Advit Jewels Rs 165 cr IPO subscribed 16.66x on Day 2; GMP signals 41% listing pop
Jaipur-based premium handcrafted jewellery house Advit Jewels (Rambhajo label) sees strong retail demand with 16.66x subscription on day 2 and a 40.58% grey market premium against its Rs 130-138 price band. Lists July 1 alongside Cordelia Cruises parent Waterways Leisure's Rs 585 crore offer.
What happened
Advit Jewels (Jaipur-based premium handcrafted jewellery under Rambhajo label) IPO of Rs 165 crore subscribed 16.66x on day 2 with 41% GMP. Waterways Leisure
Key facts
- Rs 165.16 crore
- Rs 585 crore
- price band Rs 130-138
- price band Rs 769-808
- Advit GMP 40.58%
- Advit subscribed 16.66x
Why this matters
Advit's successful Rs 165 cr raise alongside Waterways Leisure's Rs 585 cr offer signals an open SME/mid-cap window for premium consumer brands, opening doors for regional jewellery roll-ups and partnership plays.