Deepa Jewellers IPO listing date tomorrow: GMP at ₹23.5; check subscription, allotment

Deepa Jewellers IPO listing: Shares of Deepa Jewellers are slated to list in the Indian stock market tomorrow (Tuesday, 8 September).

Deepa Jewellers IPO allotment was finalised on Friday, 4 September. Those who have been allocated shares can expect them to be credited to their demat accounts today, Monday, 7 September. Those who have not yet received their shares can also expect to receive the refund today.

The organised B2B designer, processor and supplier of hallmarked gold jewellery launched its IPO for subscription from Tuesday, 1 September, to Thursday, 3 September. By the conclusion of the bidding period, the offering received a healthy response, particularly from non-institutional investors (NIIs) who subscribed to their portion 105.96 times. Qualified institutional buyers (QIBs) quota was booked 37 times.

Retail investors' segment showed a subscription rate of 18.55 times. Notably, on the third day of the offer, Deepa Jewellers IPO subscription status stood at 43 times, as per NSE data.

Deepa Jewellers IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIBs), not less than 15% for non-institutional Investors (NIIs), and not less than 35%for retail investors.

Deepa Jewellers IPO price band was fixed at ₹168 to ₹177 per equity share, with a face value of ₹2. Investors could apply for the mainboard IPO in lot sizes of 84 equity shares and in multiples of 84 equity shares thereafter.

Deepa Jewellers IPO GMP today

Ahead of the listing, Deepa Jewellers IPO GMP signals a strong debut.

Deepa Jewellers IPO GMP today is +23.5. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Deepa Jewellers share was ₹200.5 apiece, which is 13.28% higher than the IPO price of ₹177.

Based on grey market trends observed over the past 13 sessions, the current GMP is ₹23.5, indicating a negative outlook. Throughout this timeframe, the GMP fluctuated between a minimum of ₹0.00 and a maximum of ₹55, as per experts' analysis.

Deepa Jewellers IPO details

Deepa Jewellers IPO had a price band of ₹168-177 per equity share and comprised a fresh issue of shares worth up to ₹250 crore along with an offer for sale (OFS) of more than 1.18 crore shares.

At the upper end of the price band, the company’s post-issue implied market capitalisation is estimated at around ₹1,700 crore.

The company plans to use the proceeds from the fresh issue to meet its long-term working capital requirements, including procurement, maintenance and expansion of inventory. A portion of the funds will also be allocated towards general corporate purposes.

Emkay Global Financial Services is the book-running lead manager for the issue, while Bigshare Services Pvt. Ltd is the registrar.

Incorporated in 2016, Deepa Jewellers is an organised B2B designer, processor and supplier of hallmarked gold jewellery. The company has a presence across Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala.

It offers a diverse range of jewellery products, with design, processing and sales supported by an outsourced manufacturing model and a network of skilled artisans, or karigars.

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