Deepa Jewellers IPO

The Deepa Jewellers IPO is the company’s first milestone, starting from the submission of the Draft Red Herring Prospectus (DRHP) on December 29, 2025. The public issue of the company is a 100% book built issue. It consists of a fresh issue of equity shares worth ₹250 crore and an offer for sale of 1.18 crore shares.

The equity shares are proposed to be listed on the NSE and BSE.

The book running lead manager of the issue is Emkay Global Financial Services Ltd. and Valmiki Leela Capital, whereas the registrar of the issue is Bigshare Services Pvt. Ltd. The important details regarding the IPO dates, IPO price bands, and lot size are yet to be announced. The Deepa Jewellers IPO is proposed to be listed on both the BSE and NSE platforms.

Company Background

Deepa Jewellers Ltd. started in the city of Hyderabad on May 5, 2016, where the firm has established itself with prominence in the B2B designer and wholesaler in the trade of jewelry. The firm has extensive experience over many years and has developed quality designs that have built a reputation among its retail partners.

Until now, the company has been focusing its efforts on consolidating its position in the competitive landscape of the industry. However, with the Deepa Jewellers IPO, the company is planning to shift from being a regional industry player to a corporate entity with coverage in southern India.

Operations & Product Range

Deepa Jewellers is engaged in a niche B2B business, majorly serving the retail chains and individual stores in the Telangana and Andhra Pradesh regions of South India. The company adopts the outsourced manufacturing business model, leveraging the expertise of skilled craftsmen, thus concentrating on 22k gold jewelry. The broad product portfolio includes vaddanams, CNC machine-cut bangles, gundlamala haaram, and mangtika.

Revenue Streams and Business Model

Deepa Jewellers operates a B2B business model, functioning as a prominent supplier to some of the larger retail chains such as Joyalukkas and Kalyan Jewellers in South India.

Instead of selling to individual customers, they focus on designing and processing jewelry through a cost-effective outsourced network of skilled artisans.

The company earns its primary revenue from the sale of 22k gold jewelry, specializing in traditional items like vaddanams and CNC-cut bangles.

Moreover, the group also derives substantial revenue from job work and processing jobs for other jewelers and trading gold bullion and precious stones to more than 315 different clients.

Management & Shareholding

Promoters & Shareholding

In Deepa Jewellers Limited, the promoters include Ashish Agarwal, Seema Agarwal, and Dev Agarwal. Although their rich experience in the jewelry sector has been mentioned in the DRHP, details regarding their educational backgrounds have not been required to be specified in the snippets. Before the issue of this IPO, all the promoters in this organization possessed a combined 99.56% stake in this business. After this issue has been completed through a fresh issue and sale by Ashish & Seema Agarwal, their combined shareholding percentage will have to be reduced to incorporate public shareholders.

Board & Key Management

Deepa Jewellers IPO is being handled by a management team that has vast experience in the gems and jewelry sector. The list of Executive Board Members begins with Ashish Agarwal (Chairman and Managing Director) and Dev Agarwal (Whole-time Director).

The independent directors include Komal Agarwal, Sirisha Chintapalli, and Grandhi Vittal. They play a pivotal role in a variety of board committees, like the Audit Committee and Risk Management Committee in particular and thus enable the capital market investors in the Deepa Jewellers IPO to get good coverage of accountability and corporate governance practices in place.

This leadership team is assisted by a range of key employees, like Srinivas Kamoji Gunupudi (Chief Financial Officer) and Vandana Modani (Company Secretary and Compliance Officer).