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Deepa Jewellers shares debut above IPO price on NSE and BSE
The stock listed 25% above its ₹177 IPO price, opening at ₹221 on the NSE and ₹221.05 on the BSE.
Deepa Jewellers made a strong market debut on Tuesday, 8 September, listing at a 25% premium over its ₹177 IPO price. Shares opened at ₹221 per share on the NSE and ₹221.05 on the BSE, delivering gains to IPO allottees based on the opening levels.
Ahead of the listing, the company’s grey market premium was reported at +23.5, implying an estimated listing price of ₹200.5, which was 13.28% above the IPO price. The listing also exceeded market expectations, according to LiveMint Markets.
The IPO opened for subscription on Tuesday, 1 September, and closed on Thursday, 3 September. The offering received strong demand, with the non-institutional investors, or NIIs, reserved portion subscribed 105.96 times, while QIBs were subscribed 37 times and retail subscribed 18.55 times, using NSE data.
Deepa Jewellers’ IPO consisted of a fresh issue of equity shares worth up to ₹250 crore and an offer for sale of more than 1.18 crore shares. The fresh issue proceeds are intended mainly for long-term working capital needs tied to inventory procurement, maintenance, and expansion, plus general corporate purposes, with Emkay Global Financial Services as book-running lead manager and Bigshare Services Pvt. Ltd as registrar.