The Deepa Jewellers share price rose more than 13% on 7 October 2026, while the wider market fell after the RBI raised its policy rate by 25 basis points. According to Mint, the stock now trades about 37% above its ₹177 IPO price. The move follows the company's first quarterly results since listing.
What did the Q1 FY27 results show?
For the quarter ended June 2026, Deepa Jewellers reported the following, as per the Mint report. The year-ago figures are for Q1 FY26.
| Metric | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | ₹431.11 crore | ₹310.06 crore | +39.04% |
| EBITDA | ₹38.68 crore | ₹28.86 crore | +34.02% |
| Net profit | ₹26.76 crore | ₹21.07 crore | +27.01% |
| EBITDA margin | 8.97% | 9.31% | down 34 basis points |
Profit grew slower than revenue. Higher operating expenses pulled the margin down, so the company earned a little less on each rupee of sales.
How has the stock done since listing?
The shares listed on 8 September at ₹221 on the NSE, 24.85% above the issue price, and closed that day at ₹194.37. On the BSE they opened at ₹221.05 and closed at ₹194.30. Our grey market tracker had the final GMP at ₹25 (14.12%) on listing morning, so the actual open was higher than the grey market quote. GMP is an unofficial dealer quote, not an exchange price.
Since then, going by Mint's figure, the stock has moved to roughly 37% above the issue price. That is well ahead of the 24.86% opening gain, which ranked #25 among 98 mainboard listings this year. The median listing gain for 2026 so far is 7.04%. See how other issues compare on our IPO performance page.
What does Deepa Jewellers do?
Deepa Jewellers is a B2B designer, processor and supplier of hallmarked gold jewellery. It sells to other jewellers, not to the public, across Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. Its full-year FY26 total income was ₹1,927.73 crore, up from ₹1,400.10 crore a year earlier, according to the issue documents on our Deepa Jewellers IPO page.
A note on the IPO numbers
The issue was ₹459.72 crore, with a price band of ₹168–177 and a lot of 84 shares, so one lot cost ₹14,868 at the upper band. Our tracker shows the book closed at 233.73x, the second-highest subscription among the 99 mainboard IPOs closed this year. The Mint report describes the issue as subscribed nearly 43 times, which does not match our figure. We are using our own data for subscription.
What happens next
The anchor lock-in ended on 4 October, as we covered in our lock-in story. Read the original Mint report for the stock move and the Q1 numbers. The pre-IPO promoters, who held 100% before the issue and 72.98% after it, will have their own lock-in dates in the prospectus.
