Grover Jewells came to market through an SME IPO that opened on 4 February 2026 and closed on 6 February 2026, and the shares listed on 11 February 2026 on NSE SME. The price band was ₹83 to ₹88 per share and one lot was 1600 shares, so the minimum application was ₹1,40,800. The issue size was ₹33.83 crore. The whole issue was fresh shares, so the money raised went to the company.
Maashitla Securities Pvt.Ltd was the registrar to the issue, and Finshore Management Services Ltd was the lead manager.
As of 6 February 2026.
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Incorporated in the year 2021, Grover Jewells Limited is involved in the manufacturing and designing of a variety of wholesale gold jewelry.The product offerings of the company comprise plain gold, studded, and semi-finished jewelry, which are mainly offered in 22 Karat, 20 Karat, and 18 Karat. The company also deals in hallmarked and non-hallmarked jewelry, which is available through the two showrooms of the company situated at Karol Bagh, New Delhi, and Chandni Chowk, Delhi.
The company functions through two major business segments: machine-made chain manufacturing and casting jewelry production, which helps the company meet the bulk demand as well as the latest fashion designs.To streamline its business operations, Grover Jewells Limited divides its sales into three divisions: wholesale sales, retail sales, and consumer sales.
The company, headquartered in Delhi, has developed a robust B2B business network in and around 20 states in India and has further expanded its global presence through exports to Australia and the U.A.E. As of August 31, 2025, the company had 68 employees.
As described in the offer document.
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Mr. Deepak Kumar Grover, Mr. Lavkesh Kumar Grover, Mrs. Bhawna Grover. Promoter holding 100% before the issue and 73.48% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Grover Jewells IPO was a ₹33.83 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹83–₹88 per share with a lot size of 1,600 shares; the minimum retail application was 3,200 shares (₹2,81,600). The IPO was open from February 4 to February 6, 2026 and was subscribed 19.24x. Shares listed on NSE SME on February 11, 2026 at ₹96, a 9.1% premium to the issue price of ₹88. Maashitla Securities Pvt. Ltd. is the registrar.
Finshore Management Services Ltd. is the book running lead manager.
The price band of Grover Jewells IPO is ₹83 to ₹88 per share.
The lot size of Grover Jewells IPO is 1600 shares.
The minimum investment for Grover Jewells IPO is approximately ₹2,81,600 based on the upper price band.
The allotment date of Grover Jewells IPO is Feb 9, 2026.
You can check Grover Jewells IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Grover Jewells IPO allotment status on Rupix for quick and easy access.
₹83 to ₹88 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1600 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,40,800. After listing, SME shares also trade in lots rather than one share at a time.
₹1,40,800, for one lot of 1600 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 4 February 2026 and closed on 6 February 2026.
The basis of allotment was published on 9 February 2026 by Maashitla Securities Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 11 February 2026 on NSE SME.
The issue size was ₹33.83 crore. The fresh issue was 38,44,800 shares (aggregating up to ₹33.83 crore).