Published: 12 June 2026 | 6.00 AM
Last Updated: 1 July 2026 | 6.30 AM
Listing- The IPO is listed at Rs. 188.90, premium of 36.88% over the issue price. The grey market expected the listing to be in the range of Rs. 190 and actual listing is in line with the same.
IPO Snapshot
| Particulars | Details |
|---|---|
| Chanakya View | Neutral |
| GMP Today | Rs. 52 |
| Subject to Sauda | R- Rs. 3,800 B- Rs.57,000 |
| Issue Size | Rs. 165.16 Crore |
| Price Band | Rs. 130 to Rs. 138 |
| Lot Size | 100 Shares |
| Retail Investment | Rs. 13,800 |
| Listing Exchange | BSE, NSE |
| Market Cap | Rs. 632.18 Crore |
👉 | IPO GMP | IPO Reviews | IPO Subscription | IPO Allotment
Live Subscription Tracker
| Category | Subscription |
| QIB | 174.98 x |
| NII | 536.32 x |
| Retail | 95.11 x |
| Total | 212.52 x |
Subscription Signal
| Subscription Level | Interpretation |
| Below 1x | Weak |
| 1x–5x | Average |
| 5x–20x | Good |
| 20x–50x | Strong |
| Above 50x | Very Strong |
What Does the Company Do?
Advit Jewels Ltd., incorporated in 2019, is a Jaipur-based jewellery company engaged in handcrafted fine jewellery under the brand name “Rambhajo”. The company specialises in Kundan, Polki, diamond and studded jewellery. Its portfolio includes necklaces, earrings, rings, bangles and customised jewellery made in 14K and 18K gold with diamonds and coloured stones.
IPO Schedule
| Event | Date |
| IPO Opens | 23 June 2026 |
| IPO Closes | 25 June 2026 |
| Allotment | 29 June 2026 |
| Listing | 1 July 2026 |
Quick Positives
✅ Strong brand positioning in handcrafted Kundan, Polki and diamond jewellery.
✅ Healthy PAT margins above 20% in FY2025 and 9MFY2026.
✅ PAN India revenue presence across key jewellery markets.
✅ Anchor book of Rs. 49.52 crore provides initial institutional support.
✅ Debt repayment from IPO proceeds may strengthen the balance sheet.
Key Risks
⚠ Issue appears fairly to aggressively priced based on recent financials.
⚠ Jewellery business is working-capital intensive and sensitive to gold price movement.
⚠ High dependence on B2B sales, which contributed 81.63% of FY2025 revenue.
⚠ Debt/equity stood at 1.29 in FY2025, though repayment is planned from IPO funds.
Who Should Apply?
| Investor Type | Suitability |
| Listing Gain Investors | ★★★☆☆ |
| Long-Term Investors | ★★★☆☆ |
| Conservative Investors | ★★☆☆☆ |
| High-Risk Investors | ★★★★☆ |
Chanakya View
Neutral
Advit Jewels has a niche handcrafted jewellery business, strong margins and healthy profitability. However, valuation appears demanding and the jewellery business requires high working capital.
Cash-surplus and high-risk investors may consider moderate exposure after checking GMP and subscription trend. Conservative investors should avoid aggressive bidding.
IPO Details at a Glance
| Particulars | Details |
| IPO Date | 23 June 2026 to 25 June 2026 |
| Listing Date | 1 July 2026 |
| Face Value | Rs. 10 Per Share |
| Price Band | Rs. 130 to Rs. 138 Per Share |
| Lot Size | 100 Shares |
| Issue Type | Book Building IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,19,68,000 Shares |
| Issue Size | Rs. 165.16 Crore |
| Fresh Issue | 1,19,68,000 Shares |
| Offer For Sale | Nil |
| Sale Type | Fresh Capital Only |
| Shareholding Pre Issue | 3,38,42,000 Shares |
| Shareholding Post Issue | 4,58,10,000 Shares |
| Market Cap | Rs. 632.18 Crore |
Reservation
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
| QIB Shares Offered | 59,81,300 | 49.98% | NA |
| Anchor Investor Shares Offered | 35,88,700 | 29.99% | NA |
| QIB Ex-Anchor Shares Offered | 23,92,600 | 19.99% | NA |
| NII Shares Offered | 17,96,700 | 15.01% | NA |
| bNII Shares Offered | 11,97,800 | 10.01% | 798 |
| sNII Shares Offered | 5,98,900 | 5.00% | 399 |
| Retail Shares Offered | 41,90,000 | 35.01% | 41,900 |
| Total Shares Offered | 1,19,68,000 | 100.00% | – |
Lot Size
| Application Type | Lots | Shares | Amount |
| Retail Minimum | 1 | 100 | Rs. 13,800 |
| Retail Maximum | 14 | 1,400 | Rs. 1,93,200 |
| S-HNI Minimum | 15 | 1,500 | Rs. 2,07,000 |
| S-HNI Maximum | 72 | 7,200 | Rs. 9,93,600 |
| B-HNI Minimum | 73 | 7,300 | Rs. 10,07,400 |
Anchor Investor Details
| Particulars | Details |
| Anchor Bid Date | 22 June 2026 |
| Shares Offered | 35,88,700 |
| Anchor Portion | Rs. 49.52 Crore |
| 50% Lock-in End Date | 29 July 2026 |
| Remaining Lock-in End Date | 27 September 2026 |
Company Details
Advit Jewels Ltd. is a Jaipur-based jewellery company specialising in handcrafted fine jewellery. The company operates under the brand name “Rambhajo” and focuses on Kundan, Polki, diamond and studded jewellery.
Its product portfolio includes necklaces, earrings, rings, bangles and customised jewellery crafted in 14K and 18K gold with diamonds and coloured stones.
The company primarily operates on a B2B model, supplying dealers, showrooms and retailers. It also serves B2C customers for exclusive made-to-order jewellery. In FY2025, 81.63% of revenue came from the B2B segment and 18.37% from the B2C segment.
The company has a 6,450 sq. ft. manufacturing unit in Jaipur equipped with modern machines such as 3D printers and casting units. It handles processes such as gold melting, polishing and quality checks in-house.
As of 30 April 2026, Advit Jewels had 111 employees.
Competitive Strengths
| Key Strengths |
| Organised manufacturing under one roof |
| Diversified product offering across customer segments |
| Robust operational systems and risk mitigation framework |
| Experienced leadership with execution capability |
| Strong commitment to quality |
| PAN India revenue presence |
| Handmade jewellery craftsmanship |
IPO Objects
| Sr. No. | Objects of the Issue | Estimated Amount |
| 1 | Funding incremental working capital requirements | Rs. 65.00 Crore |
| 2 | Repayment or pre-payment of certain outstanding borrowings | Rs. 65.00 Crore |
| 3 | General corporate purposes | Balance Amount |
Company Address
| Particulars | Details |
| Registered Office | Flat No. 301, Pearl Premier, Plot No. 4, Jamna Lal Bajaj Marg, C-Scheme, Jaipur, Rajasthan – 302001 |
| Phone | +91 9216035990 |
| cs@advitjewels.com |
Lead Manager & Registrar
| Particulars | Details |
| Lead Manager | Holani Consultants Pvt. Ltd. |
| Registrar | Bigshare Services Pvt. Ltd. |
| Registrar Phone | +91-22-6263 8200 |
| Registrar Email | ipo@bigshareonline.com |
Financials
| Particulars (Rs. Crore) | 31 Dec 2025 | FY2025 | FY2024 | FY2023 |
| Total Assets | 164.20 | 140.85 | 67.21 | 29.01 |
| Total Income | 123.80 | 124.94 | 69.45 | 46.60 |
| Profit After Tax | 25.44 | 25.37 | 14.71 | 10.39 |
| EBITDA | 36.68 | 37.15 | 18.95 | 12.77 |
| Net Worth | 83.65 | 58.13 | 32.80 | 18.08 |
| Reserves & Surplus | 51.64 | 58.12 | 32.79 | 18.07 |
| Total Borrowings | 64.92 | 74.80 | 19.70 | 5.84 |
31 December 2025 numbers are for the period ended 31 December 2025.
Valuation
Key Performance Indicators (KPI)
| KPI | 31 Dec 2025 | FY2025 |
| ROE | 35.89% | 55.79% |
| ROCE | 24.09% | 27.48% |
| Debt / Equity | – | 1.29 |
| RoNW | 30.41% | 43.64% |
| PAT Margin | 20.55% | 20.30% |
| EBITDA Margin | 29.63% | 29.73% |
| Price To Book Value | – | 7.60 |
EPS & Valuation
| Particulars | Pre IPO | Post IPO |
| EPS | Rs. 7.50 | Rs. 7.41 |
| P/E | 18.41x | 18.64x |
Shareholding Pattern
| Particulars | Pre Issue | Post Issue |
| Promoter Holding | 94.59% | 69.88% |
Promoters
Mr. Nitin Gilara, Mr. Prateek Gilara, Mr. Vipul Gilara and Mr. Krishna Vardhan Gilara are the promoters of the company.
Recently Listed IPOs in Consumer Durables
| Company | Issue Type | Issue Size | Issue Price | Listing Day Close | Listing Gain/Loss | LTP |
| PNGS Reva Diamond Jewellery Ltd. | Mainboard | Rs. 379.52 Cr | Rs. 386 | Rs. 411.70 | +6.66% | Rs. 401.55 |
| Shringar House of Mangalsutra Ltd. | Mainboard | Rs. 400.95 Cr | Rs. 165 | Rs. 184.88 | +12.05% | Rs. 208.02 |
| BlueStone Jewellery & Lifestyle Ltd. | Mainboard | Rs. 1,540.65 Cr | Rs. 517 | Rs. 546.00 | +5.61% | Rs. 520.90 |
Detailed Chanakya View
Advit Jewels operates in the handcrafted jewellery segment with focus on Kundan, Polki, diamond and studded pieces. The company has built a niche brand under “Rambhajo” and has a PAN India presence across several jewellery-consuming states.
The company has reported healthy profitability. PAT increased from Rs. 10.39 crore in FY2023 to Rs. 25.37 crore in FY2025. For the period ended 31 December 2025, it reported PAT of Rs. 25.44 crore on total income of Rs. 123.80 crore.
Margins are strong, with PAT margin above 20% and EBITDA margin near 30%. However, investors should note that jewellery businesses require significant working capital and remain sensitive to gold prices, inventory management and demand cycles.
The IPO proceeds will be used mainly for working capital and repayment of borrowings. These are relevant objects for the business, but the valuation appears demanding considering the price-to-book value and sector risks.
Chanakya View: Neutral. Advit Jewels has strong margins and a differentiated handcrafted jewellery profile, but the IPO appears fairly to aggressively priced. Well-informed and high-risk investors may consider moderate exposure, while conservative investors should wait for listing and post-listing performance.
FAQs
What is the Advit Jewels IPO GMP today?
Refer IPO Snapshot above for the latest GMP and Subject to Sauda updates.
What is the Advit Jewels IPO price band?
Advit Jewels IPO price band is Rs. 130 to Rs. 138 per share.
What is the Advit Jewels IPO lot size?
Advit Jewels IPO lot size is 100 shares.
What is the minimum retail investment for Advit Jewels IPO?
The minimum retail investment is Rs. 13,800 for 100 shares.
When will Advit Jewels IPO open?
Advit Jewels IPO will open on 23 June 2026.
When will Advit Jewels IPO close?
Advit Jewels IPO will close on 25 June 2026.
When is Advit Jewels IPO allotment?
Advit Jewels IPO allotment is expected on 29 June 2026.
When will Advit Jewels IPO list?
Advit Jewels IPO is expected to list on BSE and NSE on 1 July 2026.
Who is the registrar of Advit Jewels IPO?
Bigshare Services Pvt. Ltd. is the registrar of the IPO.
Who is the lead manager of Advit Jewels IPO?
Holani Consultants Pvt. Ltd. is the book running lead manager of the IPO.