Advit Jewels IPO closes 212x subscribed; Rambhajo maker lists July 1
The handcrafted jewellery firm behind Rambhajo (Kundan, Polki, diamond) saw its ₹165.16-crore IPO subscribed 212 times, with NIIs at 536x, QIBs at 175x and retail at 95x. Price band ₹130-138; ₹49.52 crore raised via anchors. ₹65 crore earmarked for debt repayment. Lists on BSE and NSE July 1.
What happened
Advit Jewels' ₹165-crore IPO closed subscribed 212 times, with NIIs at 536x and QIBs at 175x. The handcrafted jewellery maker behind the Rambhajo brand (Kundan,
Key facts
- ₹165.16 crore IPO
- subscribed 212 times
- NII 536.38x
- Retail 95.30x
- QIB 175x
- price band ₹130-138
- anchor ₹49.52 crore
- ₹65 crore debt repayment
Why this matters
The frothy demand for a mid-size jewellery IPO validates the Kundan/Polki branded play and opens a window for similar regional jewellers to tap public markets or attract strategic stakes.
What to watch
- Listing-day volume and delivery percentage
- Gold price moves and INR/USD around wedding-season demand
- Q2 FY26 same-store-sales disclosure
- Block deals by NII allottees in first 5 sessions
- Inclusion in any thematic jewellery index/ETF
- Track GMP convergence in final 48 hours pre-listing
- Benchmark P/E versus Senco Gold, Thangamayil, Kalyan post-listing
- Monitor anchor investor 30/90-day lock-in expiry calendar
- Watch promoter commentary on store expansion vs debt-only use of proceeds