Advit Jewels IPO subscribed 14x on Day 2; Rambhajo to add 30 franchise stores
Jaipur-based Advit Jewels' Rs 165.16 crore IPO drew 14.09x bids by Day 2 with GMP at Rs 56 over the Rs 130-138 band. Anchor book raised Rs 49.52 crore. Proceeds fund Rs 65 crore debt repayment and B2C build-out of Rambhajo-branded Kundan/Polki outlets—30 franchise stores planned across metros and tier-II cities.
What happened
Jaipur-based jewellery maker Advit Jewels' Rs 165 crore IPO subscribed 14x on Day 2. Proceeds will repay Rs 65 crore debt and fund B2C expansion of
Key facts
- Rs 165.16 crore IPO
- price band Rs 130-138
- Rs 49.52 crore anchor
- 14.09x subscription Day 2
- GMP Rs 56
- 30 stores planned
- Rs 65 crore debt repayment
Why this matters
Advit's pivot from wholesale to B2C franchise expansion under the Rambhajo brand sharpens its strategic profile and could make it a consolidation anchor—or target—in India's fragmented Kundan/Polki segment over the next 18 months.