Deepa Jewellers IPO opens Sept 1 at ₹168-177 per share, raising ₹460 crore. Proceeds fund working capital. Listing on BSE and NSE on Sept 8.
Alpha Score of 42 reflects weak overall profile with weak momentum, poor value, weak quality, weak sentiment.
Deepa Jewellers Ltd fixed a price band of ₹168-177 per share for its ₹460 crore initial public offering, which opens for subscription on September 1 and closes on September 3. Anchor investors can bid on August 31, the company said in a public announcement.
The IPO combines a fresh issue of equity shares worth up to ₹250 crore with an offer for sale of over 1.18 crore shares. At the upper end of the price band, the total issue size reaches about ₹460 crore. The post-issue implied market capitalisation is estimated at roughly ₹1,700 crore.
Proceeds from the fresh issuance will fund long-term working capital requirements, primarily for procurement and scaling up of inventory, as well as general corporate purposes.
Incorporated in 2016, Deepa Jewellers is an organised B2B designer, processor and supplier of hallmarked gold jewellery. Its operations are concentrated in five southern states: Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. The company designs and sells a wide range of jewellery through an outsourced manufacturing model supported by a network of karigars.
Under the issue structure, 50% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors. Emkay Global Financial Services and Valmiki Leela Capital are the book-running lead managers. Bigshare Services is the registrar.
The equity shares are proposed to list on the BSE and NSE on September 8.
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