Grover Jewells IPO opens for subscription on February 4, 2026, and closes on February 6, 2026, with an issue size of ₹33.83 crore entirely as a fresh issue of 38.44 lakh shares listed on NSE SME. The Delhi-based company manufactures wholesale gold jewellery using advanced CAD-CAM technology and hallmarking standards, serving B2B clients across northern India. Grover Jewells IPO targets investors seeking jewellery sector exposure amid rising gold demand and organized trade consolidation.
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Expert Opinions
Market sentiment for Grover Jewells IPO reflects cautious positivity among SME jewellery investors, balancing gold price tailwinds against organized sector consolidation pressures. Company strengths include CAD-CAM precision manufacturing, BIS hallmarking compliance, vertically integrated operations minimizing making charges, and strong northern India B2B wholesale network with 40% repeat clients. Risks encompass gold price volatility impacting margins, regional concentration risks, working capital intensity from inventory cycles, and competition from branded retail expansion.
Valuation analysis for Grover Jewells IPO and year 2025 demonstrates Return on Equity (ROE) of 45.67%, ROCE of 45.00%, and Net Asset Value (NAV) of ₹15.66, reflecting robust efficiency within conservative jewellery multiples. Long-term investment perspective supports exposure to ₹6 lakh crore organized jewellery market growing 20% annually through export potential and southern penetration.
Investor Considerations
Grover Jewells demonstrates robust company performance and fundamentals, with FY 2025 revenue exploding 79% to ₹460.95 crore and PAT scaling to ₹7.62 crore, fueled by operational efficiencies and northern wholesale dominance. Jewellery sector outlook remains buoyant at 20% CAGR through organized consolidation and gold import duty rationalization. IPO Valuation of Financial Year 2025 for Grover Jewells IPO and year highlights Price to Book Value of 5.62, PAT Margin of 1.65%, and Debt/Equity of 0.56, signaling reasonable pricing amid scaling top-line.
Growth prospects leverage southern market entry and CAD-CAM upgrades targeting ₹800 crore revenue trajectory. Risk factors feature gold volatility exposure, 1.04x recent debt leverage, and B2B dependency amid retail shifts. Short-term investment goals face SME liquidity risks, while long-term horizons capitalize on 45% ROE compounding in premium jewellery demand.
FAQs
Grover Jewells IPO Current GMP is ₹00.
Grover Jewells IPO Expected Returns is 0.00%.
Grover Jewells IPO estimated listing price is ₹88.