Advit Jewels on Monday announced a price band for its Rs 165 crore initial public offering (IPO) at Rs 130-138 per share. The initial share sale will open for public subscription on June 23 and conclude on June 25. Post the price band announcement, the grey market premium of Advit jewels surged to over 60 per cent as compared to the IPO Price.
IPO Carries Entire Fresh Shares
The public offering is entirely a fresh issue of 1.19 crore shares, which translates into Rs 165.15 crore, the upper end of the price band. The proceeds from the Jaipur-based company IPO will be utilised in working capital, debt payment and other general purposes. According to the announcement, Rs 65 crore will be utilised by the company to support its working capital requirements, another Rs 65 crore will be used for payment of debt and the balance for general corporate purposes.
Advit Jewels IPO GMP
Advit Jewels IPO GMP today is Rs 83-- last updated 05:29 PM on Investorgain. This shows a premium of 60.14 per cent as the shares are trading at Rs 221, up against the IPO price band of 138 per share.
Recommended For You
Also Read: Credit Card Rules: Paying Minimum Due Just Got Costlier For THIS Bank; Check Charges, Exemptions
Share Reservation
Half of the issue size is reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. The sole book-running lead manager for this IPO is Holani Consultants. The company will debut on BSE and NSE.
Founded in 2019, the company manufactures and sells traditional and contemporary handcrafted fine jewellery in Kundan, Polki, diamonds and stone settings under the brand name "Rambhajo". Financially, Advit Jewels had an operating income of Rs 1,238 crore and a net profit of Rs 254.4 crore for the nine months ended December 31, 2025.
Disclaimer: This story is for informational purposes only. It should not be considered as investment advice.