Summary:
Deepa Jewellers IPO recorded 0.64x subscription on Day 1, with retail investors leading at 1.08x. NII demand stood at 0.43x, while QIB participation remained negligible at 0.00x. With the ₹459.72 crore IPO closing on September 3, institutional bidding will be key to the final subscription outcome.
Deepa Jewellers, the southern India-focused B2B gold jewellery designer and supplier, opened its ₹459.72 crore mainboard IPO for subscription on September 1, 2026. The issue got off to a moderate start, subscribed 0.64 times overall as of the update, led by retail demand.
IPO Details
| Detail | Information |
| Issue Size | ₹459.72 crore (fresh issue ₹250 crore + OFS ₹209.72 crore) |
| Price Band | ₹168-₹177 per share |
| Lot Size | 84 shares |
| Minimum Investment (Retail) | ₹14,868 |
| Face Value | ₹2 per share |
| IPO Open Date | September 1, 2026 |
| IPO Close Date | September 3, 2026 |
| Registrar | Bigshare Services Pvt Ltd |
| Book-Running Lead Managers | Emkay Global Financial Services, Valmiki Leela Capital |
Category-wise Breakdown on Day 1
| Category | Shares Offered/Reserved | Shares Bid For | Subscription (x) |
| Qualified Institutional Buyers (QIBs) | 51,55,438 | 5,880 | 0.00 |
| Non Institutional Investors | 40,09,394 | 17,40,480 | 0.43 |
| NII (bids above ₹10 lakh) | 26,72,930 | 6,36,300 | 0.24 |
| NII (bids ₹2-10 lakh) | 13,36,464 | 11,04,180 | 0.83 |
| Retail Individual Investors (RIIs) | 93,55,253 | 1,01,13,180 | 1.08 |
| Total | 1,85,20,085 | 1,18,59,540 | 0.64 |
Deepa Jewellers IPO - Day 1 Subscription Status
As of the update on September 1, 2026, the issue received bids for 1,18,59,540 shares against 1,85,20,085 shares on offer, taking overall subscription to 0.64 times. Retail Individual Investors were the only category to cross full subscription, at 1.08 times, while Non-Institutional Investors stood at 0.43 times and Qualified Institutional Buyers remained almost entirely untouched at 0.00 times.
What Day 1 Numbers Indicate
Retail investors crossing full subscription on Day 1 while institutional and NII bidding stayed subdued is the standard pattern for mainboard IPOs, where retail demand tends to build early while larger applicants wait for clearer signals before committing capital. Within the NII category, the ₹2-10 lakh bracket (0.83x) is running well ahead of the above-₹10-lakh bracket (0.24x), suggesting smaller HNIs are showing relatively more early interest than larger applicants. With QIBs accounting for half the issue and still barely subscribed, institutional demand, which typically surges only in the final bidding session, will be the key factor determining the overall subscription level by close on September 3.
Deepa Jewellers IPO - Timetable
| Event | Date |
| IPO Open Date | September 1, 2026 |
| IPO Close Date | September 3, 2026 |
| Allotment Finalisation | September 4, 2026 |
| Listing Date | September 8, 2026 |
| Listing Exchanges | BSE, NSE |
Should You Apply for Deepa Jewellers IPO?
Founded in 2016, Deepa Jewellers is a B2B designer, processor, and supplier of hallmarked gold jewellery with a strong presence across southern India, supplying to retail chains and standalone jewellery stores while also undertaking job work and trading of jewellery-related products. Revenue grew 37.9% year-on-year to ₹1,926.7 crore in FY26, with net profit rising sharply by 158.2% to ₹104.8 crore over the same period.
Investors considering the issue should weigh the company's strong revenue and profit growth, and its established B2B relationships across South India's jewellery retail ecosystem, against sector-specific risks such as gold price volatility, customer concentration among a wholesale-focused client base, and thin margins typical of B2B jewellery trading. As with any IPO, the decision should be based on individual risk appetite, investment horizon, and a review of the RHP rather than subscription numbers alone.
How to Apply for Deepa Jewellers IPO
Investors can apply for the Deepa Jewellers IPO through ASBA via their bank's net banking portal, via UPI-based ASBA through their stock broker's trading app, or offline by submitting a physical ASBA form through their broker. The minimum lot size is 84 shares, requiring a minimum investment of approximately ₹14,868 at the upper price band.
How to Check Deepa Jewellers IPO Subscription Status
How to check Deepa Jewellers IPO Subscription Status on NSE website
- Visit the NSE IPO issue information page (nseindia.com).
- Search for "Deepa Jewellers" or enter the symbol DEEPA.
- Select "Consolidated Bid Details" from the dropdown to view category-wise subscription data.
- The page refreshes periodically to show live bidding figures during market hours.
How to check Deepa Jewellers IPO Subscription Status on BSE website
- Visit the BSE IPO page (bseindia.com).
- Navigate to the "Active IPO" or "IPO Bidding" section.
- Select "Deepa Jewellers Limited" from the list of active issues.
- View category-wise and overall subscription figures, updated through the bidding window.
How to check Deepa Jewellers IPO Subscription Status on Ventura?
Ventura clients can track real-time subscription status for the Deepa Jewellers IPO directly within the IPO section of the Ventura app or web platform, alongside category-wise bid data and allotment updates, without needing to switch between exchange websites.
IPO Subscription History
Previous Day Subscription
Since this is the opening day of bidding, there is no previous-day subscription data available. Day 1 figures serve as the baseline for tracking momentum over the remaining two days of the issue.
Conclusion
Deepa Jewellers' IPO opened with solid retail interest but muted institutional participation, closing the first update at 0.64 times overall subscription. With bidding open until September 3 and QIBs, who account for half the issue, still barely subscribed, a strong last-day institutional push will be needed for the offering to see meaningful overall demand by close.
