Incorporated in 2021, Grover Jewells Limited is engaged in the manufacturing and designing of a wide range of wholesale gold jewellery.The company’s product portfolio includes plain gold, studded, and semi-finished jewellery, primarily available in 22 Karat, 20 Karat, and 18 Karat. It also offers hallmarked and non-hallmarked jewellery through its two showrooms located at Karol Bagh, New Delhi, and Chandni Chowk, Delhi.The company operates across two key segments — machine-made chain manufacturing and casting jewellery production — enabling it to cater to both high-volume demand and contemporary fashion-oriented designs with consistent quality and timely delivery.For operational clarity, Grover Jewells Limited categorizes its sales into three divisions: wholesale sales, retail sales, and consumer sales. Headquartered in Delhi, the company has established a strong B2B network across approximately 20 states in India and has expanded its footprint internationally with exports to Australia and the U.A.E.As of August 31, 2025, the company employed 68 individuals.
| Category | Shares Offered* | Total Amt* (₹ Cr.) |
|---|---|---|
|
Anchor
|
193,600 | ₹1.700 |
|
QIB (Ex Anchor)
|
1,824,000 | ₹16.050 |
|
NII
|
548,800 | ₹4.830 |
|
Retail
|
1,278,400 | ₹11.250 |
| Total ** | 3,844,800 | ₹33.830 |
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min — 2 Lots) | 2 | 3,200 | ₹281,600 |
| Retail (Max — 13 Lots) | 13 | 20,800 | ₹1,830,400 |
| S-HNI (Min — 14 Lots) | 14 | 22,400 | ₹1,971,200 |
| S-HNI (Max — 66 Lots) | 66 | 105,600 | ₹9,292,800 |
| B-HNI (Min — 67 Lots) | 67 | 107,200 | ₹9,433,600 |
| Category | QIB | NII | Retail | Total | ||||
|---|---|---|---|---|---|---|---|---|
| Ex. Anchor | Anchor Investor | Total QIB | Below ₹10L | Above ₹10L | Total NII | |||
| Allocation (No. of shares) | — | — | — | — | — | 548,800 | 1,278,400 | 1,827,200 |
| Allotment price (Rs.) | 88 | 88 | 88 | 88 | 88 | 88 | 88 | 88 |
| No. of applications | — | — | — | — | — | — | — | — |
| No. of shares applied | — | — | — | — | — | — | — | — |
| Amount collected (Rs.cr.) | 16.05 | 1.70 | 17.75 | — | — | 4.83 | 11.25 | 33.83 |
| No. of times subscribed | — | — | — | — | — | — | — | — |
| No. of shares allotted | — | — | — | — | — | 548,800 | 1,278,400 | 1,827,200 |
| Amount (Rs.cr.) | 16.05 | 1.70 | 17.75 | — | — | 4.83 | 11.25 | 16.08 |
| No. of allottees | — | — | — | — | — | — | — | — |
| Category | Shares Offered | Amt (₹ Cr) | Size (%) |
|---|---|---|---|
| Anchor / Market Maker | 193,600 | ₹1.70 |
5.04%
|
| QIB (Ex Anchor) | 1,824,000 | ₹16.05 |
47.44%
|
| NII / HNI | 548,800 | ₹4.83 |
14.27%
|
| Retail (RII) | 1,278,400 | ₹11.25 |
33.25%
|
| Total | 3,844,800 | ₹33.83 |
100.00%
|
| Particulars | 31 Oct 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue from Operations | 473.22 | 460.95 | 258.00 |
| EBITDA | 14.62 | 11.26 | 4.71 |
| Profit After Tax (PAT) | 10.45 | 7.62 | 2.78 |
| Net Worth | 27.14 | 16.69 | 9.07 |
| Total Assets | 67.51 | 29.85 | 13.91 |
| Reserves & Surplus | 16.48 | 14.03 | 6.41 |
| Total Borrowings | 28.30 | 9.34 | 4.17 |
| EBITDA Margin (%) | 3.09% | — | — |
| PAT Margin (%) | 2.21% | — | — |
Grover Jewells Ltd proposes to utilize the net proceeds raised through this IPO for the following objects as stated in the Draft Red Herring Prospectus (DRHP) filed with SEBI: