Advit Jewels IPO booked 11.3x on Day 1; retail piles in at 27x as GMP points to ~47% listing pop
Jaipur-based handcrafted jewellery maker Advit Jewels saw its ₹165.16 crore IPO subscribed 11.28x on Day 1, with the retail portion at 27x and NII at 24x. Grey market premium of ₹64 over the ₹138 upper band signals a bumper listing. FY25 revenue stood at ₹125 cr with PAT of ₹25 cr.
What happened
Jaipur-based handcrafted jewellery maker Advit Jewels' ₹165 crore IPO was subscribed 11.3x on Day 1, with retail at 27x. GMP of ₹64 signals ~47% listing premium
Key facts
- ₹165.16 crore IPO
- 11.28x subscribed Day 1
- retail 27x
- NII 24x
- price band ₹130-138
- GMP ₹64
- FY25 PAT ₹25 cr
- FY25 revenue ₹125 cr
Why this matters
Advit's successful raise validates the handcrafted jewellery category for capital markets and opens a window to evaluate similar Jaipur-based targets before valuations re-rate.