Grover Jewells IPO
Grover Jewells IPO is a book building SME issue of Rs. 33.83 crore, comprising an entirely fresh issue of 0.38 crore equity shares.
The IPO opens on February 4, 2026, and closes on February 6, 2026. The allotment is expected on February 9, 2026, and the listing is tentatively scheduled for February 11, 2026 on NSE SME.
The IPO is offered in a price band of Rs. 83 to Rs. 88 per share, and the lot size is 1,600 shares.
The minimum investment for retail investors is Rs. 2,81,600 (3,200 shares), and for HNI investors, Rs. 4,22,400 (4,800 shares).
Lead Manager: Finshore Management Services Ltd.
Registrar: Maashitla Securities Pvt. Ltd.
Market Maker: Anant Securities
🕗 Last Update: 31 January 2026, 6.00 AM
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IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | February 4, 2026 |
| IPO Close Date | February 6, 2026 |
| Allotment Date | February 9, 2026 |
| Refunds Initiation | February 10, 2026 |
| Credit to Demat | February 10, 2026 |
| Listing Date | February 11, 2026 |
Final Subscription Status
| Size | QIB | NII x | RII x | Total x | Applications |
|---|---|---|---|---|---|
| Rs. 33.83 Crore (Closes 6 February 2026) | — | — | — | — | — |
IPO Details
| Particulars | Details |
|---|---|
| Face Value | Rs. 10 per share |
| Price Band | Rs. 83 to Rs. 88 |
| Lot Size | 1,600 shares |
| Sale Type | Fresh Issue |
| Total Issue Size | 38,44,800 shares (Rs. 33.83 Cr) |
| Market Maker Portion | 1,93,600 shares (Rs. 2.00 Cr) – Anant Securities |
| Net Offer to Public | 36,51,200 shares (Rs. 31.83 Cr) |
| Issue Type | Book Building Issue |
| Listing At | NSE SME |
| Shareholding Pre-Issue | 1,06,62,400 shares |
| Shareholding Post-Issue | 1,45,07,200 shares |
Reservation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Market Maker | 1,93,600 | 5.04% |
| QIB | 18,24,000 | 47.44% |
| Anchor Investors | 10,94,400 | 28.46% |
| QIB (Ex-Anchor) | 7,29,600 | 18.98% |
| NII (HNI) | 5,48,800 | 14.27% |
| bNII (> Rs. 10 Lakh) | 3,64,800 | 9.49% |
| sNII (< Rs. 10 Lakh) | 1,84,000 | 4.79% |
| Retail Individual Investors | 12,78,400 | 33.25% |
| Total | 38,44,800 | 100.00% |
Application Details
| Application | Lots | Shares | Amount (Rs.) |
|---|---|---|---|
| Retail (Min / 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 |
Promoter Holding
| Particulars | Percentage |
|---|---|
| Promoter Holding Pre-Issue | 100.00% |
| Promoter Holding Post-Issue | 73.48% |
Promoters:
Mr. Deepak Kumar Grover, Mr. Lavkesh Kumar Grover and Mrs. Bhawna Grover
About Grover Jewells Ltd.
Incorporated in 2021, Grover Jewells Limited is engaged in the manufacturing and designing of a wide range of wholesale gold jewellery.
The company’s product portfolio includes plain gold, studded, and semi-finished jewellery in 22 Karat, 20 Karat, and 18 Karat categories. It operates two retail showrooms at Karol Bagh and Chandni Chowk, Delhi.
The company functions across machine-made chain manufacturing and casting jewellery, catering to both bulk wholesale demand and design-led jewellery requirements. Sales are classified into wholesale, retail, and consumer segments.
Headquartered in Delhi, the company has a strong B2B presence across nearly 20 Indian states and exports to Australia and the UAE.
As on August 31, 2025, the company employed 68 personnel.
Financial Snapshot (Rs. crore)
| Period Ended | 31 Oct 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 67.51 | 29.85 | 13.91 | 11.71 |
| Total Income | 473.22 | 460.95 | 258.00 | 255.11 |
| Profit After Tax | 10.45 | 7.62 | 2.78 | 2.71 |
| EBITDA | 14.62 | 11.26 | 4.71 | 4.10 |
| Net Worth | 27.14 | 16.69 | 9.07 | 6.29 |
| Total Borrowing | 28.30 | 9.34 | 4.17 | 3.74 |
Key Performance Indicators
| KPI | Oct 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROCE | 30.62% | 45.00% |
| Debt / Equity | 1.04 | 0.56 |
| RoNW | 38.52% | 45.67% |
| PAT Margin | 2.21% | 1.65% |
| EBITDA Margin | 3.09% | 2.44% |
| Price to Book Value | 3.46 | 5.62 |
Valuation & Shareholding
| Particulars | Pre IPO | Post IPO |
|---|---|---|
| EPS (Rs.) | 7.15 | 12.35 |
| P/E (x) | 12.31 | 7.12 |
| Promoter Holding | 100.00% | 73.48% |
| Market Capitalisation | — | Rs. 127.66 Cr |
Objects of the Issue (Rs. in crores)
| S.No. | Objects of the Issue | Amount (Rs. Cr) |
|---|---|---|
| 1 | Working Capital Requirements | 21.35 |
| 2 | General Corporate Purposes | Balance |
Company Contact
| Particulars | Details |
|---|---|
| Company Name | Grover Jewells Ltd. |
| Address | House No C-44/5, 1st Floor, Lawrance Road Industrial Area, Keshavpuram Industrial Area, North West Delhi – 110035 |
| Phone | +91 9218012596 |
| cs@groverjewells.com | |
| Website | Visit Website |
Lead Manager
| Particulars | Details |
|---|---|
| Lead Manager | Finshore Management Services Ltd. |
Registrar
| Particulars | Details |
|---|---|
| Registrar | Maashitla Securities Pvt. Ltd. |
| Phone | +91-11-45121795-96 |
| ipo@maashitla.com | |
| Website | Visit Website |
Quicklinks
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Disclaimer
This coverage is for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums or recommend investments based on GMP data. Please consult your SEBI-registered investment advisor.
