Indian jewellery retailers launch major IPOs

Multiple Indian jewellery companies are pursuing initial public offerings (IPOs) to fund expansion and working capital.

Deepa Jewellers Limited has announced its maiden IPO, scheduled to open on September 1, 2026, and close on September 3, 2026. The company has set a price band of Rs 168 to Rs 177 per equity share. The offering includes a fresh issue of up to Rs 2,500 million, intended to fund long-term working capital for inventory procurement and scaling, alongside an offer-for-sale by promoter selling shareholders Ashish Agarwal and Seema Agarwal.

Separately, Chennai-based Lalithaa Jewellery Mart Limited has raised ₹1,700 crore through an IPO consisting of a fresh issue and an offer for sale. Advised by JSA, the retailer plans to allocate ₹1,014.5 crore of the proceeds toward expanding its store network across India. Lalithaa Jewellery currently operates 56 stores across five states and Union Territories and reported a revenue of ₹16,788 crore in FY24.