Deepa Jewellers IPO allotment likely today: GMP signals 11% listing gain. Here’s how to check status

Investors who subscribed to the Deepa Jewellers IPO may receive the much-awaited allotment update today. With the issue witnessing an overall subscription of 42.61 times, investors are now waiting for the basis of allotment while keeping an eye on the company’s upcoming stock-market debut.

The Rs 459.72-crore Deepa Jewellers IPO is expected to finalise its share allotment today. Once the allotment is completed, investors will be able to check online whether they have received shares. The company is scheduled to list on both the BSE and NSE on September 8, 2026.

Investor interest has also been fuelled by the IPO’s grey market premium (GMP), which is currently around 11%. The premium indicates expectations of a potentially strong listing gain. However, GMP is an unofficial indicator and can fluctuate before the shares are listed.


The IPO opened for subscription on September 1, 2026, and closed on September 3, 2026. It was subscribed 42.61 times overall. The retail investor portion was subscribed 18.55 times, while the non-institutional investor (NII) category saw 105.96 times subscription. Qualified institutional buyers (QIBs) subscribed 37.01 times their reserved portion.

The issue was priced in the range of Rs 168 to Rs 177 per equity share and raised Rs 459.72 crore through a combination of a fresh issue and an offer for sale (OFS). Of the total issue size, Rs 250 crore was raised through the fresh issue, while Rs 209.72 crore came through an OFS involving 1.18 crore shares.

Investors could bid for a minimum of 84 equity shares, with subsequent bids required to be placed in multiples of 84 shares. At the upper end of the price band, the minimum investment stood at Rs 14,868, excluding applicable charges.

From a valuation perspective, the IPO’s price-to-earnings (P/E) multiple, based on diluted FY26 earnings, stands at 13.15 times at the floor price and 13.85 times at the upper price band.

This is significantly below the FY26 industry peer average P/E of 23.92 times, indicating that Deepa Jewellers is being offered at a relatively lower valuation compared with its industry peers.

Emkay Global Financial Services Ltd. is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd. is acting as the registrar to the issue.

Deepa Jewellers IPO GMP Today

The Deepa Jewellers IPO GMP is currently reported at Rs 20 per share, representing an 11% premium over the IPO’s upper price band of Rs 177 per share. At the prevailing GMP, the estimated listing price is around Rs 197 per share.

The Grey Market Premium (GMP) is an unofficial indicator of market sentiment and is not regulated or guaranteed. GMP values can fluctuate rapidly based on market conditions, investor sentiment, and demand. Therefore, the actual listing price may differ significantly from the price indicated by the GMP.

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds primarily to strengthen its working capital position. Of the total proceeds, Rs 215 crore is proposed to be allocated towards the procurement, maintenance and expansion of inventory, supporting the Company’s long-term growth and operational requirements.

The balance proceeds will be utilised for general corporate purposes, providing the Company with enhanced financial flexibility to pursue its strategic initiatives and meet its business requirements.

Financial Performance

Deepa Jewellers Ltd. reported a strong financial performance in FY26, with total income increasing 38% to Rs 1,927.73 crore from Rs 1,400.10 crore in FY25. The growth reflects a significant expansion in the Company’s overall business during the year.

Profitability improved at a considerably faster pace, with PAT rising 158% to Rs 104.79 crore from Rs 40.58 crore in FY25. The sharp increase in earnings underscores the Company’s improved profitability and stronger financial performance in FY26.

About Deepa Jewellers

Established in 2016, Deepa Jewellers Ltd. operates across the retail and wholesale jewellery segments, offering a wide range of gold and diamond jewellery in both traditional and contemporary designs. Its product portfolio includes bangles, necklaces, earrings, rings, waist belts, armlets, kadas and other customised ornaments.

The Company places emphasis on product purity, transparent pricing and customer trust, supported by its network of physical stores and distribution channels. As of July 31, 2026, its customer network spanned 13 states and 1 Union Territory and comprised 373 customers, including 47 jewellery retail chains and 326 standalone stores.

Deepa Jewellers offers 16 product categories across 110 SKUs. It also leverages its mobile application, Deepa Jewellers Limited, to showcase its jewellery collections and strengthen customer engagement and market reach.

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