SEBI Approves Listings for Deepa Jewellers and Cotec Healthcare Initial Public Offerings
IPOs Cleared: Deepa Jewellers and Cotec Healthcare Get SEBI Nod
The capital markets regulator, Securities and Exchange Board of India, has given the green light to two companies, Deepa Jewellers and Cotec Healthcare, to launch their Initial Public Offerings (IPOs) and raise funds.
Cotec Healthcare had filed its IPO papers with the regulator in September 2025, while Deepa Jewellers approached SEBI with preliminary papers in December 2025. The SEBI issued observations on the draft papers of both companies on May 18.
The issuance of observations on the Draft Red Herring Prospectus (DRHP) means that both companies are now allowed to launch their IPOs by filing the Red Herring Prospectus with the Registrar of Companies within the next year.
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Deepa Jewellers, a Telangana-based hallmarked gold jewellery processor and supplier, plans to raise Rs 250 crore by issuing fresh shares. The company intends to use Rs 215 crore of the proceeds from the fresh issue for its long-term working capital requirements, and the remaining funds for general corporate purposes. The promoters, Ashish Agarwal and his wife, will be selling up to 1.18 crore equity shares via an offer-for-sale.
| Company | IPO Amount (Rs crore) | Proceeds Allocation |
|---|---|---|
| Deepa Jewellers | 250 | 215 (working capital) / 35 (general corporate purposes) |
| Cotec Healthcare | 295 | 226.2 (new project) / 68.8 (general corporate purposes) |
Cotec Healthcare, an Uttarakhand-based contract development and manufacturing organisation (CDMO), plans to raise Rs 295 crore via issuances of new shares. The company proposes to spend Rs 226.2 crore of the fresh issue proceeds for setting up a new project to enhance existing manufacturing capacities and manufacture new products. The remaining IPO funds will be used for general corporate purposes. The company's promoters, Harsh Tiwari and his wife Vandana Tiwari, will be selling up to 60 lakh shares via the offer-for-sale route.
Pantomath Capital Advisors has been appointed as the merchant banker for the Cotec Healthcare IPO, while book-running lead managers Emkay Global Financial Services and Valmiki Leela Capital will be managing the Deepa Jewellers IPO.
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Investor Takeaway
Deepa Jewellers and Cotec Healthcare have received approval from SEBI to launch their IPOs.
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