Deepa Jewelers files IPO papers with Sebi; aims to raise Rs 250 cr through fresh issue

Deepa Jewelers has filed preliminary papers with market regulator Sebi to raise money through an Initial Public Offer (IPO).The proposed IPO of the Hyderabad-based company will be a combination of a fresh issue of shares worth Rs 250 crore along with an offer for sale of 11,848,340 shares by promoters – Ashish Agarwal and Seema Agarwal, according to the Draft Red Herring Prospectus (DRHP) filed on Monday.

Proceeds from the fresh issue worth Rs 215 crore will be used to fund long-term working capital requirements for acquisition, maintenance and scale-up of inventory by the company, and for general corporate purposes.Founded in 2016, the company is an organized B2B designer, processor and supplier of branded gold jewelery with operations primarily 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 40 karigars.

As of November 30, 2025, the company had a product portfolio of 14 products and 76 SKUs across its product categories.

As of November 30, 2025, its customer network extends across 13 states and 1 union territory with a total customer base of 315 customers comprising 43 chain jewelry stores and 272 standalone stores. With a diverse product portfolio and a team of creative designers, the company has a long-standing relationship with jewelry retail chains and standalone stores including Joyalukkas India, Kalyan Jewelers India and Lalithaa Jewelery Mart.

On the financial front, the company’s operating revenue stood at Rs 1,397 crore during FY25 and net profit at Rs 40.5 crore.

Emkay Global Financial Services and Valmiki Leela Capital are the lead managers of the book, and Bigshare Services is the registrar of the issue.