Deepa Jewellers IPO Draws 87% of Bids on Its First Day

The Share Sale

Deepa Jewellers has opened a public share sale worth Rs 459.72 crore, with shares priced in a band of Rs 168 to Rs 177 each. The Economic Times reports that the offer was 87% subscribed on the first day of bidding and moved into its second day with total demand approaching 90% of the shares on offer.

An initial public offering, or IPO, is the first time a private company sells shares to outside investors. Bidders place orders within the price band, and the final price is fixed once the book closes.

The sources do not say when bidding closes, when shares will be allotted, or when the stock is due to list.

The Grey Market Premium

The Economic Times puts the grey market premium, commonly shortened to GMP, at 25%. That is an unofficial, off exchange indication of what buyers are willing to pay above the issue price before trading formally begins.

The publication describes the figure as pointing to strong investor sentiment. It is not a regulated price, and the sources do not report a rupee value for the premium or the source of the quote.

Financials and Analyst View

The Economic Times says the company recorded robust growth in the 2026 financial year, with profit rising 158%. It does not give the underlying profit figure, revenue, or the comparison year in the material available.

Analysts cited by the publication point to what they call an attractive valuation, the company's expansion plans, and favourable prospects for the jewellery market. The sources do not name those analysts, and they do not carry any dissenting view or a summary of the risks set out in the offer document.

No details are available in the sources on how the money raised will be used, on the split between fresh shares and shares sold by existing owners, or on how much of the demand came from retail investors as opposed to institutions.

A Gap in the Record

A second page that carries the headline "Deepa Jewellers IPO Subscription Status" on the website IPO Watch does not, in the text available, discuss Deepa Jewellers at all.

Its body describes Q-Line Biotech Ltd, a diagnostics company that makes reagents and supplies laboratory equipment, and a separate book building offer of 6,253,200 equity shares of Rs 10 each aiming to raise Rs 214.48 crore. That material relates to a different company and should not be read as information about Deepa Jewellers.

Category wise subscription numbers for the Deepa Jewellers offer are therefore not established by the sources beyond the day one and day two totals reported by The Economic Times.