Jaipur's Advit Jewels opens ₹165 cr IPO June 23; grey market signals 58% listing pop
Handcrafted jewellery maker Advit Jewels (brand Rambhajo) launches mainboard IPO at ₹130-138 band, raising ₹165 cr via 1.19 cr fresh shares. GMP of ₹80 implies 58% listing premium. Proceeds fund working capital and debt repayment. 9MFY26 revenue ₹1,237.9 cr, net profit ₹254.4 cr. BSE/NSE listing July 1.
What happened
Jaipur-based handcrafted jewellery maker Advit Jewels (brand Rambhajo) opens its ₹165 crore mainboard IPO on June 23 at ₹130-138 band; GMP signals 58% listing
Key facts
- price band ₹130-₹138
- ₹165 crore raise
- 1.19 crore fresh shares
- GMP ₹80
- 58% listing premium
- revenue ₹1,237.9 cr 9MFY26
- net profit ₹254.4 cr
Why this matters
Advit's mainboard debut at ₹165 cr validates regional Jaipur jewellery houses as IPO-ready, opening a window for consolidation plays and strategic stakes in similar handcrafted brands before valuations re-rate.