Grover Jewells Limited IPO

Grover Jewells Limited IPO

SME NSE SME 100% Book Built Offer
Closed

Price Band

₹83 - ₹88

Total Issue

₹33.83 Cr

Bid Dates

04 Feb - 06 Feb

Subscription

19.25x

Est. GMP

₹0 (0.00%)

Website RHP Check Allotment

Tentative Timetable

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

Grover Jewells is engaged in the design and manufacture of a wide range of wholesale gold jewellery, offering finely crafted products that include gold chains, bangles, rings, necklaces and complete jewellery sets. The Company’s designs cater to diverse customer preferences and evolving market trends. While its primary focus remains on the business-to-business (B2B) segment, Grover Jewells is undertaking strategic initiatives to strengthen its presence in the business-to-consumer (B2C) segment and enhance revenue diversification. In addition, the Company operates a job-work segment, wherein small and independent jewellers provide gold and design specifications, which are then converted into finished jewellery products by Grover Jewells, leveraging its manufacturing expertise and craftsmanship.

Lot Info

Lot Information for Grover Jewells IPO
Category Lots Shares Amount
Individual (Min) 2 3,200 ₹2,81,600
Individual (Max) 2 3,200 ₹2,81,600
S-HNI (Min) 3 4,800 ₹4,22,400
S-HNI (Max) 7 11,200 ₹9,85,600
B-HNI (Min) 8 12,800 ₹11,26,400
Market Maker
1,93,600 EQ. Shares
Employee
₹0.00
Shareholder
₹0.00

Issue Size

Total ₹33.83 Cr
Fresh Issue
₹33.83 Cr (0.38 Cr Shares)
Offer For Sale
₹0.00 (0.00 Shares)

Objects of the Issue

A1

₹B1 Cr

A2

₹B2 Cr

A3

₹B3 Cr

Grey Market Premium

GMP ₹0
Est. Price ₹88
Est. Gain 0.00%

Grover Jewells IPO Peer Comparison

(Rs. in crores)

Grover Jewells IPO Peer Comparison Table
Particulars Grover Jewells Shanti Gold Retaggio Industries RBZ Jewellers Utssav CZ Gold
Revenue 460.80 1,106.41 23.49 530.15 646.32
PAT 7.62 55.70 2.43 38.86 25.06
EPS (₹) 7.15 10.34 2.60 9.70 11.63
NAV (₹) 15.66 21.13 13.51 61.26 53.23
RONW 45.67% 36.56% 11.57% 15.86% 19.76%
EBITDA 2.44% 8.28% 17.20% 12.13% 6.03%
PAT Mrgn 1.65% 5.03% 10.36% 7.33% 3.88%
PE Ratio 1.41 20.71 9.08 14.18 19.01
Debt to Equity 0.56 1.60 0.56 0.35 1.03

All information pertains to FY 2024-25. PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of December 23, 2026 for Peers

Financial Performance

(Rs. in crores)

Financial Performance Metrics for Grover Jewells IPO
Particulars Sep-25 Mar-25 Mar-24 Mar-23
Revenue 473.19 460.80 257.91 255.10
PAT 10.45 7.62 2.78 2.71
Net Worth 27.14 16.69 9.07 6.29
Borrowings 28.30 9.34 4.17 3.74
Assets 67.51 29.85 13.91 11.71
NAV (₹) 25.45 15.66 8.51 5.90
EPS (₹) 9.80 62.62 34.03 23.60

KPIs

EBITDA

2.44%

PAT

1.65%

RONW

45.67%

ROCE

45.00%

Debt to Equity

0.56

PE Ratio

1.41

PB Ratio

5.62

Mkt Cap (in Crs.)

127.66

  • All the data pertains to FY 2024-25.
  • PE, PB, and market capitalization are calculated based on the Upper Price Band.

Shareholding

Promoter

100.00%

Public

0.00%

Deepak Grover 99.79%
Others 0.21%

Management

Deepak Grover MD
Sunny Grover CEO
Abhishek Malhotra CFO

Registrar & Lead Managers

Registrar

Maashitla Securities

Maashitla Securities

Lead Managers (1)

Finshore Management Finshore Management

Subscription Status

Updated as on 06-Feb-2026 19:00:17 hrs

Category Sub (x) Offered Bids
QIB 11.32x 7,29,600 82,56,000
NII 37.57x 5,48,800 2,06,16,000
bHNI 44.63x 3,64,800 1,62,81,600
sHNI 23.56x 1,84,000 43,34,400
Individual Investor 15.76x 12,78,400 2,01,47,200
Total 19.17x 25,56,800 4,90,19,200

Frequently Asked Questions

What is Grover Jewells IPO?
Grover Jewells IPO is a SME IPO having an issue size of ₹33.83 Crs. Grover Jewells IPO is priced at ₹83 - ₹88 per share. The issue opens on 04 Feb 26 and closes on 06 Feb 26.
When will Grover Jewells IPO open?
Grover Jewells IPO opens on 04 Feb 26 and closes on 06 Feb 26.
What is the GMP of Grover Jewells IPO?
The estimated Grey Market Premium of Grover Jewells IPO is ₹0 per share (0.00%).
What is the lot size of Grover Jewells IPO?
The minimum lot size of Grover Jewells IPO is 1600 shares & the minimum application amount is Rs. 140800.
When is the allotment of Grover Jewells IPO?
The allotment date of Grover Jewells IPO is 09 Feb 26.
What is the listing date of Grover Jewells IPO?
The listing date of Grover Jewells IPO is 11 Feb 26.
What is the subscription of Grover Jewells IPO?
Grover Jewells IPO is subscribed 19.25 times.
What is the price band of Grover Jewells IPO?
Grover Jewells IPO is priced at ₹83 - ₹88 per share.
How to check allotment status of Grover Jewells IPO?
Click the allotment link on Grover Jewells IPO page of IPO360.
How to apply Grover Jewells IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply Grover Jewells IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply Grover Jewells IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Grover Jewells IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date