Advit Jewels IPO - Day 3: 212.63x Subscribed & GMP ₹56 (40.58%)
Key takeaways:
- The company is raising ₹165.16 crore through IPO allotment of fresh equity shares, without any offer for sale (OFS) component.
- The three-day subscription period started on Tuesday, June 23, 2026, and ended today, Thursday, June 25, 2026.
- As on Day 3, the IPO was oversubscribed by 212.63 times, with the Non-Institutional Investors (NII) segment leading the way.
- The GMP is currently at ₹56, which implies that the estimated listing price could be at ₹194 per share with a listing gain of around 40.58%.
While some IPOs have received mixed responses from investors in the recent past for their primary market offering, Advit Jewels' book-built issue of ₹165.16 crore was aggressively bid by all investor categories and was oversubscribed with a 212.63 times total subscription at the end of Day 3.
The enthusiasm for this IPO of a heritage jewellery brand was also reflected in the unlisted market, where it had a Grey Market Premium (GMP) of ₹56 on the final day of bidding, which implies a tentative listing price of ₹194.
Let's delve into the final day of Advit Jewels IPO bidding in detail.
Key dates for the Advit Jewels IPO
The Advit Jewels IPO has successfully wrapped up its public subscription window, which ran from Tuesday, June 23, 2026, to Thursday, June 25, 2026. The bidding process has ended, and the allotment is set to be finalised on Monday, June 29, 2026. The investors who did not get the shares will get their refunds on Tuesday, June 30, 2026. At the same time, the equity shares will be credited to the demat account of the successful bidders. The listing of the shares is scheduled for Wednesday, July 1, 2026, on the BSE and NSE.
The IPO offered the shares in the price band of ₹130 to ₹138 per equity share. The minimum application size for retail investors was 1 lot (100 shares), and the minimum investment was ₹13,800. Holani Consultants Pvt. Ltd. is the Book Running Lead Manager for this issue, and Bigshare Services Pvt. Ltd. is the registrar.
About Advit Jewels
Advit Jewels Limited is a well-established brand in the premium handcrafted jewellery industry with its base in the gemstone capital, Jaipur, Rajasthan. The brand name of the company is Rambhjo. Advit Jewels is a jewellery company that specialises in traditional and contemporary handcrafted jewellery.
It has a variety of jewellery pieces including Kundan jewellery, Polki jewellery, Diamond jewellery, Gemstone jewellery etc. The company has an integrated manufacturing facility of 6450 sq. ft. in Jaipur and has the latest technologies such as 3D printers, casting systems etc. which allows them to do the entire manufacturing process from design to the last polishing.
Advit Jewels is on a strong growth path in terms of its finances. The company's total income in FY25 was ₹124.94 crore, while in FY24, it was ₹69.45 crore. Likewise, its Profit After Tax (PAT) jumped to ₹25.37 crore in FY25 from ₹14.71 crore in FY24, indicating improved margins and efficiency.
Subscription status and GMP on the last day
Overall, the subscription was 212.63 times the number of shares offered by the end of day 3, witnessing a massive influx of investors. The Non-Institutional Investors (NII) were the biggest drivers of the momentum, oversubscribing their quota by 536.38 times.
The Retail Individual Investors (RIIs) also subscribed by a huge 95.30 times. The qualified institutional buyers (QIBs) subscribed 174.98 times to their allotted amount by rushing in the last few hours of the bidding window.
The company has raised a total of ₹165.16 crore, with ₹65 crore to be used for incremental working capital needs and ₹65 crore for the prepayment/repayment of outstanding borrowings to boost its balance sheet.
The sentiment in the unlisted market is in line with the massive subscription numbers. At the end of Day 3, it had a Grey Market Premium (GMP) of ₹56. At the upper price band of ₹138, it indicates a tentative listing price of ₹194 with a healthy listing premium of 40.58% for allottees. Now, all eyes are set on July 1, 2026, to see if the massive demand translates into a stellar debut on the Indian stock exchanges.
