IPO Guru
Listed Mainboard

Deepa Jewellers IPO Review

Deepa Jewellers IPO has been reviewed by 14 analysts, and the overall consensus is Strong Apply — carrying a score of 89. Out of the 14 analysts who have covered this IPO, 10 recommend subscribing while 4 advise caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹168-177 per share, with a minimum application size of 84 shares (minimum investment of approximately ₹14,868 at the upper band). Subscription ran from 01 Sep 2026 to 03 Sep 2026. The issue size is ₹460 crore, a mix of fresh issue and offer for sale. As of now, the grey market premium (GMP) for Deepa Jewellers IPO is quoting at ₹25 (14.12%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
89/ 100
Strong Apply 10 of 14 recommend subscribing
How analysts voted
Apply 10
May apply 2
Neutral 2
Not rated 1

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Deepa Jewellers is a B2B designer and supplier of traditional gold ornaments to national retail chains including Joyalukkas, Kalyan Jewellers and TBZ. FY26 income was ₹1,927.73 crore, up from ₹1,400.10 crore, with profit of about ₹105 crore. Two of the three analysts covering it said subscribe and one advised caution.

Listing gains

The notes value the issue between about 13.9 and 16 times FY26 earnings, on a market cap near ₹1,701 crore, against a peer average of 24 times. Analysts point to that discount as leaving room for a valuation re-rating, which supported a positive listing view.

Short-term strategy

The working capital cycle of just 53 days is the standout number in the notes, better than listed peers, which matters in a business that ties up gold inventory. Fresh money funds long-term working capital for procurement and scaling. Revenue grew about 38 percent in FY26.

Long-term strategy

The long-term case rests on entrenched relationships with large retail chains that buy repeatedly. The offsetting risks the notes flag are concentration on both sides: the top ten customers give 65 percent of FY26 revenue with no long-term contracts, and two product lines give 73 percent.

How this is written: an AI-assisted summary of the 15 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Deepa Jewellers IPO?

The analyst consensus for Deepa Jewellers IPO tracked on this page is Strong Apply, with a score of 89/100. Out of 14 analysts who have reviewed this IPO, 10 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 89 mean for Deepa Jewellers IPO?

The score of 89 is an aggregate of all analyst ratings tracked for Deepa Jewellers IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

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% (₹44 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Deepa Jewellers IPO?

Deepa Jewellers IPO was priced at ₹168-177 per share. The minimum lot size is 84 shares, making the minimum investment approximately ₹14,868 at the upper end of the price band. Subscription ran from 01 Sep 2026 to 03 Sep 2026.

Explore Deepa Jewellers IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Deepa Jewellers IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

Join the WhatsApp channel Full IPO details

Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Strong Apply
Score
89 / 100
Listed at
₹221
Full IPO details