Grover Jewells IPO Details
| Detail | Description |
|---|---|
| IPO Date | 4 to 6 Feb, 2026 |
| Listing Date | Wed, Feb 11, 2026 |
| Face Value | ₹ 10 per share |
| Issue Price Band | ₹ 83 to ₹ 88 |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 38,44,800 shares (agg. up to ₹ 34 Cr) |
| Reserved for Market Maker | 1,93,600 shares (agg. up to ₹ 2 Cr) Anant Securities |
| Fresh Issue(Ex Market Maker) | - |
| Offer for Sale | - |
| Net Offered to Public | 36,51,200 shares (agg. up to ₹ 32 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,06,62,400 shares |
| Share Holding Post Issue | 1,45,07,200 shares |
About Grover Jewells IPO
Grover Jewells IPO is a book-built issue of ₹33.83 crore, entirely a fresh issue of 0.38 shares. The IPO opens for subscription from Feb 4, 2026, to Feb 6, 2026, on NSE SME with a tentative listing date of Feb 11, 2026. The price band is ₹83 to ₹88 per share, with a lot size of 1,600 shares. The minimum investment required by a retail investor is ₹281,600 (3,200 shares).
Company Background
Grover Jewells Ltd. was incorporated in 2021 as a manufacturing and designing company specializing in wholesale gold jewellery. Its diversified portfolio includes plain, studded, and semi-finished jewellery in 22K, 20K, and 18K. Non-hallmark jewellery is also offered through showrooms in Karol Bagh and Chandni Chowk, Delhi. Within a few years, Grover Jewells has established a strong market network, serving both domestic and international markets.
Operations and Product Range
Facility and Production
The company operates from its two showrooms in Karol Bagh and Chandni Chowk. It functions across two segments—machine-made chain manufacturing and casting jewellery production—and divides its sales into wholesale, retail, and consumer divisions. The headquarters is in Delhi, with exports across 20 Indian states and international markets.
Brands and Market Presence
Grover Jewells Ltd. has a strong brand presence, primarily through B2B exports. Its products reach domestic markets (over 20 states) and international markets such as Australia and the UAE. By FY25, the company employed 68 individuals and built a robust network in India.
Revenue Channels
- • Income from jewellery sales
- • Revenue from customized designs
- • Revenue from international exports
- • Fees from B2B exports
Management and Shareholding
Promoters and Shareholding
Grover Jewells Ltd. is promoted by the Grover family, who bring decades of industry experience. The promoters hold a majority stake, reflecting a strong commitment to long-term growth. Public and non-promoter shareholding provides additional market participation and liquidity.
Board Members
The board consists of promoters, executive directors, and independent directors with expertise in jewellery manufacturing, finance, and corporate governance. The board ensures strategic decision-making, regulatory compliance, and sustainable business growth.
Grover Jewells IPO Objectives
- • Funding working capital requirements to strengthen operational activities
- • General corporate purposes
Conclusion
The Grover Jewells IPO offers investors a chance to invest in a growing company with a strong PAN-India brand presence and international market reach. The IPO proceeds will fund working capital and general corporate expenses, supporting the company’s operational growth and market expansion.
Grover Jewells IPO Financial Information
Latest Revenue
473.22
₹ Crore
Profit After Tax
10.45
₹ Crore
Net Worth
27.14
₹ Crore
Total Borrowing
28.30
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Oct 2025 | 67.51 | 473.22 | 10.45 | 27.14 | 16.48 | 28.30 | |||
| 31 Mar 2025 | 29.85 | 460.95 | 7.62 | 16.69 | 14.03 | 9.34 | |||
| 31 Mar 2024 | 13.91 | 258.00 | 2.78 | 9.07 | 6.41 | 4.17 | |||
| 31 Mar 2023 | 11.71 | 255.11 | 2.71 | 6.29 | 3.63 | 3.74 | |||
| Amount in ₹ Crore | |||||||||
Grover Jewells Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 45% |
| ROCE | - |
| Debt/Equity | 0.56x |
| RoNW | 45.67% |
| PAT Margin | 1.65% |
| EBITDA Margin | 2.44% |
| Price to Book Value | 5.62 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.15 | 12.35 |
| P/E (x) | 12.31 | 7.12 |
Frequently Asked Questions
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Competitive Strengths
Strong network in the market
Approx 20 states network of B2B and International connections with customers
Wider reach of customers and a strong connection with consumers.
Diversified product portfolio in the designs and manufacturing
Download regulatory filings
Grover Jewells IPO Timeline
| IPO Open Date | Wed, Feb 4, 2026 |
| IPO Close Date | Fri, Feb 6, 2026 |
| Tentative Allotment | Mon, Feb 9, 2026 |
| Initiation of Refunds | Tue, Feb 10, 2026 |
| Credit of Shares to Demat | Tue, Feb 10, 2026 |
| Tentative Listing Date | Wed, Feb 11, 2026 |
| Cut-off time for UPI mandate confirmation | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,81,600 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,81,600 |
| S-HNI (Min) | 3 | 4,800 | ₹4,22,400 |
| S-HNI (Max) | 7 | 11,200 | ₹9,85,600 |
| B-HNI (Min) | 8 | 12,800 | ₹11,26,400 |