Deepa Jewellers Files IPO Papers With SEBI; Aims To Raise Rs 250 Crore Via Fresh Issue

Deepa Jewellers has filed preliminary papers with markets regulator SEBI to raise funds through an Initial Public Offering (IPO).

The Hyderabad-based company's proposed IPO will be a combination of a fresh issue of shares worth Rs 250 crore along with an offer for sale of 11,848,340 shares by promoters — Ashish Agarwal and Seema Agarwal, according to the Draft Red Herring Prospectus (DRHP) filed on Monday.

Proceeds from its fresh issuance worth Rs 215 crore will be utilised for funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory by the company, and general corporate purposes.

Incorporated in 2016, the company is an organised B2B designer, processor and supplier of hallmarked gold jewellery, primarily having operations in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala.

The company designs, processes and sells a wide range of jewellery, operating through an outsourced manufacturing model, supported by a network of 40 karigars.

As on Nov. 30, 2025, the company had a product portfolio of 14 products and 76 SKUs across its product categories.

As of Nov. 30, 2025, its customer network spans across 13 states and 1 union territory with a total customer base of 315 customers, comprising 43 jewellery retail chains and 272 standalone stores.

With a diverse product portfolio and team of creative designers, the company has a long-standing relationship with jewellery retail chains and standalone stores including, Joyalukkas India, Kalyan Jewellers India, and Lalithaa Jewellery Mart.

On the financial front, the company's revenue from operations stood at Rs 1,397 crore during FY25 and net profit of Rs 40.5 crore.

Emkay Global Financial Services and Valmiki Leela Capital are the book running lead managers, and Bigshare Services is the registrar to the issue.