The Jaipur-based Advit Jewels launched its Rs 160-crore initial public offering (IPO) today, June 23. The jewellery company specialises in handcrafted fine jewellery, with expertise in Kundan, Polki, Diamond and Studded pieces under the brand name "Rambhajo".
As subscription for the mainboard issue opened, investors are keeping a watch on the grey market premium (GMP) to gauge the market sentiment. GMP acts as an indicator of pre-listing demand and estimated listing day gains. Since the grey market is an unofficial channel operating outside regulatory frameworks, this premium functions strictly as a barometer of investor interest rather than a guaranteed opening price.
Here's everything you need to know about the Advit Jewels (Rambhajo) IPO.
Advit Jewels IPO GMP Today
According to InvestorGain, the GMP for the Advit Jewels IPO was Rs 65 on June 23. This means that the unlisted shares of the company were trading at Rs 203 apiece at a premium of 47.10% on the upper limit of the price band.
Note: GMP does not represent official data and is based on speculation. GMP data will be updated at regular intervals
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Advit Jewels IPO Latest Subscription Status
The IPO was booked 3.75 times on Tuesday (as of 12:01 pm), with investors bidding for 3,14,55,600 shares against the 83,79,300 shares on offer. Non-institutional investors quota was booked 7.25 times, whereas retail quota was booked 4.39 times. QIB quota was booked 0.01 times.
Advit Jewels IPO: Price Band, Offer Size And More
The Advit Jewels IPO is a book build issue of Rs 165.16 crore, comprising a fresh issue of 1.2 crore shares.
The price band for the IPO is set between Rs 130 and Rs 138 per share.
Retail investors looking to apply for the IPO must bid for at least one lot comprising 100 shares, which translates into a minimum investment of Rs 13,800. For Small Non-Institutional Investors (sNIIs), the entry threshold is 15 lots, requiring a capital outlay of Rs 2.07 lakh. Meanwhile, Big Non-Institutional Investors (bNIIs) need to apply for a minimum of 73 lots, taking the investment commitment to Rs 10.07 lakh.
Holani Consultants Ltd. is the book-running lead manager and Bigshare Services Ltd. is the registrar of the issue.
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Advit Jewels IPO: Important Dates
The IPO will remain open for subscription till June 25. The share allotment status for the Advit Jewels IPO is likely to be finalised on June 29, while successful applicants are expected to receive the shares in their demat accounts on June 30. Refunds to investors who do not receive an allotment are also scheduled for the same day.
Subject to the successful completion of the issue process, the company's equity shares are due to be listed on both the BSE and NSE on July 1.
Advit Jewels IPO: Use Of Proceeds
The company will use proceeds from the IPO to fund incremental working capital requirements, clear debt, and for general corporate purposes.
About Advit Jewels
Jaipur-based Advit Jewels specialises in premium handcrafted jewellery and operates under the Rambhajo label. Renowned for its expertise in Kundan, Polki, diamond and embellished jewellery, the firm combines traditional jewellery-making techniques with modern design sensibilities, creating pieces that appeal to both classic and contemporary tastes.
Some of the notable celebrities and public figures who have worn and styled Rambhajo's heirloom pieces include: Shraddha Kapoor, Ananya Pandey, Deepika Padukone, Kangana Ranaut, Madhuri Dixit, Raveena Tandon, Pooja Hegde and Huma Qureshi.
Financials
The company's revenue from operations increased 79.9% year-on-year (YoY) to Rs 124.94 crore in FY25 from Rs 69.44 crore in FY24. Profit after tax increased 72.47% YoY to Rs 25.37 crore in FY25 from Rs 14.71 crore in FY24
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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