Rambhajo parent Advit Jewels eyes Rs 160 cr IPO; 46% GMP signals hot listing

Jaipur-based handcrafted jewellery brand Rambhajo's parent Advit Jewels opens its Rs 160-crore mainboard IPO June 23-25 in a price band of Rs 130-138, with grey market premium of Rs 64 pointing to a 46% listing pop on July 1. FY25 revenue jumped 80% to Rs 125 cr; PAT rose 72% to Rs 25.4 cr.

— Source publishedTue, 23 Jun, 2026, 09:27 IST·First seen Tue, 23 Jun, 2026, 09:59 IST·Source NDTV Profit

What happened

Advit Jewels (Rambhajo) · Jaipur-based handcrafted jewellery brand Rambhajo's parent Advit Jewels opens Rs 160-crore mainboard IPO June 23-25, with 46% grey

Key facts

  • Rs 160 crore IPO
  • price band Rs 130-138
  • GMP Rs 64 (46.38%)
  • FY25 revenue Rs 124.94 cr (+79.9%)
  • FY25 PAT Rs 25.37 cr (+72.47%)
  • listing July 1

Why this matters

Advit's listing creates a new mid-cap consolidator template in fragmented Indian jewellery retail, opening M&A windows for regional ateliers seeking exit multiples benchmarked to Rambhajo's 46% premium.

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