Deepa Jewellers has received final approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).

The proposed IPO of the Hyderabad-based company is a fresh issue of up to ₹250 crore and an offer-for-sale of up to about 1.18 crore shares by the promoters – Ashish Agarwal and Seema Agarwal.

Incorporated in 2016, the company is an organised B2B designer, processor and supplier of hallmarked gold jewellery, primarily having operations in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala. 

According to a CrisilL report, the company is one of the key processors and suppliers of vaddanam and CNC machine cut bangles, distributing to jewellery retail chains and standalone stores.

It is engaged in the business of processing 22-karat gold jewellery, job-work services and trading of jewellery and related products. The company designs, processes and sells a wide range of hallmarked plain gold and precious stone studded jewellery, operating through an outsourced manufacturing model, supported by a network of 40 karigars.

Its products primarily include vaddanam (waist belt), CNC machine cut bangles, gents kada, vanki (armlet), dandpatti (bajuband), gundlamala haaram (traditional neck piece), gundlamala necklace, kangan, earring, mangtika (forehead pendant), maatil (ear chain), champasaralu (ear-to-hair chain), jada (braid ornament) and rings.

In addition to its core jewellery processing, the company also undertakes job work assignments, wherein it receives raw material from its customers, which it processes and delivers finished ornaments to them. Furthermore, the company is also engaged in the trading of silver ornaments, 18 and 20-karat gold ornaments, precious stones and gold bullion.

Its product portfolio includes 14 products and 76 SKUs, and as of November 30, 2025, its customer base spanned 315 customers across 13 states and 1 union territory, including 43 jewellery retail chains and 272 standalone stores, according to a release.

Published on May 22, 2026