Grover Jewells IPO: Grover Jewelers IPO is a book built issue with a total issue size of ₹33.83 cr. This is a completely fresh issue of 0.38 cr. new shares. Subscription for this IPO will start on February 4, 2026 and end on February 6, 2026. The allotment of shares is expected to be finalized by February 9, 2026. The company shares will be listed on the NSE SME platform, with a tentative listing date of February 11, 2026.
The price band of Grover Jewelers IPO has been set at ₹83 to ₹88 per share.
Retail investors: Can apply for a minimum of 1 lot (1,600 shares), which will require an investment of ₹2,81,600 based on the upper price. HNI Investors: Can apply for a minimum of 3 lots (4,800 shares), totaling ₹4,22,400.
Grover Jewells IPO Overview
This IPO of Grover Jewelers is a book-built issue, the total size of which has been kept at ₹33.83 crore. This is a fresh issue of a total of 0.38 crore new shares, aimed at meeting the working capital needs and general corporate objectives of the company.
| Details | Descriptions |
|---|---|
| IPO Date | 4 to 6 Feb, 2026 |
| Listing Date | Wed, Feb 11, 2026 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹83 to ₹88 |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 38,44,800 shares (agg. up to ₹34 Cr) |
| Reserved for Market Maker | 1,93,600 shares (agg. up to ₹2 Cr) |
| Net Offered to Public | 36,51,200 shares (agg. up to ₹32 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,06,62,400 shares |
| Share Holding Post Issue | 1,45,07,200 shares |
Grover Jewells IPO Schedule
This IPO will open for investment on February 4, 2026 and will close on February 6, 2026. The process of allotment of shares is likely to be completed on February 9, while its listing is proposed on February 11, 2026 on the NSE SME platform.
| Details | Description |
|---|---|
| IPO Open Date | Wed, Feb 4, 2026 |
| IPO Close Date | Fri, Feb 6, 2026 |
| Tentative Allotment | Mon, Feb 9, 2026 |
| Initiation of Refunds | Tue, Feb 10, 2026 |
| Credit of Shares to Demat | Tue, Feb 10, 2026 |
| Tentative Listing Date | Wed, Feb 11, 2026 |
Grover Jewells IPO Lot Size Details
The minimum limit for retail investors to apply for this IPO has been fixed at 2 lots (3,200 shares), for which an investment of ₹2,81,600 is required. Whereas for small HNI (S-HNI) investors, at least 3 lots i.e. 4,800 shares will be required, the total amount of which is ₹4,22,400.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,81,600 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,81,600 |
| S-HNI (Min) | 3 | 4,800 | ₹4,22,400 |
| S-HNI (Max) | 7 | 11,200 | ₹9,85,600 |
| B-HNI (Min) | 8 | 12,800 | ₹11,26,400 |
Grover Jewells IPO Allocation
Of the total 38,44,800 shares under the issue, 47.40% has been reserved for qualified official buyers (QIBs), while 33.29% has been kept for retail investors. Of the remaining portion, 28.42% has been allocated to anchor investors and 14.27% to non-institutional investors (NIIs).
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,93,600 (5.04%) |
| QIB Shares Offered | 18,22,400 (47.40%) |
| − Anchor Investor Shares Offered | 10,92,800 (28.42%) |
| − QIB (Ex. Anchor) Shares Offered | 7,29,600 (18.98%) |
| NII (HNI) Shares Offered | 5,48,800 (14.27%) |
| − bNII > ₹10L | 3,64,800 (9.49%) |
| − sNII < ₹10L | 1,84,000 (4.79%) |
| Retail Shares Offered | 12,80,000 (33.29%) |
| Total Shares Offered | 38,44,800 (100.00%) |
Grover Jewells IPO Anchor Investors
| Details | Promoter Holding (%) |
|---|---|
| Bid Date | Tue, Feb 3, 2026 |
| Shares Offered | 10,92,800 |
| Anchor Portion (₹ Cr.) | 9.62 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Mar 11, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, May 10, 2026 |
Overview of Grover Jewells
Established in the year 2021, Grover Jewelers Ltd. is active in the field of manufacturing and designing Wholesale Gold Jewellery.
Product Range: The Company manufactures plain gold, studded and semi-finished jewelery in 18K, 20K and 22K. They have two showrooms located in Karol Bagh & Chandni Chowk, Delhi.
Functionality: The Company mainly operates in two categories-machine made chains and casting jewellery. This enables the company to meet the needs of both large orders and modern fashion. Market Expansion: The business model of the company is divided into wholesale, retail and consumer sales. This Delhi-headquartered company B2B network is spread across 20 states in India, and it also exports to countries like Australia and UAE. As of August 31, 2025, the company had a team of 68 skilled employees.
Company Financials
Grover Jewells Financial Information (Restated Standalone)
The company total revenue during FY 2024-25 stood at ₹460.95 cr., while it recorded a net profit (PAT) of ₹7.62 cr. during the period. As per the latest data as of October 2025, the company’s net worth has increased to ₹67.51 cr., reflecting its continuously growing business.
| 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 |
Key Performance Indicator (KPI)
The market cap. of Grover Jewells IPO is ₹127.66 Crores.
KPI as of Mon, Mar 31, 2025, & Dec 31, 2025
| KPI | Oct 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | – | – |
| ROCE | 30.62% | 45% |
| Debt/Equity | 1.04 | 0.56 |
| RoNW | 38.52% | 45.67% |
| PAT Margin | 2.21% | 1.65% |
| EBITDA Margin | 3.09% | 2.44% |
| Price to Book Value | 3.46 | 5.62 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 7.15 | 12.35 |
| P/E (x) | 12.31 | 7.12 |
| Promoter Holding | 100% | 73.48% |
Grover Jewells IPO Objectives
| Objects of the Issue | Expected Amount (₹ in cr.) |
|---|---|
| Funding working capital requirements of the company | 21.35 |
| Funding of Capital expenditure for manufacturing of equipments for Rental purpose. | – |
| Funding working capital requirements of our company | – |
| General corporate purposes |
Grover Jewells IPO 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
- +91 9218012596
- cs@groverjewells.com
- Website: https://groverjewells.com/
Grover Jewells IPO Registrar
Maashitla Securities Pvt.Ltd.
| Details | Descriptions |
|---|---|
| Phone: | +91-11-45121795-96 |
| Email: | ipo@maashitla.com |
| Website: | https://maashitla.com/allotment-status/public-issues |
Grover Jewells IPO FAQs
When Grover Jewells IPO become available?
The IPO will open on Wed, Feb 4, 2026.
What is the minimum lot size for the Grover Jewells IPO?
The minimum lot size is 800 shares.
When will the shares for the Grover Jewells IPO be allotted?
The allotment is expected to be finalized on Mon, Feb 9, 2026.
What is the expected listing date for the Grover Jewells IPO?
The tentative listing date is Fri, Wed, Feb 11, 2026.
How can I apply for the Grover Jewells IPO?
You can apply online through your bank or a broker using either the UPI or ASBA payment methods.
Read also – Kanishk Aluminium India IPO Details
