Deepa Jewellers has filed preliminary papers with SEBI to raise funds through an Initial Public Offering (IPO). The Hyderabad-based company’s proposed IPO will comprise a fresh issue of shares worth Rs 250 crore, along with an offer for sale of 11,848,340 shares by the promoters, the DRHP showed.
Incorporated in 2016 and promoted by Ashish Agarwal and Seema Agarwal, the company is an organised B2B designer, processor, and supplier of hallmarked gold jewellery, primarily with operations in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu, and Kerala.
Proceeds from its fresh issuance worth Rs 215 crore will be utilised for funding long-term working capital requirements, including procurement, maintenance, and scaling up of inventory, as well as general corporate purposes.
Deepa Jewellers’ business
The company designs, processes and sells a wide range of jewellery, operating through an outsourced manufacturing model, supported by a network of 40 karigars. The company had a product portfolio of 14 products and 76 SKUs across its product categories.
As of November 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 a team of creative designers, the company has established long-standing relationships 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, with a 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.
IPO market in 2025
In 2025, the IPO-bound companies raised a record-breaking Rs 1.76 lakh crore, driven by abundant domestic liquidity, resilient investor confidence, and supportive macroeconomic factors.
A major highlight of the year was the resurgence of startup listings with as many as 18 startups, including Lenskart, Groww, Meesho and PhysicsWallah, going public and collectively raising over Rs 41,000 crore. In 2024, startups raised Rs 29,000 crore from the primary market.
This exceptional year not only reflected issuers’ confidence but also highlighted investors’ eagerness to chase listing-day gains and back companies with strong long-term growth potential.
