Hyderabad, Dec 30 (.) Hyderabad-based Deepa Jewellers, an organised B2B gold jewellery processor and supplier, has filed its Draft Red Herring Prospectus (DRHP) with market regulator SEBI to raise funds through an Initial Public Offering (IPO).
The proposed IPO comprises a fresh issue of shares aggregating up to ₹250 crore and an offer for sale of up to 1.18 crore shares by promoters Ashish Agarwal and Seema Agarwal.
The shares carry a face value of ₹2 each and will be listed on the BSE and NSE.
A significant portion of the fresh issue ₹215 crore will be utilised towards long-term working capital requirements, primarily to support procurement, maintenance, and scaling up of gold jewellery inventory.
The remaining proceeds will be deployed for general corporate purposes, reflecting the company’s focus on sustaining growth amid rising demand from organised jewellery retailers.
Founded in 2016, Deepa Jewellers operates as a B2B designer, processor and supplier of hallmarked 22-karat gold jewellery, with a strong presence across Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala.
According to a CRISIL report, the company is among the key processors and suppliers of vaddanam and CNC machine-cut bangles in southern India.
The company follows an outsourced manufacturing model, supported by a network of around 40 karigars, enabling asset-light operations and design scalability.
As of November 30, 2025, the company offered 14 product categories and 76 SKUs.
Deepa Jewellers has built a diversified customer base of 315 clients across 13 states and one union territory, comprising 43 jewellery retail chains and 272 standalone stores.
Its key customers include leading organised players such as Joyalukkas India, Kalyan Jewellers India and Lalithaa Jewellery Mart, underscoring its growing relevance in the formal jewellery supply chain.
The company’s revenue from operations stood at ₹1,397 crore in FY25, up from ₹921 crore in FY23, while net profit increased to ₹40.5 crore from ₹22 crore during the same period.
For the six months ended September 30, 2025, revenue was ₹812 crore with a net profit of ₹48.6 crore.
The IPO will be undertaken through the book-building route, with up to 50% reserved for Qualified Institutional Buyers, at least 15% for Non-Institutional Investors, and a minimum of 35% for Retail Individual Investors.
Emkay Global Financial Services and Valmiki Leela Capital are the book-running lead managers to the issue, while Bigshare Services is acting as the registrar.
. KNR CDS