Deepa Jewellers Limited
Hyderabad-based B2B jewellery company focused on designing and wholesaling traditional and machine-crafted gold jewellery to regional retailers and leading jewellery chains.
“Deepa Jewellers Limited: momentum beats fundamentals — a trader's IPO, not an investor's.”
- ▸Strong demand 42.61x
- ▸QIB 37x — smart money in
- ▸Anchors took 42.1% — confident
- ▸37% revenue CAGR — real growth
- ▸Profit not converting to cash — biggest red flag
- ▸5 forensic red flags in DRHP footnotes
- ⚠ High customer concentration, with the top 10 contributing 64.67% of revenue.
- ⚠ Heavy regional reliance on Southern India exposes the business to local risks.
- ⚠ Complete dependence on third-party karigars creates supply and quality risks.
- ⚠ Significant supplier concentration, with the top 10 providing 91.81% of purchases.
- ⚠ History of negative operating cash flows in Fiscal 2025 and 2026.
Educational only. Not investment advice. GMP is unofficial chatter, never a promise.
Demand — who is actually bidding?
Live from NSE's official bid feed. QIB is smart money — if QIB sleeps past Day 2, listing pop usually dies.
Issue structure — where does money go?
- ▸Fresh Issue ₹250 crore
- ▸Offer for Sale up to 1.18 crore shares
- Promoter 99% → 72.98% after IPO
Deep financials — does profit become cash?
FIGURES VIA PRESS REPORTS — RESTATED FILING PENDING · ROE/DE LAND WITH THE RHP PARSE
| FY | REVENUE | PAT | MARGIN | ROE | ROCE | D/E | CFO |
|---|---|---|---|---|---|---|---|
| FY24 | ₹1025.73 Cr | ₹24.35 Cr | 2.4% | 56.45% | 52.08% | 0.47x | ₹4.8 Cr |
| FY25 | ₹1397.01 Cr | ₹40.58 Cr | 2.9% | — | — | — | ₹-9.9 Cr |
| FY26 | ₹1926.68 Cr | ₹104.79 Cr | 5.4% | — | — | — | ₹-14.7 Cr |
Valuation vs listed peers
| COMPANY | P/E | P/B | ROE |
|---|---|---|---|
| Deepa Jewellers Limited (IPO) | — | — | 5.4% margin |
| Peer | — | — | — |
Read it as: peers show what the market already pays for this business model. Full P/E math lands with the RHP parse (needs outstanding share count).
Risk dossier
- 01High customer concentration, with the top 10 contributing 64.67% of revenue.
- 02Heavy regional reliance on Southern India exposes the business to local risks.
- 03Complete dependence on third-party karigars creates supply and quality risks.
- 04Significant supplier concentration, with the top 10 providing 91.81% of purchases.
- 05History of negative operating cash flows in Fiscal 2025 and 2026.
Street tape
Documents & filings
Primary sources — the same PDFs our dossier numbers come from.
Questions investors ask about Deepa Jewellers Limited
Should I apply for the Deepa Jewellers Limited IPO for listing gains?
Momentum supports it: QIB 37x, total 42.61x. Consider one lot and booking half on a pop.
Is Deepa Jewellers Limited good for the long term?
Not yet — wait for cheaper re-entry or cleaner quarters.
What is the Deepa Jewellers Limited IPO price band and lot size?
₹168–₹177, lot of 84 shares (min ₹14,868). Open 1 Sept 2026 to 3 Sept 2026.
How do I check Deepa Jewellers Limited IPO allotment status?
On the Registrar of Companies, Telangana at Hyderabad portal: select Deepa Jewellers Limited, enter PAN, application number, or DP/Client ID, solve the captcha. Results go live 6–10 PM on allotment evening (issue closed 3 Sept 2026). BSE's application-status page works as fallback.
When is the Deepa Jewellers Limited listing date?
It listed at ₹221 (24.9%).
Who should apply?
- • Listing trader → yes, momentum is real
- • Long-term holder → wait for cheaper re-entry
- • First-time investor → learn by watching, not betting
Listing-day playbook
- • Opens +40%↑ → book half, keep rest at cost stop
- • Opens flat ±5% → hold only if long-term score ≥7
- • Opens discount → never average down Day 1