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.
Incorporated in 2021, Grover Jewells Limited is engaged in the manufacturing and designing of a wide range of wholesale gold jewellery.
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.
| Period Ended | 31 Oct 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 67.51 | 29.85 | 13.91 | 11.71 |
| Total Income | 473.22 | 460.95 | 258.00 | 255.11 |
| Profit After Tax | 10.45 | 7.62 | 2.78 | 2.71 |
| EBITDA | 14.62 | 11.26 | 4.71 | 4.10 |
| NET Worth | 27.14 | 16.69 | 9.07 | 6.29 |
| Reserves and Surplus | 16.48 | 14.03 | 6.41 | 3.63 |
| Total Borrowing | 28.30 | 9.34 | 4.17 | 3.74 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirements | 21.35 |
| 2 | General corporate purposes |
| KPI | Oct 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROCE | 30.62% | 45% |
| Debt/Equity | 1.04 | 0.56 |
| RoNW | 38.52% | 45.67% |
| PAT Margin | 2.21% | 1.65% |
| EBITDA Margin | 3.09% | 2.44% |
| Price to Book Value | 3.46 | 5.62 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 7.15 | 12.35 |
| P/E (x) | 12.31 | 7.12 |
| IPO Date | 4 to 6 Feb, 2026 |
| Listing Date | Wed, Feb 11, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹83 to ₹88 |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 38,44,800 shares (agg. up to ₹34 Cr) |
| Reserved for Market Maker |
1,93,600 shares
(agg. up to ₹2 Cr) |
| Net Offered to Public | 36,51,200 shares (agg. up to ₹32 Cr) |
| Share Holding Pre Issue | 1,06,62,400 shares |
| Share Holding Post Issue | 1,45,07,200 shares |
Mr. Deepak Kumar Grover, Mr. Lavkesh Kumar Grover and Mrs. Bhawna Grover are the company promoters.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 73.48% |
As per our analysis and Based on the information we have, this is the output.
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