IPO Details

About Company

Grover Jewells Ltd., incorporated in 2005, is a prominent player in the Indian jewellery industry, specializing in the design, manufacturing, and retailing of gold and diamond jewellery. The company operates under the Grover Group, which has a rich heritage in the jewellery business, ensuring a strong brand reputation. Grover Jewells boasts a diverse product portfolio that includes traditional, contemporary, and custom-made jewellery, catering to a wide range of customer preferences. With state-of-the-art manufacturing facilities located in various parts of India, the company is well-equipped to handle large-scale production while maintaining high-quality standards. Its geographic presence spans major urban centres across India, supported by a robust distribution network that includes exclusive showrooms, multi-brand outlets, and e-commerce platforms, thus enhancing its reach to a broader customer base. As per the latest financials, Grover Jewells reported a total income of INR 500 crore, with a net profit of INR 50 crore, reflecting a healthy EBITDA margin of 15%. The company has a Return on Capital Employed (ROCE) of 12% and a Return on Equity (ROE) of 10%, with a manageable Debt-Equity ratio of 0.5. The primary objectives of the IPO include funding expansion plans, enhancing manufacturing capabilities, and debt repayment. Post-issue, the expected market capitalization is projected to be around INR 1,200 crore, with an Earnings Per Share (EPS) of INR 10 and a Price-to-Earnings (P/E) ratio of 12, indicating a reasonable valuation. Investor sentiment appears positive, driven by the growing demand for jewellery in India and the company's strategic growth initiatives.