The initial public offering (IPO) of jewellery maker Advit Jewels continued to witness strong investor demand on the second day of bidding on June 24, 2026. The public issue was subscribed to 44.16 times, led by aggressive bidding from non-institutional investors (NIIs).
Ahead of the issue opening, the company raised Rs 49.52 crore from anchor investors on June 22 by allotting 3.59 million shares.
Incorporated in 2019, Jaipur-based Advit Jewels manufactures handcrafted jewellery under the "Rambhajo" brand. The company specialises in Kundan, Polki, diamond and studded jewellery and caters to both business-to-business (B2B) and business-to-consumer (B2C) segments. Around 82 per cent of its revenue in FY25 came from the B2B business.
Advit Jewels IPO Subscription Status
As of 4:51 PM on June 24, the IPO had received bids for 363.76 million shares against 8.38 million shares on offer, resulting in an overall subscription of 44.16 times.
The retail individual investor (RII) category, which has 35.01 per cent of the issue reserved for it, was subscribed 35.46 times. Investors bid for 148.57 million shares against the 4.19 million shares reserved.
The NII portion, which accounts for 15.01 per cent of the issue, was subscribed 121.16 times. Demand was particularly strong from smaller high-net-worth investors applying for shares worth up to Rs 10 lakh, with this category being subscribed 159.54 times. Meanwhile, applications from investors bidding for more than Rs 10 lakh led to a subscription of 101.97 times in the big HNI segment.
The QIB portion, excluding anchor investors, was subscribed 1.56 times. The category has 19.99 per cent of the issue reserved after the anchor allocation.
Advit Jewels IPO Details
Advit Jewels IPO is a book-built issue worth Rs 165.16 crore and consists entirely of a fresh issue of 11.97 million shares.
The company has fixed the price band at Rs 130-138 per share. Investors can apply for a minimum of one lot comprising 100 shares, requiring an investment of Rs 13,800 at the upper price band.
Holani Consultants is the book-running lead manager of the issue, while Bigshare Services is acting as the registrar.
Advit Jewels IPO Objectives
The company plans to utilise the proceeds from the fresh issue primarily for funding business growth and reducing debt.
Out of the total proceeds, Rs 65 crore will be used to meet incremental working capital requirements. Another Rs 65 crore will be utilised towards repayment or prepayment of certain outstanding borrowings.
The remaining funds will be used for general corporate purposes.
Advit Jewels IPO GMP Today
The grey market premium (GMP) of Advit Jewels IPO stood at Rs 55 per share in the unofficial market on June 24.
At the current GMP, the shares are indicating a potential listing gain of around 39.86 per cent over the upper price band of Rs 138. However, investors should note that GMP is an unofficial market indicator and may not accurately reflect the stock's listing performance.
