Jaipur jeweller Advit (Rambhajo) IPO books 7.81x on Day 1; GMP signals 46% listing pop
Advit Jewels' Rs 165 cr IPO priced at Rs 130-138 drew 7.81x demand on day one with grey-market premium of Rs 64, pointing to a 46% listing gain. Larger peers Waterways Leisure (Cordelia Cruises, Rs 585 cr) and Turtlemint (Rs 883 cr) opened alongside but with muted GMPs.
What happened
Three IPOs in bidding: Jaipur jeweller Advit Jewels (Rambhajo) sees strong 7.81x day-1 demand and 46% GMP premium; Cordelia Cruises operator Waterways Leisure
Key facts
- Rs 165.16 cr Advit IPO
- Rs 130-138 price band
- GMP Rs 64 (46.38% premium)
- 7.81x day-1 subscription
- Rs 585 cr Waterways IPO
- Rs 769-808 band
- Rs 882.67 cr Turtlemint IPO
Why this matters
Advit's 7.81x oversubscription validates appetite for sub-Rs 200 cr regional jewellery plays, opening a window for roll-up M&A or strategic stakes in Tier-2 jewellers pre-IPO.