Deepa Jewellers Sets IPO Price At ₹168-177

Deepa Jewellers Ltd has fixed a price band of ₹168-177 per share for its upcoming Initial Public Offering (IPO). The public issue will open for subscription on September 1 and close on September 3.

The IPO comprises a fresh issue of equity shares aggregating up to ₹250 crore and an offer for sale of over 1.18 crore equity shares. At the upper end of the price band, the issue size will be around ₹460 crore.

The company plans to utilise the proceeds from its fresh issuance for funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory, and general corporate purposes.

Deepa Jewellers is an organised B2B designer, processor and supplier of hallmarked gold jewellery, primarily operating in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. The company designs, processes and sells a wide range of jewellery, operating through an outsourced manufacturing model, supported by a network of karigars.

Under the issue structure, 50 per cent of the offer has been reserved for Qualified Institutional Buyers (QIBs), 15 per cent for non-institutional investors and 35 per cent for retail investors.

The equity shares are proposed to be listed on both the BSE and NSE on September 8. Emkay Global Financial Services and Valmiki Leela Capital are the book-running lead managers, while Bigshare Services is the registrar to the issue.

Bidding by anchor investors will take place on August 31, according to a public announcement. The post-issue implied market capitalisation is estimated at around ₹1,700 crore at the higher end.

This IPO is a significant development for Deepa Jewellers, as it looks to expand its operations and increase its market presence. The company's decision to go public is expected to provide a boost to its growth plans.

The IPO market has seen a significant surge in recent times, with several companies looking to raise funds through public issues. Deepa Jewellers' IPO is expected to generate significant interest among investors, given the company's strong track record and growth prospects.

In conclusion, Deepa Jewellers' IPO is a notable event in the Indian capital markets, and its success is likely to have a positive impact on the company's future growth and expansion plans.