Advit Jewels lists at ₹188.90, a 36.88% premium over ₹138 IPO price
Jaipur-based handcrafted jewellery maker Advit Jewels (Rambhajo brand) made a stellar market debut at ₹188.90 on NSE, a 36.88% premium to its ₹138 issue price. The IPO was subscribed 212.63x, with GMP at ₹49.50. Proceeds fund ₹65 crore working capital and ₹65 crore debt repayment for the B2B jewellery supplier.
What happened
Jaipur-based handcrafted jewellery maker Advit Jewels (Rambhajo brand) listed at ₹188.90, a 36.88% premium over its ₹138 IPO price, after the issue was
Key facts
- listed ₹188.90 on NSE
- 36.88% premium
- issue price ₹138
- subscribed 212.63x
- GMP ₹49.50
- fresh issue 1.20 crore shares
- ₹65 crore working capital
- ₹65 crore debt repayment
Why this matters
The successful ₹130 crore raise, split evenly between working capital and debt repayment, deleverages Advit Jewels' balance sheet and positions the Jaipur-based handcrafted jewellery supplier for consolidation or capacity expansion in the fragmented B2B segment.
What to watch
- First quarterly results (revenue, margin, receivable days)
- Anchor lock-in expiry unlocking supply
- GMP-to-actual price convergence over first 5 sessions
- Gold price volatility affecting B2B jewellery input costs
- Broader SME/small-cap index momentum
- Watch first post-listing weekly delivery volumes vs traded volumes to gauge holder conviction
- Track promoter/anchor lock-in expiry calendar for supply overhang timing
- Monitor deployment disclosures of the ₹65cr working capital and ₹65cr debt repayment tranches
- Compare valuation multiples against listed jewellery peers to flag mean-reversion risk