Advit Jewels shares debuted on stock exchanges with a nearly 37 per cent premium over the IPO price on Wednesday. The Jaipur-based jewellery firm's shares were listed on the National Stock Exchange at Rs 188.90 per share, up 36.88 per cent from the IPO issue price of Rs 138, meaning investors benefited by Rs 50 per share upon listing. At BSE, the shares started trading at Rs 187, up 35.51 per cent from the IPO price.
The listing hold the market expectations as the grey market premium for the shares stood between Rs 45 and Rs 50. Earlier, the IPO, which was opened for subscription last week, received massive bidding interest from investors. The initial share sale was subscribed 212.63 times. Non-Institutional Investors Quota was subscribed 536.38 times. The Qualified Institutional Investors segment got 174.98 times subscription, and the retail portion was subscribed 95.30 times.
IPO Carries Entire Fresh Shares
The public offering was 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.
Share Reservation
Half of the issue size was 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 was 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.