Grover Jewells Ipo
Grover Jewells IPO Review & Key Points
Review: Neutral
IPO Lead Managers aka Merchant Bankers
Finshore Management Services Ltd.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 3,200 | ₹2,81,600 |
| Retail Maximum | 2 | 3,200 | ₹2,81,600 |
| S-HNI Minimum | 3 | 4,800 | ₹4,22,400 |
| S-HNI Maximum | 7 | 11,200 | ₹9,85,600 |
| B-HNI Minimum | 8 | 12,800 | ₹11,26,400 |
| Investor Category | Share Offered | Shares (%) |
| Anchor Investor | 10,94,400 Shares | 28.46% |
| QIB (Ex. Anchor) | 7,29,600 Shares | 18.98% |
| NII Shares Offered | 5,48,800 Shares | 14.27% |
| Retail Shares Offered | 12,78,400 Shares | 33.25% |
| Anchor Bidding Date | February 03, 2026 |
| Anchor Investors List | |
| Shares Offered | 10,94,400 Shares |
| Anchor Size | 9.62 Cr. |
| lock-in period end date 50% shares (30 Days) | March 11, 2026 |
| lock-in period end date 50% shares (90 Days) | May 10, 2026 |
| IPO Open Date: | February 4, 2026 |
| IPO Close Date: | February 6, 2026 |
| Basis of Allotment: | February 9, 2026 |
| Refunds: | February 10, 2026 |
| Credit to Demat Account: | February 10, 2026 |
| IPO Listing Date: | February 11, 2026 |
| IPO Bidding Cut-off Time: | February 6, 2026 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,06,62,400 | 100% |
| Promoter Holding Post Issue | 1,45,07,200 | 73.48% |
| Purpose | Crores |
| Working Capital Requirements | ₹21.35 |
| General Corporate Purpose | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹255.11 | ₹250.97 | ₹2.71 | ₹11.71 |
| 2024 | ₹258.00 | ₹253.21 | ₹2.78 | ₹13.91 |
| 2025 | ₹460.95 | ₹449.55 | ₹7.62 | ₹29.85 |
| Oct 2025 | ₹473.22 | ₹458.57 | ₹10.45 | ₹67.51 |
| KPI | Values |
| ROE: | 45.67% |
| ROCE: | 45.00% |
| EBITDA Margin: | 2.44% |
| PAT Margin: | 1.65% |
| Debt to equity ratio: | 0.56 |
| Earning Per Share (EPS): | ₹7.15 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 45.67% |
| Net Asset Value (NAV): | ₹15.66 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Shanti Gold International Limited | 10.34 | 20.71 | 36.56% | 21.13 | 1,106.41 Cr. |
| Retaggio Industries Limited | 2.60 | 9.08 | 11.57% | 13.51 | 23.49 Cr. |
| RBZ Jewellers Limited | 9.70 | 14.18 | 15.86% | 61.26 | 530.15 Cr. |
| Utssav CZ Gold Jewels Limited | 11.63 | 19.01 | 19.76% | 53.23 | 646.32 Cr. |
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| IPO Open Date | February 4, 2026 |
| IPO Close Date | February 6, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹83 to ₹88 Per Share |
| Issue Size | Approx ₹33.83 Crores |
| Fresh Issue | Approx ₹33.83 Crores |
| Issue Type | Book build Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |