Advit Jewels IPO

The Advit Jewels mainboard IPO opens for subscription on 23 Jun 2026 and closes on 25 Jun 2026, offered at a price band of ₹130–138 per share, and is set to list on NSE and BSE. In total, the issue aims to mobilise ₹165.16 crore. Retail investors bid in lots of 100 shares, a minimum application of ₹13,800.

Issue structure

The IPO is structured entirely as a fresh issue of ₹165.16 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward funding incremental working capital requirements of company (₹65 crore), alongside repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by company from scheduled commercial banks (₹65 crore). In all, 4 objects are disclosed — the full break-up is in the table above.

Financials

In FY2025, Advit Jewels reported revenue of ₹123.8 crore and a net profit of ₹25.44 crore. Revenue grew from ₹46.6 crore in FY2023 to ₹123.8 crore in FY2025 (+166.0%). Net worth stood at ₹83.65 crore at the end of FY2025. At the upper band, that puts the issue at roughly 18.4× FY2025 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 18.64× post-issue earnings and 7.6× book value, against a return on net worth of 30.41% and a debt-to-equity ratio of 1.29. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including RBZ Jewellers Limited and Radhika Jeweltech Limited, with a median peer P/E of about 12×. The issue's own post-issue P/E works out to 18.64×.

Promoters

The promoters of the company are Nitin Gilara, Prateek Gilara, Vipul Gilara and Krishna Vardhan Gilara. Promoter holding stands at 94.59% before the issue and comes down to 69.88% after listing.

Grey market premium (GMP)

In the unofficial grey market, Advit Jewels shares are quoted at a premium of ₹49.5 implying an expected listing around ₹187.5, about +35.9% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Advit Jewels IPO was subscribed 212.63 times overall. The strongest demand came from non-institutional investors (NII) at 536.38 times, with qualified institutional buyers (QIB) at 174.98× and retail investors at 95.3×.

Listing performance

Advit Jewels listed on 1 Jul 2026 at ₹187, a premium of +35.5% over the issue price of ₹138.

What to weigh

When evaluating the Advit Jewels IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Advit Jewels

Advit Jewels is a Jaipur-based jewellery company, specializing in handcrafted fine jewellery, with expertise in Kundan, Polki, Diamond and Studded pieces under the brand name " Rambhajo". It blend traditional techniques with modern designs to create unique pieces that are both timeless and contemporary. Its product portfolio includes necklaces, earrings, rings, bangles and customized jewellery , crafted in 14K and 18K gold with diamonds and coloured stones. The company primarily works on a B2B model , supplying dealers, showrooms and retailers, but also serve B2C customers for exclusive, made-to-order jewellery. Its jewellery is 100% handmade by skilled artisans trained over generations, ensuring every piece is a masterpiece. In FY 2025, it derived 81.63% of revenue from B2B segment and 18.37% is derived from B2C segment. Manufacturing facility: It has a manufacturing unit in Jaipur (6,450 sq. ft.) is equipped with modern machines like 3D printers and casting units, allowing to handle the complete process in-house – from gold melting to polishing and quality checks. This ensures efficiency, security, and strict quality control. Customized or high-value orders are typically completed within 25–30 days. The company maintains strong quality standards with a dedicated QC team that checks every detail including design, purity, finish, and dimensions before dispatch. It has a PAN India presence with revenue generated from various states including Maharashtra, Haryana, Gujarat, Delhi, Punjab, Rajasthan, West Bengal, Uttar Pradesh, and Telangana. Competitive Strengths Organized manufacturing under one roof Diversified product offering across customer segments Robust operational systems and risk mitigation framework Experienced leadership with proven execution capability Unwavering Commitment to Quality