Grover Jewells IPO Details
The key details of Grover Jewells’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹33.83 Crores |
| Price Range | ₹83 - ₹88 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | -- |
| Listing at | NSE |
| Minimum Quantity | 3,200 |
| Investment (cut-off price) | ₹2,81,600 |
| Pre IPO Promotor Holding | 100% |
| Post IPO Promotor Holding | 73.48% |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Grover Jewells IPO Timelines
The IPO process for Grover Jewells includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
04/02/2026
Start Date06/02/2026
End Date10/02/2026
Refund Initiation10/02/2026
Credit of Shares to Demat Ac11/02/2026
Listing DateGrover Jewells IPO Lot Size
The Grover Jewells IPO has a fixed lot size of 1,600 shares, at an upper price band of ₹88 per share. For retail investors, the minimum and maximum application is 3,200 shares (2 lots) amounting to ₹2,81,600. For Small HNI (S-HNI) investors, the minimum application is 4,800 shares (3 lots) worth ₹4,22,400, while the maximum is 11,200 shares (7 lots) amounting to ₹9,85,600. Big HNI (B-HNI) investors need to apply for at least 12,800 shares (8 lots), totaling ₹11,26,400.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 3200 | ₹2,81,600 |
| Retail Maximum | 2 | 3200 | ₹2,81,600 |
| S-HNI Minimum | 3 | 4800 | ₹4,22,400 |
| S-HNI Maximum | 7 | 11200 | ₹9,85,600 |
| B-HNI Minimum | 8 | 12800 | ₹11,26,400 |
Grover Jewells IPO Subscription Status
The subscription status for Grover Jewells IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
IPO Performance on Listing Day
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹ | ₹ | ₹ | ₹ |
Grover Jewells IPO Company Financials
Grover Jewells reports robust performance in FY2025 with Total Income of ₹460.95 crores, managing expenses at ₹449.55 crores, and achieving a strong PAT (Profit After Tax) of ₹7.62 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹255.11 | ₹250.97 | ₹2.71 |
| FY 2024 | ₹258.00 | ₹253.21 | ₹2.78 |
| FY 2025 | ₹460.95 | ₹449.55 | ₹7.62 |
| FY 2026 (7 M) | ₹473.22 | ₹458.57 | ₹10.45 |
About Company
Grover Jewells Limited, incorporated in 2021, is engaged in the manufacturing and designing of wholesale gold jewellery. Its product range includes plain gold, studded, and semi-finished jewellery in 22K, 20K, and 18K gold, offered in both hallmarked and non-hallmarked variants. The company operates through two showrooms located in Karol Bagh and Chandni Chowk, Delhi, and focuses on serving diverse market requirements through a mix of traditional and contemporary designs.
The company operates across two core segments—machine-made chain manufacturing and casting jewellery production—allowing it to meet high-volume demand while maintaining design precision and timely delivery. Grover Jewells Limited classifies its operations into wholesale, retail, and consumer sales, with a strong B2B presence across around 20 Indian states and export operations in Australia and the U.A.E. Headquartered in Delhi, the company employed 68 people as of August 31, 2025.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2021 | Diamond, Gems and Jewellery | Deepak Grover |
Know Before Investing
Grover Jewells IPO Strengths
- Grover Jewells evolved from gold chain production since 2008 into a diversified wholesaler of plain, studded, and semi-finished 22K/20K/18K jewellery, leveraging decades of family craftsmanship expertise.
- Balanced B2B wholesale network across 20 Indian states plus exports to Australia/UAE complements two Delhi showrooms (Karol Bagh, Chandni Chowk), creating multiple distribution channels.
- High-volume chain manufacturing ensures cost efficiency while custom casting supports premium, fashion-oriented designs meeting diverse wholesaler demands.
- Offers both hallmarked and non-hallmarked products strategically positioned for regulated markets while serving traditional trade preferring flexibility.
- Karol Bagh and Chandni Chowk showrooms provide access to concentrated wholesaler footfall and supply chain ecosystem in India’s largest gold trading centres.
- International shipments to UAE/Australia reduce domestic cyclicality exposure while tapping NRI premium jewellery demand.
Grover Jewells IPO Risks
- Raw material costs tied to MCX/global prices compress margins during sharp corrections without immediate customer pass-through.
- Formal limited company structure lacks long-term track record despite promoter proprietorship experience spanning 2008.
- Dependence on jewellery traders/wholesalers vulnerable to seasonal slowdowns, credit defaults, or shifts to direct manufacturer sourcing.
- Competitive wholesaling requires thin fabrication margins amid rising labour/wages and design complexity expectations.
- Mandatory BIS hallmarking compliance increases testing/certification costs while alienating traditional non-compliant trade channels.
- Two Delhi locations insufficient for national brand building versus organised chains like Kalyan/Tanishq expanding aggressively.
- Skilled goldsmiths and casters face attrition and wage inflation impacting production timelines and quality consistency.
- UAE/Australia shipments face logistics costs, forex fluctuations, and compliance with international purity standards.
Swot Analysis for Grover Jewells IPO
Strengths
Machine-Made Chain Specialisation, Dual Wholesale-Retail Model, Hallmark Compliance
Weaknesses
Small Workforce, Delhi-Centric Operations, Limited Product Breadth
Opportunities
Organised Jewellery Formalisation, Investment Gold Demand, E-Commerce Jewellery
Threats
Gold Price Risk, Unorganised Jewellers, Making Charges Pressure
Company Details
Grover Jewells Ltd.
House No C-44/5 1st Floor Lawrance, Road Industrial Area, Keshavpuram Ind Area, North West Delhi, New Delhi, 110035
Phone: +91 9218012596
Email: cs@groverjewells.com
Website: https://www.groverjewells.com/
IPO Registar Details
Maashitla Securities Pvt. Ltd.
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues
FAQs
The key objectives of Grover Jewells SME IPO are:
- Working Capital Requirements
- General corporate purposes
Finshore Management Services Ltd. is the book-running lead managers for the Grover Jewells IPO.
Grover Jewells’ growth potential is supported by rising wedding and festive demand, lightweight jewellery trends, and improving consumer incomes. Its integrated manufacturing facility, pan India B2B reach with export presence, and higher inventory capacity enable scale up, faster order fulfillment, and sustained revenue momentum despite thin margins.
The issue price for the Grover Jewells IPO is set between ₹83 to ₹88 per share.
To invest in two lot of Grover Jewells IPO, you need ₹2,65,600 at the lower price band (₹83 per share) or ₹2,81,600 at the upper price band (₹88 per share) for a lot size of 3,200 shares.
Grover Jewells IPO shares are scheduled to be listed on the National Stock Exchange (NSE) on February 11, 2025.
Refund/unblocking of funds for Grover Jewells IPO will begin on February 10, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Grover Jewells IPO shares on listing day (February 11, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.