Grover Jewells IPO Shows Strong Response, Subscribed 19.13x on Day 3

Grover Jewells Limited's initial public offering (IPO) has demonstrated strong investor interest through its third and final day of subscription. The stock price band is set at ₹83-88 per share. The ₹33.83 crore IPO reached 19.13 times by 4:49:59 PM on day three. 

Grover Jewells IPO subscription reached strong 19.13 times on day three. It was led by Non-Institutional Investors (37.56x), Individual Investors (15.69x), and Qualified Institutional Buyers Ex-Anchor (11.32x). Total applications reached 8,413.

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Subscription Status of Grover Jewells IPO:

Here are the subscription details for Grover Jewells IPO as of Day 3 (February 6, 2026, 4:49:59 PM):

Key Highlights - Day 3:

• Overall subscription reached strong 19.13 times, showing substantial improvement from day two's 4.17 times
• Non-institutional investors displaying exceptional interest at 37.56 times, building substantially from day two's 6.49 times, indicating strong HNI demand for this wholesale gold jewellery manufacturer
• Individual investors showing strong confidence at 15.69 times, building substantially from day two's 3.38 times, indicating strong retail demand for this SME IPO
• Qualified institutional buyers (ex-anchor) displaying strong performance at 11.32 times, building substantially from day two's 3.82 times, indicating strong institutional appetite
• Cumulative bid amount reached ₹430.76 crores, significantly exceeding the net offer size of ₹32.13 crores (excluding anchor and market maker portions) by approximately 13 times
• Anchor investors fully subscribed their allocation of ₹9.62 crores on February 3, 2026
• Market makers fully subscribed their allocation of ₹1.70 crores

Grover Jewells IPO - Day 2 Subscription at 4.17 Times

Key Highlights - Day 2:

• Overall subscription reached moderate 4.17 times, showing substantial improvement from day one's 1.12 times
• Non-institutional investors displaying moderate performance at 6.49 times, building substantially from day one's 2.46 times
• Qualified institutional buyers displaying moderate performance at 3.82 times, building substantially from day one's 0.00 times
• Individual investors showing moderate confidence at 3.38 times, building substantially from day one's 1.18 times

Grover Jewells IPO - Day 1 Subscription at 1.12 Times
 

Key Highlights - Day 1:

• Overall subscription reached moderate 1.12 times, showing cautious initial investor interest
• Non-institutional investors displaying moderate performance at 2.46 times, indicating moderate HNI appetite
• Individual investors showing moderate confidence at 1.18 times, indicating moderate retail interest
• Qualified institutional buyers displaying negligible performance at 0.00 times, indicating no institutional interest on day one

About Grover Jewells Limited

Incorporated in 2021, Grover Jewells Limited is engaged in the manufacturing and designing of a wide range of wholesale gold jewellery. The company's product portfolio includes plain gold, studded, and semi-finished jewellery, primarily available in 22 Karat, 20 Karat, and 18 Karat. It also offers hallmarked and non-hallmarked jewellery through its two showrooms located at Karol Bagh, New Delhi, and Chandni Chowk, Delhi.