Telangana-based hallmarked gold jewellery processor and supplier Deepa Jewellers has filed preliminary papers with Securities and Exchange Board of India (SEBI) to raise funds via Initial Public Offering (IPO) for long term working capital.
The company has planned to mop up Rs 250 crore by issuing fresh shares, while promoters Ashish Agarwal and his wife will be selling up to 1.18 crore equity shares via offer-for-sale.
Deepa Jewellers, a B2B designer, processor and supplier of hallmarked gold jewellery with operations in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala intends to utilise Rs 215 crore of fresh issue proceeds for its long-term working capital requirements towards procurement, maintenance and scaling up of inventory. And the remaining funds will be used for general corporate purposes.
The company operates the business of processing 22 karat gold jewellery, job-work services and trading of jewellery and related products.
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Deepa Jewellers, which has presence in southern market and long-standing relationship with jewellery retail chains and standalone stores, has reported profit of Rs 40.6 crore for the year ended March 2025, growing 66.7 percent compared to Rs 24.3 crore in previous year. Revenue in the same period increased 36.3 percent to Rs 1,397 crore, up from Rs 1,024.6 crore.
Profit for six months period ended September 2025 stood at Rs 48.6 crore on topline of Rs 812.1 crore.
Emkay Global Financial Services, and Valmiki Leela Capital are appointed as the book running lead managers for the Deepa Jewellers IPO.
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