31 Mar 2023
Assets11.71
Total Income255.11
EBITDA4.10
Profit After Tax2.71
NET Worth6.29
Reserves and Surplus3.63
Total Borrowing3.74
At a glance
Updated 2026-09-09The shares listed at ₹96.00, a 9.09% move from the issue price. Grover Jewells is a SME IPO with an issue size of ₹33.83 crore, proposed for listing on NSE SME. The offer opens on 4th Feb 2026 and closes on 6th Feb 2026. The issue structure includes a fresh issue of ₹32.13 crore. The current listing schedule points to 11th Feb 2026.
Issue details
Listing atNSE SME
Issue typeBook Build Issue
Issue size₹33.83 Cr
Fresh issue₹32.13 Cr
Face value₹10
Price band₹83.00–₹88.00
Allotment9th Feb 2026
Listing11th Feb 2026
Listing performance
Full performance ↗Issue price₹88.00
Listing price₹96.00
Current price—
Listing gain9.09%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹0.00
GMP / upper price0.00%
Est. listing₹88.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens4th Feb 2026
Closes6th Feb 2026
Allotment9th Feb 2026
Refund10th Feb 2026
Demat10th Feb 2026
Listing11th Feb 2026
Subscription demand
Full bidding ↗QIB11.32×
sHNI23.56×
bHNI29.50×
NII / HNI29.50×
Retail15.74×
Total19.16×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 3200 | ₹281,600 |
Company
Use of proceeds
| Object | Amount |
|---|---|
| Working Capital Requirements | ₹25.34 Cr |
| General Corporate Purposes | ₹4.50 Cr |
| Issue Expenses | ₹3.99 Cr |
| Total | ₹33.83 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue473.22₹ Cr · +2.7% vs prior year
EBITDA14.62₹ Cr · +29.8% vs prior year
PAT10.45₹ Cr · +37.1% vs prior year
Assets67.51₹ Cr · +126.2% vs prior year
Net Worth27.14₹ Cr · +62.6% vs prior year
Borrowing28.30₹ Cr · +203.0% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ crore31 Mar 2024
Assets13.91
Total Income258.00
EBITDA4.71
Profit After Tax2.78
NET Worth9.07
Reserves and Surplus6.41
Total Borrowing4.17
31 Mar 2025
Assets29.85
Total Income460.95
EBITDA11.26
Profit After Tax7.62
NET Worth16.69
Reserves and Surplus14.03
Total Borrowing9.34
31 Oct 2025
Assets67.51
Total Income473.22
EBITDA14.62
Profit After Tax10.45
NET Worth27.14
Reserves and Surplus16.48
Total Borrowing28.30
KPIs
| KPI | Mar 31, 2025 | Oct 31, 2026 |
|---|---|---|
| ROCE | 45% | 30.62% |
| Debt / Equity | 0.56% | 1.04% |
| RoNW | 45.67% | 38.52% |
| PAT Margin | 1.65% | 2.21% |
| EBITDA Margin | 2.44% | 3.09% |
| Price to Book Value | 5.62 | 3.46 |
Valuation & shareholding
Pre-IPO EPS7.15
Post-IPO EPS12.35
Pre-IPO P/E12.31
Post-IPO P/E7.12
Promoter holding pre100%
Promoter holding post73.48%
Market cap₹127.66 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Grover Jewells IPO | — | 7.12 x | — | — |
| SMR Jewels IPO | — | 10.18 x | — | — |
| Yaashvi Jewellers IPO | — | 10.32 x | — | — |
| Pushpa Jewellers IPO | — | 11.90 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Working Capital Requirements | ₹25.34 Cr |
| General Corporate Purposes | ₹4.50 Cr |
| Issue Expenses | ₹3.99 Cr |
| Total | ₹33.83 Cr |
Registrar & lead managers
Registrar
Maashitla Securities Pvt.Ltd.Lead managers
- Finshore Management Services Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-09.
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