Advit Jewels opens Rs 165 cr IPO at Rs 130-138; 46% GMP signals strong retail demand
Jaipur-based handcrafted jewellery maker Advit Jewels (Rambhajo brand) launches Rs 165 cr IPO with Rs 632 cr m-cap target. FY25 revenue Rs 124.94 cr, PAT Rs 25.37 cr, 30% EBITDA margin and 63.7% revenue CAGR FY23-25. Proceeds fund debt repayment, working capital, and Jaipur flagship plus franchise expansion.
What happened
Jaipur-based handcrafted jewellery maker Advit Jewels (Rambhajo brand) opens Rs 165 crore IPO at Rs 130-138, with 46% GMP and broad 'subscribe' ratings.
Key facts
- Rs 130-138 price band
- Rs 165 crore issue size
- Rs 632 crore m-cap
- GMP Rs 64-65
- Rs 124.94 crore FY25 revenue
- Rs 25.37 crore FY25 PAT
- 30% EBITDA margin
- 63.7% revenue CAGR FY23-25
Why this matters
Advit's IPO validates regional handcrafted jewellery brands as M&A and partnership targets, particularly those with Jaipur-anchored sourcing and franchise-ready unit economics.