IPO Listed — 08 Sep 2026
Listing Price: ₹221
Deepa Jewellers IPO GMP History | Listing Price ₹221 & Kostak Rate
Deepa Jewellers IPO has been listed on September 8, 2026 at a listing price of ₹221, against the issue price of ₹177 — a gain of ₹44 (+24.86%). The GMP peaked at ₹55 on 31 August 2026 and reached a low of ₹18 on 3 September 2026. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Deepa Jewellers IPO raised ₹459.72 Cr. through its IPO at a price band of ₹168 to ₹177 per share, with a lot size of 84 shares. The IPO was open for subscription from 01 Sep 2026 to 03 Sep 2026.
GMP Trend Chart
Day-wise GMP Trend
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 08 Sep 2026 | ₹ 25 | 14.12% | ₹ 0 | ₹ 0 | |
| 07 Sep 2026 | ₹ 25 | 14.12% | ₹ 0 | ₹ 0 | |
| 06 Sep 2026 | ₹ 21.5 | 12.15% | ₹ 0 | ₹ 0 | |
| 05 Sep 2026 | ₹ 19 | 10.73% | ₹ 0 | ₹ 0 | |
| 04 Sep 2026 | ₹ 19 | 10.73% | ₹ 0 | ₹ 0 | |
| 03 Sep 2026 | ₹ 18 | 10.17% | ₹ 0 | ₹ 0 | |
| 02 Sep 2026 | ₹ 28 | 15.82% | ₹ 0 | ₹ 0 | |
| 01 Sep 2026 | ₹ 44 | 24.86% | ₹ 0 | ₹ 0 | |
| 31 Aug 2026 | ₹ 55 | 31.07% | ₹ 0 | ₹ 0 | |
| 30 Aug 2026 | ₹ 45 | 25.42% | ₹ 0 | ₹ 0 | |
| 29 Aug 2026 | ₹ 53 | 29.94% | ₹ 0 | ₹ 0 | |
| 28 Aug 2026 | ₹ 47 | 26.55% | ₹ 0 | ₹ 0 | |
| 27 Aug 2026 | ₹ 47 | 26.55% | ₹ 0 | ₹ 0 |
Deepa Jewellers IPO Dates
| Event | Date |
|---|---|
| Open Date | 01 Sep, 2026 |
| Close Date | 03 Sep, 2026 |
| Allotment Date | 04 Sep, 2026 |
| Refund Date | 07 Sep, 2026 |
| Credit to Demat | 07 Sep, 2026 |
| Listing Date | 08 Sep, 2026 |
Deepa Jewellers IPO Actual Listing Price
| Basis | Value |
|---|---|
| Issue Price | ₹177 |
| GMP-Based Estimate (Pre-Listing) | ₹202 (+14.1%) |
| Actual Listing Price | ₹221 (+24.86%) |
| Listing Gain / Loss | +₹44 per share |
| Listing Date | 08 Sep, 2026 |
Is Deepa Jewellers IPO GMP Reliable?
Grey market premium for Deepa Jewellers IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- Cross-check before acting: Review the Deepa Jewellers IPO full review for a fundamentals-based assessment before making any grey market trades.
Deepa Jewellers IPO IPO Kostak Rate Explained
The Kostak rate for Deepa Jewellers IPO was not active during the subscription period, as no grey market premium was established. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not active for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Deepa Jewellers IPO
Its product range covers vaddanam, which is a waist belt, CNC machine cut bangles, gents kada, vanky or armlet, dandpatti also called bajuband, gundlamala haaram and necklace, kangan, earrings, mangtika or forehead pendant, maatil which is an ear chain, champasaralu which is an ear to hair chain, jada or braid ornament, and rings. As on 31 July 2026 it had 16 products and 110 SKUs across these categories.
The company sells mainly to other jewellers rather than to the public. As on 31 July 2026 its customer network covered 13 states and one union territory with 373 customers, made up of 47 jewellery retail chains and 326 standalone stores. It is strongest in the southern market and specialises in vaddanam and CNC machine cut bangles. It also uses a mobile application under its own name, commissioned in June 2021, to show high resolution images of its designs to customers who are far away.
Strengths & Risks
Strengths
- ✓ Profit has grown more than four times in two years, from Rs 24.35 crore in FY2024 to Rs 40.58 crore in FY2025 and Rs 104.79 crore in FY2026.
- ✓ Sales have almost doubled over the same period, from Rs 1,025.73 crore in FY2024 to Rs 1,400.10 crore in FY2025 and Rs 1,927.73 crore in FY2026.
- ✓ EBITDA rose sharply from Rs 35.77 crore in FY2024 to Rs 56.01 crore in FY2025 and Rs 146.34 crore in FY2026.
- ✓ Return ratios are the highest among the current mainboard issues, with RoCE of 52.08% and RoNW of 56.45%.
- ✓ Net worth grew from Rs 92.55 crore in FY2024 to Rs 238.07 crore in FY2026.
- ✓ The customer base is wide and spread out, with 373 customers made up of 47 jewellery retail chains and 326 standalone stores across 13 states and one union territory.
- ✓ It has a specialisation in vaddanam and CNC machine cut bangles, which are not made well by every supplier.
- ✓ Rs 215 crore of the fresh money goes into building up inventory, which in this trade directly supports higher sales.
Risks
- ⚠ The profit margin is thin at 5.44%. In gold jewellery the metal itself is most of the sale value, so a small movement in cost or price changes the profit sharply.
- ⚠ The P/E and EPS are not stated in the data available to us, so the issue cannot be compared with jewellery peers on earnings from here.
- ⚠ The growth is very fast for a young company. It was started only in 2016 and profit has gone up more than four times in two years, which is difficult to keep up.
- ⚠ Borrowing rose from Rs 80.79 crore in FY2025 to Rs 111.11 crore in FY2026.
- ⚠ The entire Rs 215 crore of fresh money goes into inventory, that is gold stock, and not into any fixed asset or new capacity.
- ⚠ This is a fresh issue combined with an offer for sale, so a part of the money goes to the selling shareholders and not to the company.
- ⚠ The business is concentrated in the southern market, so any slowdown or added competition in that region affects most of the sales.
- ⚠ Selling to jewellery chains and stores means the buyers decide order size and payment terms, and gold price swings affect how much they stock.
- ⚠ Promoter holding will come down from 100% to 72.98% after the issue.
Frequently Asked Questions about Deepa Jewellers IPO
What is the GMP of Deepa Jewellers IPO?
The current Grey Market Premium (GMP) of Deepa Jewellers IPO is ₹ 25.
What is the Kostak Price of Deepa Jewellers IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Deepa Jewellers IPO is currently not available.
What is the Subject to Sauda Price of Deepa Jewellers IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is currently not available.
What was the actual listing price of Deepa Jewellers IPO?
Deepa Jewellers IPO listed on September 8, 2026 at ₹221, against the issue price of ₹177 — a gain of +24.86%.
How did the GMP of Deepa Jewellers IPO trend before listing?
The GMP of Deepa Jewellers IPO was stable in its final days before listing. The GMP peaked at ₹55 on 31 August 2026. View the day-wise table above for the complete GMP history.
Explore Deepa Jewellers IPO Further
For a complete picture before making your investment decision, explore these resources:
