.73 crore in FY26, up from ₹1,400.10 crore in FY25. PAT rose to ₹104.79 crore from ₹40.58 crore, while EBITDA increased to ₹146.34 crore.

Net worth increased to ₹238.07 crore from ₹133.21 crore. Total borrowings also increased to ₹111.11 crore from ₹80.79 crore during the period.

Financial Metric (₹ Crore)	FY24	FY25	FY26
Assets	174.64	217.67	357.18
Total Income	1,025.73	1,400.10	1,927.73
PAT	24.35	40.58	104.79
EBITDA	35.77	56.01	146.34
Net Worth	92.55	133.21	238.07
Total Borrowing	77.93	80.79	111.11

Deepa Jewellers IPO Valuation and Ratios

At the upper issue price of ₹177, the estimated post-IPO market capitalisation is ₹1,701.40 crore. The FY26 EPS is ₹4.95, while the supplied data reports a NAV of ₹29.03.

The company reported ROE of 56.45%, ROCE of 52.08%, EBITDA margin of 7.60%, PAT margin of 5.44% and debt-to-equity of 0.47.

Valuation Metric	Pre IPO	Post IPO
EPS	₹4.95	—
Market Cap	—	₹1,701.40 crore

How Will Deepa Jewellers Use IPO Money?

The company plans to use ₹215 crore of the IPO proceeds for long-term working capital requirements, including inventory procurement and expansion. The remaining amount will be used for general corporate purposes.

The working-capital allocation is important because jewellery businesses require significant inventory to support operations and sales.

Issue Object	Estimated Amount
Long-term working capital requirements	₹215 crore
General corporate purposes	Balance

Deepa Jewellers IPO GMP Today

The latest GMP is ₹24 as of September 3, 2026, at 10:54 AM. Against the ₹177 upper price, this gives an estimated listing price of ₹201 and an indicative premium of 13.56%.

GMP has fallen from ₹55 on August 31 to ₹44 on September 1, ₹28 on September 2 and ₹24 on September 3. This indicates weaker grey-market sentiment ahead of the proposed listing.

Date	IPO Price	GMP	Est. Listing Price	Indicative Gain	Est. Profit/Lot
3 Sep 2026	₹177	₹24	₹201	13.56%	₹2,016
2 Sep 2026	₹177	₹28	₹205	15.82%	₹2,352
1 Sep 2026	₹177	₹44	₹221	24.86%	₹3,696
31 Aug 2026	₹177	₹55	₹232	31.07%	₹4,620
30 Aug 2026	₹177	₹45	₹222	25.42%	₹3,780
29 Aug 2026	₹177	₹53	₹230	29.94%	₹4,452
28 Aug 2026	₹177	₹47	₹224	26.55%	₹3,948
27 Aug 2026	₹177	₹47	₹224	26.55%	₹3,948

Estimated profit per lot is calculated as GMP × 84 shares.

GMP Disclaimer: Grey Market Premium is an unofficial and unregulated indicator based on grey-market activity. It does not guarantee the IPO's actual listing price or listing gains. GMP can change with market sentiment and demand.

Deepa Jewellers IPO Anchor Investors

Deepa Jewellers raised ₹137.91 crore from anchor investors on August 31, 2026. A total of 77,91,789 shares were allocated to the anchor portion.

Half of these shares have a 30-day lock-in ending October 4, 2026. The remaining shares have a 90-day lock-in ending December 3, 2026.

Anchor Detail	Information
Bid date	August 31, 2026
Shares allocated	77,91,789
Anchor amount	₹137.91 crore
50% lock-in ends	October 4, 2026
Remaining lock-in ends	December 3, 2026

Deepa Jewellers IPO Lot Size and Investment

The minimum application is 84 shares, requiring ₹14,868 at the upper price band. Retail investors can apply for up to 13 lots, while S-HNI applications start from 14 lots.

At the latest GMP of ₹24, one 84-share lot has an indicative profit of ₹2,016 if the estimated listing price of ₹201 is achieved.

Application	Lots	Shares	Amount
Retail Minimum	1	84	₹14,868
Retail Maximum	13	1,092	₹1,93,284
S-HNI Minimum	14	1,176	₹2,08,152
S-HNI Maximum	67	5,628	₹9,96,156
B-HNI Minimum	68	5,712	₹10,11,024

Deepa Jewellers IPO Important Dates

The IPO opened on September 1, 2026, and closes on September 3. Allotment is expected on September 4, followed by refunds and share credit on September 7.

The tentative listing date is September 8, 2026, on both BSE and NSE.

Event	Date
IPO Open	September 1, 2026
IPO Close	September 3, 2026
Allotment	September 4, 2026
Refund	September 7, 2026
Credit of Shares	September 7, 2026
Listing	September 8, 2026

Deepa Jewellers IPO: What Should Investors Watch?

Deepa Jewellers has reported strong FY26 growth, with income of ₹1,927.73 crore and PAT of ₹104.79 crore. Its ROE, ROCE and ₹215 crore working-capital allocation are key factors to consider.

However, GMP has declined from ₹55 to ₹24. Investors should also assess jewellery demand, gold prices, inventory needs, customer concentration and borrowings before making an investment decision.

Disclaimer: This article is for informational and educational purposes only and is not investment advice or a recommendation to buy or sell securities. GMP figures are unofficial and indicative. Investors should conduct their own research, review the company's offer documents and consult a qualified financial adviser before making investment decisions.