Grover Jewells Limited
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Grover Jewells Limited's completed its IPO journey with a successful listing on NSE on Feb 11, 2026. The public offering mobilized 38,44,800 Shares in total capital, comprising 38,44,800 Shares in fresh equity.
The offering was conducted within the price band of ₹83 to ₹88, with minimum application lots of 1600 shares. Investor participation during the Feb 04, 2026 to Feb 06, 2026 subscription window determined the final allocation pattern.
The basis of allotment was announced on Feb 09, 2026, finalizing share distribution to successful applicants. The listing represents a significant corporate development, providing the company with enhanced visibility and access to public capital markets.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in 2021, Grover Jewells Limited is involved in designing and manufacturing a wide range of wholesale gold jewellery, including plain gold, studded, and semi-finished products mainly in 22, 20, and 18 Karat. The company also sells hallmarked and non-hallmarked jewellery through its showrooms in Karol Bagh and Chandni Chowk, Delhi. It operates in machine-made chain manufacturing and casting jewellery, allowing it to meet bulk demand as well as modern design preferences with consistent quality and timely delivery. Grover Jewells divides its business into wholesale, retail, and consumer sales, has a strong B2B presence across around 20 Indian states, exports to Australia and the UAE, and employed 68 people as of August 31, 2025.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Diversified product portfolio: across plain, studded, and semi-finished gold jewellery in multiple karat options (22K, 20K, 18K).
- Dual manufacturing capabilities: machine-made chains and casting jewellery, supporting both high-volume and design-driven demand.
- Strong B2B presence: across ~20 Indian states, with growing international exports to Australia and the U.A.E.
- Relatively short operating history: incorporated in 2021, limiting a long-term performance track record.
- Geographic concentration: retail operations limited to two showrooms, both located in Delhi.
- Modest workforce size: 68 employees, which may constrain rapid scaling and operational expansion.
- Mr. Deepak Kumar Grover
- Mr. Lavkesh Kumar Grover
- Mrs. Bhawna Grover
Grover Jewells Limited
Maashitla Securities Private Limited