Grover Jewells SME IPO
Grover Jewells IPO — date, price band, GMP & allotment 2026
Grover Jewells’ IPO was a small‑cap public share sale by the Delhi‑based gold jewellery maker that ran from 4 to 6 February 2026 with a price band of ₹83–₹88 per share on the NSE SME platform. The company offered about 38.44 lakh equity shares to raise around ₹33.8 crore, mainly to boost working capital and support growth. Grover Jewells designs and manufactures plain, studded and semi‑finished gold jewellery and serves wholesale and retail customers across India.
Stock price
Grover Jewells is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 13 September.
- Open 04 Feb 2026
- Close 06 Feb 2026
- Allotment 09 Feb 2026
- Refund/credit 10 Feb 2026
- Listing 11 Feb 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 4 to 6 Feb, 2026 |
|---|---|
| Price Band | ₹83 – ₹88 |
| Face Value | ₹10 |
| Lot Size | 1600 Shares |
| Issue Size | ₹34 Cr. Cr |
| Sale Type | Fresh capital only |
| Listing On | NSE SME |
| Registrar | Maashitla Securities Private Limited |
| Min Investment | ₹ 2,81,600 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 1600 shares at the ₹88 cut-off. The SME retail application is a fixed 2 lots; HNI starts at 3.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 2 | 3,200 | ₹2,81,600 |
| Retail (max) | 2 | 3,200 | ₹2,81,600 |
| HNI (min) | 3 | 4,800 | ₹4,22,400 |
Three years of numbers
All figures in ₹ crore, as reported in the Grover Jewells offer document.
| Metric | 31 Oct 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 67.51 | 29.85 | 13.91 | 11.71 |
| Total Income | 473.22 | 460.95 | 258.00 | 255.11 |
| Profit After Tax | 10.45 | 7.62 | 2.78 | 2.71 |
| EBITDA | 14.62 | 11.26 | 4.71 | 4.10 |
| NET Worth | 27.14 | 16.69 | 9.07 | 6.29 |
| Reserves and Surplus | 16.48 | 14.03 | 6.41 | 3.63 |
| Total Borrowing | 28.30 | 9.34 | 4.17 | 3.74 |
See how this IPO compares — view listing performance of all SME IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Grover Jewells RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Grover Jewells IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹12.35 |
| P/E Ratio (x) | 7.12 |
| Market Cap at Offer Price (₹ Cr) | ₹74.46 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹88 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹21.35 Cr of the issue is earmarked to named objects.
About the company
The company is primarily engaged in the design, manufacturing, and retailing of gold, diamond, and other studded jewellery. Its business model focuses on offering a wide range of products through a mix of wholesale and retail channels, ensuring consistent demand and scalability. Grover Jewells maintains a strong presence in key regional markets while also exploring expansion opportunities through partnerships and wider distribution networks.
Interested in this IPO? Check the live subscription status or browse all upcoming SME IPOs.
+91 9218012596
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Finshore Management Services Limited
4 issues handledBest listing: Sampark India Logistics (+6.0%). Weakest: Leapfrog Engineering Services (-4.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Grover Jewells?
The current Grey Market Premium is ₹0.
What is the Grover Jewells IPO price band?
₹83 to ₹88, on a face value of ₹10.
When is the allotment?
The basis of allotment is 9 February 2026, with listing on 11 February 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Maashitla Securities Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every SME and Mainboard issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
