Bookbuilding IPO | ₹34 Cr | Listed at NSE SME
Grover Jewells IPO is a book build issue of ₹33.83 crores. The issue is entirely a fresh issue of 0.38 crore shares of ₹33.83 crore.
Grover Jewells IPO bidding started from Feb 4, 2026 and ended on Feb 6, 2026. The allotment for Grover Jewells IPO was finalized on Feb 9, 2026. The shares got listed on NSE SME on Feb 11, 2026.
Grover Jewells IPO price band is set at ₹88 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,81,600 (3,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (4,800 shares), amounting to ₹4,22,400.
Finshore Management Services Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Anant Securities.
Refer to Grover Jewells IPO RHP for detailed Information.
IPO Open
Wed, Feb 4, 2026
IPO Close
Fri, Feb 6, 2026
Issue Price
₹88 per share
Market Cap (Pre-IPO)
₹127.66 Cr
| IPO Date | 4 to 6 Feb, 2026 |
| Listed on | Wed, Feb 11, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹83 to ₹88 |
| Issue Price | ₹88 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 38,44,800 shares (agg. up to ₹34 Cr) |
| Reserved for Market Maker | 1,93,600 shares Anant Securities (agg. up to ₹2 Cr) |
| Net Offered to Public | 36,51,200 shares (agg. up to ₹32 Cr) |
| Share Holding Pre Issue | 1,06,62,400 shares |
| Share Holding Post Issue | 1,45,07,200 shares |
| NSE Symbol | GJL |
| ISIN | INE1TY801010 |
Grover Jewells IPO offers total 38,44,800 shares. Out of which 18,22,400 (47.40%) allocated to QIB, 7,29,600 (18.98%) allocated to QIB (Ex- Anchor), 5,48,800 (14.27%) allocated to NII 12,80,000 (33.29%) allocated to RII and 10,92,800 (28.42%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,93,600 (5.04%) |
| QIB Shares Offered | 18,22,400 (47.40%) |
| − Anchor Investor Shares Offered | 10,92,800 (28.42%) |
| − QIB (Ex. Anchor) Shares Offered | 7,29,600 (18.98%) |
| NII (HNI) Shares Offered | 5,48,800 (14.27%) |
| − bNII > ₹10L | 3,64,800 (9.49%) |
| − sNII < ₹10L | 1,84,000 (4.79%) |
| Retail Shares Offered | 12,80,000 (33.29%) |
| Total Shares Offered | 38,44,800 (100.00%) |
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,81,600 |
| Individual investors (Retail) (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 |
Grover Jewells IPO raises ₹9.62 crore from anchor investors. Grover Jewells IPO Anchor bid date is February 3, 2026.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Feb 3, 2026 |
| Shares Offered | 10,92,800 |
| Anchor Portion (₹ Cr.) | 9.62 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Mar 13, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, May 12, 2026 |
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, primarily available in 22 Karat, 20 Karat, and 18 Karat. It also offers hallmarked and non-hallmarked jewellery through its two showrooms located at Karol Bagh, New Delhi, and Chandni Chowk, Delhi.
The company operates across two key segments — machine-made chain manufacturing and casting jewellery production — enabling it to cater to both high-volume demand and contemporary fashion-oriented designs with consistent quality and timely delivery.
For operational clarity, Grover Jewells Limited categorizes its sales into three divisions: wholesale sales, retail sales, and consumer sales. Headquartered in Delhi, the company has established a strong B2B network across approximately 20 states in India and has expanded its footprint internationally with exports to Australia and the U.A.E.
As of August 31, 2025, the company employed 68 individuals.
| 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 |
| Amount in ₹ Crore | ||||
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 |
| Total | 29.84 |
| KPI | Oct 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROCE | 30.62% | 45% |
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 7.15 | 12.35 |
| P/E (x) | 12.31 | 7.12 |
| Promoter Holding | 100% | 73.48% |
| Market Cap | ₹127.66 Cr. |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees (incl. Underwriting commission) | 1.94 |
| 2 | Registrar to the Issue | 0.02 |
| 3 | Legal Advisor | 0.02 |
| 4 | Peer Review Auditors | 0.02 |
| 5 | Market Maker | 0.09 |
| 6 | Sponsor Bank and Bankers to the Issue | 0.01 |
| 7 | UPI Bidding charges, Printing and distribution of Issue Stationary, other Miscellaneous expenses | 0.08 |
| 8 | Regulators Including Stock Exchanges | 0.13 |
| 9 | Advertising, Selling, Marketing Expenses and Advisory | 1.69 |
| Total | 3.99 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹88.00 |
| Open | ₹96.00 |
| Low | ₹91.40 |
| High | ₹100.80 |
| Last Trade | ₹100.80 |
Lead Manager Reports
Grover Jewells IPO is a SME IPO of 38,44,800 equity shares of the face value of ₹10 aggregating up to ₹34 Crores. The issue is priced at ₹88 per share. The minimum order quantity is 1600.
The IPO opens on Wed, Feb 4, 2026, and closes on Fri, Feb 6, 2026.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Grover Jewells IPO using UPI as a payment gateway. Zerodha customers can apply in Grover Jewells IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Grover Jewells IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Grover Jewells IPO opens on Wed, Feb 4, 2026 and closes on Fri, Feb 6, 2026.
Grover Jewells IPO lot size is 1600, and the minimum amount required for application is ₹2,81,600, with 2 lots being the minimum application size.
You can apply in Grover Jewells IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Grover Jewells IPO will be done on Monday, February 9, 2026, and the allotted shares will be credited to your demat account by Tue, Feb 10, 2026. Check the Grover Jewells IPO allotment status.
The Grover Jewells IPO listing date is on Wed, Feb 11, 2026.
