Jaipur-based Advit Jewels is set to launch its truncated initial public offering (IPO) on June 23.
The total size of the IPO, however, has been reduced from the earlier proposed issuance of up to 1.38 crore equity shares, according to the RHP.
The IPO will open for subscription on June 23. The public offer will remain open till June 25, while the anchor investor round will be held on June 22, 2026, according to the Red Herring Prospectus (RHP) filed on Tuesday.
The public issue is entirely an fresh issue of up to 1.19 crore equity shares, while there is no offer for sale component.
Proceeds from the fresh issue worth Rs 65 crore will be utilised by the company to fund its incremental working capital requirements, Rs 65 crore will also be used for repayment of debt and the balance for general corporate purposes.
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 under the brand name “Rambhajo.” Holani Consultants Pvt Ltd is the sole book-running lead manager for the IPO.