The Deepa Jewellers anchor lock-in ends on 4 October 2026 for half the shares its anchor investors bought. That is about 38.96 lakh shares, roughly 15 per cent of everything the company sold in its September IPO. The stock last traded at ₹191.80 on 2 October, 8.36 per cent above the ₹177 issue price.
Anchor investors are the large institutions that buy a day before an IPO opens to the public. Their shares come with a lock-in: 50 per cent for 30 days from the allotment date and the rest for 90 days, under SEBI's rules for the anchor portion. Deepa Jewellers allotted shares on 4 September 2026, so the 30 day clock runs out on 4 October.
That date is a Sunday. The first session in which these shares can actually change hands is Monday, 5 October.
What comes free to trade on 4 October
The full anchor book sits on the Deepa Jewellers IPO page. These are the numbers that matter this week.
| Item | Figure |
|---|---|
| Shares allotted to anchor investors | 77,91,789 |
| Amount anchors paid | ₹137.93 crore |
| Share of the total issue | 30.02 per cent |
| Number of anchor investors | 15 |
| Price anchors paid | ₹177 a share |
| Free to trade from 4 October 2026 | about 38.96 lakh shares |
| Locked in until 3 December 2026 | the other half |
| Last traded price, 2 October 2026 | ₹191.80 |
Who bought in the anchor book
One name took a quarter of the whole anchor allocation on its own. These five put in the most money.
| Anchor investor | Shares | Share of issue | Amount |
|---|---|---|---|
| Motilal Oswal Finvest | 20,31,464 | 7.82 per cent | ₹35.96 crore |
| Unifi Flexi Cap Fund | 5,64,984 | 2.18 per cent | ₹10.00 crore |
| Tata India Consumer Fund | 5,39,952 | 2.08 per cent | ₹9.56 crore |
| WhiteOak Capital Equity Fund | 5,08,273 | 1.96 per cent | ₹9.00 crore |
| 360 ONE Equity Opportunity Fund-Series II | 5,08,274 | 1.96 per cent | ₹9.00 crore |
Ashoka India Equity Investment Trust and High Conviction Fund-Series I also put in ₹9 crore each. Tata Dividend Yield Fund, Girik Multicap Growth Equity Fund-III, CP Capital, Maybank Securities, Citigroup Global Markets Mauritius, Nomura Singapore, Alchemy Long Term Ventures Fund-Series III and LRSD Securities made up the rest of the book.
Where the stock stands against every earlier number
Deepa Jewellers listed on 8 September 2026 at ₹221 on the NSE, 24.86 per cent above the ₹177 issue price. It has given up ground since. At ₹191.80 it is 13.21 per cent below that listing price and 8.36 per cent above the issue price.
So the two groups are sitting in different places. The anchors whose shares open up on 4 October paid ₹177 and are in profit. Anyone who bought at the ₹221 open is not.
The grey market read the listing too low. Our tracker showed a premium of ₹25, or 14.12 per cent, on listing morning, which pointed to an open near ₹202. The shares opened ₹19 higher than that. GMP is an unofficial dealer quote and not an exchange price, which is why we timestamp every reading.
Demand in the book was heavy. The ₹459.72 crore issue was subscribed 233.73 times overall: 724.56 times by QIBs, the institutional category, 105.78 times in the non-institutional category and 18.08 times by retail investors. Within the non-institutional half, big applications came in at 123.94 times and small ones at 69.46 times. You can see how that result compares with other 2026 issues on our mainboard listing performance table.
What a lock-in expiry actually means
It means those shares can now be sold. It does not mean they will be. Mutual funds disclose their holdings every month, so the October filings will show which of these schemes stayed on. Lock-in dates are set by the rules and are known from the day of allotment, so they are not a surprise to the market.
What happens next
The other half of the anchor allocation stays locked until 3 December 2026, 90 days after the 4 September allotment. The same calendar is running for other recent issues, and we covered the ESDS Software lock-in that ended on 2 October. Deepa Jewellers' issue papers, including the anchor allocation note, are in the RHP filed with SEBI.
