Grover Jewells IPO
Grover Jewells IPO
Overview
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 opens for subscription on Feb 4, 2026 and closes on Feb 6, 2026. The allotment for the Grover Jewells IPO is expected to be finalized on Feb 9, 2026. Grover Jewells IPO will list on NSE SME with a tentative listing date fixed as Feb 11, 2026. Grover Jewells IPO price band is set at ₹83 to ₹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.
Total Shares
38,44,800
Issue Size
₹34 Cr
Price Band
₹83 – ₹88
Lot Size
1600 shares
Min. Investment
₹2,81,600
Max. Investment
₹2,81,600
Open Date
04 Feb, 2026
Close Date
06 Feb, 2026
Allotment
09 Feb, 2026
Listing
11 Feb, 2026
Max. Investment
₹2,81,600
Announced
04 Feb, 2026
Opening Date
04 Feb, 2026
Closing Date
06 Feb, 2026
Basis of Allotment
09 Feb, 2026
Initiation of Refunds
10 Feb, 2026
Credit of Shares
10 Feb, 2026
Listing Date
11 Feb, 2026
Live GMP
Est. Listing: ₹91
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About Grover Jewells IPO
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
Grover Jewells IPO Share Price
Issue Breakdown
Shareholding
Dilution: 36.1% increase in shares
Grover Jewells IPO Financial Health
Grover Jewells IPO Lot Size
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 | 3200 | ₹2,81,600 |
| Individual investors (Retail) (Max) | 2 | 3200 | ₹2,81,600 |
| S-HNI (Min) | 3 | 4800 | ₹4,22,400 |
| S-HNI (Max) | 7 | 11200 | ₹9,85,600 |
| B-HNI (Min) | 8 | 12800 | ₹11,26,400 |
(All values in CR)
Grover Jewells IPO Valuations
| Metric | Value |
|---|---|
| ROCE | 30.62 |
| Debt/Equity | 1.04 |
| RoNW | 38.52 |
| PAT Margin | 2.21 |
| EBITDA Margin | 3.09 |
| Price to Book Value | 3.46 |
(All values in CR)
Grover Jewells IPO Strength & Risk
Strengths of Grover Jewells IPO
• Operates as an integrated gold jewellery manufacturer serving wholesale and retail segments
• In-house manufacturing supports quality control and timely supply
• Reported strong revenue growth with improving profitability in recent financials
• Presence across multiple states with some export exposure
• Experienced promoters and management team support business execution
• SME listing provides access to capital for expansion and visibility
Risks of Grover Jewells IPO
• SME IPOs generally face lower liquidity and higher price volatility
• Business sensitive to fluctuations in gold prices and consumer demand
• Margins may remain under pressure due to intense competition
• Limited brand recognition compared with larger jewellery players
• Execution risk in scaling retail presence and managing costs
Grover Jewells IPO Subscriptions Status
Grover Jewells IPO subscribed 5.53 times. The public issue subscribed 4.73 times in the individual investors category, 3.82 times in QIB (Ex Anchor), and 9.68 times in the NII category by February 6, 2026 10:39:01 AM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 10,92,800 | 10,92,800 | 9.62 |
| Market Maker | 1.00 | 1,93,600 | 1,93,600 | 1.7 |
| QIB (Ex Anchor) | 3.82 | 7,29,600 | 27,85,600 | 24.51 |
| NII | 9.68 | 5,48,800 | 53,12,000 | 46.75 |
| bNII (> ₹10L) | 11.54 | 3,64,800 | 42,11,200 | 37.06 |
| sNII (< ₹10L) | 5.98 | 1,84,000 | 11,00,800 | 9.69 |
| Individual Investors | 4.73 | 12,80,000 | 60,57,600 | 53.31 |
| Total | 5.53 | 25,58,400 | 1,41,55,200 | 124.57 |
Grover Jewells IPO GMP
Grover Jewells SME IPO last GMP is ₹2.5, last updated Feb 6th 2026 11:37 AM. With the price band of 88.00, Grover Jewells SME IPO's estimated listing price is ₹90.5 (cap price + today's GMP).The expected percentage gain/loss per share is 2.84%. >> Grover Jewells SME IPO Retail Subject to Sauda: ₹3000 The lowest GMP is ₹0.00, while the highest GMP is ₹2.50.
Last updated 06 Feb, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 06 Feb, 2026 | 88 | ₹2.5 | 3000 | ₹90.5 (2.84%) | 4000 | 06 Feb, 2026 |
| 05 Feb, 2026 | 88 | ₹2.5 | 3000 | ₹90.5 (2.84%) | 4000 | 05 Feb, 2026 |
| 04 Feb, 2026 | 88 | ₹2.5▲ | 3000 | ₹90.5 (2.84%) | 4000 | 04 Feb, 2026 |
| 03 Feb, 2026 | 88 | ₹0 | - | - | - | 03 Feb, 2026 |
| 02 Feb, 2026 | 88 | ₹0 | - | ₹88 (0.00%) | - | 02 Feb, 2026 |
| 01 Feb, 2026 | 88 | ₹0 | - | ₹88 (0.00%) | - | 01 Feb, 2026 |
| 31 Jan, 2026 | 88 | ₹0 | - | ₹88 (0.00%) | - | 31 Jan, 2026 |
| 30 Jan, 2026 | 88 | ₹0 | - | ₹88 (0.00%) | - | 30 Jan, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Grover Jewells IPO
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Go to IPO Section
Find Grover Jewells IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
Approve Mandate on UPI App
Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.