Advit Jewels IPO closes 149x subscribed; Rambhajo-maker lists July 1
The ₹165.16 crore IPO of Rambhajo-branded Kundan, Polki and diamond jewellery maker Advit Jewels drew 149.23x overall demand, with NII at 439x and retail at 78x. Proceeds fund ₹65 crore debt repayment and ₹65 crore working capital. Price band ₹130-138; listing on BSE/NSE July 1.
What happened
Advit Jewels' ₹165.16 crore IPO closed 149.23x subscribed, led by NII at 439x. The Rambhajo-branded Kundan, Polki and diamond jewellery maker will list on
Key facts
- 149.23x overall subscription
- NII 439.05x
- Retail 77.93x
- QIB 56.45x
- Anchor ₹49.52 crore
- IPO size ₹165.16 crore
- Price band ₹130-138
- Fresh issue 1.20 crore shares
- ₹65 crore debt repayment
- ₹65 crore working capital
- Listing July 1
Why this matters
Advit's successful raise validates branded heritage-jewellery as a public-market category, opening windows for roll-ups of regional Kundan-Polki ateliers ahead of listing day.
What to watch
- Listing day open vs ₹138 upper band
- First-week delivery volume % (low = speculative churn)
- Promoter/anchor lock-in expiry calendar
- Gold price volatility impacting inventory margins
- Wedding season demand commentary in maiden results
- Other jewellery IPO filings in DRHP pipeline
- Track GMP in final 48 hours pre-listing as leading indicator
- Monitor peer jewellery listings (Senco, PN Gadgil) for sector read-through
- Watch for block deals from anchor/NII allottees in first 3 sessions
- Assess Q1FY26 working capital deployment disclosures post-listing