Advit Jewels IPO books 20.49x on Day 2; GMP signals 40% listing pop for Rambhajo maker

Kundan-Polki specialist Advit Jewels (Rambhajo brand) sees strong demand at ₹130-138 band: NII 47.85x, retail 19.31x, QIB 1.14x. GMP of ₹56 implies ~40% premium ahead of 1 July 2026 BSE/NSE listing. Brokerages recommend subscribe on FY26 revenue of ₹124.94 cr.

— Source publishedWed, 24 Jun, 2026, 11:23 IST·First seen Wed, 24 Jun, 2026, 11:33 IST·Source Mint · Markets

What happened

Advit Jewels, maker of Kundan/Polki handcrafted jewellery under Rambhajo brand, sees its IPO subscribed 20.24x on day 2 with GMP of ₹56. Listing on BSE/NSE

Key facts

  • price band ₹130-₹138
  • GMP +56
  • subscribed 20.24x day 2
  • retail 19.31x
  • NII 47.85x
  • QIB 1.14x
  • fresh issue 1.20 crore shares
  • FY26 revenue ₹124.94 cr

Why this matters

Strong IPO reception and a fresh listing currency position Advit Jewels to pursue bolt-on acquisitions in regional jewellery brands or vertical integration into Kundan-Polki sourcing.