Grover Jewells IPO 2026: Allotment Status, Issue Details & Listing Date

The Grover Jewells IPO 2026 was one of the notable small-cap public offerings in the SME segment this February, drawing attention from investors interested in the jewellery manufacturing and wholesale sector. Grover Jewells Limited, a Delhi-based gold jewellery maker specialising in plain, studded, and semi-finished pieces, opened its IPO for subscription with clear investor targets and timelines that guided participation across retail and institutional categories.

The IPO was structured as a 100% fresh issue aimed at raising ₹33.83 crore, consisting of 38,44,800 equity shares with a face value of ₹10 per share. Investors were invited to bid within the price band of ₹83 to ₹88 per share, while each minimum lot size was set at 1,600 shares. Given the upper price band, a retail investor needed to invest at least ₹2,81,600 for a single lot, making this IPO particularly significant for high-value retail participants.

The IPO subscription window was open from  4 February 2026 to  6 February 2026, providing a three-day opportunity for investors to apply through their brokers or bank portals using ASBA or UPI mandates. As per exchange data and investor platforms, the issue garnered solid subscription interest across categories, with different reports indicating varying subscription levels as the bidding period progressed. Retail participation, in particular, was strong, reflecting confidence from individual investors in the company’s prospects within the organised jewellery market.

Following the close of the subscription period, investors shifted focus to the allotment status, a critical milestone that determines whether they were allotted shares in the IPO. The basis of allotment was finalised on 9 February 2026, and successful applicants had their shares credited to their Demat accounts on 10 February 2026. Applications that did not receive allotments saw refunds initiated on the same date.

The next major event on the calendar was the listing of Grover Jewells shares. In line with the IPO timetable, the company was scheduled to list its shares on the NSE SME platform on 11 February 2026. SME listings provide a platform for smaller companies to gain public market access while giving investors the opportunity to trade these shares on a recognised exchange with regulated disclosures and reporting standards.

In terms of business fundamentals, Grover Jewells operates a fully integrated manufacturing facility located in Delhi and caters to a mix of wholesale (B2B) and retail customers. The company’s diverse range of gold jewellery products, including 22 karat, 20 karat, and 18 karat offerings, positions it well in both traditional and evolving market segments where demand for quality craftsmanship remains strong.

Investors tracking the IPO response were also observing grey market trends, which offer unofficial signals on listing sentiment. In contrast to some high-profile IPOs that see significant grey market premiums, reports indicated that the Grover Jewells IPO had a relatively flat grey market response, suggesting expectations of a neutral or modest listing debut.

Overall, the Grover Jewells IPO 2026 offered an opportunity for investors to participate in an SME company with a niche in gold and jewellery manufacturing, backed by clear financial goals and a structured timeline. With the allotment process completed and the listing date set, the focus for IPO participants shifted toward post-listing performance and longer-term prospects of the company in the competitive jewellery industry.