Advit Jewels IPO opens at ₹130-138 band; grey market signals 46% listing pop
Handcrafted Kundan and Polki jewellery maker Advit Jewels, parent of the Rambhajo brand, opened its three-day IPO with a fresh issue of 1.20 crore shares. Grey market premium of ₹64 implies a listing near ₹202, a 46.38% premium over the upper band.
What happened
Advit Jewels, a handcrafted fine jewellery maker selling Kundan, Polki and diamond pieces under the Rambhajo brand, opened its IPO June 23-25 at ₹130-138 price
Key facts
- price band ₹130-138
- GMP +64
- estimated listing ₹202
- 46.38% premium
- fresh issue 1.20 crore shares
Why this matters
Advit's listing pop reprices comps across handcrafted bridal jewellery—revisit valuation benchmarks for any acquisition or partnership targets in the Kundan-Polki and regional ethnic brand space.