Upcoming IPO: Hyderabad-based Deepa Jewelers has filed its draft red herring prospectus with the capital market regulator Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) to raise funds.
Deepa Jewelers IPO is a mix of fresh share sale of up to 250 crore and an offer for sale of 11.84 million shares by the promoters of the company. Ashish Agarwal and Seema Agarwal are the promoter selling shareholders of the company.
The company plans to use the fresh funds raised for funding long-term working capital needs towards procurement, maintenance and scaling up of inventory, along with general corporate purposes.
The IPO, being made through the book-building process, will reserve up to 50% of the offer for qualified institutional buyers (QIBs), not less than 15% for non-institutional investors (NIIs) and at least 35% for retail investors.
About Deepa Jewelers
As per the DRHP, Deepa Jewelers is an organized B2B designer, processor and supplier of hallmarked gold jewellery, primarily having operations in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala.
The company primarily operates in 22 karat gold jewelery processing, job-work, and trading. It also designs, processes, and sells hallmarked plain gold and precious stone-studded jewellery.
Its products primarily include vaddanam (waist belt), CNC machine-cut bangles, gents kada, vanky (armlet), dandpatti (bajuband), gundlamala haaram (traditional neck piece), gundlamala necklace, kangan, earring, mangtika (forehead pendant), maatil (ear chain), champasaralu (ear to hair chain), jada (braid ornament), and rings.
As of November 30, 2025, its customer network spans across 13 states and a union territory in India with a total customer base of 315 customers, comprising 43 jewelery retail chains and 272 standalone stores.
Joyalukkas India, Kalyan Jewellers, Lalithaa Jewelery Mart, Chandana Brothers Textiles & Jewelers Private, Manoj Vaibhav Gems ‘N’ Jewellers, and Tribhovandas Bhimji Zaveri Limited are some of the jewelery players with which it has established long-standing relations.
Its revenue from operations was 1,397 crore during FY25 as against 921 crore during FY23. Meanwhile, the net profit rose to 40.5 crore during FY25 from 22 crore during FY23.
Emkay Global Financial Services and Valmiki Leela Capital are the book-running lead managers, and Bigshare Services Private Limited is the registrar to the issue. The shares of Deepa Jewelers are proposed to be listed on the BSE and NSE.
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