Advit Jewels has filed draft papers with capital markets regulator Sebi to mobilise funds through its maiden public offering.
The Jaipur-based company’s proposed IPO is a completely fresh issue of 1.38 crore equity shares with no Offer For Sale (OFS) component.
Proceeds from the public issue worth ₹65 crore will be utilised for working capital requirements of the company, another ₹65 crore for payment of debt and the rest for general corporate purposes, according to the Draft Red Herring Prospectus (DRHP) dated September 30.
Incorporated in 2019, the company is a manufacturer and seller of traditional and contemporary handcrafted fine jewellery, specialising in Kundan, Polki, diamond and studded pieces. Its brand name is Rambhajo.
The company’s revenue from operations was ₹125 crore and its net profit of ₹25.36 crore during FY25.
To assist the public offering, Holani Consultants has been appointed as the book-running lead manager. The equity shares are proposed to be listed on BSE and NSE.