Cotec Healthcare, Deepa Jewellers IPO Approved

New Delhi, May 22 (PTI) Cotec Healthcare and Deepa Jewellers have secured Sebi's approval to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Friday.

Pharmaceutical company Cotec Healthcare filed its preliminary papers in September 2025, while hallmarked gold jewellery supplier Deepa Jewellers filed its draft papers in December.

The two companies obtained Sebi's observations on May 18, 2026.

In Sebi's parlance, obtaining observations is equivalent to securing approval to float a public offering.

Cotec Healthcare's maiden public offering comprises a fresh issue of equity shares aggregating up to Rs 295 crore, along with an offer-for-sale (OFS) component of 60 lakh shares, according to the draft red herring prospectus (DRHP).


The company proposes to utilise proceeds from the fresh issue worth Rs 226.25 crore for setting up a new project aimed at enhancing existing manufacturing capacities and facilitating the manufacture of new products. Besides, a portion of the proceeds will also be used for general corporate purposes.

Cotec Healthcare is a leading player in the contract development and manufacturing organisation (CDMO) industry in India.

Deepa Jewellers IPO is a combination of a fresh issue of shares worth Rs 250 crore along with an offer-for-sale of 1,18,48,340 shares by promoters Ashish Agarwal and Seema Agarwal, as per the DRHP.

The Hyderabad-based company will utilise the proceeds from its fresh issuance worth Rs 215 crore for funding long-term working capital requirements towards procurement, maintenance and scaling up of inventory, and general corporate purposes.

Incorporated in 2016, the company is an organised B2B designer, processor and supplier of hallmarked gold jewellery, primarily having operations in Telangana, Karnataka, Andhra Pradesh, Tamil Nadu and Kerala.

Shares of both companies will be listed on the BSE and NSE.