Deepa Jewellers launched its initial public offering (IPO) on September 1, aiming to raise ₹250 crore. The IPO, priced between ₹168 and ₹177 per share, is scheduled to close on September 3. Market indications suggest a potential listing price around ₹221, hinting at a 25% gain on listing day, according to livemint.com.
The IPO subscription process began on Tuesday, with allocations divided among various investor categories. The price band was set to attract a broad range of investors, and the company has positioned the offering to capitalize on strong market demand. The grey market premium (GMP) signals investor confidence, reflecting expectations of a positive market debut.
This IPO comes at a time when the jewellery sector is witnessing renewed investor interest, with several companies tapping public markets to fund expansion. Deepa Jewellers' offering is notable for its pricing strategy and the anticipated listing gain, which stands out compared to recent jewellery IPOs. The ₹250 crore target aligns with the company's growth plans amid a competitive retail jewellery landscape.
The IPO closes on September 3, after which subscription details and final allotment will be announced. Investors and market participants will closely watch the listing day performance to gauge investor appetite and market sentiment for jewellery sector IPOs.