Deepa Jewellers IPO ends with 42.61x subscription, GMP signals 11.3% listing gain

Deepa Jewellers IPO concluded its third and final day of bidding on Thursday, September 3, with the issue getting booked over 42 times on Thursday. The demand for the IPO was led by non-institutional investors, while the latest grey market trend points to an 11.3% premium listing.

The Grey Market Premium (GMP) for Deepa Jewellers IPO stood at Rs 20 per share, as of 5:30 p.m. on Thursday. Based on the upper end of the price band at Rs 177, the estimated listing price is Rs 197 (upper price band + GMP), indicating an expected listing gain of 11.3% for allottees.

The company will use the net proceeds (Rs 215 crore) to fund long-term working capital requirements, specifically for procuring, maintaining, and scaling up inventory. The remaining funds will support general corporate purposes.

Incorporated in 2016, Deepa Jewellers Ltd. retails and wholesales gold and diamond jewellery, offering a wide range of traditional and contemporary designs that cater to diverse customer preferences. The company sources, designs, and sells jewellery products, including rings, necklaces, earrings, bangles, and customised ornaments crafted with quality materials and skilled workmanship.