Deepa Jewellers IPO Day 2: GMP ₹55 (+₹9)

Welcome back to our daily deep dive into the IPO market! Today marks the second day of the Deepa Jewellers IPO, and we’re here to bring you the latest on subscription numbers and the ever-watchful Grey Market Premium (GMP). As of the close of Day 2, the subscription figures are still showing zero across all categories – Retail, High Net-worth Individual (HNI), and Qualified Institutional Buyer (QIB). While this might seem unusual, it’s not uncommon for major subscription activity to kick in on the final day. Let’s break down what this means and what’s happening in the grey market.

Subscription Status

The subscription data for Deepa Jewellers on Day 2 is, to put it mildly, quiet. We’re seeing 0x subscribed across Retail, NII (Non-Institutional Investor, often used interchangeably with HNI), and QIB categories. This means that as of the end of Day 2, no shares have been formally applied for by any segment of investors. Typically, the Retail portion is the first to show traction, followed by NIIs. QIB subscriptions often come in towards the end, especially for larger issues. The lack of any booking, even in retail, could indicate a few things. Investors might be waiting for the final day’s momentum, or perhaps they’re still evaluating the company’s fundamentals and market conditions. It’s also possible that many are simply holding back their applications until the last minute to gauge the overall investor sentiment. The lot size for Deepa Jewellers is 84 shares, so for retail investors, this means a minimum investment of ₹14,868 (84 shares * ₹177 issue price). The absence of even this modest booking is something to watch.

GMP Update

Now, let’s talk about the Grey Market Premium (GMP). This is where the real buzz often lies, reflecting the unofficial demand for a stock before its listing. Yesterday, the GMP for Deepa Jewellers was around ₹46. Today, it has seen a healthy jump to ₹55, an increase of ₹9. This upward movement in GMP is encouraging. It suggests that market participants are showing increased confidence in Deepa Jewellers and are willing to pay a premium over the issue price. At the current GMP of ₹55, the expected listing price is around ₹232 (Issue Price ₹177 + GMP ₹55). This represents a potential listing gain of approximately 31% (₹55 / ₹177 * 100). A rising GMP is often a good indicator of strong listing prospects, even if the official subscription numbers haven’t picked up yet. This could be the early signal that investors are waiting for.

Should You Apply?

So, the million-dollar question: should you be applying for the Deepa Jewellers IPO? It’s a balanced picture right now. On one hand, the subscription numbers are non-existent, which can be a cause for concern if you’re looking for immediate signs of strong demand. However, the IPO period runs until September 3rd, 2026, giving investors ample time to subscribe. The significant jump in GMP is a definite positive. It shows underlying demand and suggests that the stock might list at a premium. The issue price of ₹177 also seems reasonable, especially with an expected listing of ₹232. Remember, the GMP is an unofficial indicator and can fluctuate. It’s always wise to consult with SEBI-registered investment advisors and conduct your own thorough research before making any investment decisions. The bottom line is, while the subscription is yet to ignite, the GMP is certainly giving us something to talk about. For those who have already done their due diligence on the company’s business model and financials, the current GMP might present an attractive entry point. You can View Full Deepa Jewellers IPO Details here for more comprehensive information.