Deepa Jewellers
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 36.73×
- Big non-institutionalbNII · above ₹10 lakh
- 127.56×
- Small non-institutionalsNII · ₹2–10 lakh
- 72.02×
- Retail individualRII · up to ₹2 lakh
- 19.09×
Bids received
The demand behind each multiple — what was offered, what was bid for, and what those bids are worth
| Category | Shares offered | Shares bid for | Bids (₹ Cr) | Times |
|---|---|---|---|---|
| Qualified institutional | 51,94,528 | 19,07,76,852 | ₹3,377 Cr | 36.73× |
| Non-institutional | 38,95,895 | 42,48,23,532 | ₹7,519 Cr | 109.04× |
| Big non-institutionalwithin NII | 25,97,263 | 33,12,95,244 | ₹5,864 Cr | 127.56× |
| Small non-institutionalwithin NII | 12,98,632 | 9,35,28,288 | ₹1,655 Cr | 72.02× |
| Retail individual | 90,90,422 | 17,35,05,360 | ₹3,071 Cr | 19.09× |
| Total | 1,81,80,845 | 78,91,05,744 | ₹13,967 Cr | 43.40× |
Times subscribed is the figure published for each category, not shares bid for divided by shares offered — a category's multiple is struck against its own allottable base, which is not always the offered count shown beside it. Observed 03 Sept, 06:11 pm IST; the registrar publishes the final basis of allotment.
Issue details
- IPO date
- 01 Sep 2026 – 03 Sep 2026
- Listing date
- 08 Sep 2026
- Face value
- ₹2 per share
- Price band
- ₹168 – ₹177
- Issue price
- ₹177 per share
- Lot size
- 84 shares
- Sale type
- Fresh capital cum OFS
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹460 Cr
- Fresh issue
- ₹250 Cr 1,41,24,293 shares
- Offer for sale
- ₹210 Cr 1,18,48,340 shares
- Market cap at offer price
- ₹1,701 Cr
- Promoter holding
- 100.00% → 72.98% pre-issue → post-issue
- ISIN
- INE1M2N01020
- CIN
- U74999TG2016PLC109435
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Emkay Global Financial Services Ltd.
- Registered office
- Ground floor and first floor, door no. 3-6-343 & 344, Basheerbagh, Himayathnagar, Hyderabad-500029, Telangana, India
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| QIB | 51,55,438 | 27.84% | 27.84% |
| Anchor investor · within QIB | 77,91,789 | — | 42.07% |
| NII (HNI) | 40,09,394 | 21.65% | 21.65% |
| bNII > ₹10L · within NII | 26,72,930 | — | 14.43% |
| sNII < ₹10L · within NII | 13,36,464 | — | 7.22% |
| Retail (RII) | 93,55,253 | 50.51% | 50.51% |
| Employee | 0 | — | 0.00% |
| Market maker | 0 | — | 0.00% |
| Total issue | 1,85,20,085 | — | 100.00% |
Net offer to the public of 1,85,20,085 shares, out of a total issue of 1,85,20,085. Indented rows sit inside the category above them and are not added to it.
Application size
Minimum 84 shares per lot, in multiples, at ₹177
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 84 | ₹14,868 |
| Retail (max) | 13 | 1,092 | ₹1,93,284 |
| S-HNI (min) | 14 | 1,176 | ₹2,08,152 |
| S-HNI (max) | 67 | 5,628 | ₹9,96,156 |
| B-HNI (min) | 68 | 5,712 | ₹10,11,024 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹177 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 12.78 | 10.90 |
| P/E (×) | 13.85 | 16.24 |
| Price to book (×) | 6.10 | — |
| Market cap | — | ₹1,701 Cr |
Key performance indicators
Latest reported period, standalone
- Return on net worth
- 56.45%
- ROCE
- 52.00%
- Debt / equity
- 0.47
- PAT margin
- 5.44%
- EBITDA margin
- 7.60%
- NAV per share
- ₹29.03
- Price to book
- 6.10
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
Standalone ·₹ crore unless a row shows % or ×, as reported in the offer document
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 1,927.73 | 1,400.1 | 1,025.73 |
| Revenue from operations | 1,926.68 | 1,397.01 | 1,024.57 |
| Other income | 1.05 | 3.09 | 1.16 |
| Total expenses | 1,787.39 | 1,345.63 | 993.05 |
| Operating profit | 140.34 | 54.47 | 32.68 |
| Operating margin | 7.28% | 3.89% | 3.19% |
| Profit before tax | 140.33 | 54.47 | 32.68 |
| Profit after tax | 104.79 | 40.58 | 24.35 |
| PAT margin | 5.44% | 2.90% | 2.37% |
| Balance sheet | |||
| Total assets | 357.18 | 217.67 | 174.64 |
| Current assets | 346.81 | 216.83 | 173.64 |
| Current liabilities | 70.17 | 45.92 | 40.64 |
| Total liabilities | 119.11 | 84.47 | 82.08 |
| Net worth | 238.07 | 133.21 | 92.55 |
| Current ratio | 4.94× | 4.72× | 4.27× |
| Return on equity | 44.02% | 30.46% | 26.31% |
| Cash flow | |||
| Operating cash flow | -14.73 | -9.86 | 4.85 |
| Investing cash flow | -4.37 | 10.26 | 5.81 |
| Financing cash flow | 19.11 | -1.5 | -9.48 |
| Net cash flow | 0.01 | -1.11 | 1.17 |
Objects of the issue
Stated use of the net proceeds— open a row for the issuer's full explanation
1 Funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory ₹215 Cr
The company proposes to utilize funds for incremental working capital requirements to support procurement of raw materials, maintenance of adequate inventory levels, and scaling up operations across southern India including establishment of sales offices and manufacturing facility.
2 General corporate purposes —
The company proposes to deploy funds towards strategic initiatives, funding growth opportunities, strengthening marketing capabilities, brand building exercises, meeting corporate contingencies and expenses incurred in ordinary course of business.
1 of 2 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
About Deepa Jewellers
Deepa Jewellers Limited is a public limited company incorporated on May 5, 2016, and subsequently converted to a public company on September 15, 2025. The company manufactures and sells gold jewelry products, with significant revenue from vaddanam (41.85% of FY2026 revenue) and CNC machine cut bangles (30.87% of FY2026 revenue). Operating primarily through a B2B model, the company serves approximately 373 customers across India, with 94.37% of revenue from operations concentrated in Southern India (Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, and Kerala). The company has experienced strong revenue growth, from ₹10,245.68 million in FY2024 to ₹19,266.76 million in FY2026. It operates with an outsourced manufacturing model using skilled artisans (karigars) and maintains hallmarking and quality standards including BIS certification. The company is establishing an in-house manufacturing facility and has opened a sales office in Vijayawada.
Management
Ashish Agarwal
CEO
Dev Agarwal
COO
Seema Agarwal
Director
Strengths
As stated in the offer document
Significant revenue contribution from Southern India
The company operates primarily in South India which has the highest market share (38-43%) in jewellery consumption. The company's revenue from South Indian states was ₹18,181.87 million (94.37%) in Fiscal 2026.
Well established customer base with long-standing relationship with jewellery retail chains and standalone stores
The company has 373 customers comprising 47 jewellery retail chains and 326 standalone stores as of July 31, 2026, with 18 customers associated since inception and established relationships with major chains.
Diverse product portfolio with varied weight ranges, designs and specialisation in vaddanam and CNC machine cut bangles
The company offers 16 products with 110 SKUs spanning weight categories from 2.50 grams to 300 grams. The company is recognized as a key processor and supplier of vaddanam and CNC machine cut bangles.
Established procurement network and long-standing relationship with karigars
The company has a network of 41 karigars with 25 associated for more than 5 years, and maintains procurement from RBI registered bullion banks, independent dealers, and international exchanges.
Well experienced Promoters and a professional management team with sectoral experience
The company's Promoters have 25 years of experience in the gem and jewellery industry since 2001, supported by an experienced management team with expertise in marketing, governance, and finance.
Robust financial performance with consistent growth
The company demonstrated consistent growth with revenue increasing from ₹10,245.68 million in Fiscal 2024 to ₹19,266.76 million in Fiscal 2026, and EBITDA margin improving from 3.49% to 7.60%.
Risk factors
As stated in the offer document
Customer Concentration Risk
The company's top 10 customers accounted for ₹12,460.30 million, ₹8,839.29 million and ₹6,901.89 million representing 64.67%, 63.27% and 67.36% of revenue from operations for Fiscal 2026, 2025 and 2024 respectively. Any decision by these key customers to reduce or terminate their business could significantly impact the company's business, financial condition and results of operations.
Product Concentration Risk
The company derives significant revenue from vaddanam (41.85% in Fiscal 2026) and CNC machine cut bangles (30.87% in Fiscal 2026). Any cancellation of purchase orders for these products or changes in consumer preferences could adversely affect the company's business, cash flows, financial condition, and overall results of operations.
Geographic Concentration Risk
A significant portion of the company's business operations and revenue generation is concentrated in Southern India, representing 94.37%, 98.33% and 99.55% of total revenue for Fiscal 2026, 2025 and 2024 respectively. This regional concentration exposes the company to economic, cultural, geopolitical and local market risks specific to this region.
Gold Price Volatility and Raw Material Procurement Risk
The company's business is significantly affected by the availability and cost of gold bullion, with prices fluctuating from ₹94,590 to ₹154,039 per 10 grams in Fiscal 2026. The non-availability or volatility in the cost of gold and absence of complete hedging facilities may have an adverse effect on the company's business, results of operations, financial condition and prospects.
Supplier Concentration Risk
The company depends on certain key suppliers for gold bullion, with top 10 suppliers accounting for 91.81%, 82.32% and 96.89% of total purchases for Fiscal 2026, 2025 and 2024 respectively. The company does not have long-term contracts with suppliers, and any failure by suppliers to perform their obligations in a timely manner may adversely affect the company's business and operations.
Inventory Management Risk
The company's inventories were ₹873.62 million, ₹827.87 million and ₹722.56 million representing 4.53%, 5.93%, and 7.05% of revenue from operations for Fiscal 2026, 2025 and 2024 respectively. The company's inability to accurately forecast demand or effectively manage inventory may have an adverse effect on business, financial condition, results of operations and cash flows.
Dependence on Third-Party Karigars
The company is dependent on third party karigars for production and manufacturing of all products, with 41 karigars as of July 31, 2026, of which formal agreements exist with only 29. Any discontinuation of services by these karigars, disruptions at their facilities, or failure to adhere to quality standards may negatively affect the company's reputation, business and financial condition.
Company Analysis
from RHPDeepa Jewellers Limited manufactures and sells gold jewelry, primarily vaddanam and CNC machine cut bangles, serving B2B customers in the gems and jewellery industry.
Deepa Jewellers Limited is a public limited company incorporated on May 5, 2016, and subsequently converted to a public company on September 15, 2025. The company manufactures and sells gold jewelry products, with significant revenue from vaddanam (41.85% of FY2026 revenue) and CNC machine cut bangles (30.87% of FY2026 revenue). Operating primarily through a B2B model, the company serves approximately 373 customers across India, with 94.37% of revenue from operations concentrated in Southern India (Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, and Kerala). The company has experienced strong revenue growth, from ₹10,245.68 million in FY2024 to ₹19,266.76 million in FY2026. It operates with an outsourced manufacturing model using skilled artisans (karigars) and maintains hallmarking and quality standards including BIS certification. The company is establishing an in-house manufacturing facility and has opened a sales office in Vijayawada.
Objects of the Issue
- Funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory by our Company p.101
- Setting up an in-house manufacturing facility p.37
- Long-term working capital requirements for procurement, maintenance and scaling up of inventory p.101
- General corporate purposes p.101
- Funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory ₹2,150.00 million p.105
- General corporate purposes [●] p.105
- Repayment of borrowings
- General corporate purposes
Issue Structure
- Total Issue
- Up to [●] Equity Shares of face value of ₹ 2 each aggregating up to ₹ [●] million
- Fresh Issue
- Up to [●] Equity Shares of face value of ₹ 2 each aggregating up to ₹2,500.00 million
- Offer for Sale
- Up to 11,848,340 Equity Shares of face value of ₹ 2 each aggregating up to ₹ [●] million
- Price Band
- Price band of a minimum price of ₹ [●] per Equity Share (Floor Price) and the maximum price of ₹ [●] per Equity Share (Cap Price)
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹ 2 each
Business Model
The company operates a B2B business model in the gems and jewellery industry, manufacturing gold jewelry products for wholesale customers. Revenue is generated from the sale of vaddanam, CNC machine cut bangles, and other gold jewelry products. The company procures gold bullion from RBI-registered bullion banks, independent bullion dealers, customer exchanges, and the India International Bullion Exchange. Manufacturing is outsourced to skilled karigars. The company maintains inventory and extends credit periods (25-45 days) to customers while receiving minimal credit from suppliers (1 day). Working capital requirements are substantial, with FY2026 working capital needs of ₹3,440.19 million. The business is supported by hedging mechanisms including gold metal loans, commodity exchange futures, and internal hedging policies.
Business Segments
SWOT Analysis
- • Significant revenue contribution from Southern India with 94.37% of FY26 revenue from high-growth southern states(p.191)
- • Well-established customer base with long-standing relationships; 18 customers since inception, 36 customers for 7+ years(p.192)
- • Specialization in vaddanam and CNC machine cut bangles with diverse product portfolio of 16 products and 110 SKUs(p.193)
- • Established procurement network with 41 karigars, 25 of whom associated for over 5 years(p.195)
- • Well-experienced promoters with 25 years in the jewellery industry since 2001(p.195)
- • Robust financial performance with revenue growing from ₹10,245.68 million in FY24 to ₹19,266.76 million in FY26(p.189)
- • Strong EBITDA margin expansion from 3.49% in FY24 to 7.60% in FY26(p.189)
- • Established hedging mechanisms reduce gold price exposure(p.214)
- • Technology-enabled operations with digital design platform for customers(p.214)
- • Strong employee base with focus on development(p.215)
- • Promoter commitment through personal guarantees and unsecured loans(p.233)
- • Established B2B position with strong customer base(p.307)
- • Diversified product portfolio with 110 SKUs across 16 products(p.307)
- • In-house team of creative designers for product development(p.307)
- • Quality control and assurance framework(p.309)
- • Established procurement network across multiple sourcing channels(p.309)
- • Strong revenue growth trajectory(p.308)
- • High customer concentration risk(p.24)
- • Dependence on vaddanam and CNC machine cut bangles(p.25)
- • High regional concentration in Southern India(p.26)
- • High supplier concentration for gold bullion(p.28)
- • High leverage and dependence on promoter guarantees(p.43)
- • Unsecured promoter loans repayable on demand(p.33)
- • Delays in statutory filings(p.40)
- • Insurance claims may not fully compensate for losses; no product liability insurance maintained(p.45)
- • Renewal of insurance policies not guaranteed at acceptable costs or timing(p.45)
- • Large inventory maintained at multiple locations exposed to fraud, theft, and employee negligence(p.45)
- • Karigars may not maintain insurance on goods held for processing(p.45)
- • Pending trademark applications for corporate logos and taglines; no protection guaranteed(p.46)
- • Unable to obtain educational records for one Director and three Senior Management personnel(p.47)
- • Significant related party transactions with Promoters; conflicts of interest in loan arrangements(p.52)
- • Registered Office and Proposed Facility leased from Promoter; no ownership assurance(p.52)
- • Erstwhile Promoter Group entities dissolved; potential residual tax liabilities and regulatory non-compliance(p.53)
- • Several Directors lack prior listed company experience(p.57)
- • Proposed Facility expansion subject to delays, cost overruns, and transition risks(p.46)
- • Dependence on outsourced karigars and potential challenges in transitioning to in-house manufacturing(p.46)
- • No product liability insurance maintained for manufactured products(p.45)
- • High customer concentration with top 10 customers accounting for 64.67% of FY26 revenue(p.209)
- • High supplier concentration with top 10 suppliers accounting for 91.81% of FY26 purchases(p.209)
- • Significant dependence on outsourced manufacturing through karigars without formal agreements with 12 of 41 karigars(p.195)
- • Proposed in-house manufacturing facility not yet operational as of report date(p.196)
- • High debt-to-equity ratio of 0.47 in FY26, indicating reliance on debt financing(p.189)
- • Heavy dependence on B2B customer concentration(p.259)
- • Significant gold hedging gap creates inventory risk(p.214)
- • Promoter-related party conflicts in property leasing(p.233)
- • Limited intangible asset protection (pending trademark applications)(p.215)
- • Dependence on third-party karigars for all manufacturing(p.311)
- • High concentration of business operations in South India(p.311)
- • Inventory hypothecated to bank(p.281)
- • High leverage from unsecured loans from promoters and directors(p.293)
- • Trade receivables concentrated among 3 largest customers(p.282)
- • Significant dependence on small number of suppliers(p.342)
- • Significant dependence on small number of customers(p.342)
- • High finance costs increasing with business growth(p.333)
- • Material indebtedness and leverage(p.337)
- • Negative operating cash flow in recent periods(p.337)
- • Growth in southern region jewellery market(p.26)
- • Expansion of in-house manufacturing facility(p.37)
- • Growth in studded jewellery segment(p.34)
- • High-volume, low-margin business model supported by scale and efficient inventory rotation(p.55)
- • Consistent historical profit growth with CAGR of 107.46% in PAT from FY2024 to FY2026(p.55)
- • Strategy to expand product portfolio and design offerings(p.57)
- • Opportunity to strengthen regional presence through new sales offices(p.57)
- • Planned investment in brand building and marketing through trade exhibitions(p.57)
- • Technology leverage for operational efficiency(p.57)
- • South Indian B2B gems and jewellery market expected to grow at CAGR of 3-5% to reach ₹3,200-3,450 billion by FY30(p.163)
- • Shift towards organized retail with jewellery retail chains market share projected to increase from 37-42% in FY26 to 45-50% by FY30(p.165)
- • Growing demand for precision CNC machine cut bangles with rising popularity in urban and Tier-2 city markets(p.170)
- • Increasing preference for minimalist jewellery and lightweight daily-wear designs in South India(p.194)
- • B2B wholesale segment experiencing significant growth with market size increasing from ₹3,030 billion in FY22 to ₹7,301 billion in FY26(p.213)
- • Expansion of organized retail chains creating demand for branded, hallmarked products from reliable B2B suppliers(p.165)
- • Vaddanam market growing with appeal among younger and fashion-sensitive consumers aged 20-45 years(p.169)
- • Expansion into new geographic markets(p.225)
- • In-house manufacturing capability development(p.225)
- • Diversification into new product lines(p.225)
- • Growing hallmarking compliance and export opportunities(p.217)
- • Expansion of in-house manufacturing facility in Hyderabad(p.309)
- • Geographic expansion through new sales office(p.309)
- • Growth in organized B2B jewellery segment(p.311)
- • Increasing preference for minimalist jewellery in South India(p.308)
- • Strong event-driven demand for jewellery(p.308)
- • Revenue growth through increased sales volume and new collections(p.333)
- • Expansion into new geographies with new sales office(p.333)
- • Growth in job-work services revenue(p.333)
- • Gold price volatility and import dependence(p.27)
- • Foreign exchange fluctuation risk(p.28)
- • Seasonal demand fluctuations(p.31)
- • Discretionary nature of jewellery purchases(p.32)
- • Intense competition in jewellery market(p.36)
- • Regulatory risks in gems and jewellery industry(p.38)
- • High-value commodity sector exposed to transit and delivery security risks including theft and loss(p.45)
- • Multiple stages in transit process create risk points for theft, damage, and mishandling(p.46)
- • Regulatory uncertainty regarding implementation of new Labour Codes effective November 21, 2025(p.59)
- • RBI regulatory changes governing Gold Metal Loans (GMLs) could affect procurement costs(p.59)
- • Changes in hallmarking norms, gold import policies, and customs duties could increase compliance costs(p.60)
- • Macroeconomic downturn in India could reduce demand for luxury gold jewellery(p.58)
- • Inflation volatility and inability to pass increased costs to customers(p.62)
- • Financial instability in other countries may cause increased volatility in Indian financial markets(p.63)
- • Natural disasters, pandemics, terrorism, and civil unrest could materially disrupt operations(p.60)
- • Competition Act restrictions on pricing and market-related activities(p.60)
- • India's physical infrastructure constraints could disrupt business operations(p.62)
- • Foreign investment restrictions and FDI Policy requirements create uncertainty(p.67)
- • Gold price volatility significantly impacts demand, affordability and margins; FY26 prices reached record highs of ₹115,996/10gm(p.178)
- • Government policy changes affecting import duty; effective May 2026, gold import duty raised from 6% to 15%(p.179)
- • Intense competition from organized chains, regional players and online jewellery retailers(p.212)
- • Changing consumer preferences shifting towards investment products like gold bars, coins and ETFs over jewellery(p.179)
- • Regulatory compliance risks including hallmarking, GST, KYC and anti-money laundering requirements(p.178)
- • Risk of consumers substituting gold with artificial/fashion jewellery and other asset classes(p.181)
- • Industry-wide working capital and inventory management challenges due to capital-intensive nature of jewellery retail(p.179)
- • Regulatory dependency on hallmarking and BIS certification(p.217)
- • Volatile gold and precious metal prices(p.218)
- • Stringent anti-money laundering and compliance requirements(p.218)
- • Consumer protection regulations and product liability exposure(p.218)
- • Significant exposure to gold price fluctuations(p.310)
- • Hedging arrangements do not provide complete coverage(p.310)
- • Intense competition from organized and unorganized players(p.310)
- • Vulnerability to South India regional risks(p.311)
- • Risk of karigar attrition and supply disruption(p.311)
- • Regulatory risks in gold procurement and imports(p.310)
- • Seasonal and cyclical business patterns(p.342)
- • Exposure to raw material price fluctuations(p.333)
- • Competitive market environment(p.341)
- • Foreign currency risk exposure(p.340)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Ashish Agarwal | Promoter / Promoter Selling Shareholder | — | — |
| Seema Agarwal | Promoter / Promoter Selling Shareholder | — | — |
| Dev Agarwal | Promoter | — | — |
| Ashish Agarwal | Promoter, Chairman and Managing Director | 48.79% | — |
| Seema Agarwal | Promoter and Non-Executive Non-Independent Director | 48.78% | — |
| Dev Agarwal | Promoter and Whole Time Director | 2.41% | — |
| Ashish Agarwal | Promoter/Promoter Selling Shareholder | 48.79% | — |
| Seema Agarwal | Promoter/Promoter Selling Shareholder | 48.78% | — |
| Dev Agarwal | Promoter | 2.41% | — |
| Ashish Agarwal | Promoter | — | — |
| Seema Agarwal | Promoter | — | — |
| Dev Agarwal | Promoter | — | — |
| Ashish Agarwal | Promoter | 48.79% | — |
| Seema Agarwal | Promoter | 48.78% | — |
| Dev Agarwal | Promoter | 2.41% | — |
| Ashish Agarwal | Promoter | — | — |
| Seema Agarwal | Promoter | — | — |
| Dev Agarwal | Promoter | — | — |
| Ashish Agarwal | Promoter Selling Shareholder | — | — |
| Seema Agarwal | Promoter Selling Shareholder | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Peer comparison
The comparable listed companies named in the offer document, as on 31 Mar 2026
| Company | EPS | NAV | P/E | P/BV | RoNW |
|---|---|---|---|---|---|
| Deepa Jewellers Ltd. THIS ISSUE | 12.78 | 29.03 | 16.24, computed at the offer price | 6.10, computed at the offer price | 56.45% |
| 13.97 | 72.02 | 57.56 | 11.15 | 23.88% | |
| 21.22 | 83.00 | 12.72 | 3.24 | 37.34% | |
| 13.55 | 70.29 | 17.02 | 3.29 | 26.29% | |
| 13.70 | 74.96 | 10.08 | 1.86 | 20.11% | |
| 36.10 | 129.14 | 22.22 | 6.22 | 32.45% |
Blank cells are figures the offer document does not publish. This issue is unlisted, so it has no market price and the document publishes no multiple for it — its P/E and P/BV here are computed at the offer price, on the post-issue share count, and are comparable to a listed peer's.