Final hours! Advit Jewels IPO ends today; subscription tops 100x, GMP 44%

Jaipur-based jewellery manufacturer Advit Jewels, owner of the Rambhajo brand, continued to attract strong investor interest for its initial public offering (IPO), which closes for subscription today, June 25.

 

The company's maiden public issue, which opened on June 23, received bids for 84,33,06,200 shares against 83,79,300 shares on offer, resulting in an overall subscription of 100.64 times as of 12:21 PM on June 25, according to NSE data.

 

Demand remained robust across investor categories, led by non-institutional investors (NIIs), whose reserved portion was subscribed 303.58 times. The retail individual investor (RII) category was booked 61.30 times, while the qualified institutional buyer (QIB) portion saw subscriptions of 17.14 times.

 

 

Meanwhile, sentiment in the grey market remained firm. According to sources tracking unofficial market activity, Advit Jewels' unlisted shares were trading at ₹199 apiece, indicating a grey market premium (GMP) of ₹61, or 44.20 per cent, over the IPO's upper price band of ₹138.

 

Investor interest has also been supported by favourable brokerage commentary. Analysts have broadly recommended subscribing to the issue, citing the company's integrated manufacturing capabilities, diversified product portfolio, strong design focus, emphasis on innovation, and reasonable valuation. READ MORE

Advit Jewels IPO details

The IPO comprises a fresh issue of 1.20 crore equity shares aggregating ₹165.16 crore, with no offer-for-sale (OFS) component.

 

The public issue is priced in the range of ₹130-₹138 per share, with a lot size of 100 shares. Investors can bid for a minimum of 100 shares and in multiples thereof.

 

At the upper end of the price band, a retail investor would require ₹13,800 to apply for one lot of Advit Jewels IPO. The maximum retail application of 14 lots, or 1,400 shares, translates into an investment of ₹1,93,200.

 

With the subscription window closing today, the basis of allotment is expected to be finalised on June 29, 2026. Shares are likely to be credited to successful applicants' demat accounts on June 30, 2026.

 

Advit Jewels shares are scheduled to list on the BSE and NSE on July 1, 2026.

 

The company intends to utilise the net proceeds towards meeting incremental working capital requirements, repayment or prepayment of certain borrowings from scheduled commercial banks, and general corporate purposes.

 

About Advit Jewels

 

Incorporated in 2019 and headquartered in Jaipur, Advit Jewels carries forward the legacy of the Rambhajo brand through handcrafted fine jewellery across Kundan, Polki, diamond, and coloured stone categories.

 

The company operates an in-house manufacturing facility in Jaipur equipped with modern tools and skilled artisans. Its operations are primarily focused on the business-to-business (B2B) segment, with a smaller business-to-consumer (B2C) presence through made-to-order jewellery and a proposed flagship store.