NSE List Price : ₹96.00

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Category	Times
QIBs	11.29x
HNIs	37.92x
Retail	15.76x
Total : 19.24x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	2	3,200	₹281,600
Retail Maximum	2	3,200	₹281,600
S-HNI Minimum	3	4,800	₹422,400
S-HNI Maximum	7	11,200	₹985,600
B-HNI Minimum	8	12,800	₹1,126,400

About the Company

Grover Jewells Limited was incorporated in 2021 and is engaged in the design and manufacture of a diverse range of gold jewellery for the wholesale segment.

The company offers jewellery crafted in 22, 20, and 18 karat gold, including plain gold, studded, and semi-finished products. It markets both hallmarked and non-hallmarked jewellery through its two showrooms located in Karol Bagh and Chandni Chowk, Delhi.

Headquartered in Delhi, the company has established a strong B2B presence across nearly 20 states in India. In addition, it has expanded its global footprint with exports to markets such as Australia and the UAE.

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2023	₹255.11	₹250.97	₹2.71	₹11.71
2024	₹258.00	₹253.21	₹2.78	₹13.91
2025	₹460.95	₹449.55	₹7.62	₹29.85
Oct 2025	₹473.22	₹458.57	₹10.45	₹67.51

Company Promoter

Mr. Deepak Kumar Grover

Mr. Lavkesh Kumar Grover

Mrs. Bhawna Grover

Know before investing

• • Strengths

  Integrated In-House Manufacturing: The company runs a fully integrated jewellery manufacturing unit, managing the complete production cycle from design through final packaging. The facility is equipped with advanced Italian, Chinese, and German machinery, enabling superior quality, precision, scalability, and quick adaptation to market requirements.

  Diversified & Innovative Product Portfolio: The company provides an extensive selection of gold jewellery, including casting jewellery, chains, CZ jewellery, and customized designs, available in 22K, 20K, and 18K gold. Its broad, trend-focused product range serves diverse customer segments, minimizes concentration risk, and enables consistent revenue growth.

• • Risks

  Gold Price Volatility & Evolving Consumer Preferences: Variations in gold prices directly influence raw material costs, inventory valuation, and overall profitability. In addition, shifting customer preferences necessitate ongoing product innovation, and any inability to adapt effectively could impact demand and profit margins.

  Geographic Revenue Concentration: A substantial share of the Company’s revenue originates from Delhi and nearby states. Any unfavorable economic, political, social, or regulatory changes in these regions could have a material impact on the Company’s operations, financial performance, and cash flows.

Objects of the Issue & Utilisation of proceeds

Working Capital Requirements. 

General Corporate Purpose.

Company  Address

Grover Jewells Ltd.
House No C-44/5
1st Floor Lawrance, Road Industrial Area
Keshavpuram Ind Area, North West
Delhi, New Delhi, 110035
Phone: +91 9218012596
Email: cs@groverjewells.com
Website: https://www.groverjewells.com/

IPO Registrar

Maashitla Securities Pvt.Ltd.
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues

IPO Review

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