Grover Jewells IPO: Price band ₹83-88, minimum investment ₹1.4L
Grover Jewells Ltd just launched its IPO, aiming to raise ₹33.83 crore by offering 38.44 lakh shares at ₹83-88 each.
The bidding is open until February 6, with allotment on February 9 and listing set for February 11 on the NSE SME platform.
Interestingly, there's zero gray market premium right now—so no hype yet.
Fast-growing company saw big revenue jump last financial year
Started in late 2021, Grover Jewells makes gold jewelry like chains, bangles, rings, and pendants—mainly for other businesses rather than direct customers.
They've grown fast: Revenue was ₹460.95 crore for the year ended March 2025 (FY25); the source does not report a ₹258 crore revenue figure for FY24 and records a FY24 profit of ₹2.78 crore.
Key issue details for potential investors
Lot size is 1,600 shares priced at ₹1,40,800; some sources state the minimum retail investment as ₹2,81,600 for 3,200 shares.
Most of the money raised will go toward working capital (63%), with the rest for general corporate needs (37%).
Refunds start February 10; the company raised ₹9.62 crore from anchor investors on February 3, 2026.
Finshore Management Services is managing the issue and Maashitla Securities is handling registrations.