Grover Jewells IPO Details
Grover Jewells IPO Summary
Grover Jewells IPO opens for subscription on 04 Feb 2026 and closes on 06 Feb 2026.The IPO will be listed on NSE with the tentative listing date set for 11 Feb 2026.
Grover Jewells IPO price band has been fixed at ₹83 – ₹88 per share. The face value is ₹10 per share with a lot size of 1600.
Grover Jewells IPO total issue size comprises 38,44,800 shares (aggregating up to ₹33.83 Cr.). This includes a fresh issue of 38,44,800 shares (aggregating up to ₹33.83 Cr.). Pre-issue shareholding stands at 1,06,62,400, which will increase to 1,45,07,200 post-issue.
Grover Jewells IPO carries a ₹0 (0%) GMP, reflecting investor sentiment.
Grover Jewells IPO Lot Size :Individual Minimum is 2 lots (3,200 shares) amounting to ₹281,600. Individual Maximum is 2 lots (3,200 shares) amounting to ₹281,600. SHNI Minimum is 3 lots (4,800 shares) amounting to ₹422,400. SHNI Maximum is 7 lots (11,200 shares) amounting to ₹985,600. BHNI Minimum is 8 lots (12,800 shares) amounting to ₹1,126,400.
The Lead Managers for Grover Jewells IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is Finshore Management Services Ltd. To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.
For SME (Small and Medium-sized Enterprise) IPOs, a Market Maker is appointed to ensure liquidity and stability for the stock once it is listed. They do this by continuously quoting bid and ask prices, ensuring there is a market for the shares. The appointed market maker for this IPO is Anant Securities. You can analyze their track record by checking the Market Maker Performance Summary report.
For detailed information, Refer to the Grover Jewells Limited RHP.
Grover Jewells IPO Details
Grover Jewells IPO Subscription
Grover Jewells IPO Application Wise Breakup
Grover Jewells IPO Dates
- 04 Feb 2026Opening dateOpen
- 06 Feb 2026Closing dateClose
- 09 Feb 2026Allotment Date Allotment
- 10 Feb 2026Initiation of RefundsRefund
- 10 Feb 2026Credit of SharesCredit
- 11 Feb 2026Listing dateListing
Grover Jewells IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Minimum | 2 | 3200 | ₹281,600 |
| Individual Maximum | 2 | 3200 | ₹281,600 |
| SHNI Minimum | 3 | 4800 | ₹422,400 |
| SHNI Maximum | 7 | 11200 | ₹985,600 |
| BHNI Minimum | 8 | 12800 | ₹1,126,400 |
Grover Jewells IPO Reservation
Promoter Holding
Documents
Grover Jewells IPO Valuations
Grover Jewells Financial Information
| 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 | ||||
About Grover Jewells IPO
Grover Jewells Limited, incorporated in 2021, is engaged in the manufacturing and designing of a wide range of wholesale gold jewellery. The Company offers an extensive product portfolio comprising plain gold jewellery, studded jewellery, and semi-finished jewellery, primarily in 22 Karat, 20 Karat, and 18 Karat gold.
The Company caters to diverse customer requirements through both hallmarked and non-hallmarked jewellery, which are retailed through its two showroom outlets located at Karol Bagh, New Delhi, and Chandni Chowk, Delhi. These locations enable the Company to maintain a strong presence in key traditional jewellery markets.
Grover Jewells Limited operates across two principal manufacturing segments: machine-made chain manufacturing and casting jewellery production. This dual-segment operational model allows the Company to efficiently serve high-volume wholesale demand while also addressing evolving consumer preferences for contemporary and fashion-oriented designs, supported by consistent quality standards and timely delivery.
For operational and reporting purposes, the Company classifies its sales into three divisions: wholesale sales, retail sales, and consumer sales, providing flexibility across multiple distribution channels.
Headquartered in Delhi, the Company has developed a robust business-to-business (B2B) network across approximately 20 states in India. In addition to its domestic presence, Grover Jewells Limited has expanded its international reach through exports to Australia and the United Arab Emirates.
As of August 31, 2025, the Company employed 68 personnel, supporting its manufacturing, sales, and administrative operations.
Strength Of Grover Jewells IPO
- Established and proven track record.
- Leveraging the experience of our Promoters.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our customers.
- Quality Assurance & Control.
Risk Of Grover Jewells IPO
- The Company had negative cash flow in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
- The company's Registered Office and one of our Showroom are not owned by the company and the company has only leave and license rights over them. In the event the company loses such rights, the company's business, financial condition and results of operations, and cash flows could be adversely affected.
- The company's gold jewellery business faces risks from market volatility and changing customer preferences. Fluctuations in commodity prices like gold could impact the company's costs and profitability. Evolving customer tastes influence product demand, necessitating continuous adaptation, to remain competitive.
- The company's business is primarily concentrated in the central and northern part of India, especially around Delhi and its neighbouring states, i.e. Uttar Pradesh, Haryana and Uttarakhand and the company is significantly dependent on these states for revenue generation. Any adverse development affecting such states may have an adverse effect on the company's business, prospects, financial condition and results of operations.
- The company's inability to identify market trends, and customer demand accurately, counter the challenges that the industry faces and maintain an optimal level of inventory may impact its operations adversely.
- The company derives a significant portion of its revenue from the sale of chains and any reduction in demand or in the manufacturing of such product could have an adverse effect on the company's business, results of operations and financial condition.
- The average cost of acquisition of Equity Shares by the company's Promoters is lower than the Issue Price.
- Intense competition in the Indian Jewellery Market could result in loss of customers, reduced market share, and adverse impact on our business and financial performance.
- Overdependence on B2B Sales with Negligible Direct Consumer Sales.
- The company is dependents on and derive a substantial portion of its revenue from a limited number of customers. The Company in the usual course of Business does not have any long-term contracts with its customers and the company relies on purchase orders for delivery of the company's products and our customers may cancel or modify their orders, change quantities, delay or change their sourcing strategy. Loss of one or more of its top Customers or a reduction in their demand for the company's products or reduction in revenue derived from them may adversely affect its Business, Results of Operations and Financial Condition.
Objectives Grover Jewells IPO
1. Working Capital Requirements
2. General corporate purposes
Company Contact 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://groverjewells.com/
Registrar Contact Details
Grover Jewells FAQs
The Grover Jewells IPO is a SME public issue comprising 3844800 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹33.83 Cr.. The issue price has been fixed at ₹88 per equity share, and the minimum application size is 1600 shares.
The IPO opens for subscription on 04 Feb 2026, and closes on 06 Feb 2026.
Maashitla Securities Pvt Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the NSE
As of now, the current GMP stands at ₹0 (0%).
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