Advit Jewels IPO subscribed 2.85x on day one as Jaipur jeweller eyes 30-store B2C push
The Rs 165 crore issue (price band Rs 130-138) drew 2.85x bids on day one with GMP at Rs 64, signalling a healthy retail-investor appetite. Proceeds fund Rs 65 crore debt repayment and franchise-led expansion of the Rambhajo brand to 30 stores, marking the Jaipur maker's pivot from B2B to consumer retail.
What happened
Jaipur jewellery maker Advit Jewels' Rs 165 crore IPO opened June 23, subscribed 2.85x on day one with GMP at Rs 64. Proceeds fund debt repayment and B2C
Key facts
- Rs 165.16 crore IPO
- price band Rs 130-138
- Rs 49.52 crore anchor
- GMP Rs 64
- 2.85x subscribed day 1
- Rs 65 crore debt repayment
- 30 stores planned
Why this matters
Advit's B2B-to-consumer pivot via a listed franchise model creates a regional jewellery roll-up template worth tracking for partnership, white-label, or acquisition angles in tier-2 markets.