Advit Jewels IPO subscribed 11.18 times

The offer received bids for 9.36 crore shares as against 83.79 lakh shares on offer.

The initial public offer of Advit Jewels received bids for 9,36,73,100 shares as against 83,79,300 shares on offer, according to stock exchange data at 17:00 IST on Tuesday (23 June 2026). The issue was subscribed 11.18 times.

The issue opened for bidding on 23 June 2026 and it will close on 25 June 2026. The price band of the IPO is fixed between Rs 130 and 138 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof.

The IPO comprises a fresh issue of 1,19,68,000 equity shares aggregating up to Rs 165.16 crore. The objectives for the fresh issue include Rs 65 crore for funding working capital requirements, Rs 65 crore for repayment/pre-payment of certain outstanding borrowings, and remaining amount for general corporate purposes.

The promoters are Nitin Gilara, Prateek Gilara, Vipul Gilara and Krishna Vardhan Gilara. The promoters and promoter group hold an aggregate of 3,20,10,000 equity shares, aggregating to 94.59% of the pre-offer issued and paid-up equity share capital. Their post IPO shareholding is expected to be around 69.88%.

Advit Jewels is a Jaipur-based jewellery manufacturer and retailer engaged in designing and crafting handcrafted fine jewellery under the 'Rambhajo' brand. The company specializes in Kundan, Polki, diamond and studded jewellery, offering a diverse range of products including necklaces, earrings, rings, bangles and customized jewellery. It primarily operates on a B2B model, supplying products to dealers, showrooms and retailers across India, while also catering to select B2C customers through made-to-order offerings. With an integrated manufacturing facility in Jaipur and a presence across nearly 18 states, the company combines traditional craftsmanship with modern production techniques. Advit Jewels plans to expand its footprint through a franchise-led retail model, a flagship store in Jaipur and enhanced digital sales channels.

Ahead of the IPO, Advit Jewels on Monday, 22 June 2026, raised Rs 49.52 crore from anchor investors. The board allotted 35.88 lakh shares at Rs 138 each to 4 anchor investors.

The firm reported a consolidated net profit of Rs 25.44 crore and sales of Rs 123.79 crore for the nine months ended on 31 March 2026.

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