Hyderabad-based Deepa Jewellers files DHRP for IPO
Hyderabad-based Deepa Jewellers has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator, Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The IPO, with a face value of Rs 2, is a fresh issue up to Rs 250 crore and an offer for sale up to 11,848,340 shares by promoters – Ashish Agarwal and Seema Agarwal. The proceeds from its fresh issuance worth Rs 215 crore will be utilised for funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory by the company, and general corporate purposes. The issue is being made through the book-building process, in line with SEBI ICDR Regulations, with up to 50% reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and at least 35% for Retail Individual Investors (RIIs). Incorporated in 2016, the company is an organized B2B designer, processor and supplier of hallmarked gold jewellery, p...