Deepa Jewellers and Cotec Healthcare Receive SEBI Approval for IPO
On May 18, 2026, the Securities and Exchange Board of India (SEBI) approved the Draft Red Herring Prospectus (DRHP) of two mainboard IPOs, Deepa Jewellers and Cotec Healthcare.
The regulatory clearance comes after the companies filed their DRHPs in December 2025 and September 2025, respectively.
Both companies plan to list their equity shares on the BSE and the NSE. However, the detailed IPO schedule, including the anchor investor bidding date and the public issue opening and closing dates, has not yet been announced.
Deepa Jewellers IPO - Issue Details
Issue Type: Book-built IPO (Fresh Issue + OFS).
Fresh Issue: ₹250 crore
Offer for Sale (OFS): 1.18 crore equity shares
Face Value: ₹2 per equity share.
Proposed Listing: The equity shares are proposed for listing on the NSE and BSE.
Book Running Lead Managers: Emkay Global Financial Services Limited and Valmiki Leela Capital Private Limited.
Registrar: Bigshare Services Private Limited.
Utilisation of Offer Proceeds
The Company proposes to utilise the net proceeds from the fresh issue towards the following purposes:
- Funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory by the Company
- General corporate purposes.
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About Deepa Jewellers Limited
Operating as an organised B2B player, Deepa Jewellers Limited specialises in designing, processing, and supplying hallmarked gold jewellery. Their primary business activities involve processing 22 Karat gold ornaments, providing job-work services, and trading various jewellery-related products.
The company's operational footprint is centred in Southern India, covering the states of Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, and Kerala.
Beyond its core processing unit, the firm manages job-work contracts where it transforms customer-supplied raw materials into finished jewellery.
Additionally, the company trades in precious stones, gold bullion, silver ornaments, and gold jewellery of 18 and 20 Karat purity.
As of November 30, 2025, Deepa Jewellers Limited offers a diverse product range comprising 14 categories and 76 SKUs.
Key Financial Parameters
|
Particulars |
FY25 |
FY24 |
FY23 |
|---|---|---|---|
|
Revenue from operations (in ₹ crore) |
₹1,397 |
₹1,024 |
₹921.25 |
|
Profit after Tax (PAT) (in ₹ crore) |
₹40.58 |
₹24.34 |
₹22.02 |
|
EBITDA (in ₹ crore) |
₹56.0 |
₹35.7 |
₹33.07 |
Cotec Healthcare IPO - Issue Details
Issue Type: Book-built IPO (Fresh Issue + OFS).
Fresh Issue: ₹295 crore
Offer for Sale (OFS): 0.60 crore equity shares
Face Value: ₹5 per equity share.
Proposed Listing: The equity shares are proposed for listing on the NSE and BSE.
Book Running Lead Managers: Pantomath Capital Advisors Private Limited
Registrar: KFin Technologies Limited.
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Utilisation of Offer Proceeds
The Company proposes to utilise the net proceeds from the fresh issue towards the following purposes:
- Funding capital expenditure requirements for setting up a new project to enhance existing manufacturing capacities and manufacture new products.
- General corporate purposes.
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About Cotec Healthcare Limited
With expertise in 24 formulation types, Cotec Healthcare is India's second-largest CDMO by dosage form count. It provides a wide-ranging product portfolio, including tablets, capsules, injectables, ointments, eye drops, syrups, infusions, vials, and ampoules, serving both institutional and private clients.
The company’s comprehensive services encompass formulation, loan licensing, and commercial manufacturing of off-patent products, including advanced delivery systems and complex generics.
Cotec Healthcare’s ISO 9001:2015-certified manufacturing operations are located in Roorkee, Uttarakhand. Spanning over 21,871.71 square meters, the facility had a total installed capacity of 4,051.38 million units as of March 31, 2025.
The site includes three specialised units for regulatory compliance and strategic product segregation.
Key Financial Parameters
|
Particulars |
FY25 |
FY24 |
FY23 |
|---|---|---|---|
|
Revenue from operations (in ₹ crore) |
₹192.236 |
₹137.99 |
₹82.423 |
|
Profit after Tax (PAT) (in ₹ crore) |
₹20.0 |
₹10.46 |
₹5.03 |
|
EBITDA (in ₹ crore) |
₹31.44 |
₹17.11 |
₹9.51 |
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