Deepa Jewellers IPO Day 1 Subscription Status: 0.35x Subscribed; GMP at ₹55
Deepa Jewellers’ Initial Public Offering (IPO) was subscribed 0.35 times as of the afternoon on Day 1 (2:00 p.m. to 3:30 p.m. IST on 1 September 2026), with retail investors leading at 0.60 times. Non-Institutional Investors (NIIs) were at 0.22 times, while Qualified Institutional Buyers (QIBs) had seen negligible participation so far. The Grey Market Premium (GMP) was around ₹55, and bidding remains open until 3 September 2026.
| Metric | Latest update |
| Bidding day | Day 1 |
| Data status | Afternoon (2:00 p.m. to 3:30 p.m. IST) on 1 September 2026 |
| Overall subscription | 0.35x |
| QIB subscription | 0.00x |
| NII subscription | 0.22x |
| Retail subscription | 0.60x |
| Current GMP | ₹55 |
| GMP percentage | 31.1% |
| Indicative price | ₹232 |
| Closing date | 3 September 2026 |
Deepa Jewellers IPO Day 1 Subscription Status
Retail Individual Investors (RIIs) were the most active category in Deepa Jewellers IPO on the opening day, bidding for about 0.60 times the shares reserved for them. NII demand stood at 0.22 times.
Institutional bidding remained minimal, with the QIB category effectively at 0.00 times at the latest verified reading. Institutional participation often develops later in an IPO’s bidding window, but the Day 1 figures alone do not indicate whether that will happen here.
| Investor category | Day 1 subscription |
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investors | 0.22x |
| Retail Individual Investors | 0.60x |
| Overall | 0.35x |
Subscription multiples measure the quantity of shares bid for relative to shares available in each category. They should not be interpreted as the number of unique investors who have applied.
What the Day 1 Subscription Numbers Indicate So Far
The opening response is currently retail-led rather than broad-based. Retail demand at 0.60 times is ahead of the NII category, while QIB participation remains negligible.
The overall 0.35-times figure also means the issue was not fully subscribed at the latest Day 1 reading. However, an intraday Day 1 multiple is only an interim snapshot. The more useful signals from here will be whether NII and QIB participation develops and whether retail bidding continues to build through Day 2.
Deepa Jewellers IPO GMP Today and Estimated Listing Price
Deepa Jewellers IPO’s latest Grey Market Premium was around ₹55 per share on 1 September 2026. The reading was broadly unchanged from the previous available ₹55 quote.
With the upper end of the IPO price band at ₹177, the current GMP implies:
Indicative price = ₹177 + ₹55 = ₹232 per share
GMP percentage = ₹55 ÷ ₹177 × 100 = about 31.1%
| GMP observation | GMP | Movement |
| 1 September 2026 | ₹55 | Unchanged |
| Previous available reading | ₹55 | No change |
The GMP is an unofficial and unregulated market indicator. It is not published by the Securities and Exchange Board of India (SEBI), National Stock Exchange of India (NSE), or BSE Limited (BSE), and it can change quickly. The ₹232 figure is therefore indicative, not a guaranteed listing price or return.
What Stands Out in Today’s Bidding
Two signals stand out so far. First, retail participation is ahead of the other investor categories, with its reserved portion subscribed 0.60 times. Second, the ₹55 GMP remains materially above the upper price band, even though the overall IPO was only 0.35 times subscribed at the latest reading.
That difference is worth treating carefully. Subscription data and GMP measure different things, and they do not have to move together.
There are also clear limitations. Day 1 data is incomplete because two bidding days remain, and high GMP by itself does not establish fair valuation, business quality, or eventual listing performance.
IPO Details Retail Investors Need
| IPO detail | Information |
| Price band | ₹168 to ₹177 per share |
| Lot size | 84 shares |
| Minimum retail investment | ₹14,868 at ₹177 |
| Total issue size | ₹459.72 crore |
| Fresh issue | ₹250 crore |
| Offer for Sale (OFS) | ₹209.72 crore |
| Issue type | Book-built mainboard IPO |
| Closing date | 3 September 2026 |
| Expected listing date | 8 September 2026 |
| Exchange | BSE and NSE |
The fresh issue accounts for ₹250 crore of the offer, while the balance is an Offer for Sale (OFS) by existing shareholders.
Brief Company and Financial Context
Deepa Jewellers is a business-to-business supplier of hallmarked gold jewellery, primarily serving jewellery retail chains and standalone stores. It specialises in products such as vaddanam and CNC machine-cut bangles and has a substantial business concentration in Southern India.
Revenue from operations rose to ₹1,926.68 crore in FY2026 from ₹1,397.01 crore in FY2025, while profit after tax increased to ₹104.79 crore from ₹40.58 crore. The company plans to use ₹215 crore of fresh proceeds for long-term working-capital requirements, mainly inventory. A material risk is customer concentration, with its top 10 customers contributing about 64.7% of FY2026 revenue from operations.
What Happens Next
Deepa Jewellers IPO bidding continues on Day 2, 2 September 2026, before closing on 3 September. Investors tracking the subscription trend can watch whether overall demand accelerates, whether QIB participation begins to build, how NII bidding develops, whether retail demand remains the leading category, and whether the ₹55 GMP moves from its current level.
Frequently Asked Questions (FAQs)
Q: How many times is Deepa Jewellers IPO subscribed on Day 1?
A: Deepa Jewellers IPO was subscribed about 0.35 times overall as of afternoon (2:00 p.m. to 3:30 p.m. IST) on 1 September 2026. Retail investors led at 0.60 times, while NII demand stood at 0.22 times and QIB participation remained negligible.
Q: What is the Deepa Jewellers IPO GMP today?
A: The latest available Deepa Jewellers IPO GMP is around ₹55 per share on 1 September 2026. GMP is an unofficial grey-market indicator and can change before listing.
Q: What listing price does the current Deepa Jewellers IPO GMP indicate?
A: At a ₹55 GMP and the ₹177 upper price band, the indicative price works out to ₹232 per share. This is a simple price-band-plus-GMP calculation, not a guaranteed or forecast listing price.
Q: Is the Deepa Jewellers IPO Day 1 subscription figure final?
A: No. Day 1 figures are interim because bidding remains open through 3 September 2026. Subscription levels can change significantly during Day 2 and the closing day as additional retail, NII, and institutional bids are placed.
Q: Does high IPO subscription or GMP guarantee a premium listing?
A: No. Subscription multiples show demand relative to shares available, while GMP is an unofficial market signal. Neither establishes fair valuation, business quality, or guarantees that shares will list above the issue price.
Disclaimer
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