The initial public offering () of Advit Jewels Ltd was fully subscribed on the first day of bidding on Tuesday, driven by strong participation across investor categories. The positive momentum appears to be continuing on the second day of the subscription period.
The Advit Jewels IPO is priced between ₹130 and ₹138 per share. The issue opened for subscription on 23 June and will close on 25 June.
Founded in 2019, Advit Jewels is engaged in manufacturing and selling traditional and contemporary handcrafted fine jewellery under the “Rambhajo” brand. The company specialises in Kundan, Polki, diamond, and studded jewellery.
For the nine months ended 31 December 2025, the company reported revenue from operations of ₹1,238 crore and a net profit of ₹254.4 crore.
As per the issue structure, 50% of the net offer is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors (NIIs).
The three-day subscription window will close on 25 June 2026. The allotment basis is expected to be finalised on 29 June, while shares are likely to be credited to the demat accounts of successful applicants by 30 June. Refunds for unsuccessful bidders are also expected to be processed on the same day.
Advit Jewels shares are tentatively scheduled to list on both the BSE and NSE on 1 July 2026.
Advit Jewels IPO GMP today
Advit Jewels IPO GMP today is +56. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of the Advit Jewels share was ₹194 apiece, which is 40.58% higher than the IPO price of ₹138.
Based on grey market activity over the last 14 sessions, the IPO GMP is showing an upward trend today, indicating a strong listing is anticipated. Experts report that the lowest GMP recorded is ₹0.00, while the highest is ₹91.
” indicates investors’ readiness to pay more than the issue price.
Advit Jewels IPO review
Brokerages have largely maintained a positive stance on the Advit Jewels IPO, citing the company’s strong growth trajectory, niche positioning in the handcrafted jewellery segment, and healthy profitability metrics.
Canara Bank Securities has recommended subscribing to the issue, highlighting Advit Jewels’ presence in the premium handcrafted Kundan and Polki jewellery market. The brokerage noted that the company benefits from the century-old legacy of the Rambhajo brand, strong revenue growth, and robust EBITDA margins of around 30%. It also highlighted the company’s specialised craftsmanship as a key competitive advantage, creating a strong barrier to entry and making its products difficult to replicate at scale.
Canara Bank Securities believes the gradual shift towards higher-margin B2C sales could enhance brand visibility and improve cash flows over time. The brokerage also views the IPO proceeds favourably, as they will help reduce debt and strengthen working capital, thereby improving financial flexibility.
Swastika Investmart has also recommended subscribing to the issue, albeit with a short- to medium-term perspective and potential listing gains in mind. The brokerage highlighted that Advit Jewels’ revenue nearly tripled from ₹46.6 crore in FY24 to ₹124.94 crore in FY26, while net profit increased 2.4-fold over the period. It noted that the company’s return on net worth (RoNW) of 43.6% is significantly higher than listed peers, partially justifying its valuation premium.
Swastika further pointed out that margins have remained stable at around 29-30% over the last three years. However, it cautioned that the company remains relatively small compared to listed peers, is promoter-driven, and has limited geographical diversification, which could result in lower liquidity post listing.
Advit Jewels IPO subscription status
Advit Jewels IPO subscription status is 20.24x on day 2, so far. The retail portion is subscribed 19.31x, and NII portion has been booked 47.85x, QIBs portion received 1.14x bids.
The company has received bids for 16,96,16,700 shares against 83,79,300 shares on offer at 11:21 IST, according to BSE data.
Advit Jewels IPO details
The IPO comprises a fresh issue of 1.20 crore equity shares, with no offer-for-sale () component.
The company plans to utilise the net proceeds towards repayment and prepayment of borrowings amounting to ₹65 crore, funding working capital requirements of ₹65 crore, and meeting general corporate purposes.
Holani Consultants Pvt. Ltd is the book-running lead manager to the issue, while Bigshare Services Pvt. Ltd has been appointed as the registrar.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.