Grover Jewells Limited IPO
Grover Jewells Limited IPO
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Grover Jewells Limited's completed its IPO journey with a successful listing on NSE on 11-02-2026. 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 04-02-2026 to 06-02-2026 subscription window determined the final allocation pattern.
The basis of allotment was announced on 09-02-2026, 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.
Grover Jewells IPO About Company
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."
Grover Jewells IPO Strength Factors
- 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.
Grover Jewells IPO Risk Factors
- 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.
Grover Jewells IPO Lead Manager(s)
- Finshore Managment Services Limited
Grover Jewells IPO Promoter(s)
- Mr. Deepak Kumar Grover
- Mr. Lavkesh Kumar Grover
- Mrs. Bhawna Grover
Grover Jewells IPO FAQs
Grover Jewells Limited IPO subscribed 19.24 times. The public issue subscribed 15.74 times in the retail category,11.32times in QIB, and 45.16 times in the HNI (10+) category byFebruary 11, 2026 4:15:00 AM (Day 11).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Grover Jewells IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Grover Jewells IPO FAQs
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The basis of allotment for Grover Jewells Limited IPO is available now.
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