Deepa Jewellers secures 138 crore rupee anchor book ahead of 460 crore IPO
Deepa Jewellers has secured 138 crore rupees from domestic and international institutional investors, signaling strong market appetite for its asset-light jewellery model ahead of its 460 crore rupee public listing.
Deepa Jewellers has raised 138 crore rupees from anchor investors ahead of its upcoming initial public offering. The company allotted 77.92 lakh equity shares at the upper end of the price band, priced at 177 rupees per share. This allocation was confirmed in a regulatory circular filed with the Bombay Stock Exchange.
The anchor round attracted a mix of domestic and global institutional players. Domestic participants included Motilal Oswal Finvest, WhiteOak Capital Mutual Fund, Tata Mutual Fund, CP Capital Ltd, and LRSD Securities. International interest was demonstrated by Maybank Securities Pte Ltd, Citi Group Global Markets Mauritius, and Nomura Singapore.
The broader public issue is sized at 460 crore rupees and is scheduled to open for subscription on September 1, closing on September 3. The offering consists of a fresh issue of equity shares worth up to 250 crore rupees. Additionally, it includes an offer-for-sale of over 1.18 crore shares by existing stakeholders.
Investors are likely evaluating the company’s asset-light operational structure. Deepa Jewellers designs, processes, and sells a wide range of jewellery products. Rather than maintaining heavy in-house production facilities, the business relies on an outsourced manufacturing model supported by an extensive network of independent karigars.
This institutional backing provides a crucial valuation reference for market participants evaluating the 168 to 177 rupee price band. Strong anchor participation typically reduces listing volatility and signals confidence in the issuer’s financial trajectory. For the broader Indian primary market, it reflects sustained institutional appetite for consumer discretionary assets with scalable, low-capital-expenditure models.
The company’s equity shares are scheduled to be listed on both the Bombay Stock Exchange and the National Stock Exchange on September 8. Market participants will now monitor the retail and non-institutional subscription levels to gauge overall demand ahead of the listing date.
