Hyderabad-based Deepa Jewellers has filed its draft red herring prospectus with SEBI for an Initial Public Offering (IPO). The company plans to raise funds through a fresh issue of Rs 250 crore and an offer for sale of over 11.8 million shares by promoters Ashish and Seema Agarwal. Proceeds will support working capital, inventory scaling, and general corporate needs. Deepa Jewellers, established in 2016, operates as a B2B designer and supplier of hallmarked gold jewellery across 13 states and one union territory.