Valmiki Leela Capital completes first mainboard IPO, builds $360M pipeline

Valmiki Leela Capital has completed its first mainboard IPO mandate as book-running lead manager with Deepa Jewellers' ₹460-crore offering. The Mumbai-based merchant banker is building a pipeline worth approximately ₹3,000 crore over the next 12 to 18 months.

The SEBI-registered Category I merchant banker's pipeline includes proposed issues of around ₹1,500 crore in renewable energy and power, alongside pharmaceuticals, packaging and fast-moving electrical goods sectors.

Deepa Jewellers' IPO was subscribed 43.40 times overall, with shares opening at ₹221, 24.86% above the ₹177 issue price. The anchor book drew participation from institutional investors including Motilal Oswal, WhiteOak Capital, Nomura, and Citi.

The Hyderabad-based business-to-business gold jewellery platform serves 373 customers across 13 states and one Union Territory.

Source : Valmiki Leela Capital completes first mainboard IPO, builds $360M pipeline