Advit Jewels IPO GMP signals strong listing on July 1; check allotment status, subscription and other details

retained text

Advit Jewels IPO: The initial public offering (IPO) of Turtlemint Fintech Solutions, which was open for subscription from June 23 to 25, received an overwhelming response from investors during its three-day bidding period and is now set to make its stock market debut on Wednesday, July 1 on both the BSE and NSE. The company has set the price band for the issue at ₹130-138 per equity share.
With the listing date approaching, investors are closely tracking the issue's potential listing premium and expected gains.
The basis of allotment for the ₹165-crore public issue was finalised on June 29. Successful applicants are scheduled to receive the shares in their demat accounts today, June 30, ahead of the company's listing on the stock exchanges.
The IPO received an overwhelming response from investors, with the issue being subscribed 212.63 times overall. The strongest demand came from the non-institutional investor (NII) category, which was oversubscribed 536.38 times. The qualified institutional buyers (QIB) portion was subscribed 174.98 times, while the retail individual investor (RII) segment attracted bids for 95.30 times the shares reserved for the category.
Investors who subscribed to the issue can check their Advit Jewels IPO allotment status through the registrar, Bigshare Services Pvt Ltd, or on the BSE and NSE websites.
Ahead of its market debut, Advit Jewels IPO was commanding a strong grey market premium (GMP) of ₹46 per share. Considering the upper end of the issue price band at ₹138 and the prevailing GMP, the estimated listing price stands at ₹184 per share, indicating a premium of 33.33% from issue price.
The grey market premium reflects the amount investors are willing to pay over and above the IPO issue price in the unofficial market.
The public issue comprises a fresh issuance of 1.20 crore equity shares, with no offer-for-sale (OFS) by existing shareholders.
The company proposes to utilise the net proceeds from the issue primarily to fund its business operations and strengthen its balance sheet. Of the total proceeds, ₹65 crore will be used to meet the company's incremental working capital requirements, while another ₹65 crore will be allocated towards the repayment or prepayment, in full or in part, of certain outstanding borrowings availed from scheduled commercial banks. The remaining funds will be utilised for general corporate purposes.
Investors can bid for a minimum of one lot comprising 100 shares. At the upper end of the price band, the minimum investment required for retail investors is ₹13,800.
Advit Jewels is engaged in the design, manufacture and sale of handcrafted fine jewellery, offering a portfolio of traditional and contemporary designs under its flagship 'Rambhajo' brand. The company specialises in customised Kundan, Polki, diamond and studded jewellery, catering to customers in the premium jewellery segment.
The company focuses on heritage-inspired craftsmanship, bespoke designs and artisanal jewellery to strengthen its presence in the high-end jewellery market.
Holani Consultants is the book-running lead manager to the issue, while Bigshare Services has been appointed as the registrar.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends. An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.

document fetched 2026-06-30 09:16 · canonical https://livemint.com/market/ipo/advit-jewels-ipo-gmp-signals-strong-listing-on-july-1-check-ipo-allotment-status-subscription-and-other-details-11782794192105.html