Deepa Jewellers raises ₹138cr from anchor investors before IPO
Deepa Jewellers just pulled in ₹138 crore from big-name anchor investors ahead of its IPO, which opens September 1.
Shares were picked up at ₹177 each by the likes of Motilal Oswal Finvest, Tata Mutual Fund, and Citi Group Global Markets Mauritius.
If you're interested, you can subscribe until September 3, and the shares are set to hit BSE and NSE on September 8.
Deepa Jewellers ₹460cr IPO funds inventory
The total IPO size is ₹460 crore, split between a fresh issue of ₹250 crore and an offer for sale. The company plans to use these funds mainly for stocking up on inventory and other business needs.
Started in 2016, Deepa Jewellers sells hallmarked gold jewelry across southern India through a network of karigars (artisans).
With this IPO, they're aiming to boost their financial muscle and grow bigger in the competitive jewelry market.