Home / Business and Economy / Deepa Jewellers IPO: Rs 459 Cr Opens Sept 1!
Deepa Jewellers IPO: Rs 459 Cr Opens Sept 1!
1 Sep
Summary
- IPO opens September 1, aiming to raise ₹459.72 crore.
- Price band set at ₹168-₹177 per share, lot size 84.
- Grey market premium suggests potential 26% listing gain.
The initial public offering (IPO) of Deepa Jewellers commenced on September 1, seeking to raise ₹459.72 crore. The issue comprises a fresh issue of shares and an offer for sale (OFS). The price band for the IPO has been established at ₹168 to ₹177 per equity share.
The total size of the IPO is ₹459.72 crore, including a fresh issue of 1.41 crore shares and an OFS of 1.18 crore shares. The proceeds from the fresh issue will be allocated towards funding long-term working capital requirements, including inventory management and expansion, as well as for general corporate purposes.
The IPO lot size is fixed at 84 shares, requiring a minimum investment of ₹14,868 for retail investors. Qualified institutional buyers (QIBs) are allocated up to 50% of the net offer, with at least 15% for non-institutional investors (NIIs) and at least 35% for retail investors.
According to market sources, the grey market premium (GMP) for the Deepa Jewellers IPO was ₹46, suggesting a potential listing gain of approximately 26% over the upper price band of ₹177. The IPO is expected to list on both the NSE and BSE on September 8. Deepa Jewellers, established in 2016, is involved in the retail and wholesale trading of gold and diamond jewellery.
