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Grover Jewells IPO
Price Band
₹83.0–88.0
Issue Size
₹33.83 Cr
Lot Size
1,600 shares
Min Investment
₹281,600
2 LOTS MIN
GMP
—
Issue Price
₹88.0
Grover Jewells IPO AI Summary
- Grover Jewells IPO is listed on NSE SME in the Gems, Jewellery And Watches sector.
- Price band: ₹83.0–₹88.0 per share, lot size 1,600 shares (min. investment ₹281,600, 2 lots minimum).
- Subscription window: 04 Feb–06 Feb 2026, listing on 11 Feb 2026.
Grover Jewells Limited is a jewellery manufacturer with a strong B2B presence and a diverse product portfolio. The company has shown consistent revenue and profit growth over recent periods. Investors should consider their risk tolerance and investment strategy when evaluating this IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Grover Jewells IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Grover Jewells Limited is engaged in the design and manufacturing of gold jewellery, catering primarily to the wholesale segment. Its product portfolio includes plain gold jewellery, studded pieces, and semi-finished items, mainly produced in 22K, 20K, and 18K gold. The company distributes both hallmarked and non-hallmarked jewellery through its retail locations in Karol Bagh and Chandni Chowk, New Delhi. Manufacturing operations are structured around two key verticals: machine-manufactured chains and cast jewellery production. This integrated setup enables the company to meet bulk demand efficiently while offering contemporary designs with consistent quality and dependable delivery timelines. To enhance operational efficiency, the company classifies its sales into three categories—wholesale, retail, and direct consumer sales. Headquartered in Delhi, Grover Jewells Limited has established a strong B2B footprint across close to 20 states in India and has expanded its reach internationally, with exports to markets such as Australia and the United Arab Emirates. Competitive strengths: Integrated In-House Production Facility Experienced Promoters and Senior Management Team Expansive Product Portfolio Driven by Innovation Established B2B Presence Backed by Rigorous Quality Standards Leveraging Digital Platforms for Growth PAN India as well as International Presence
Company Financials (₹ Cr)
As of 2025-10-31
| 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 |
| Reserves and Surplus | 16.48 | 14.03 | 6.41 | 3.63 |
| Total Borrowing | 28.30 | 9.34 | 4.17 | 3.74 |
Key Ratios
EPS
₹7.15
NAV
₹15.66
ROCE
45%
RoNW
45.67%
P/B Value
5.62
P/E Ratio
12.31
Market Cap
₹127.66 Cr
PAT Margin
1.65%
Debt/Equity
0.56
Promoters
Deepak Kumar Grover, Lavkesh Kumar Grover and Bhawna Grover
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Working Capital Requirements 25.34 2 General Corporate Purposes 4.50 3 Issue Expenses 3.99 Total 33.83
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹255.11 Cr in the year ending 31 Mar 2023, rising to ₹258.00 Cr by 31 Mar 2024, then increasing further to ₹460.95 Cr by 31 Mar 2025, and reaching ₹473.22 Cr by 31 Oct 2025. This shows a consistent upward trend in revenue over the reported periods.
Profit Trend
Profit After Tax was ₹2.71 Cr in the year ending 31 Mar 2023, increasing to ₹2.78 Cr by 31 Mar 2024. It then rose to ₹7.62 Cr by 31 Mar 2025, and further increased to ₹10.45 Cr by 31 Oct 2025. This indicates a significant growth in profitability across the periods.
Grey Market Premium, Explained
The Grey Market Premium (GMP) refers to the unofficial market where shares are traded before they are listed on the stock exchange. A positive GMP indicates strong demand for the shares, while a negative GMP suggests weak demand. Investors often look at GMP as an indicator of potential listing gains.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable investments with lower risk may want to avoid IPOs like this one, especially if they are uncomfortable with the potential for price fluctuations and the inherent risks associated with investing in new market entrants.
IPO Timeline, Explained
The IPO process includes several key dates: the offer opens on 4th February 2026 and closes on 6th February 2026. Allotment of shares will be on 9th February 2026, with the listing date set for 11th February 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are listed on the stock exchange and traded for the first time. However, these gains are not guaranteed, and the stock price can fluctuate significantly on listing day due to market conditions and investor sentiment.
This evaluation is generated from Grover Jewells's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Grover Jewells IPO?
The price band of Grover Jewells IPO is ₹83.0–₹88.0 per share.
When does Grover Jewells IPO open and close?
Grover Jewells IPO opens on 04 February 2026 and closes on 06 February 2026.
When does Grover Jewells IPO list on the stock exchange?
Grover Jewells IPO listed on 11 February 2026 at ₹88.0.
What is the lot size for Grover Jewells IPO?
The lot size for Grover Jewells IPO is 1600 shares, requiring a minimum investment of ₹281,600 (2 lots).
What is the price band for the Grover Jewells IPO?
The price band for the Grover Jewells IPO is ₹83.0 to ₹88.0.
What is the minimum investment required?
The minimum investment required is ₹281,600.
What is the lot size for the IPO?
The lot size for the Grover Jewells IPO is 1600 shares.
When is the listing date for the IPO?
The listing date for the Grover Jewells IPO is 11th February 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the demand for shares in the unofficial market before they are listed.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
04 Feb 2026
Close
06 Feb 2026
Allotment
09 Feb 2026
Listing
11 Feb 2026
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