Deepa Jewellers Set to Shine with Rs 250 Crore IPO

Deepa Jewellers, a Hyderabad-based gold jewellery company, has filed with Sebi to launch a Rs 250 crore IPO. The funds will help expand operations and inventory. The IPO combines fresh shares and promoter offers for sale. The company has significant operations across south India with a strong revenue track.

Deepa Jewellers, a Hyderabad-based firm, has taken the initial steps towards making its mark on the public market by filing preliminary papers with financial watchdog Sebi for an Initial Public Offering (IPO). Slated to raise Rs 250 crore, this move aims to bolster the company's operational capabilities and inventory management.

The proposed IPO is set to be a blend of newly issued shares worth Rs 250 crore and shares offered by promoters Ashish Agarwal and Seema Agarwal. As per the Draft Red Herring Prospectus (DRHP) submitted, Rs 215 crore of the raised funds is earmarked for the company's long-term working capital needs, specifically in procurement, maintenance, and scaling of inventory, alongside general corporate purposes.

Rooted in 2016, Deepa Jewellers specializes as a B2B designer, processor, and supplier of hallmarked gold jewellery, predominantly operating through a network of 40 craftsmen across five Indian states. Their broad product range and established partnerships with retail giants like Joyalukkas India ensure a diversified market presence.

(With inputs from agencies.)