Advit Jewels makes stellar debut; shares list at ₹188.90, a premium of 36.88% from IPO price

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Advit Jewels IPO Listing: Advit Jewels share price made a stellar debut in the Indian stock market today, July 1, as it got listed at ₹188.90 apiece on NSE, a premium of 36.88% over its issue price of ₹138. Meanwhile, on BSE, it debuted at ₹187, rallying 35.51% from IPO price.
The listing outperformed Street expectations, as seen from the grey market premium (GMP). Advit Jewels IPO GMP stood at ₹49.50 per share, which indicated a likely listing price of ₹187.50 — a premium of 35.87% to the offer price.
The IPO witnessed overwhelming investor demand, with the issue being subscribed 212.63 times overall. The non-institutional investor (NII) portion led the subscriptions, getting booked 536.38 times, followed by the qualified institutional buyers (QIB) segment at 174.98 times. The retail individual investor (RII) category was subscribed 95.30 times.
The IPO comprised a fresh issue of 1.20 crore equity shares, with no offer-for-sale (OFS) component by existing shareholders.
The company had proposed to utilise the net proceeds primarily to fund its business operations and strengthen its balance sheet. Of the total proceeds, ₹65 crore was earmarked for meeting incremental working capital requirements, while another ₹65 crore was to be used for the repayment or prepayment, in full or in part, of certain outstanding borrowings from scheduled commercial banks. The remaining funds were to be utilised for general corporate purposes.
One lot comprised 100 shares, and at the upper end of the price band, the minimum investment required for retail investors was ₹13,800.
Under the IPO structure, 50% of the net issue was reserved for qualified institutional buyers (QIBs), 35% for retail individual investors (RIIs), and the remaining 15% for non-institutional investors (NIIs).
Holani Consultants Pvt. Ltd. is the book-running lead manager to the issue, while Bigshare Services Pvt. Ltd. has been appointed as the registrar.
Incorporated in 2019, Advit Jewels is a Jaipur-based jewellery manufacturer specialising in handcrafted fine jewellery under the "Rambhajo" brand. The company is known for its expertise in Kundan, Polki, diamond and studded jewellery, combining traditional craftsmanship with contemporary designs.
Its product portfolio includes necklaces, earrings, rings, bangles and customised jewellery, crafted in 14K and 18K gold and embellished with diamonds and coloured gemstones.
Advit Jewels primarily operates on a business-to-business (B2B) model, supplying dealers, showrooms and retailers across India. It also caters to business-to-consumer (B2C) customers by offering exclusive, made-to-order jewellery.
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.
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