Deepa Jewellers has received final approval from the Securities and Exchange Board of India (SEBI) for its initial public offering. The Hyderabad-based jewellery company had filed its draft IPO papers with SEBI on December 29, 2025. The proposed IPO comprises a fresh issue of shares worth up to Rs 250 crore along with an offer for sale of up to 11,848,340 equity shares by promoters Ashish Agarwal and Seema Agarwal.
Incorporated in 2016, the company operates as a B2B designer, processor and supplier of hallmarked gold jewellery with a strong presence across Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. According to a CRISIL report, the company is among the key processors and suppliers of vaddanam and CNC machine cut bangles catering to jewellery retail chains and standalone jewellery stores.
The company is engaged in processing 22 karat gold jewellery, offering job work services and trading jewellery related products. Its portfolio includes hallmarked plain gold jewellery and precious stone studded ornaments developed through an outsourced manufacturing model supported by a network of 40 karigars.
Its product range includes traditional and regional jewellery categories such as vaddanam, CNC machine cut bangles, gents kada, vanki, dandpatti, gundlamala haaram, necklaces, kangan, earrings, mangtika, maatil, champasaralu, jada ornaments and rings. Alongside jewellery processing, the company also undertakes job work assignments where raw materials provided by customers are converted into finished jewellery products.
The company is additionally involved in trading silver ornaments, 18 and 20 karat gold ornaments, precious stones and gold bullion as part of its broader jewellery business operations. As of November 30, 2025, Deepa Jewellers had a portfolio comprising 14 product categories and 76 stock keeping units. Its customer network included 315 customers spread across 13 states and one union territory, consisting of 43 jewellery retail chains and 272 standalone jewellery stores.
