Grover Jewells
CLOSEDIPO Date: 4 Feb - 6 Feb 2026
Listing Date: 11 Feb 2026
Price Range
Rs.83 - Rs.88
Issue Size
34 Cr
Min Investment
₹1,32,800
Lot Size
1600 Shares
Schedule of Grover Jewells
Issue open date
4 Feb 2026
Issue close date
6 Feb 2026
UPI mandate deadline
6 Feb 2026 (5 PM)
Allotment finalization
9 Feb 2026
Share credit
10 Feb 2026
Listing date
11 Feb 2026
Mandate end date
21 Feb 2026
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | 34 Cr |
| Fresh Issue | 33.83 Cr |
| Offer for Sale | 0 Cr |
Allotment DetailsNew
| Allotment Timeline | Details |
|---|---|
| Allotment Date | 9 Feb 2026 |
| Allotment Link | {Link} |
Grey Market PremiumNew
Grey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.
| Date | Ipo Price | GMP | Estimated Listing Price |
|---|---|---|---|
| 10 Feb 2026 | ₹88 | ₹0 | ₹88 (0%) |
| 8 Feb 2026 | ₹88 | ₹3 | ₹91 (2.95%) |
| 7 Feb 2026 | ₹88 | ₹3 | ₹91 (2.95%) |
| 5 Feb 2026 | ₹88 | ₹2 | ₹90 (2.84%) |
| 3 Feb 2026 | ₹88 | ₹0 | ₹88 (0%) |
| 2 Feb 2026 | ₹88 | ₹0 | ₹88 (0%) |
| 1 Feb 2026 | ₹88 | ₹0 | ₹88 (0%) |
| 31 Jan 2026 | ₹88 | ₹0 | ₹88 (0%) |
| 30 Jan 2026 | ₹88 | ₹0 | ₹88 (0%) |
Performance Grover Jewells
| Issue Price | Listing Gain | Current Market Price | P/L |
|---|---|---|---|
| Rs.83 - Rs.88 | ₹ 177 (9.09%) | ₹ 159.75 | 81.53% |
About Grover Jewells
Grover Jewells Limited is involved in the manufacturing and designing of gold jewellery, primarily catering to wholesale markets. The company manufactures a range of gold jewellery products, including plain gold, studded, and semi-finished jewellery, mainly in 22 Karat, 20 Karat, and 18 Karat gold. Its product portfolio includes gold chains, bangles, rings, necklaces, and complete jewellery sets. In addition to wholesale operations, the company sells hallmarked and non-hallmarked jewellery through two showrooms located in Karol Bagh, New Delhi, and Chandni Chowk, Delhi. Grover Jewells also undertakes job work, where it converts gold and designs provided by smaller jewellers into finished jewellery, earning labour charges for this activity. According to the RHP, the company operates a fully integrated, in-house manufacturing facility situated at Lawrence Road Industrial Area, Delhi. The facility houses machinery used for casting, melting, finishing, and packaging, and supports design, manufacturing, and related operations under one roof.
| Founded in | 2021 |
| Managing director | Mr Deepak Kumar Grover |
| Parent organization |
Financial Overview
Strengths
- Experienced promoters with a deep understanding of gold jewellery manufacturing.
- Strong specialisation in gold chains, a high-demand and scalable product category.
- Established a B2B network of wholesalers and retailers, ensuring steady orders.
- In-house manufacturing and design capabilities support quality and cost control.
- Track record of revenue growth driven by repeat customers.
Risks
- Revenue is highly concentrated in gold chains, limiting product diversification.
- Operations are largely concentrated in North India, especially the Delhi region.
- Heavy dependence on B2B sales with limited direct consumer presence.
- Exposure to gold price volatility may impact margins and inventory value.
- Absence of long-term contracts with customers and suppliers increases uncertainty.
Subscription Figures
| Category | Subscription (No. of times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | 11.32 |
| Non-Institutional Investors (NIIs) | 28.02 |
| Retail Individual Investors (RIIs) | 15.61 |
| Employee | N/A |
| Total | 17.81 |