The initial public offering of Advit Jewels, which was fully booked on the first day, continued to attract strong investor demand through the final day of bidding, as the issue was oversubscribed by more than 200 times.
All investor categories witnessed robust participation, with the NII portion oversubscribed by 536 times and the QIB segment booked 175 times. The retail segment also saw strong enthusiasm, with subscriptions reaching 95.3 times.
Overall, the issue received bids for 178 crore as against 83.79 lakh in the offer, resulting in a subscription rate of 212 times.
Advit Jewels IPO details
The ₹165.16-crore IPO, valued at the upper end of the price band, is entirely a fresh issue comprising 1.20 crore equity shares. The company plans to utilise ₹65 crore from the proceeds towards working capital requirements, another ₹65 crore for repayment of outstanding borrowings, and the remaining amount for general corporate purposes.
The price band for the IPO has been fixed at ₹130-138 per share, with a lot size of 100 shares. For retail investors, the minimum investment amount stands at ₹13,800 at the upper end of the price band.
Advit Jewels’ GMP signals a strong listing
As of today, the grey market premium (GMP) for Advit Jewels stood at ₹52 per share, indicating the stock could list above its issue price. Based on the prevailing GMP and the upper price band, the estimated listing price works out to around ₹190 per share, implying a premium of nearly 38%.
The GMP reflects the difference between an IPO’s issue price and its expected listing price in the unofficial market. However, investors should note that GMP is only an early indicator and should not be considered the sole basis for an investment decision.
About Advit Jewels
Based in Jaipur, Rajasthan, Advit Jewels manufactures and sells traditional and contemporary handcrafted jewellery, specialising in kundan, diamond, polki, and studded jewellery under its flagship brand, Rambhajo. Its product portfolio includes necklaces, earrings, rings, bangles, and customised jewellery pieces.
The company primarily operates under a B2B model, catering to dealers, showrooms, and jewellery retailers. It also serves B2C customers through exclusive made-to-order jewellery offerings. Advit Jewels operates a manufacturing facility in Jaipur with a built-up area of 6,450 sq. ft., located on leased premises and fully maintained by the company.
On the financial front, the company has delivered steady growth over the last three financial years ended March 31, 2025. Profit after tax (PAT) rose to ₹25 crore in FY25 from ₹14.7 crore in FY24 and ₹10.38 crore in FY23.
Revenue growth has also remained strong, with revenue increasing to ₹125 crore in FY25 from ₹69 crore in FY24 and ₹47 crore in FY23. The company’s listed peers include Bluestone Jewellery and Lifestyle, RBZ Jewellers, and Radhika Jeweltech.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
